Washington Post Co posted a fourth-quarter loss yesterday after taking a $111.6 million (€84.7 million) writedown of one of its troubled educational businesses Kaplan Test Preparation.

The company, which publishes its namesake newspaper and operates cable and education businesses, reported a loss of $45.4 million, or $6.57 per share, compared with year-earlier net income of $61.7 million or $8.03 per share.

Washington Post Co has been struggling with two problems: the precipitous decline of print advertising revenue at its flagship publication and tougher regulations aimed at for-profit colleges that affect its Kaplan business.

The education business accounts for half of the company’s total revenue.

In the fourth quarter revenue at that division declined 6 per cent to $544.4 million.

At the newspaper division revenue dropped 6 per cent to $162.1 million due on a 12 per cent decline in print advertising at the Washington Post.

Online advertising revenue, which includes Slate.com, rose 5 per cent to $33.1 million. - Reuters