Best known as the former publisher of The Washington Post newspaper, Graham Holdings (formerly the Washington Post Company) is now focused on education, broadcasting, cable, and print and online news magazines. Its largest segment is education, conducted via Kaplan, which includes tutoring and test preparation services. Other operations include a portfolio of six TV stations, online and print publications such as Slate and Foreign Policy, and cable TV systems operator Cable One. Owned by the family of its chairman Donald Graham for 80 years, the flagship newspaper was sold to Internet mogul Jeff Bezos in 2013.
The company’s revenue decreased by 3% in fiscal 2012 compared to 2011. Revenues were down at the education and newspaper publishing divisions, partially offset by increases at the television broadcasting and cable television divisions. The Newspaper Publishing division has experienced a significant continued downward trend in print advertising revenue over the past several years, including a 14% decline in fiscal 2012. The decline follows an 11% print advertising decline at the Washington Post in fiscal 2011 and a 6% decline in fiscal 2010.
Like other newspaper and magazine publishers, Graham Holdings has struggled to manage the long, slow decline of print publications and advertising spending. New owner Bezoz plans to make the paper more customer-focused as the company tries to leverage digital opportunities for growth.