Washington Post 2002 Annual Report Download - page 23

breach of contract and tortious interference. The allegations largely stem from the Gazette’s acquisition of the
Southern Maryland Newspapers in 2001 and Press Network’s treatment of newspapers published by certain of the
plaintiffs in connection with membership in the network and the placement of newspaper advertising. The suit seeks
unspecified damages (which in certain instances may be trebled by statute) and attorneys’ fees, as well as injunctive
relief (including the divestiture of the Gazette by the Company). The District Court granted summary judgment for
defendants on all of plaintiffs’ claims on August 16, 2002. Plaintiffs filed a notice of appeal on September 27,
2002, and the case is currently before the United States Court of Appeals for the Fourth Circuit.
Kaplan, Inc., a wholly owned subsidiary of the Company, is the named defendant in a class action filed on
December 20, 2002, in Superior Court of the State of California, County of Alameda, brought by individuals who
were engaged as Kaplan lecturers, teachers and tutors in California since December 20, 1998. The suit alleges
breaches of implied contracts as well as violations of the California wage and hour laws and the California Business
and Professions Code prohibitions against unfair competition by means of unlawful, unfair or fraudulent business
practices or acts. The case arose out of claims that Kaplan failed to pay its instructors for time spent preparing for
lectures, classes and tutoring sessions, time spent after class answering students’ questions, and time spent traveling
to and from different teaching locations. The suit seeks unspecified damages (which may in certain instances include
penalties).
The Company and its subsidiaries are also defendants in various other civil lawsuits that have arisen in the ordinary
course of their businesses, including actions for libel and invasion of privacy. While it is not possible to predict the
outcome of these lawsuits and the lawsuits described in the preceding two paragraphs, in the opinion of manage-
ment their ultimate disposition should not have a material adverse effect on the financial position, liquidity or results of
operations of the Company.
Item 4. Submission of Matters to a Vote of Security Holders.
Not applicable.
PART II
Item 5. Market for the Registrant’s Common Equity and Related Stockholder Matters.
The Company’s Class B Common Stock is traded on the New York Stock Exchange under the symbol ‘‘WPO.’’ The
Company’s Class A Common Stock is not publicly traded.
The high and low sales prices of the Company’s Class B Common Stock during the last two years were:
2002 2001
Quarter High Low High Low
January – March ******* $618 $520 $652 $524
April – June *********** 634 545 608 542
July – September ******* 675 516 599 470
October – December *** 743 646 540 479
During 2002 the Company repurchased 1,229 shares of its Class B Common Stock.
At January 28, 2003, there were 28 holders of record of the Company’s Class A Common Stock and 1,046 holders
of record of the Company’s Class B Common Stock.
Both classes of the Company’s Common Stock participate equally as to dividends. Quarterly dividends were paid at
the rate of $1.40 per share during both 2002 and 2001.
Item 6. Selected Financial Data.
See the information for the years 1998 through 2002 contained in the table titled ‘‘Ten-Year Summary of Selected
Historical Financial Data’’ which is included in this Annual Report on Form 10-K and listed in the index to financial
information on page 27 hereof (with only the information for such years to be deemed filed as part of this Annual
Report on Form 10-K).
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