Washington Post 2003 Annual Report Download - page 37

Fox Television Network, 35 broadcast television stations, a group of regional sports networks and ten nationally distributed
cable networks (including the Fox News Channel, FX, Speedvision and the National Geographic Channel), acquired a
controlling interest in DirecTV. This acquisition was approved by the FCC in an order that, among other things, requires
News Corp to offer carriage of its broadcast television stations and access to its cable programming services to cable
television systems and other multichannel video programming distributors on nonexclusive and nondiscriminatory terms and
conditions. Notwithstanding the requirements imposed by the FCC, this acquisition has the potential not only to enhance
DirecTV's effectiveness as a competitor, but also to limit the access of cable television systems to desirable programming
and to increase the costs of such programming. The Company's cable television systems also compete with wireless cable
services in several of their markets and may face additional competition from such services in the future. Moreover, the
Telecommunications Act of 1996 permits telephone companies to own and operate cable television systems in the same
areas where they provide telephone services and thus may lead to the provision of competing program delivery services
by local telephone companies.
According to figures compiled by Publishers' Information Bureau, Inc., of the 228 magazines reported on by the Bureau,
Newsweek ranked fifth in total advertising revenues in 2003, when it received approximately 2.3% of all advertising
revenues of the magazines included in the report. The magazine industry is highly competitive, both within itself and with
other advertising media that compete for audience and advertising revenue.
PostNewsweek Tech Media's publications and trade shows compete with many other advertising vehicles and sources of
similar information.
Kaplan competes in each of its test preparation product lines with a variety of regional and national test preparation
businesses, as well as with individual tutors and in-school preparation for standardized tests. Kaplan's Score Education
subsidiary competes with other regional and national learning centers, individual tutors and other educational businesses
that target parents and students. Kaplan's Professional Division competes with other companies that provide alternative or
similar professional training, test preparation and consulting services. Kaplan's Higher Education Division competes with
both facilities-based and other distance learning providers of similar educational services, including not-for-profit colleges
and universities and for-profit businesses. Overseas, both The Financial Training Company and Dublin Business School
compete with other for-profit companies and with governmentally supported schools and institutions that provide similar
training and educational programs.
The Company's publications and television broadcasting and cable operations also compete for readers' and viewers'
time with various other leisure-time activities.
The future of the Company's various business activities depends on a number of factors, including the general strength of
the economy; population growth and the level of economic activity in the particular geographic and other markets it serves;
the impact of technological innovations on entertainment, news and information dissemination systems; overall advertising
revenues; the relative efficiency of publishing and broadcasting compared to other forms of advertising; and, particularly in
the case of television broadcasting and cable operations, the extent and nature of government regulations.
Executive Officers
The executive officers of the Company, each of whom is elected for a one-year term at the meeting of the Board of
Directors immediately following the Annual Meeting of Stockholders held in May of each year, are as follows:
Donald E. Graham, age 58, has been Chairman of the Board of the Company since September 1993 and Chief Executive
Officer of the Company since May 1991. Mr. Graham served as President of the Company from May 1991 until
September 1993 and prior to that had been a Vice President of the Company for more than five years. Mr. Graham also
served as Publisher of The Washington Post from 1979 until September 2000.
Diana M. Daniels, age 54, has been Vice President and General Counsel of the Company since November 1988 and
Secretary of the Company since September 1991. Ms. Daniels served as General Counsel of the Company from January
1988 to November 1988 and prior to that had been Vice President and General Counsel of Newsweek, Inc. since 1979.
Ann L. McDaniel, age 48, became Vice President-Human Resources of the Company in September 2001. Ms. McDaniel
had previously served as Senior Director of Human Resources of the Company since January 2001, and prior to that held
various editorial positions at
Newsweek for more than five years, most recently as Managing Editor, a position she
assumed in November 1998.
John B. Morse, Jr., age 57, has been Vice President-Finance of the Company since November 1989. He joined the
Company as Vice President and Controller in July 1989 and prior to that had been a partner of Price Waterhouse.
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