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UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION
 Washington, D.C. 20549
     FORM 10-K
 ANNUAL REPORT
    PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934
 FOR THE FISCAL YEAR ENDED
    DECEMBER 30, 2007
 Commission file
    number 1-6714
 The Washington
    Post Company
 (Exact name of registrant as
    specified in its charter)
  Delaware

53-0182885(State or other jurisdiction of
    incorporation or organization)

(I.R.S. Employer Identification No.)1150 15th St., N.W., Washington, D.C.

20071(Address of principal executive
    offices)

(Zip Code)  Registrants
    Telephone Number, Including Area
    Code:  (202) 334-6000
 Securities
    Registered Pursuant to Section 12(b) of the Act:
 Title of each classClass B
    Common Stock, par value
    $1.00 per share

Name of each exchange
    on which registeredNew
    York Stock Exchange   þ o
  o þ
  þ o
  Regulation S-K Form 10-K Form 10-K. þ
  12b-2  þ o o o
  Rule 12b-2 o þ
    Shares of common stock outstanding
    at February 22, 2008:  Class A Common
    Stock  1,291,693 shares
 Class B Common
    Stock  8,224,848 shares
  Documents
    partially incorporated by reference:
  Definitive Proxy
    Statement for the registrants 2008 Annual Meeting of
    Stockholders
 (incorporated in
    Part III to the extent provided in Items 10, 11,
    12, 13 and 14 hereof).




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##### 



THE WASHINGTON
    POST COMPANY 2007
    FORM 10-K
  PART IItem 1.

Business


1Education


1Newspaper Publishing


5Television Broadcasting


9Magazine Publishing


14Cable Television Operations


15Other Activities


21Production and Raw Materials


22Competition


23Executive Officers


26Employees


26Forward-Looking Statements


27Available Information


28Item 1A.

Risk Factors


28Item 1B.

Unresolved Staff Comments


30Item 2.

Properties


30Item 3.

Legal Proceedings


32Item 4.

Submission of Matters to a Vote of Security
    Holders


32PART IIItem 5.

Market for the Registrants Common Equity,
    Related Stockholder Matters and Issuer Purchases of Equity
    Securities


33Item 6.

Selected Financial Data


34Item 7.

Managements Discussion and Analysis of
    Financial Condition and Results of Operations


34Item 7A.

Quantitative and Qualitative Disclosures About
    Market Risk


35Item 8.

Financial Statements and Supplementary Data


35Item 9.

Changes in and Disagreements With Accountants on
    Accounting and Financial Disclosure


36Item 9A.

Controls and Procedures


36Item 9B.

Other Information


36PART IIIItem 10.

Directors, Executive Officers and Corporate
    Governance


37Item 11.

Executive Compensation


37Item 12.

Security Ownership of Certain Beneficial Owners
    and Management and Related Stockholder Matters


37Item 13.

Certain Relationships and Related Transactions,
    and Director Independence


37Item 14.

Principal Accounting Fees and Services


37PART IVItem 15.

Exhibits, Financial Statement Schedules


37SIGNATURES


38INDEX TO FINANCIAL INFORMATION


39Managements Discussion and Analysis of
    Results of Operations and Financial Condition (Unaudited)


40Financial Statements and Schedules:Report of Independent Registered Public
    Accounting Firm


54Consolidated Statements of Income and
    Consolidated Statements of Comprehensive Income for the Three
    Fiscal Years Ended December 30, 2007


55Consolidated Balance Sheets at December 30,
    2007 and December 31, 2006


56Consolidated Statements of Cash Flows for the
    Three Fiscal Years Ended December 30, 2007


58Consolidated Statements of Changes in Common
    Shareholders Equity for the Three Fiscal Years Ended
    December 30, 2007


59Notes to Consolidated Financial Statements


60Financial Statement Schedule for the Three Fiscal
    Years Ended December 30, 2007:II  Valuation and Qualifying
    Accounts


83Ten-Year Summary of Selected Historical Financial
    Data (Unaudited)


84INDEX TO EXHIBITS


87EX-10.1EX-10.3EX-10.4EX-21EX-23EX-24EX-31.1EX-31.2EX-32




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PART I
  Item 1.
    Business.
  The Washington Post Newsweek
  Form 10-K.
  Newsweek
  Education
    Test Prep and
    Admissions
  English-
     2007 FORM 10-K




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Professional
        Mandarin-language Mandarin-language
       THE WASHINGTON POST
    COMPANY




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Consortium (a university
    consortium comprising 11 U.K. universities), ACE Education also
    offers programs at the Sino-British College in Shanghai. ACE
    Education had approximately 1,600 students enrolled at year-end.
    Higher
    Education
  Higher Education
    U.S.
  U.S.-based
    Kaplan Virtual
    Education
    Dublin Business
    School
    Holborn
    College
     2007 FORM 10-K




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Holborns students come from
    outside the United Kingdom and the European Union. At year-end
    2007, Holborn was providing courses to approximately 2,100
    students.
  Kaplan Law
    School
    Student Visas for
    Study in the U.S.
    Title IV
    Federal Student Financial Aid Programs
           THE WASHINGTON POST
    COMPANY




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Newspaper
    Publishing
  The Washington
    Post
  The Washington Post,
   2007 FORM 10-K




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The Post 12-month The Post 12-month
  Average Paid CirculationDaily


Sunday2003


749,323



1,035,2042004


729,068



1,016,1632005


706,015



983,2432006


681,510



945,3432007


658,059



912,709   The Post 50-mile The
    Post The Post
    The Post
  2003


2004


2005


2006


2007Total Inches (in thousands)


2,675



2,726



2,661



2,613



2,301Full-Run Inches


2,121



2,120



1,943



1,839



1,592Part-Run Inches


554



606



718



774



709Preprints (in millions)


1,835



1,887



1,833



1,828



1,700   The Washington Post National Weekly
    Edition, The Washington Post National Weekly Edition
  The Post The Post
  The Post The Washington Post,
    The percentages set forth in
    this paragraph were calculated from The Posts
    published non-discounted advertising rates. However, most
    advertisers qualify for multiple-insertion and other discounts,
    and the demand for advertising varies over time, so those
    percentages may not accurately reflect the actual revenue impact
    of
    year-over-year
    rate changes.
   THE WASHINGTON POST
    COMPANY




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The Post
  The Post
  Express
    Publications
  Express, Express Express Express Express www.readexpress.com,
  Washingtonpost.Newsweek
    Interactive
  The Washington
    Post The Post Post Post e-mail
  Newsweek Newsweek, Budget Travel Arthur Frommers Budget Travel
  Slate, Slate
  Slate Newsweek
  Sprig Sprig
  The Root The Root
     2007 FORM 10-K




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real estate. The other owners are
    Tribune Company, The McClatchy Company, Gannett Co., Inc. and
    Belo Corp. Listings for these databases come from print and
    online-only sales of classified ads by the newspaper and online
    sales staffs of the various owners, as well as from sales made
    by Classified Ventures own sales staff. The
    washingtonpost.com site provides links to the Classified
    Ventures national car and apartment rental websites
    (www.cars.comand www.apartments.com). WPNI uses
    software from Classified Ventures to host
    washingtonpost.coms online listing of residential real
    estate for sale in the greater Washington, D.C., area, and
    Classified Ventures consolidates the local listings of its
    various owners into a national residential real estate website
    (www.homescape.com).
  Newsweek MSNBC.com MSNBC.com The Washington Post. Newsweek.com stand-alone
  PostNewsweek
    Media
  The Gazette Newspapers, Southern Maryland
    Newspapers,
  The Gazette Newspapers www.gazette.net www.dcmilitary.com Southern Maryland Newspapers
  The Gazette Newspapers Southern Maryland
    Newspapers
    The
    Herald
  The
    Herald The Herald www.heraldnet.com. The Enterprise Newspapers La Raza del
    Noroeste, Spanish-language Snohomish County Business
    Journal Seattles Child
  The Herald The Enterprise Newspapers La Raza del Noroeste Snohomish County Business Journal
   THE WASHINGTON POST
    COMPANY




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The Herald, The Enterprise Newspapers, Snohomish
    County Business Journal, La Raza and Seattles Child
  Greater
    Washington Publishing
  The Washington
    Post Apartment Showcase, New Homes
    Guide, Guide to
    Retirement Living Sourcebook, Washington Spaces, Washington Spaces,
  El Tiempo
    Latino
  El Tiempo Latino, Spanish-language El Tiempo Latino
  Television
    Broadcasting
        National

$
102,574,000Local


210,410,000Network


13,026,000Total

$
326,010,000    2007 FORM 10-K




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Station Location and







ExpirationYear Commercial

National



Expiration

Date of

Total Commercial Stations inOperation

Market

Network

Date of FCC

Network

DMA (b)Commenced

Ranking (a)

Affiliation

License

Agreement

Allocated

OperatingKPRC
    Houston, TX
    1949

10th

NBC

Aug. 1, 
    2006 (c)

Dec. 31,
    2011

VHF-3
    UHF-11

VHF-3
    UHF-11WDIV
    Detroit, MI
    1947

11th

NBC

Oct. 1, 
    2013

Dec. 31,
    2011

VHF-4
    UHF-6

VHF-4
    UHF-5WPLG
    Miami, FL
    1961

16th

ABC

Feb. 1,
    2013

Dec. 31,
    2009

VHF-5
    UHF-8

VHF-5
    UHF-8WKMG
    Orlando, FL
    1954

19th

CBS

Feb. 1,
    2013

Apr. 6,
    2015

VHF-3
    UHF-10

VHF-3
    UHF-9KSAT
    San Antonio, TX
    1957

37th

ABC

Aug. 1,
    2006 (c)

Dec. 31,
    2009

VHF-4
    UHF-6

VHF-4
    UHF-6WJXT
    Jacksonville, FL
    1947

49th

None

Feb. 1,
    2013



VHF-2
    UHF-6

VHF-2
    UHF-5     (a)
    
    Source: 2007/2008 DMA Market
    Rankings, Nielsen Media Research, Fall 2007, based on television
    homes in DMA (see note (b) below).(b)
    
