Post-Newsweek 4Q Rev +32%, 2012 +25%

The Washington Post Co. today reported fourth quarter and full-year 2012 financial results. Revenue for its Post-Newsweek television broadcasting division increased 25% to $399.7 million in 2012, from $319.2 million in 2011; for the fourth quarter of 2012, revenue increased 32% to $116.2 million, from $88.3 million in 2011.

Television broadcasting division operating income for 2012 increased 64% to $191.6 million, from $117.1 million in 2011. For the fourth quarter of 2012, operating income increased 54% to $62.8 million, from $40.9 million in 2011.

The company said the increase in revenue and operating income for 2012 and the fourth quarter of 2012 reflects improved advertising demand across many product categories. These results include:

A $48.1 million and $25.9 million increase in political advertising revenue in 2012 and the fourth quarter of 2012, respectively.

$10.8 million in incremental summer Olympics-related advertising at the company’s NBC affiliates in the third quarter of 2012.

Increased retransmission consent revenues.

The company’s cable television division revenue for 2012 increased 4% to $787.1 million, from $760.2 million in 2011; revenue totaled $201.7 million for the fourth quarter of 2012, a 6% increase from $190.8 million for the fourth quarter of 2011.

The revenue results reflect continued growth of the division’s Internet and telephone service revenues and rate increases for many subscribers in June 2012, offset by a decline in basic video subscribers.

For the company as a whole, revenue for 2012 was $4,017.7 million, down 3% from $4,131.1 million in 2011. Revenues were down at the education and newspaper publishing divisions, partially offset by increases at the television broadcasting and cable television divisions. Operating income for 2012 decreased to $144.5 million, from $325.9 million in 2011.

For the fourth quarter of 2012, revenue was $1,050.1 million, up 1% from $1,040.4 million in 2011. The company reported an operating loss of $14.4 million in the fourth quarter of 2012, compared to operating income of $109.3 million in 2011.

Read the company’s report here.