Some shareholders of the Washington Post Co. would like the controlling Graham family to consider selling its flagship publication, the
Washington Post,
according to
a Reuters report.
The newspaper has lost money for three years, the report noted.
Charles de Vaulx of International Value Advisers, which owns a 7.4% stake, told Reuters:
“The reason we own the stock isn’t because of its newspaper business, it’s in spite of it.”
After the company sold
Newsweek
to Sidney Harman last year, Washington Post Co. chairman and CEO Donald Graham wrote in a letter to shareholders that the company would consider selling businesses “if they are losing money and we think they are unlikely to return to profit,” the Reuters article said.
In an e-mail to Reuters, Graham said about the possibility of a sale of the newspaper:
“The answer to your question is no. That is spelled n-o.”
(Source: Reuters, Sept. 8, 2011.)
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