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The Washington Post Co. |  |
From the April 28, 1997, Washington Post
| '96 (in $ 000s) | % Change From '95 | |
| Revenue | 1,853,445 | 7.8 |
| Net Income | 220,817 | 16.2 |
| Rank Last Year: 12 | ||
Description:
The Washington Post Co. owns this newspaper and media businesses that include Newsweek magazine, cable TV systems, six TV stations, Kaplan Educational Centers, the Gazette newspapers of Maryland and the Legi-Slate Inc. database company. The company also provides online news and information services through its Digital Ink subsidiary, which operates the washingtonpost.com site on the World Wide Web.
Business Resume:
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The Post Co. continued a $250 million upgrade of its printing operations that includes construction of a new plant in College Park and the expansion and modernization of its plant in Springfield. The company has ordered eight new offset color presses, the first of which is scheduled to arrive in April and begin operation in the fall.
Advertising revenue at the newspaper division rose only about 3 percent during the year, largely because of economic disruption caused by a federal government shutdown, financial troubles in the District government and major snow and ice storms. Daily and Sunday circulation fell by 1 percent in 1996. Helping the bottom line were lower-than-expected newsprint prices. But those same low prices also hurt two newsprint mills in which The Post Co. owns minority shares.
The Post expanded its local coverage outside the District and close-in suburbs, starting up a three-times-a-week zoned section called Prince William Extra for Prince William County.
In June, Digital Ink launched the washingtonpost.com Web site. Digital Ink also began the Newsweek Parent's Guide to Children's Software '97 Web site and PhotoStore, a Web site that sells photographs from The Post newspaper, Newsweek and other collections. Digital Ink was a partner with ABC News and the National Journal in producing PoliticsNow, a political Web site, until it closed last month.
In December The Post Co. hired Marc Teren, former vice president of Walt Disney Co.'s interactive entertainment division, as president of Digital Ink.
Post-Newsweek Cable acquired three cable TV systems in 1996, bringing the total number of subscribers to basic service to nearly 600,000. Revenue from the company's six Post-Newsweek television stations—boosted in part by $30 million in Olympics and election-year advertising—made the broadcast division the largest contributor to Post Co. profits.
Newsweek International began a Spanish-language edition and helped launch Itogi, Russia's first independent news weekly.
And the Gazette Newspapers division acquired Comprint Inc., a commercial printer, and Comprint Military Publications, which serves 13 military bases in the area.
Copyright 1997 The Washington PostncG1vNJzZmivp6x7uK3SoaCnn6Sku7G70q1lnKedZMSxedKrrWiapai2r7HSrGalp56cwaa%2BzGinqKukZ31xe8Oaq5pnkpvBpHyQa2WhrJ0%3D