    Designated Market Area
    (DMA) is a market designation of A.C. Nielsen that
    defines each television market exclusive of another, based on
    measured viewing patterns. References to stations that are
    operating in each market are to stations that are broadcasting
    analog signals. However, most of the stations in these markets
    are also engaged in digital broadcasting using the FCC-assigned
    channels for DTV operations.(c)
    
    The Company has filed timely
    applications to renew the FCC licenses of KPRC and KSAT. For
    each of these renewal applications, an objection was filed, and
    the FCC will resolve these objections when it acts on the
    applications. The Companys timely filing of the
    applications extended the effectiveness of each stations
    existing license until the renewal application is acted upon.
    The Company does not believe, based on its assessment of the
    objections filed, that either license renewal application will
    be denied.    24-hour 24-hour
  Regulation of
    Broadcasting and Related Matters
      Digital Television.
   THE WASHINGTON POST
    COMPANY




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of lower-definition television
    programming (multicasting), and that also is capable
    of accommodating subscription video and data services known as
    ancillary and supplementary services. Broadcasters
    may offer a combination of services as long as they transmit at
    least one stream of free video programming on the DTV channel.
    Broadcasters that offer ancillary and supplementary services
    must pay a fee to the FCC of 5% of the gross revenues generated
    from such services. No Company station currently offers
    ancillary and supplementary services.
          Public Interest Obligations.
  Childrens Programming
    Obligations.
   2007 FORM 10-K




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Closed Captioning.
  Carriage of Local Broadcast
    Signals.
      out-of-market
  Ownership Limits.
   THE WASHINGTON POST
    COMPANY




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case-by-case
      Political Advertising. Federal Election
    Commission Wisconsin Right to Life, Inc.
    Broadcast Indecency.
     2007 FORM 10-K




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station WDIV included indecent
    material. The Company responded to each of the notices by letter
    to the FCC denying that the programs identified in the
    complaints were indecent, and these matters remain pending. In
    addition, the Company was notified on January 25, 2008 that
    the FCC had proposed a monetary forfeiture against station KSAT,
    along with 51 other television stations, in connection with the
    stations broadcast of an allegedly indecent scene in an
    episode of the drama NYPD Blue.
  Sponsorship Identification
    Issues.
        Magazine
    Publishing
  Newsweek
  Newsweek Newsweek
  Newsweek Newsweek Newsweek, Time U.S. News & World
    Report Newsweek Newsweek
  Newsweek Newsweek
  Newsweek Newsweek Newsweek
   THE WASHINGTON POST
    COMPANY




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##### Table of Contents



commensurate with the percentage
    decline in the average weekly domestic rate base; such rates
    were increased again, also by an average of approximately 5.0%.
  Newsweek English-language Newsweek
  Newsweek The Bulletin, The Bulletin with Newsweek Japanese-language Newsweek, Newsweek Nihon Ban, Newsweek Hankuk Pan, Korean-language Newsweek, Newsweek en Español, Spanish-language Newsweek Newsweek Bil Logha Al-Arabia, Arabic-language Newsweek, Newsweek Polska, Polish-language Russky Newsweek, Russian-language Newsweek Newsweek Select, Chinese-language Newsweek The Bulletin foreign-language Newsweek
  Newsweek, Newsweek
  Arthur Frommers Budget Travel Budget Travel
  Cable Television
    Operations
  over-the-air
         2007 FORM 10-K




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(which each currently serve more
    than 80,000 basic video subscribers) are located on the Gulf
    Coast of Mississippi and in the Boise, ID, area.
    15-year 10-year
  Regulation of
    Cable Television and Related Matters
    Cable
    Television
    Franchising.
  Rate Regulation. pay-per-view
  Must-Carry and Retransmission
    Consent.
   THE WASHINGTON POST
    COMPANY




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Digital Television. and/or
  Pole Attachments.
  Federal Copyright Issues.
   2007 FORM 10-K




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network-affiliated stations
    contained in the original compulsory license for DBS operators.
    In September 2006, the U.S. Copyright Office requested
    comments concerning the appropriate treatment of imported
    digital television broadcast signals, including comments
    addressing the question of whether the same compulsory license
    fees that apply to imported analog signals should apply to
    imported digital signals that incorporate multiple program
    streams.
  and/or
  Telephone Company Competition.
  Wireless Services. over-the-air
   THE WASHINGTON POST
    COMPANY




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##### Table of Contents



spectrum currently used for analog
    television broadcasting. The precise use of that spectrum has
    not yet been determined; however, it could be used to deliver
    content and services that could compete with Cable ONEs
    content and services.
  Ownership Limits.
    Set-Top Boxes.
  Other Requirements.
       2007 FORM 10-K




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Long-standing
  Internet Access
    Services
    peer-to-peer
  e-mail.
  Voice
    Services
  Voice Over Internet Protocol.
     THE WASHINGTON POST
    COMPANY




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##### Table of Contents



interstate services subject
    exclusively to the FCCs federal jurisdiction. This
    decision was upheld on appeal, although the court held that the
    FCCs order did not squarely address the classification of
    cable-provided VoIP services. The FCC has an ongoing proceeding
    to consider whether VoIP services provided by cable companies
    are properly classified as an information service,
    telecommunications service or some new category.
    This determination could have numerous regulatory implications
    for cable companies that provide VoIP services, including, as
    discussed above, whether they have to pay higher pole attachment
    rates because of their provision of VoIP services. Legislation
    also has been introduced in Congress to address the
    classification and regulatory obligations of VoIP providers,
    though the prospect for passage of such legislation is uncertain.
  Emergency 911 Services.
  CALEA.
  Universal Service.
  CPNI.
  Access for Persons with
    Disabilities.
  Regulatory Fees.
  Local Number Portability.
  Other
    Activities
  CourseAdvisor,
    Inc.
     2007 FORM 10-K




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leads for the post-secondary
    education market. CourseAdvisor operates as an independent
    subsidiary of the Company.
  Bowater Mersey
    Paper Company
    Production and
    Raw Materials
   The Washington Post, Express El Tiempo Latino The
    Herald, The Enterprise Newspapers, SCBJ La Raza del Noroeste The Gazette
    Newspapers Southern Maryland Newspapers The Post
  The Washington Post, Express El Tiempo
    Latino The Post
  The Washington Post The Washington Post
  Newsweek Newsweek The Bulletin Newsweek Time. Budget Travel
    *
    All references in this
    report to newsprint tonnage and prices refer to short tons
    (2,000 pounds) and not to metric tons (2,204.6 pounds), which
    are often used in newsprint quotations.
   THE WASHINGTON POST
    COMPANY




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PostNewsweek Media, Inc.
    includes recycled content. The domestic edition of Newsweekconsumed about 26,000 tons of paper in 2007, the bulk of
    which was purchased from six major suppliers. The current cost
    of body paper (the principal paper component of the magazine) is
    approximately $1,035 per ton.
  Newsweek Budget Travel
  Competition
  not-for-profit
  The Washington Post The Washington
    Times, The Post The
    Post Express
     2007 FORM 10-K




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addition, the role of the free
    classified board as a center for community information has been
    expanded by hyper local neighborhood sites, such as
    dcurbanmom.com (which provides community information to mothers
    in the Washington, D.C., metro area). Some free classified
    sites, such as Oodle and Indeed, feature databases populated
    with listings indexed from other publishers classified
    sites. Google Base is taking a somewhat different approach and
    is accepting free uploads of any type of structured data, from
    classified listings to an individuals favorite recipes.
    For its part, Slatecompetes for readers with many other
    political and lifestyle publications, both online and in print,
    and competes for advertising revenue with those publications, as
    well as with a wide variety of other print publications and
    online services, plus other forms of advertising.
  The Herald Seattle Times Seattle Post-Intelligencer, The Enterprise Newspapers Seattle Times The Journal
    Newspapers, The Herald The Enterprise
    Newspapers La Raza del Noroeste Spanish-language El Mundo Seattle Latino, Spanish-language Snohomish County Business
    Journal Puget Sound Business Journal, Parent Map Seattles Child
  The Gazette Newspapers The Gazette Newspapers The Potomac Bethesda/Chevy Chase Almanacs, The Western Montgomery
    Bulletin, The Bowie Blade-News, The West County News The Laurel Leader, The Montgomery Sentinel, The Prince
    Georges Sentinel, The Frederick News-Post Carroll
    County Times, Southern Maryland Newspapers Calvert County Independent St. Marys Today,
  The
    Montgomery, Prince Georges Northern Virginia
    Journals, The Journal The Washington Examiner, The Washington Examiner The Washington Examiner The Gazette Newspapers,
    Express The Washington Post. The Baltimore Examiner,
    El Tiempo Latino Spanish-language Spanish-language
  out-of-market pay-per-view pay-per-view
   THE WASHINGTON POST
    COMPANY




