A difference of nearly $19 million in political ad revenue from the year-ago quarter is the culprit.
The Washington Post Co. today reported revenue for the television broadcasting division declined 14% in the fourth quarter of 2011 to $88.3 million, from $102.9 million in 2010. Television broadcasting division operating income declined 10% to $40.9 million, from $45.3 million in 2010.
The decline in revenue is due primarily to an $18.9 million decrease in political advertising revenue in the quarter, the company said.
Cable television division revenue totaled $190.8 million for the fourth quarter of 2011, a small decline from $191.3 million for the fourth quarter of 2010. The revenue results reflect continued growth of the division’s Internet and telephone service revenues, offset by an increase in promotional discounts and a decline in basic video subscribers.
Read the company’s report here.