In 2012, daily circulation at The Washington Post declined 8.6%, and Sunday circulation declined 6.2%; average daily circulation at The Washington Post totaled 471,800 and average Sunday circulation totaled 687,200.The newspaper publishing division reported an operating loss of $53.7 million in 2012, compared to an operating loss of $21.2 million in 2011, after including pension expense of $42.4 million and $25.3 million, respectively. For the fourth quarter of 2012, the newspaper division reported operating income of $2.6 million, compared to operating income of $6.8 million in the fourth quarter of 2011, after including pension expense of $9.9 million and $8.1 million, respectively. Included in pension expense for 2012 was an $8.5 million Voluntary Retirement Incentive Program (VRIP) for certain employees and a $0.9 million fourth quarter charge at The Herald in connection with its withdrawal from a multiemployer pension plan. Included in pension expense in the fourth quarter of 2011 was a $2.4 million charge at The Herald in connection with its withdrawal from a multiemployer pension plan. In addition, voluntary severance and other early retirement expense of $9.0 million and $4.4 million was recorded at The Washington Post in 2012 and the fourth quarter of 2012, respectively.
The Washington Post Company Reports 2012 And Fourth Quarter Earnings
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