Washington Post Company
Headquarters:
1150 15th Street, NW
Washington, DC 20071
Employees: 20,000
CEO: Donald Graham
Stock Symbol: WPO
Website:
http://www.washpostco.com
Career
Site
The Washington Post Company is a top media and education company with operations
in newspaper and magazine publishing, television broadcasting,
cable television systems, electronic information services, and
educational and career services.
The company owns The Washington Post, The
Gazette Newspapers (Maryland), The Herald (Everett, WA), Newsweek
and Budget Travel magazines, television stations in Detroit,
Houston, Miami, Orlando, San Antonio and Jacksonville.
Another subsidiary is Cable ONE, owner
and operator of cable television systems that provide digital,
internet, and cable modem services to subscribers in midwestern,
western, and southern states. Cable ONE is headquartered in Phoenix,
AZ.
The company also owns Kaplan, Inc., a leading
provider of educational and career services.
The Company has ownership interests in
the Los Angeles Times-Washington Post News Service and Bowater
Mersey Paper Company.
Revenues for 2008 were $4.46 billion, up 7% from the previous year. Net income was $65.7 million.
The company has been hurt by readership moving online and falling advertising. Daily circulation at The Post newspaper declined 2.6%, and Sunday circulation declined 3.3% in 2008; average daily circulation totaled 633,100, and average Sunday circulation totaled 872,500. The newspaper division had a $192.7 million loss in 2008.
The company offered a Voluntary Retirement Incentive Program to certain employees of The Washington Post newspaper in March 2008, and 231 employees accepted the offer.
In February 2009, Newsweek announced a circulation rate base reduction at its domestic edition, from 2.6 million to 1.5 million by January 2010. Newsweek also offered a Voluntary Retirement Incentive Program to certain employees in the first quarter of 2008, and 117 employees accepted the offer. The magazine division had an operating loss in 2008 of $16.1 million.
History
Founded by independent-minded Democrat
Stilson Hutchins, The Washington Post began publishing on Thursday,
Dec. 6, 1877. It was printed at 914 Pennsylvania Ave., N.W.,
and had a circulation of 10,000. The newspaper contained four
pages and cost three cents a copy. The Post published its first
Sunday edition in 1880.
The Post went bankrupt and was purchased
by California financier Eugene Meyer in 1933, who had strong
convictions about publishing a newspaper that told the truth.
President Harry Truman appointed Eugene Meyer the first president
of the International Bank for Reconstruction and Development
in 1946. Meyer was succeeded at The Washington Post by his daughter
Katharine Meyer Graham's husband, Philip L. Graham, who had been
assistant publisher.
The Washington Post was incorporated in
1947 and acquired a controlling interested in DC radio station
WTOP in 1948. Philip Graham would purchase Newsweek magazine
in 1961. Katharine Graham became president of The Washington
Post Company following the death of her husband, Philip Graham
in 1963.
On June 16, 1972, The Post begins reporting
on a break-in at the Democratic National Committee headquarters
at the Watergate offices in DC. The story and the resulting scandal
eventually lead to the resignation of President Richard Nixon.
In 1979, Katharine Graham's son Donald
succeeded her and became publisher of The Washington Post. He
would become CEO in 1993. Katharine Graham died in 2001.
The company purchased online magazine Slate
from Microsoft in 2004.
Benefits
Here are some benefits offered to employees.
These may vary with division.
- Flexible benefits and spending accounts
- 401(k) and pension plans
- Tuition and training reimbursement
- Conference and seminar attendance
- Subsidized parking/metro
- Adoption assistance
- Employee referral program
- Domestic partner benefits
- Corporate sponsored events
- Movie & photo developing discounts
- Monthly gatherings
- Casual dress
- Free sodas
Updated March 25, 2009
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