Wednesday, February 25, 2009

Wash Po News-weak...

The Washington Post Co.'s reeling newspaper and magazine divisions stumbled again in the fourth quarter, extending an earnings slump that would have been even more disconcerting if not for the stability of the company's education and cable TV businesses.

The publisher of The Washington Post and Newsweek magazine said Wednesday that it made $18.8 million, or $2.01 per share, during the final three months of last year. That represented a 77 percent drop from net income of $82.9 million, or $8.71 per share, in the same quarter a year earlier.
They forgot to include the part about this occurring in an election year (in which Election Day fell inside this fiscal period). They, also, forgot to include the fact that their majority readership falls within the demographic of which you would expect an increased customer base in such a time frame.

Or, perhaps, the Washington Post, and Newsweek has accumulated all the fringe far Left readers available, and their continued bias, misrepresentations, and fawning over a favored candidate has moved them from all encompassing media outlet to a niche pigeon hole.

Or...just maybe...there was a sudden onslaught of disease that decimated the pet birds in this country during the last quarter. I know the fish market is hurting due to environmentalists...