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DBS operators the ability to
    distribute the signals of local television stations to
    subscribers in the stations local market area
    (local-into-local service), subject to obtaining the
    consent of each local television station included in such a
    service. Under an FCC rule implementing provisions of this act,
    DBS operators are required to carry the analog signals of all
    full-power television stations that request such carriage in the
    markets in which the DBS operators have chosen to offer
    local-into-local service. The FCC has also adopted rules that
    require certain program-blackout rules applicable to cable
    television to be applied to DBS operators. In addition, the
    Satellite Home Viewer Improvement Act and subsequent legislation
    continued restrictions on the transmission of distant network
    stations by DBS operators. Thus, DBS operators generally are
    prohibited from delivering the signals of distant network
    stations to subscribers who can receive the analog signal of the
    networks local affiliate. Several lawsuits were filed
    beginning in 1996 in which plaintiffs (including all four major
    broadcast networks and network-affiliated stations, including
    one of the Companys Florida stations) alleged that certain
    DBS operators had not been complying with the prohibition on
    delivering network signals to households that can receive the
    analog signal of the local network affiliate over the air. The
    plaintiffs entered into a settlement with DBS operator DirecTV,
    under which it agreed to discontinue distant network service to
    certain subscribers and alter the method by which it determines
    eligibility for this service. In 2003, the plaintiffs obtained a
    favorable verdict and an injunction against DBS operator
    EchoStar, and those actions were upheld by the U.S. Court
    of Appeals for the Eleventh Circuit in May 2006. In October
    2006, the lower court issued an order enjoining EchoStar from
    providing the signals of
    out-of-market
    affiliates of the major broadcast networks to its subscribers
    (including, as permitted by the relevant statute, subscribers
    who EchoStar could have provided signals to had it not violated
    the importation restrictions) after December 1, 2006.
    EchoStar did stop providing those signals, but leased satellite
    capacity to a third party who announced that it would provide
    distant network signals to those EchoStar customers who would
    have been entitled to receive them from EchoStar absent the
    court order. That arrangement is currently being challenged in
    court by the networks. In addition to the matters discussed
    above, the Companys television stations may also become
    subject to increased competition from low-power television
    stations, wireless cable services and satellite master antenna
    systems (which can carry pay-cable and similar program
    material). Beginning in late 2005, the ABC and NBC television
    networks and the MTV cable network began to make certain of
    their television programming available on a
    fee-per-episode
    basis for downloading over the Internet to video-enabled iPod
    players. In 2006, Google launched a service that distributes
    certain programming from the CBS television network, the
    National Basketball Association and other sources for viewing on
    personal computers, as well as on portable video players. Google
    charges a fee for some of the programming available on its
    service while other programming is provided free. Major TV
    networks have started to offer some of their programming on
    their Internet sites, in some cases free of charge. In September
    2006, Apple Computer, Inc. announced a new device (initially
    referred to as iTV) that will display programming
    downloaded over the Internet on television sets, and other
    vendors have begun to offer similar devices. If these
    video-download services become popular, they could become a
    competitive factor for both the Companys television
    stations and, with respect to the conventional delivery of
    television programming, the Companys cable television
    systems. Such services might also present additional revenue
    opportunities for the Companys television stations from
    the possible distribution on such services of the stations
    news and other local programming.
     2007 FORM 10-K




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systems have also been partially
    or substantially overbuilt using conventional cable system
    technology by various small to mid-sized independent telephone
    companies, which typically offer cable modem and telephone
    service, as well as basic cable service. The Company anticipates
    that some overbuilding of its cable systems will continue,
    although it cannot predict the rate at which overbuilding will
    occur. Even without constructing their own cable plant, local
    telephone companies can also compete with cable television
    systems in the delivery of high-speed Internet access by
    providing DSL service. In addition, some telephone companies
    have entered into strategic partnerships with DBS operators that
    permit the telephone company to package the video programming
    services of the DBS operator with the telephone companys
    own DSL service, thereby competing with the video programming
    and cable modem services being offered by existing cable
    television systems. Finally, it now seems clear that telephone
    companies and others will be able to compete with cable
    television systems in providing high-speed Internet access over
    large areas by constructing wireless networks based on WiMAX and
    other advanced transmission standards. Cable ONE
    distinguishes itself from its competition by attaining very high
    levels of customer satisfaction.
  Newsweek Newsweek
    Executive
    Officers
    The
    Washington Post
    The Washington Post The Washington Post The Washington
    Post
  Newsweek Newsweek
    The Washington Post, The Post
  Employees
       THE WASHINGTON POST
    COMPANY




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periods, Kaplans part-time
    workforce exceeds 16,000 employees. About 15 of
    Kaplans employees in New Zealand are subject to a
    collective employment agreement that expired on
    December 31, 2007. No other Kaplan employees are
    represented by unions.
  The Washington
    Post
              Forward-Looking
    Statements
  Form 10-K Form 10-K,
   2007 FORM 10-K




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events to differ materially from
    those anticipated in such statements. Accordingly, undue
    reliance should not be placed on any forward-looking statement
    made by or on behalf of the Company. The Company assumes no
    obligation to update any forward-looking statement after the
    date on which such statement is made, even if new information
    subsequently becomes available.
  Available
    Information
  www.washpostco.com. Form 10-K, Form 10-Q, Form 8-K Form 10-K
  Item 1A.
    Risk Factors.
    
    Reductions in the Amount of Funds Available to Students,
    including under the Federal Title IV Programs, in
    Kaplans Higher Education Schools Or Changes in the Terms
    on Which Such Funds Are Made Available    
    Tighter Lending Standards Imposed by Private Lenders    
    Failure to Maintain Institutional Accreditation Could Lead to
    Loss of Ability to Participate in Title IV Programs    
    Failure to Maintain State Authorizations Could Cause Loss of
    Ability to Operate and to Participate in Title IV Programs
    in Some States  Kaplan Higher Education ground campuses and online university
    are authorized to operate and to grant degrees, certificates or
    diplomas by the applicable state agency of each state where such
    authorization is required. Such state authorization is required
    for each campus located in the state or, in the case of states
    that require it, for Kaplan University online to offer
    post-secondary education. In either case, state authorization is
    required for students at   THE WASHINGTON POST
    COMPANY




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Higher Education campuses or
    enrolled in online programs to be eligible to participate in
    Title IV programs. The loss of such authorization would
    preclude the campuses or online university from offering
    post-secondary education and render students ineligible to
    participate in Title IV programs. Loss of authorization at
    those state campus locations or, in states that require it for
    Kaplan University online, could have a material adverse effect
    on Kaplan Higher Educations business.  
    Changes in the Extent to Which Standardized Tests Are Used in
    the Admissions Process by Colleges or Graduate Schools    
    Changes in the Extent to Which Licensing and Proficiency
    Examinations Are Used to Qualify Individuals to Pursue Certain
    Careers    
    Failure to Successfully Assimilate Acquired Businesses    
    Difficulties of Managing Foreign Operations    
    Changes in Prevailing Economic Conditions, Particularly in the
    Specific Geographic Markets Served by the Companys
    Newspaper Publishing and Television Broadcasting Businesses    
    Changing Preferences of Readers Or Viewers Away From Traditional
    Media Outlets     2007 FORM 10-K




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
    Changing Perceptions About the Effectiveness of Publishing and
    Television Broadcasting in Delivering Advertising    
    Increased Competition Resulting From Technological Innovations
    in News, Information and Video Programming Distribution Systems    
    Changes in the Nature and Extent of Government Regulations,
    Particularly in the Case of Television Broadcasting and Cable
    Television    
    Potential Liability for Patent Infringement in Cable Industry    
    Changes in the Cost Or Availability of Raw Materials,
    Particularly Newsprint    Item 1B.
    Unresolved Staff Comments.
    Item 2.
    Properties.
     THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



instructional space in London of
    33,000 square feet (which lease will expire in 2033),
    21,000 square feet (which lease will expire in
    2015) and office and instructional space in Birmingham of
    23,000 square feet (which lease will expire in 2017). Kidum
    has 52 locations throughout Israel, all of which are occupied
    under leases that will expire between 2008 and 2012. All other
    Kaplan facilities in the United States and overseas (including
    administrative offices and instructional locations) also occupy
    leased premises.
  The Washington Post The
    Post The Post
  17-acre
    seven-acre The Gazette
    15-year long-term Budget
    Travel
     2007 FORM 10-K




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##### Table of Contents



The Washington Post
  Slate
    Item 3.
    Legal Proceedings.
        Item 4.
    Submission of Matters to a Vote of Security Holders.
     THE WASHINGTON POST
    COMPANY




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##### Table of Contents



PART II
  Item 5.
    Market for the Registrants Common Equity, Related
    Stockholder Matters and Issuer Purchases of Equity
    Securities.
  Market
    Information and Holders
      2007


2006Quarter

High


Low


High


LowJanuary  March

$
796


$
727


$
805


$
717April  June


779



731



815



737July  September


885



753



780



690October  December


880



727



766



713     Dividend
    Information
    Securities
    Authorized for Issuance Under Equity Compensation
    Plans
    Number of SecuritiesRemaining Available forNumber of Securities to





Future Issuance UnderBe Issued Upon





Equity CompensationExercise of Outstanding


Weighted-Average Exercise


Plans (ExcludingOptions, Warrants and


Price of Outstanding Options


Securities Reflected inRights


Warrants and Rights


Column (a))Plan Category

(a)


(b)


(c)Equity compensation plans approved by security holders


92,275


$
606.89



287,500Equity compensation plans not approved by security holders










Total


92,275


$
606.89



287,500        2007 FORM 10-K




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##### Table of Contents



Performance
    Graph
    
  December 31

2002


2003


2004


2005


2006


2007The Washington Post Company


100



108.10



135.34



106.25



104.62



112.21S&P 500 Index


100



128.68



142.69



149.70



173.34



182.86S&P Publishing Index


100



118.80



115.38



100.68



116.10



87.18Education Peer Group


100



164.21



170.90



140.81



117.59



185.89   Item 6.
    Selected Financial Data.
  Form 10-K Form 10-K).
  Item 7.
    Managements Discussion and Analysis of Financial Condition
    and Results of Operations.
  Form 10-K
   THE WASHINGTON POST
    COMPANY




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##### Table of Contents



Item 7A.
    Quantitative and Qualitative Disclosures About Market
    Risk.
    Equity Price
    Risk
      Value of Common Stock Investments

Value of Common Stock InvestmentsAssuming Indicated Decrease in

Assuming Indicated Increase inEach Stocks Price

Each Stocks Price−30%

−20%

−10%

+10%

+20%

+30%$
328,621,000


$
375,567,000


$
422,513,000


$
516,405,000


$
563,351,000


$
610,297,000   Interest Rate
    Risk
      Foreign Exchange
    Rate Risk
    Item 8.
    Financial Statements and Supplementary Data.
     2007 FORM 10-K




