More Dismal Newsweek News: Revenue Down 36%, Magazine Lost $2.3 Million in Q1
As The Washington Post Co. reported first-quarter earnings this morning, it also shed some light on the lackluster performance of Newsweek and reiterated its intention to sell the magazine.
Newsweek lost $2.3 million from operations in the first quarter of this year — an improvement over the $20.3 million it lost in the first quarter of 2009, but not enough, apparently, for The Washington Post Co. to want to keep the magazine.
Revenue fell a whopping 36% year over year to $29.4
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