The three communication businesses of The Washington Post Company posted vastly different results during Q3 2012. Broadcast television easily led the way, thanks to the spending frenzy in the political category.
Revenue for the television division rose 44% to $106.4M, and operating income was doubled and then some, rising from $24.1M in Q3 2011 to $54.1M this time around. $15.6M of the Q3 revenue gain came in the political category, and the Olympics were credited with brining in another $10.8M.
Cable revenue rose 6% to $199.6M, and operating income increased 8% to $39.9M. The company attributed the improvement to growth in internet and telephone income, plus rate increases that kicked in back in June. The positive results were slowed, however, by a decrease in the number of basic cable subscribers.
Newspaper revenue was down 4% to $137.3M, and advertising revenue was down 11% to $51.4M. On the plus side, revenue from the company’s online offerings, including the washingtonpost.com and Slate, was up 13% to $26.9M. Subscriptions for both the print daily and Sunday editions were down, and the division lost $21.8M during Q3.