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##### Table of Contents



Consolidated Financial Statements
    titled Summary of Quarterly Operating Results and
    Comprehensive Income (Unaudited), which are included in
    this Annual Report on
    Form 10-K
    and listed in the index to financial information on page 39
    hereof.
  Item 9.
    Changes in and Disagreements With Accountants on Accounting and
    Financial Disclosure.
    Item 9A.
    Controls and Procedures.
  Disclosure
    Controls and Procedures
  Rules 13a-15(e) 15d-15(e)),
  Managements
    Report on Internal Control Over Financial Reporting
  Rules 13a-15(f) 15d-15(f)).
    Internal
    Control  Integrated Framework.
  Changes in
    Internal Control Over Financial Reporting
      Item 9B.
    Other Information.
     THE WASHINGTON POST
    COMPANY




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##### Table of Contents



PART III
  Item 10.
    Directors, Executive Officers and Corporate
    Governance.
    Regulation S-K www.washpostco.com, Form 8-K
  Form 10-K,
  Item 11.
    Executive Compensation.
    Item 12.
    Security Ownership of Certain Beneficial Owners and Management
    and Related Stockholder Matters.
    Item 13.
    Certain Relationships and Related Transactions, and Director
    Independence.
    Item 14.
    Principal Accounting Fees and Services.
    PART IV
  Item 15.
    Exhibits, Financial Statement Schedules.
    Financial Statements
    Financial Statement Schedules
    Exhibits
     2007 FORM 10-K




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##### Table of Contents



SIGNATURES
  Pursuant to the requirements of Section 13 or 15(d) of
    the Securities Exchange Act of 1934, the Registrant has duly
    caused this report to be signed on its behalf by the
    undersigned, thereunto duly authorized, on February 27,
    2008.
  THE WASHINGTON POST COMPANY
 (Registrant)
  By
    /s/  John
    B. Morse, Jr.  John B. Morse, Jr.
 Vice PresidentFinance
  Pursuant to the requirements of the Securities Exchange Act
    of 1934, this report has been signed below by the following
    persons on behalf of the Registrant and in the capacities
    indicated on February 27, 2008:
  Donald
    E. Graham

Chairman of the Board and Chief Executive
    Officer  (Principal Executive Officer) and
    DirectorJohn
    B. Morse, Jr.

Vice President--Finance (Principal Financial
    and Accounting Officer)Lee C.
    Bollinger

DirectorWarren
    E. Buffett

DirectorChristopher
    C. Davis

DirectorBarry
    Diller

DirectorJohn
    L. Dotson Jr.

DirectorMelinda
    French Gates

DirectorThomas
    S. Gayner

DirectorAnne
    M. Mulcahy

DirectorRonald
    L. Olson

DirectorRichard
    D. Simmons

Director   By
    /s/  John
    B. Morse, Jr.  John B. Morse, Jr.
 Attorney-in-Fact
     THE WASHINGTON POST
    COMPANY




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##### Table of Contents



INDEX TO
    FINANCIAL INFORMATION
    THE WASHINGTON
    POST COMPANY
   Managements Discussion and Analysis of Results of
    Operations and Financial Condition (Unaudited)


40Financial Statements and Schedules:Report of Independent Registered Public Accounting Firm


54Consolidated Statements of Income and Consolidated Statements of
    Comprehensive Income for the Three Fiscal Years Ended
    December 30, 2007


55Consolidated Balance Sheets at December 30, 2007 and
    December 31, 2006


56Consolidated Statements of Cash Flows for the Three Fiscal Years
    Ended December 30, 2007


58Consolidated Statements of Changes in Common Shareholders
    Equity for the Three Fiscal Years Ended December 30, 2007


59Notes to Consolidated Financial Statements


60Financial Statement Schedule for the Three Fiscal Years Ended
    December 30, 2007:II  Valuation and Qualifying Accounts


83Ten-Year Summary of Selected Historical Financial Data
    (Unaudited)


84        2007 FORM 10-K




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##### Table of Contents



MANAGEMENTS
    DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL
    CONDITION
    OVERVIEW
      English-language
         THE WASHINGTON POST
    COMPANY




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##### Table of Contents



RESULTS OF
    OPERATIONS  2007 COMPARED TO 2006
      
    A charge of $6.6 million ($0.70 per share) in additional
    income tax expense, net, as the result of a $12.9 million
    increase in taxes associated with Bowater Mersey, offset by a
    tax benefit of $6.3 million associated with recent changes
    in certain state income tax laws. Both of these are non-cash
    items in 2007, impacting the Companys long-term net
    deferred income tax liabilities;  
    Expenses of $11.2 million (after-tax impact of
    $6.7 million, or $0.70 per share) related to lease
    obligations, severance and accelerated depreciation of fixed
    assets in connection with Kaplans restructuring of the
    Score! business;  
    A charge of $6.0 million (after-tax impact of
    $3.6 million, or $0.38 per share) related to the write-off
    of an integrated software product under development, and
    severance costs in connection with Kaplans restructuring
    of the Kaplan Professional (U.S.) businesses; and  
    A gain of $9.5 million from the sale of property at the
    Companys television station in Miami (after-tax impact of
    $5.9 million, or $0.62 per share);    
    Charges of $50.9 million related to early retirement plan
    buyouts (after-tax impact of $31.7 million, or $3.30 per
    share);  
    A non-operating write-down of $14.2 million of a marketable
    equity security (after-tax impact of $9.0 million, or $0.94
    per share);  
    A charge of $13.0 million related to an agreement to settle
    a lawsuit at Kaplan (after-tax impact of $8.3 million, or
    $0.86 per share);  
    A goodwill impairment charge of $9.9 million at
    PostNewsweek Tech Media and a $1.5 million loss on the sale
    of PostNewsweek Tech Media, which was part of the magazine
    publishing segment (after-tax impact of $7.3 million, or
    $0.75 per share);  
    Transition costs and operating losses at Kaplan related to
    acquisitions and
    start-ups
    for 2006 of $11.9 million (after-tax impact of
    $8.0 million, or $0.83 per share);  
    A charge for the cumulative effect of a change in accounting for
    Kaplan equity awards (after-tax impact of $5.1 million, or
    $0.53 per share) in connection with the Companys adoption
    of Statement of Financial Accounting Standards No. 123R
    (SFAS 123R), Share-Based Payment;  
    A non-operating gain of $43.2 million on the sale of
    BrassRing, in which the Company held a 49% interest (after-tax
    impact of $27.4 million, or $2.86 per share);  
    Insurance recoveries of $10.4 million from cable division
    losses related to Hurricane Katrina (after-tax impact of
    $6.4 million, or $0.67 per share); and  
    Non-operating gains of $33.8 million from sales of
    marketable equity securities for the year (after-tax impact of
    $21.1 million, or $2.19 per share).         2007 FORM 10-K




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##### Table of Contents



DIVISION RESULTS
  Education Division.
    (in thousands)

2007


2006


% ChangeRevenueHigher education

$
1,021,595


$
855,757



19Test prep


569,316



457,293



24Professional


439,720



371,091



18Kaplan corporate


1,261







Intersegment elimination


(1,003
)






$
2,030,889


$
1,684,141



21Operating income (loss)Higher education

$
125,629


$
100,690



25Test prep


71,316



77,632



(8
)Professional


41,073



35,503



16Kaplan corporate


(32,773
)


(50,726
)


35Other


(55,964
)


(32,910
)


(70
)Intersegment elimination


(244
)






$
149,037


$
130,189



14     English-language
       THE WASHINGTON POST
    COMPANY




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##### Table of Contents



Newspaper Publishing Division.
        Television Broadcasting Division.
        Magazine Publishing Division.
     2007 FORM 10-K




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##### Table of Contents



Cable Television Division.
      Cable Television Division

December 31,


December 31,Subscribers

2007


2006Basic


702,669



693,550Digital


223,931



213,873High-speed data


341,034



289,010Telephony


58,640



2,925Total


1,326,274



1,199,358       2007


2006Customer premise equipment

$
52.5


$
49.7Commercial






0.1Scalable infrastructure


20.6



24.4Line extensions


21.1



19.4Upgrade/rebuild


12.8



9.5Support capital


31.3



39.4Total

$
138.3


$
142.5   Other Businesses and Corporate Office.
    Equity in Earnings (Losses) of Affiliates.
  Non-Operating Items.
   THE WASHINGTON POST
    COMPANY




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##### Table of Contents



2007


2006Foreign currency gains

$
8.8


$
11.9Gain on sales of marketable equity securities


0.4



33.8Gain on sale of affiliate






43.2Impairment write-downs on investments






(15.1
)Other gains (losses)


1.6



(0.3
)Total

$
10.8


$
73.5     Income Taxes.
  Cumulative Effect of Change in Accounting
    Principle.
  RESULTS OF
    OPERATIONS  2006 COMPARED TO 2005
      
    Charges of $50.9 million related to early retirement plan
    buyouts (after-tax impact of $31.7 million, or $3.30 per
    share);  
    A non-operating write-down of $14.2 million of a marketable
    equity security (after-tax impact of $9.0 million, or $0.94
    per share);  
    A charge of $13.0 million related to an agreement to settle
    a lawsuit at Kaplan (after-tax impact of $8.3 million, or
    $0.86 per share);  
    A goodwill impairment charge of $9.9 million at
    PostNewsweek Tech Media and a $1.5 million loss on the sale
    of PostNewsweek Tech Media, which was part of the magazine
    publishing segment (after-tax impact of $7.3 million, or
    $0.75 per share);  
    Transition costs and operating losses at Kaplan related to
    acquisitions and
    start-ups
    for 2006 of $11.9 million (after-tax impact of
    $8.0 million, or $0.83 per share);  
    A charge for the cumulative effect of a change in accounting for
    Kaplan equity awards (after-tax impact of $5.1 million, or
    $0.53 per share) in connection with the Companys adoption
    of Statement of Financial Accounting Standards No. 123R
    (SFAS 123R), Share-Based Payment;  
    A non-operating gain of $43.2 million on the sale of
    BrassRing, in which the Company held a 49% interest (after-tax
    impact of $27.4 million, or $2.86 per share);  
    Insurance recoveries of $10.4 million from cable division
    losses related to Hurricane Katrina (after-tax impact of
    $6.4 million, or $0.67 per share); and  
    Non-operating gains of $33.8 million from sales of
    marketable equity securities for the year (after-tax impact of
    $21.1 million, or $2.19 per share).    
    Charges and lost revenue associated with Hurricane Katrina and
    other hurricanes; estimated adverse impact on operating income
    of $27.5 million (after-tax impact of $17.3 million,
    or $1.80 per share) primarily at the cable division, but also at
    the television broadcasting and education divisions; and  
    Non-operating gains of $17.8 million from the sales of
    non-operating land and marketable securities (after-tax impact
    of $11.2 million, or $1.16 per share).     2007 FORM 10-K




