Post-Newsweek Revenue Climbs 44%
Post-Newsweek revenue in the third quarter was $106.4 million, up 44% over the same quarter a year ago. Operating income for the third quarter more than doubled to $54.1 million.
The increase in broadcast revenue reflects a $15.6 million in political advertising revenue in the third quarter, $10.8 million in incremental Summer Olympics-related advertising at the company's NBC affiliates and increased retransmission revenues.
Parent Washington Post Co.'s revenue for the third quarter was $1.01 billion, flat compared to the third quarter of 2011.
Cable television revenue grew 6% to $199.6 million, due in part to internet and telephone service revenues. Cable division operating income increased 8% to $39.9 million.
Newspaper publishing division revenue totaled $137.3 million for the third quarter of 2012, down 4% from the third quarter of 2011. Print advertising revenue at The Washington Post slipped 11% to $51.4 million.
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Michael Malone is content director at B+C and Multichannel News. He joined B+C in 2005 and has covered network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television, including writing the "Local News Close-Up" market profiles. He also hosted the podcasts "Busted Pilot" and "Series Business." His journalism has also appeared in The New York Times, The L.A. Times, The Boston Globe and New York magazine.