Washington Post 2013 Annual Report Download - page 10

Download and view the complete annual report

Please find page 10 of the 2013 Washington Post annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 112

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

8 | GRAHAM HOLDINGS COMPANY
But the regulations, planned primarily for our
sector, will have the opposite eects: higher
prices and thousands fewer low-income stu-
dents enrolled.
Shareholders need to know that we are opposing
these regulations as strongly as we can. But they
pose a challenge to Kaplan University’s future
ability to serve students.
3
3
3
Finally, our smallest businesses. We acquired
Forney, a maker of safety-related equipment
for power plants, from United Technologies last
year. Forney is ably managed by Tom Demrick
and his team. It should be a small but steady
source of profit for our Company and one that
we can be proud of.
Celtic Healthcare had an excellent year under
Arnie Burchianti’s and Kurt Baumgartel’s
management. We added some very small
acquisitions in counties adjoining Celtic’s
Pennsylvania territories.
Home health and hospice care are businesses
we can expand in—but they are a management
challenge. Celtic is outstanding; it is a for-profit
health care company that keeps its emphasis
on care. We hope to grow at a modest pace,
always maintaining our emphasis on quality.
A business growing at a much faster pace is
SocialCode, our social-media marketing tech-
nology company, run by Laura O’Shaughnessy
and John Alderman.
Laura and John have built an amazing team
and products that help the world’s largest
companies get the most out of social net-
works—Facebook, Twitter, LinkedIn and, now,
Instagram. SocialCode has become a leader
in managing social advertising and consumer
intelligence for brands.
In early 2013, Laura and John hired chief rev-
enue ocer Bill Masterson, and SocialCode’s
growth took o. After all but doubling book-
ings in 2012, SocialCode almost tripled them in
2013. Watch its future: SocialCode is now sig-
nificant to our Company. It is a leading business
in a field where others have achieved values in
the hundreds of millions.
The former WaPo Labs team remained with
our Company and has been renamed Trove—
that’s also the name of the new news app
the team debuted on the iPhone and iPad in
January 2014. The app encourages anyone—
expert or ordinary reader—to edit and com-
ment on favorite news topics. It’s somewhat
addictive. A New York Times reviewer agreed
in a piece headlined, “Trove Is a Treasure for
News Junkies.”
AFTER ALL BUT DOUBLING BOOKINGS IN 2012, SOCIALCODE TRIPLED THEM IN
2013. WATCH ITS FUTURE: SOCIALCODE IS NOW SIGNIFICANT TO OUR COMPANY.