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##### Table of Contents



DIVISION
    RESULTS
  Education Division. start-ups;
  English-language start-ups.
    (In thousands)

2006


2005


% ChangeRevenueHigher education

$
855,757


$
707,966



21Test prep


457,293



391,456



17Professional


371,091



312,972



19$
1,684,141


$
1,412,394



19Operating income (loss)Higher education

$
100,690


$
77,728



30Test prep


77,632



75,940



2Professional


35,503



46,067



(23
)Kaplan corporate


(50,726
)


(33,305
)


(52
)Other


(32,910
)


(8,595
)


$
130,189


$
157,835



(18
)     English-language English-language
   THE WASHINGTON POST
    COMPANY




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##### Table of Contents



Newspaper Publishing Division.
        Television Broadcasting Division.
      Magazine Publishing Division.
     2007 FORM 10-K




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##### Table of Contents



Cable Television Division. 30-day
  30-day
      Cable Television Division

December 31,


December 31,Subscribers

2006


2005*Gulf Coast RegionBasic


84,531



72,770Digital


31,686



27,501High-speed data


36,335



24,049Telephony






Total


152,552



124,320All Other RegionsBasic


609,019



616,408Digital


182,187



186,900High-speed data


252,675



210,012Telephony


2,925



Total


1,046,806



1,013,320TotalBasic


693,550



689,178Digital


213,873



214,401High-speed data


289,010



234,061Telephony


2,925



Total


1,199,358



1,137,640     *
    
    Gulf Coast region subscriber
    figures as of December 31, 2005 are estimated and reflect a
    21,400, 7,700 and 3,100 decline, respectively, in estimated
    basic, digital and high-speed data subscribers due to Hurricane
    Katrina.      2006


2005Customer premise equipment

$
49.7


$
30.0Commercial


0.1



0.2Scalable infrastructure


24.4



8.1Line extensions


19.4



14.6Upgrade/rebuild


9.5



13.1Support capital


39.4



45.3Total

$
142.5


$
111.3   Corporate Office.
   THE WASHINGTON POST
    COMPANY




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##### Table of Contents



Equity in Earnings (Losses) of Affiliates.
  Non-Operating Items.
    2006


2005Gain on sale of affiliate

$
43.2


$
Gain on sales of marketable equity securities


33.8



12.7Foreign currency gains (losses), net


11.9



(8.1
)Impairment write-downs on investments


(15.1
)


(1.5
)Gain on sales of non-operating land






5.1Other (losses) gains


(0.3
)


0.8Total

$
73.5


$
9.0     Income Taxes.
  Cumulative Effect of Change in Accounting
    Principle.
  FINANCIAL
    CONDITION: CAPITAL RESOURCES AND LIQUIDITY
  Acquisitions and Dispositions.
           2007 FORM 10-K




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##### Table of Contents



English-language
      Capital Expenditures.
  Investments in Marketable Equity Securities.
      Common Stock Repurchases and Dividend Rate.
  Liquidity.
      364-day 5-year 5-year
       THE WASHINGTON POST
    COMPANY




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##### Table of Contents



Contractual Obligations(in thousands)2008


2009


2010


2011


2012


Thereafter


TotalDebt and interest

$
111,585


$
411,700


$
75


$



$



$



$
523,360Programming purchase commitments(1)


159,455



135,685



113,309



103,640



68,906



107,252



688,247Operating leases


125,526



111,568



98,143



81,400



69,358



214,206



700,201Other purchase obligations(2)


247,070



66,614



45,500



29,079



16,107



25,500



429,870Long-term liabilities(3)


5,513



5,253



6,208



7,163



8,118



63,248



95,503Total

$
649,149


$
730,820


$
263,235


$
221,282


$
162,489


$
410,206


$
2,437,181     (1)
    
    Includes commitments for the
    Companys television broadcasting and cable television
    businesses that are reflected in the Companys Consolidated
    Balance Sheets and commitments to purchase programming to be
    produced in future years.(2)
    
    Includes purchase obligations
    related to newsprint contracts, printing contracts, employment
    agreements, circulation distribution agreements, capital
    projects and other legally binding commitments. Other purchase
    orders made in the ordinary course of business are excluded from
    the table above. Any amounts for which the Company is liable
    under purchase orders are reflected in the Companys
    Consolidated Balance Sheets as Accounts payable and
    accrued liabilities.(3)
    
    Primarily made up of postretirement
    benefit obligations other than pensions. The Company has other
    long-term liabilities excluded from the table above, including
    obligations for deferred compensation, long-term incentive plans
    and long-term deferred revenue.  Other Commercial Commitments(in thousands)Fiscal Year



Line of Credit2008

$
2009


2010


2011


500,0002012


Thereafter


Total

$
500,000   Other.
  CRITICAL
    ACCOUNTING POLICIES AND ESTIMATES
      Revenue Recognition and Trade Accounts Receivable,
    Less Estimated Returns, Doubtful Accounts and
    Allowances.
    Pension Costs.
   2007 FORM 10-K




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##### Table of Contents



$16.1 million compared to
    2005, largely due to this change. At December 31, 2006, the
    Company raised its discount rate assumption from 5.75% to 6.0%;
    the pension credit for 2007 increased slightly compared to 2006.
    At December 30, 2007, the discount rate and expected rate
    of return assumptions will remain at 6.0% and 6.5%,
    respectively. The pension credit for 2008 is expected to
    increase by approximately $4.0 million compared to 2007, as
    a result of higher than expected investment returns on plan
    assets in 2007. For each one-half percent increase or decrease
    to the Companys assumed expected return on plan assets,
    the pension credit increases or decreases by approximately
    $8 million. For each one-half percent increase or decrease
    to the Companys assumed discount rate, the pension credit
    increases or decreases by approximately $2 million. The
    Companys actual rate of return on plan assets was 7.7% in
    2007, 9.0% in 2006 and 7.6% in 2005, based on plan assets at the
    beginning of each year.
    Kaplan Stock Compensation.
      30-day
       THE WASHINGTON POST
    COMPANY




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##### Table of Contents



Goodwill and Other Intangibles.
  OTHER
  New Accounting Pronouncements.
         2007 FORM 10-K




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##### Table of Contents





REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
     Internal Control  Integrated Framework
              THE WASHINGTON POST
    COMPANY




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##### Table of Contents



CONSOLIDATED
    STATEMENTS OF INCOME
  Fiscal Year EndedDecember 30,


December 31,


January 1,(in thousands, except per share amounts)

2007


2006


2006Operating RevenuesEducation

$
2,030,889


$
1,684,141


$
1,412,394Advertising


1,234,643



1,358,739



1,317,484Circulation and subscriber


817,807



772,250



740,004Other


97,067



89,797



84,0054,180,406



3,904,927



3,553,887Operating Costs and ExpensesOperating


1,882,984



1,738,918



1,618,231Selling, general and administrative


1,581,596



1,484,003



1,222,721Depreciation of property, plant and equipment


221,239



205,295



190,543Amortization of intangibles and goodwill impairment charge


17,571



16,907



7,4783,703,390



3,445,123



3,038,973Income from Operations


477,016



459,804



514,914Equity in earnings (losses) of affiliates


5,975



790



(881
)Interest income


11,338



10,431



3,385Interest expense


(24,046
)


(25,343
)


(26,754
)Other income (expense), net


10,824



73,452



8,980Income Before Income Taxes and Cumulative Effect of Change in
    Accounting Principle


481,107



519,134



499,644Provision for Income Taxes


192,500



189,600



185,300Income Before Cumulative Effect of Change in Accounting
    Principle


288,607



329,534



314,344Cumulative Effect of Change in Method of Accounting for
    Share-based Payments, Net of Taxes






(5,075
)


Net Income


288,607



324,459



314,344Redeemable Preferred Stock Dividends


(952
)


(981
)


(981
)Net Income Available for Common Shares

$
287,655


$
323,478


$
313,363Basic Earnings per Common Share:Before Cumulative Effect of Change in Accounting Principle

$
30.31


$
34.34


$
32.66Cumulative Effect of Change in Accounting Principle






(0.53
)


Net Income Available for Common Shares

$
30.31


$
33.81


$
32.66Diluted Earnings per Common Share:Before Cumulative Effect of Change in Accounting Principle

$
30.19


$
34.21


$
32.59Cumulative Effect of Change in Accounting Principle






(0.53
)


Net Income Available for Common Shares

$
30.19


$
33.68


$
32.59   CONSOLIDATED
    STATEMENTS OF COMPREHENSIVE INCOME
  Fiscal Year EndedDecember 30,


December 31,


January 1,(in thousands)

2007


2006


2006Net Income

$
288,607


$
324,459


$
314,344Other Comprehensive Income (Loss)Foreign currency translation adjustments


26,653



17,650



(8,834
)Change in net unrealized gain on available-for-sale securities


115,269



64,858



(15,014
)Pension and other postretirement plan adjustments


42,777







Less reclassification adjustment for realized gains included in
    net income


(394
)


(19,560
)


(13,085
)184,305



62,948



(36,933
)Income tax (expense) benefit related to other comprehensive
    income (loss)


(67,330
)


(18,997
)


10,964116,975



43,951



(25,969
)Comprehensive Income

$
405,582


$
368,410


$
288,375      2007 FORM 10-K




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##### Table of Contents



CONSOLIDATED
    BALANCE SHEETS
  December 30,


December 31,(in thousands)

