'WaPo' Woes: Advertising Plummets 12%, Circulation Down 8.6%
Late last week, Breitbart News reported on a wave of layoffs the once-legendary Washington Post was apparently attempting to cover up. Through the use of ice-cold corporatist terms like "inefficiencies" and the hushing up of its employees, the Post planned to toss 54 human beings into the job desolation that is Barack Obama's economy.
Today comes more good news for anyone who believes Obama Palace Guards should pay a price for posing as objective news outlets: Like the failed Obama economy the Post worked so hard to cover up, the Post has also reported a fourth quarter loss:
The Washington Post Co. reported a fourth quarter 2012 loss of $45.4 million, or $6.57 a share as it took $113 million of charges for goodwill write downs and restructuring, mostly in its Kaplan education subsidiary.
That's the Post company as a whole. The news for the left-wing pipe organ some call a newspaper is even worse:
The Kaplan education unit and the newspaper division continued to struggle; revenues at each dropped about 6 percent, and operating income fell sharply. …
Print advertising at The Washington Post slid 12 percent in the fourth quarter, to $67.5 million. A 5 percent increase in ad revenue, to $33.1 million, from the company’s online operations — primarily washingtonpost.com and Slate — made up about half the print ad decline in the fourth quarter.
Daily circulation at The Washington Post declined 8.6 percent, to an average of 471,800 for all of 2012, and Sunday circulation dropped 6.2 percent, to an average of 687,200.
The Washington Post sold its credibility to elect and re-elect Barack Obama. Now it's facing the consequences of his economy and the plummet in readership that comes with a credibility loss.
You'll excuse me if I don’t take violin lessons.
Follow John Nolte on Twitter @NolteNC