Washington Post 2004 Annual Report Download - page 9

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Shareholders have every reason to be proud of WJXT’s staff: The news department
led the early and 10 p.m. news time periods; during big local news stories (like the
hurricanes), WJXT dominated local ratings. A rebuilt sales department showed better
results as the year went on.
Until 2003, PNS had consistently led independent broadcasters in profit margins.
Gannett took the lead in 2003; we narrowed the gap in 2004. We renewed affiliation
agreements with CBS in Orlando (for ten years) and with ABC in San Antonio and
Miami (for five years).
If you compare the profits at The Washington Post Company with those of ten years
ago, there are two large differences. The biggest is Kaplan (on which more later);
the other is Cable One, where operating income has almost doubled under chief
executive officer Tom Might.
Cable One serves 709,000 customers in smaller communities, mostly in the South
and West. Our average system has 17,000 cable subscribers. Tom has focused on
customer service and on a rational pace of new-product rollouts.
2004 saw a dramatically increased pace of competition for cable as Rupert Murdoch
took control of satellite broadcaster DirecTV and telephone companies stepped up
the pace of high-speed data offerings. There was talk of competition from wireless
and power companies, too.
2004 ANNUAL REPORT
7
WDIV, KPRC AND KSAT ARE THREE OF THE STRONGEST LOCAL STATIONS
IN THE COUNTRY... SUDDENLY JOINED BY A FOURTH IN WKMG.