2007


2006AssetsCurrent AssetsCash and cash equivalents

$
321,466


$
348,148Investments in marketable equity securities


51,678



28,923Accounts receivable, net


480,743



423,403Deferred income taxes


46,399



48,936Inventories


23,194



19,973Other current assets


71,490



65,442994,970



934,825Property, Plant and EquipmentBuildings


346,116



331,682Machinery, equipment and fixtures


2,185,920



1,939,110Leasehold improvements


239,641



204,7972,771,677



2,475,589Less accumulated depreciation


(1,596,698
)


(1,433,060
)1,174,979



1,042,529Land


49,187



42,030Construction in progress


56,571



133,7501,280,737



1,218,309Investments in Marketable Equity Securities


417,781



325,805Investments in Affiliates


102,399



64,691Goodwill, Net


1,498,237



1,240,251Indefinite-Lived Intangible Assets, Net


520,905



517,742Amortized Intangible Assets, Net


70,437



31,799Prepaid Pension Cost


1,034,789



975,292Deferred Charges and Other Assets


84,254



72,658$
6,004,509


$
5,381,372      THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



December 30,


December 31,(In thousands, except share amounts)

2007


2006Liabilities and Shareholders EquityCurrent LiabilitiesAccounts payable and accrued liabilities

$
564,744


$
517,816Income taxes


4,580



4,728Deferred revenue


354,564



283,475Short-term borrowings


89,585



5,6221,013,473



811,641Postretirement Benefits Other Than Pensions


81,041



81,337Accrued Compensation and Related Benefits


242,583



234,216Other Liabilities


84,214



81,486Deferred Income Taxes


709,694



599,487Long-Term Debt


400,519



401,5712,531,524



2,209,738Commitments and ContingenciesRedeemable Preferred Stock,Series A, $1 par
    value, with a redemption and liquidation value of $1,000 per
    share; 23,000 shares authorized; 11,826 and
    12,120 shares issued and outstanding


11,826



12,120Preferred Stock,$1 par value; 977,000 shares
    authorized, none issued






Common Shareholders EquityCommon stockClass A common stock, $1 par value;
    7,000,000 shares authorized; 1,291,693 and
    1,722,250 shares issued and outstanding


1,292



1,722Class B common stock, $1 par value;
    40,000,000 shares authorized; 18,708,307 and
    18,277,750 shares issued; 8,224,354 and
    7,813,940 shares outstanding


18,708



18,278Capital in excess of par value


217,780



205,820Retained earnings


4,329,726



4,120,143Accumulated other comprehensive income, net of taxesCumulative foreign currency translation adjustment


42,845



22,689Unrealized gain on available-for-sale securities


153,539



84,614Unrealized gain on pensions and other postretirement plans


298,152



270,258Cost of 10,483,953 and 10,463,810 shares of Class B
    common stock held in treasury


(1,600,883
)


(1,564,010
)3,461,159



3,159,514$
6,004,509


$
5,381,372      2007 FORM 10-K




---



##### Table of Contents



CONSOLIDATED
    STATEMENTS OF CASH FLOWS
  Fiscal Year EndedDecember 30,


December 31,


January 1,(In thousands)

2007


2006


2006Cash Flows from Operating Activities:Net income

$
288,607


$
324,459


$
314,344Adjustments to reconcile net income to net cash provided by
    operating activities:Cumulative effect of change in accounting principle






5,075



Depreciation of property, plant and equipment


221,239



205,295



190,543Amortization of intangible assets


17,571



7,043



7,478Goodwill impairment charge






9,864



Net pension benefit


(22,280
)


(21,833
)


(37,914
)Early retirement program expense






50,942



1,192Net loss on sale or write-down of property, plant and equipment
    and non-operating land


3,136



3,433



4,517Gain on sale of marketable equity securities


(394
)


(33,805
)


(12,661
)Foreign exchange (gain) loss


(8,790
)


(11,920
)


8,099Write-downs of marketable equity securities and other investments






15,051



1,465Gain from sale or exchange of businesses


(214
)


(41,742
)


Equity in (earnings) losses of affiliates, net of distributions


(3,820
)


110



1,731Provision for deferred income taxes


33,041



(38,234
)


29,297Change in assets and liabilities:Increase in accounts receivable, net


(42,246
)


(10,494
)


(19,416
)(Increase) decrease in inventories


(3,356
)


(4,222
)


11,483Increase (decrease) in accounts payable and accrued liabilities


97,240



51,357



(27,033
)(Decrease) increase in income taxes payable


(1,247
)


31,343



(8,139
)Decrease in other assets and other liabilities, net


3,028



55,130



53,618Other


(328
)


(2,102
)


4,168Net cash provided by operating activities


581,187



594,750



522,772Cash Flows from Investing Activities:Purchases of property, plant and equipment


(290,007
)


(284,022
)


(238,349
)Investments in certain businesses, net of cash acquired


(273,929
)


(153,696
)


(143,478
)Escrow funding for acquisition


(18,914
)






Proceeds from sale of property, plant and equipment


16,676



6,794



24,077Investments in affiliates


(15,309
)


(3,349
)


(4,981
)Purchases of cost method investments


(694
)


(8,422
)


(8,709
)Proceeds from sale of marketable equity securities


538



82,910



64,801Net proceeds from sale of businesses






76,389



Purchases of marketable equity securities






(42,888
)


Insurance proceeds from property, plant and equipment losses






9,281



Other


528



(4,267
)


Net cash used in investing activities


(581,111
)


(321,270
)


(306,639
)Cash Flows from Financing Activities:Issuance (repayment) of commercial paper, net


84,800







(50,201
)Dividends paid


(79,024
)


(75,903
)


(71,979
)Common shares repurchased


(42,031
)


(56,559
)


Proceeds from exercise of stock options


8,449



5,905



6,832Principal payments on debt


(3,578
)


(27,846
)


(6,964
)Cash overdraft


(3,070
)


4,375



6,534Other


2,697



1,285



Net cash used in financing activities


(31,757
)


(148,743
)


(115,778
)Effect of Currency Exchange Rate Change


4,999



7,550



(3,894
)Net (Decrease) Increase in Cash and Cash Equivalents


(26,682
)


132,287



96,461Cash and Cash Equivalents at Beginning of Year


348,148



215,861



119,400Cash and Cash Equivalents at End of Year

$
321,466


$
348,148


$
215,861Supplemental Cash Flow Information:Cash paid during the year for:Income taxes

$
158,100


$
194,900


$
161,600Interest

$
23,800


$
24,600


$
27,300      THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



CONSOLIDATED
    STATEMENTS OF CHANGES IN COMMON SHAREHOLDERS
    EQUITY
  UnrealizedCumulative


Unrealized


Gain onForeign


Gain on


Pensions andClass A


Class B


Capital in





Currency


Available-


OtherCommon


Common


Excess of


Retained


Translation


for-Sale


Postretirement(in thousands)

Stock


Stock


Par Value


Earnings


Adjustment


Securities


Plans


Treasury StockBalance, January 2,
    2005

$
1,722


$
18,278


$
178,951


$
3,629,222


$
13,873


$
75,448


$



$
(1,512,888
)Net income for the year














314,344Dividends paid on common stock  $7.40 per share














(70,998
)Dividends paid on redeemable preferred stock














(981
)Issuance of 25,459 shares of Class B common stock, net
    of restricted stock award forfeitures










3,138



















3,700Amortization of unearned stock compensation










5,578Change in foreign currency translation adjustment (net of taxes)


















(8,834
)Change in unrealized gain on available-for-sale securities (net
    of taxes)






















(17,135
)Stock option expense










1,101Tax benefits arising from employee stock plans










3,904Balance, January 1,
    2006


1,722



18,278



192,672



3,871,587



5,039



58,313







(1,509,188
)Net income for the year














324,459Dividends paid on common stock  $7.80 per share














(74,922
)Dividends paid on redeemable preferred stock














(981
)Repurchase of 77,300 shares of Class B common stock






























(56,559
)Issuance of 11,959 shares of Class B common stock, net
    of restricted stock award forfeitures










3,589



















1,737Amortization of unearned stock compensation










6,315Change in foreign currency translation adjustment (net of taxes)


















17,650Change in unrealized gain on available-for-sale securities (net
    of taxes)






















26,301Adjustment to initially apply SFAS 158 for pensions and
    other postretirement plans (net of taxes)


























270,258Stock option expense










1,291Tax benefits arising from employee stock plans










1,953Balance, December 31,
    2006


1,722



18,278



205,820



4,120,143



22,689



84,614



270,258



(1,564,010
)Net income for the year














288,607Dividends paid on common stock  $8.20 per share














(78,072
)Dividends paid on redeemable preferred stock














(952
)Repurchase of 54,506 shares of Class B common stock






























(42,031
)Issuance of 34,363 shares of Class B common stock, net
    of restricted stock award forfeitures










2,699



















5,158Amortization of unearned stock compensation










6,563Change in foreign currency translation adjustment (net of taxes)


















20,156Change in unrealized gain on available-for-sale securities (net
    of taxes)






















68,925Adjustment for pensions and other postretirement plans (net of
    taxes)


























27,894Stock option expense










1,225Conversion of Class A common stock to Class B common
    stock


(430
)


430Tax benefits arising from employee stock plans










1,473Balance, December 30,
    2007

$
1,292


$
18,708


$
217,780


$
4,329,726


$
42,845


$
153,539


$
298,152


$
(1,600,883
)      2007 FORM 10-K




---



##### Table of Contents



NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
  A.
    SUMMARY OF
    SIGNIFICANT ACCOUNTING POLICIES  Fiscal Year.
  Principles of Consolidation.
  Presentation.
  Use of Estimates.
  Cash Equivalents.
  Investments in Marketable Equity Securities.
  Inventories. first-in,
  Property, Plant and Equipment.
      Investments in Affiliates.
  Cost Method Investments.
  Goodwill and Other Intangibles.
  Long-Lived Assets.
   THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



Program Rights.
  Revenue Recognition.
    Pensions and Other Postretirement
    Benefits.
  Income Taxes.
  Foreign Currency Translation.
  Stock Options.
  2005Net income available for common shares, as reported

