Tuesday, May 8, 2012

Crash Dive at WaPo

Forbes has the details:

The Washington Post Co. reported its first-quarter earnings on Friday, and the news coming out of the newspaper division was mostly grim. The unit lost $22.6 million in the quarter, with revenue down 8% and revenue from print advertising specifically falling 17%. 
Meanwhile, the Post just reported one of the biggest circulation drops of any major newspaper with the lucrative Sunday edition selling 5.2% fewer copies and the daily edition skidding almost 10%. Oh, and newsroom leaders are so distressed about the way the business decline is affecting them, they held a secret meeting with the paper’s president, Steve Hills — without inviting executive editor Marcus Brauchli.



6 comments:

  1. So the guys long on WaPo and newspapers in general (Buffett and Munger) badmouth gold.

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  2. Loving it. The shills for the state can't maintain their circulation thanks to the internet and of course, Craigslist. Soon they will probably ask for taxpayer money.

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  3. Best news I've read all day.

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    1. Yes, and no doubt it wasn't "printed" in the WaPo. Ha ha ha!

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  4. Time to buy newspaper stocks...Fed bailout on the horizon! LOL

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  5. Well, the solution is simple. First, a government bailout for their mouthpiece. Then, of course, require every Amerikan citizen to take the Post. I am sure the CIA and the giant banks will be very pleased with my solution.

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