The Washington Post Co. reported a massive 86 percent decline in third quarter earnings today compared to last year.
Net income was $10.3 million, down significantly from the $72.5 reported back in 2007.
Its education and cable divisions (Kaplan and Cable One) were the big winners, both posting gains, but newspapers dragged it down.
While overall company revenue was up 10 percent, newspaper numbers followed similar trends from competitors, with print down 14 percent (mostly due to poor classified sales) and online up 13 percent.
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