$
313,363Add: Company stock option compensation expense included in net
    income, net of related tax effects


694Deduct: Total Company stock option compensation expense
    determined under the fair-value-based method for all awards, net
    of related tax effects


(1,071
)Pro forma net income available for common shares

$
312,986Basic earnings per share, as reported

$
32.66Pro forma basic earnings per share

$
32.62Diluted earnings per share, as reported

$
32.59Pro forma diluted earnings per share

$
32.55      2007 FORM 10-K




---



##### Table of Contents



B.
    ACCOUNTS
    RECEIVABLE AND ACCOUNTS PAYABLE AND ACCRUED
    LIABILITIES    2007


2006Trade accounts receivable, less estimated returns, doubtful
    accounts and allowances of $81,903 and $86,227

$
458,594


$
400,380Other accounts receivable


22,149



23,023$
480,743


$
423,403     2007


2006Accounts payable and accrued expenses

$
339,443


$
331,783Accrued compensation and related benefits


219,332



179,991Due to affiliates (newsprint)


5,969



6,042$
564,744


$
517,816     C.
    INVESTMENTS  Investments in Marketable Equity
    Securities.
  2007


2006Total cost

$
213,561


$
213,705Net unrealized gains


255,898



141,023Total fair value

$
469,459


$
354,728         Investments in Affiliates.
    Cash and Cash Equivalents.
  D.
    ACQUISITIONS AND
    DISPOSITIONS    NJ-based
   THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



English-language
  15-year 10-year
          E.
    GOODWILL AND
    OTHER INTANGIBLE ASSETS         2007 FORM 10-K




---



##### Table of Contents



AccumulatedGross


Amortization


Net2007:Goodwill

$
1,796,639


$
298,402


$
1,498,237Indefinite-lived intangible assets


684,711



163,806



520,905Amortized intangible assets


114,663



44,226



70,437$
2,596,013


$
506,434


$
2,089,5792006:Goodwill

$
1,538,653


$
298,402


$
1,240,251Indefinite-lived intangible assets


681,548



163,806



517,742Amortized intangible assets


58,454



26,655



31,799$
2,278,655


$
488,863


$
1,789,792     Goodwill, NetForeign CurrencyBeginning of





Exchange Rate


End ofYear


Acquisitions


and Other


YearEducation

$
845,754


$
155,299


$
19,124


$
1,020,177Newspaper Publishing


79,739



472



958



81,169Television Broadcasting


203,165











203,165Magazine Publishing


25,015











25,015Cable Television


85,666











85,666Other Businesses and
    Corporate Office


912



82,133







83,045$
1,240,251


$
237,904


$
20,082


$
1,498,237   Indefinite-Lived Intangible Assets, NetBeginning of








End ofYear


Acquisitions


Other


YearEducation

$
9,262










$
9,262Newspaper PublishingTelevision BroadcastingMagazine PublishingCable Television


508,480


$
3,804


$
(641
)


511,643Other Businesses and Corporate Office$
517,742


$
3,804


$
(641
)

$
520,905   Amortized Intangible Assets, NetForeign CurrencyBeginning of


Acquisitions


Exchange Rate





End ofYear


and Additions


and Other


Amortization


YearEducation

$
25,270


$
25,691


$
530


$
(14,669
)

$
36,822Newspaper Publishing


5,508







(106
)


(1,162
)


4,240Television BroadcastingMagazine PublishingCable Television


1,021



123



379



(442
)


1,081Other Businesses and
    Corporate Office






29,592







(1,298
)


28,294$
31,799


$
55,406


$
803


$
(17,571
)

$
70,437     Goodwill, NetForeignBeginning





Currencyof





Exchange


Impairment





End ofYear


Acquisitions


Rate


Charge


Disposition


YearEducation

$
686,532


$
133,340


$
25,882










$
845,754Newspaper Publishing


79,739



















79,739Television Broadcasting


203,165



















203,165Magazine Publishing


69,556










$
(9,864
)

$
(34,677
)


25,015Cable Television


85,666



















85,666Other Businesses and
    Corporate Office


912



















912$
1,125,570


$
133,340


$
25,882


$
(9,864
)

$
(34,677
)

$
1,240,251   Indefinite-Lived IntangibleAssets, NetBeginning of





End ofYear


Acquisitions


YearEducation

$
8,362


$
900


$
9,262Newspaper PublishingTelevision BroadcastingMagazine PublishingCable Television


486,330



22,150



508,480Other Businesses and Corporate Office$
494,692


$
23,050


$
517,742   Amortized Intangible Assets, NetForeignCurrencyBeginning of


Acquisitions


Exchange





End ofYear


and Additions


Rate


Amortization


YearEducation

$
14,428


$
15,545


$
483


$
(5,186
)

$
25,270Newspaper Publishing


6,676











(1,168
)


5,508Television BroadcastingMagazine PublishingCable Television


1,710











(689
)


1,021Other Businesses and
    Corporate Office$
22,814


$
15,545


$
483


$
(7,043
)

$
31,799    THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



F.
    INCOME
    TAXES    Current


Deferred


Total2007U.S. Federal

$
132,235


$
32,673


$
164,908Foreign


10,261



1,010



11,271State and local


16,963



(642
)


16,321$
159,459


$
33,041


$
192,5002006U.S. Federal

$
193,261


$
(19,681
)

$
173,580Foreign


6,949



(1,088
)


5,861State and local


27,624



(17,465
)


10,159$
227,834


$
(38,234
)

$
189,6002005U.S. Federal

$
132,650


$
22,591


$
155,241Foreign


4,849



29



4,878State and local


18,504



6,677



25,181$
156,003


$
29,297


$
185,300       2007


2006


2005U.S. Federal statutory taxes

$
168,387


$
181,697


$
174,875State and local taxes, net of U.S. Federal income tax benefit


10,609



6,603



16,368Tax provided on foreign affiliate earnings at more (less) than
    the expected U.S. Federal statutory tax rate


13,254



(755
)


175Tax provided on foreign subsidiary earnings and distributions at
    more (less) than the expected U.S. Federal statutory tax rate


(1,777
)


190



(6,704
)Other, net


2,027



1,865



586Provision for income taxes

$
192,500


$
189,600


$
185,300       2007


2006Accrued postretirement benefits

$
33,551


$
33,640Other benefit obligations


137,626



129,909Accounts receivable


20,479



24,839State income tax loss carryforwards


10,198



12,002U.S. Federal income tax loss carryforwards


12,301



Other


27,035



27,140Deferred tax asset

$
241,190


$
227,530Property, plant and equipment


119,002



132,095Prepaid pension cost


410,590



392,253Unrealized gain on available-for-sale securities


102,369



56,419Affiliate operations


22,973



2,188Goodwill and other intangibles


249,551



195,126Deferred tax liability

$
904,485


$
778,081Deferred income taxes

$
663,295


$
550,551        2007 FORM 10-K




---



##### Table of Contents



2008

$
2.12009


10.32010


2.32011


11.72012


6.52013 to 2025


184.1Total

$
217.0           G.
    DEBT    December 30,


December 31,2007


2006Commercial paper borrowings

$
84.8


$
5.5% unsecured notes due February 15, 2009


399.7



399.4Other indebtedness


5.6



7.8Total


490.1



407.2Less current portion


(89.6
)


(5.6
)Total long-term debt

$
400.5


$
401.6     5-year
       THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



H.
    REDEEMABLE
    PREFERRED STOCK    60-day
  I.
    CAPITAL STOCK,
    STOCK AWARDS AND STOCK OPTIONS  Adoption of SFAS 123R.
  Capital Stock.
    Stock Awards.
  2007


2006


2005Number


Average


Number


Average


Number


Averageof


Award


of


Award


of


AwardShares


Price


Shares


Price


Shares


PriceBeginning of year (nonvested)


29,105


$
815.55



29,580


$
819.83



28,001


$
644.51Awarded


19,260



759.66



1,300



769.43



16,550



940.96Vested


(12,838
)


726.94



(159
)


721.32



(13,830
)


609.87Forfeited


(1,172
)


913.33



(1,616
)


866.07



(1,141
)


819.22End of year (nonvested)


34,355


$
813.99



29,105


$
815.55



29,580


$
819.83        2007 FORM 10-K




---



##### Table of Contents



Stock Options.
    2007


2006


2005Number


Average


Number


Average


Number


Averageof


Option


of


Option


of


OptionShares


Price


Shares


Price


Shares


PriceBeginning of year


109,175


$
593.82



113,325


$
572.36



122,250


$
561.05Granted










9,000



729.67



4,500



762.50Exercised


(16,275
)


519.12



(12,275
)


481.05



(12,800
)


533.24Forfeited


(625
)


609.62



(875
)


803.61



(625
)


530.87End of year


92,275


$
606.89



109,175


$
593.82



113,325


$
572.36     Options Outstanding


Options ExercisableWeighted








WeightedShares


Average


Weighted


Shares


Average


WeightedOutstanding


Remaining


Average


Exercisable


Remaining


AverageRange of

at


Contractual


Exercise


at


Contractual


ExerciseExercise Prices

12/30/2007


Life (yrs.)


Price


12/30/2007


Life (yrs.)


Price$
480


750



3.0


$
480.00



750



3.0


$
480.00503586


61,650



2.8



527.57



61,650



2.8



527.57693


500



6.0



692.51



500



6.0



692.51729763


21,875



7.2



735.98



12,937



6.2



734.78816


3,500



6.0



816.05



3,500



6.0



816.05954


4,000



7.0



953.50



3,000



7.0



953.5092,275



4.3


$
606.89



82,337



3.7


$
588.48         2006


2005Expected life (years)


7



7Interest rate


4.45
%


4.49
%Volatility


20.35
%


19.08
%Dividend yield


1.07
%


0.97
%   30-day
   THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



2007


2006


2005Number


Average


Number


Average


Number


Averageof


Option


of


Option


of


OptionShares


Price


Shares


Price


Shares


PriceBeginning of year


73,352


$
1,480.11



62,229


$
944.63



68,000


$
596.17Granted


3,262



2,115.00



29,785



1,833.00



10,582



2,080.00Exercised


(6,952
)


457.55



(18,662
)


257.73



(16,153
)


225.14Forfeited


















(200
)


652.00End of year


69,662


$
1,611.89



73,352


$
1,480.11



62,229


$
944.63           Options Outstanding


Options ExercisableWeighted





WeightedAverage





AverageShares


Remaining


Shares


RemainingOutstanding at


Contractual


Exercisable at


ContractualExercise Price

12/30/2007


Life (yrs.)


