Photo by Glyn Lowe Photos.The Washington Post may still be the newspaper of record for out-of-towners to cite when it comes to mocking the hipness quotient of the District and her surroundings, but it’s sure not making much money.
According to third-quarter figures released by this morning, the Washington Post Company lost $6.2 million last quarter, mainly due to losses incurred by the organization’s Kaplan education business.
But in case you weren’t really sure about the kind of numbers people are talking about when they speak of the “death of print,” the quarterly numbers have ’em in spades: ad revenues for Post media properties were “20 percent lower than the same period last year,” including a 13 percent decline in print advertising and a 14 percent drop in online advertising. Meanwhile, newspaper circulation has dropped by 5.4 percent in the first nine months of 2011, compared to the same period in 2010. (In September, the Post shuttered a number of its regional bureaus.)
So, while might not be able to read any of it on the pages of the paper, we have to imagine that the Post’s executives are certainly dabbling liberally in the expletive slang this afternoon.