Media Companies: Earnings are up for two...
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Media Companies: Earnings are up for two media enterprises. Knight-Ridder Co.’s second-quarter earnings nearly tripled from a year earlier. The Miami-based company’s net income amounted to $126.9 million, compared to $45 million a year ago. Revenue rose 12% to $578.7 million. The results include an after-tax $55.5-million gain on the sale of five television stations and a pretax gain of $49.1 million on the sale of the Pasadena Star-News. Washington Post Co. said its earnings rose 23% to $60.5 million in the second quarter. Revenue rose 8% to $374.5 million. The results reflect increased revenue at its newspaper division, Newsweek magazine, its television stations and cable division.
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