Tuesday, August 06, 2013

Those Unsustainable Deficits....

Based on the math, it is hard to justify a $250 million valuation for The Washington Post. The company reported it lost nearly $50 million for the first half of the year on its newspaper operation that generated $138.4 million in revenue. Of the $50 million loss, nearly $40 million was a noncash pension expense. So you could argue that the company lost only $10 million on operations. But it lost $33 million in the first half of 2012, too, also including pension costs. Circulation fell about 7 percent in the first half of 2013.
This is the paper that employs George "The Ichneumon Larva" Will, Charles "The Greek" Lane, Charles "Stein's Law" Krauthammer and Robert "Shoddy Quality" Samuelson? One imagines those four have already agreed to massive cuts in their pay and benefits. (And then one wakes up.)

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