Washington Post Earnings Shows Print News Is a Losing Business

The Washington Post Company (NYSE:WPO), the group part-owned by CEO of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B), Warren Buffett, reported a decline in its net earnings for the second quarter, as slowing revenues at its education unit and the print advertising business took a toll on its operations.

Net earnings from continuing operations were $34 million ($4.48 a share), compared to $47.6 million ($6 a share) in the year ago quarter. However, profit, attributable to common shareholders, rose 13.6 percent to $51.8 million ($6.84 a share) from $45.6 million ($5.74 a share) last...