Post-Newsweek reported second quarter earnings of $82.6 million, a
24% increase over the same quarter a year ago. Operating income for the
quarter was $29.8 million, more than double the $14.3 million it posted
in the same quarter last year.
"The increase in revenue and
operating income is due to improved advertising demand in all markets
and most product categories, particularly automotive," the group said in
a statement. "The increased revenue and operating income also includes
$5.1 million in incremental winter Olympics-related advertising at the
company's NBC affiliates in the first quarter of 2010, and a $3.3
million and $5.5 million increase in political advertising revenue for
the second quarter and first six months of 2010, respectively."
Post-Newsweek
is Washington Post Company's broadcasting division. It's comprised of
six stations, including WDIV Detroit. Alan Frank runs the TV group.
Washington
Post's cable television group reported $190.6 million in the second
quarter, a 2% increase from the $186.7 million it reported in the same
quarter last year. The gain was due to "continued growth in the
division's cable modem and telephone revenues, and a $4 monthly rate
increase for most basic subscribers in June 2009," reported Washington
Post Co.
The overall company. reported $1,201.8 million in
revenue for the quarter, up 11% from the same quarter a year ago. On
August 2, Washington Post Co. reached an agreement to sell Newsweek
magazine.
