The Washington Post has been sold for $250 million to Internet mogul Jeffrey Bezos, but the TV stations and cable operations are staying put.
The Post-Newsweek TV stations and Cable One cable service/ISP subsidiary are not part of Amazon founder Bezos’ agreement to acquire the group’s corporate sibling, the daily paper Washington Post, and other owned newspapers.
The pending sale covers the flagship Post along with the Express, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing.
Emily Barr heads up the Post-Newsweek stations, which are in Miami, Jacksonville, Orlando, Detroit, Houston and San Antonio.
Washington Post Co. revenue for the second quarter was just over $1 billion, up 3% from the second quarter of 2012. Post-Newsweek had earnings of $99.3 million, an increase of 4% over the same quarter a year ago. The cable television division revenue increased 5% to $204.6 million in the quarter.
By contrast, the newspaper division has "suffered a 44 percent decline in operating revenue over the past six years," according to the Post.
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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.
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