News Media, Washington Post | featured news

“People use different media for different purposes.” First they go to television and news sites like The Post and the New York Times for information. “Then they go to the talk shows for their polarization.”

The Washington Post is standing by its reporting on Bain Capital’s outsourcing under Mitt Romney, and will not retract a recent story despite complaints from the Romney campaign.

How will the voluntary buyouts announced by The Post this week — the fifth such round in the past nine years — affect the quality of the publication?

The Washington Post Co. on Friday reported a 50 percent drop in second-quarter earnings, with revenue continuing to plummet in the Kaplan Higher Education Unit and both the online and print operations of the newspaper division seeing declines in advertising revenue. Overall profits for the quarter that ended July 3 totaled $45.6 million ($5.74 per share), the company said, compared with $91.9 million ($10.00 per share) a year earlier. Revenue increased at The Post Co.’s television broadcasting and cable television divisions.

Electronic Arts’ acquisition of Playfish in a deal worth up to $400 million signals that Facebook’s virtual goods economy is thriving. Meanwhile, Facebook Connect has been implemented on CNN.com, NBC.com, WashingtonPost.com, The Huffington Post, ABCNews.com and numerous other media sites.

Washington Post Co plans to offer a new round of buyouts in 2009 to employees at its namesake, money-losing newspaper and cannot rule out layoffs, its publisher said on Thursday.

The Washington Post plans to fold its business news coverage into the main news section, making it the latest newspaper to reorganize in difficult times for print media.