12/30/2007


Life (yrs.)$
526


10,533



3.8



10,533



3.8652


2,000



4.0



2,000



4.01,625


13,500



4.0



10,800



4.01,833


29,785



4.0



7,447



4.02,080


10,582



4.0



5,291



4.02,115


3,262



4.0







4.069,662



4.0



36,071



3.9       December 30,

December 31,2007

2006Expected life (years)

04

06Interest rate

3.05%3.34%

4.70%5.00%Volatility

34.24%45.39%

34.78%46.50%Dividend yield

0%

0%     Earnings Per Share.
   2007 FORM 10-K




---



##### Table of Contents



Fiscal Year EndedDecember 30,


December 31,


January 1,2007


2006


2006Income before cumulative effect of change in accounting
    principle, after redeemable preferred stock dividends

$
287,655


$
328,553


$
313,363Cumulative effect of change in method of accounting for
    share-based payments, net of taxes






(5,075
)


Net income available for common shares

$
287,655


$
323,478


$
313,363Weighted average shares outstanding  basic


9,492



9,568



9,594Effect of dilutive shares:Stock options and restricted stock


36



38



22Weighted average shares outstanding  diluted


9,528



9,606



9,616Basic earnings per common share:Before cumulative effect of change in accounting principle

$
30.31


$
34.34


$
32.66Cumulative effect of change in accounting principle






(0.53
)


Net income available for common shares

$
30.31


$
33.81


$
32.66Diluted earnings per common share:Before cumulative effect of change in accounting principle

$
30.19


$
34.21


$
32.59Cumulative effect of change in accounting principle






(0.53
)


Net income available for common shares

$
30.19


$
33.68


$
32.59     J.
    PENSIONS AND
    OTHER POSTRETIREMENT PLANS        Adoption of SFAS 158.
  December 31, 2006Before





AfterAdoption


Adjustment


AdoptionInvestment in affiliates

$
72,333


$
(7,642
)

$
64,691Prepaid pension cost


565,262



410,030



975,292Accounts payable and accrued liabilities


510,969



6,847



517,816Postretirement benefits other than pensions


153,701



(72,364
)


81,337Accrued compensation and related benefits


221,199



13,017



234,216Deferred tax liability


414,857



184,630



599,487Unrealized gain on pensions and other postretirement benefits






270,258



270,258     Defined Benefit Plans.
     THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



Pension Plans


SERP2007


2006


2007


2006Change in Benefit ObligationBenefit obligation at beginning of year

$
802,791


$
748,873


$
54,382


$
51,625Service cost


28,115



27,298



1,542



1,728Interest cost


47,201



43,707



3,213



2,936Amendments


(179
)


60,695







1,349Actuarial loss (gain)


2,310



(21,499
)


53



(2,123
)Benefits paid


(40,068
)


(56,283
)


(1,728
)


(1,133
)Benefit obligation at end of year

$
840,170


$
802,791


$
57,462


$
54,382Change in Plan AssetsFair value of assets at beginning of year

$
1,778,083


$
1,683,265


$



$
Actual return on plan assets


136,944



151,101







Employer contributions










1,728



1,133Benefits paid


(40,068
)


(56,283
)


(1,728
)


(1,133
)Fair value of assets at end of year

$
1,874,959


$
1,778,083


$



$
Funded status

$
1,034,789


$
975,292


$
(57,462
)

$
(54,382
)     Pension Plans


SERP2007


2006


2007


2006Non-current asset

$
1,034,789


$
975,292


$



$
Current liability










(1,738
)


(1,627
)Non-current liability










(55,724
)


(52,755
)Recognized asset (liability)

$
1,034,789


$
975,292


$
(57,462
)

$
(54,382
)     Pension Plans


SERP2007


2006


2007


2006Discount rate


6.0
%


6.0
%


6.0
%


6.0
%Rate of compensation increase


4.0
%


4.0
%


4.0
%


4.0
%       Pension Plans


SERP2008

$
38.5


$
1.82009

$
39.2


$
2.32010

$
40.4


$
2.62011

$
41.9


$
2.92012

$
43.8


$
3.220132017

$
247.9


$
20.6     Pension Plan Asset AllocationsDecember 30,


December 31,2007


2006Equities


88
%


89
%Fixed income


12
%


11
%Total


100
%


100
%        2007 FORM 10-K




---



##### Table of Contents



Pension Plans


SERP2007


2006


2005


2007


2006


2005Service cost

$
28,115


$
27,298


$
27,161


$
1,542


$
1,728


$
1,496Interest cost


47,201



43,707



39,989



3,213



2,936



2,642Expected return on assets


(98,066
)


(93,968
)


(104,589
)










Amortization of transition asset


(53
)


(82
)


(106
)










Amortization of prior service cost


5,057



4,857



4,716



446



412



465Recognized actuarial (gain) loss


(4,534
)


(3,645
)


(5,085
)


1,565



1,589



1,215Net periodic (benefit) cost for the year


(22,280
)


(21,833
)


(37,914
)


6,766



6,665



5,818Early retirement programs expense






50,040



1,192







902



Total (benefit) cost for the year

$
(22,280
)

$
28,207


$
(36,722
)

$
6,766


$
7,567


$
5,818Other Changes in Plan Assets and Benefit Obligations
    Recognized in Other Comprehensive Income:Current year actuarial (gain) loss

$
(36,568
)









$
53Current year prior service credit


(179
)










Amortization of transition asset


53











Amortization of prior service cost


(5,057
)










(446
)Recognized actuarial gain (loss)


4,534











(1,565
)Total recognized in other comprehensive income (before tax
    effects)

$
(37,217
)









$
(1,958
)Total recognized in total (benefit) cost and other
    comprehensive income (before tax effects)

$
(59,497
)

$
28,207


$
(36,722
)

$
4,808


$
7,567


$
5,818     Pension Plans


SERP2007


2006


2005


2007


2006


2005Discount rate


6.0
%


5.75
%


5.75
%


6.0
%


5.75
%


5.75
%Expected return on plan assets


6.5
%


6.5
%


7.5
%










Rate of compensation increase


4.0
%


4.0
%


4.0
%


4.0
%


4.0
%


4.0
%       Pension Plans


SERP2007


2006


2007


2006Unrecognized actuarial (gain) loss

$
(483,928
)

$
(451,894
)

$
11,074


$
12,586Unrecognized prior service cost


36,795



42,031



1,612



2,058Unrecognized transition asset


(114
)


(167
)






Gross amount


(447,247
)


(410,030
)


12,686



14,644Deferred tax liability (benefit)


178,899



164,012



(5,074
)


(5,858
)Net amount

$
(268,348
)

$
(246,018
)

$
7,612


$
8,786     2008Pension Plans


SERPActuarial (gain) loss recognition

$
(6,804
)

$
686Prior service cost recognition


5,641



446Transition asset recognition


(42
)


   Other Postretirement Plans.
  Postretirement Plans2007


2006Change in Benefit ObligationBenefit obligation at beginning of year

$
86,557


$
141,469Service cost


3,558



5,270Interest cost


4,832



6,611Amendments


(4,234
)


(45,915
)Actuarial gain


(599
)


(15,429
)Benefits paid, net of Medicare Subsidy


(3,982
)


(5,449
)Benefit obligation at end of year

$
86,132


$
86,557Change in Plan AssetsFair value of assets at beginning of year

$



$
Employer contributions


4,252



5,674Benefits paid


(4,252
)


(5,674
)Fair value of assets at end of year

$



$
Funded status

$
(86,132
)

$
(86,557
)    THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



Postretirement Plans2007


2006Current liability

$
(5,091
)

$
(5,220
)Non-current liability


(81,041
)


(81,337
)Recognized liability

$
(86,132
)

$
(86,557
)         1%


1%Increase


DecreaseBenefit obligation at end of year

$
11,481


$
(10,639
)Service cost plus interest cost

$
1,207


$
(1,167
)       PostretirementPlans2008

$
5.22009

$
5.52010

$
5.92011

$
6.12012

$
6.420132017

$
34.3     Postretirement Plans2007


2006


2005Service cost

$
3,558


$
5,270


$
6,026Interest cost


4,832



6,611



7,434Amortization of prior service credit


(4,860
)


(2,551
)


(588
)Recognized actuarial gain


(1,671
)


(864
)


(1,061
)Total cost for the year

$
1,859


$
8,466


$
11,811Other changes in plan assets and benefit obligations
    recognized in other comprehensive income:Current year actuarial gain


(329
)Current year prior service credit


(4,234
)Amortization of prior service credit


4,860Recognized actuarial gain


1,671Total recognized in other comprehensive income (before tax
    effects)

$
1,968Total recognized in net periodic cost and other comprehensive
    income (before tax effects)

$
3,827


$
8,466


$
11,811       December 30,


December 31,2007


2006Unrecognized actuarial gain

$
(13,061
)

$
(14,403
)Unrecognized prior service credit


(52,115
)


(52,741
)Gross amount


(65,176
)


(67,144
)Deferred tax liability


26,070



26,858Net amount

$
(39,106
)

$
(40,286
)     2008Actuarial gain recognition

$
(1,485
)Prior service credit recognition


(5,144
)    2007 FORM 10-K




---



##### Table of Contents



Multi-employer Pension Plans.
  Savings Plans.
  K.
    LEASE AND OTHER
    COMMITMENTS      2008

$
125,5262009


111,5682010


98,1432011


81,4002012


69,358Thereafter


214,206$
700,201         L.
    OTHER
    NON-OPERATING INCOME (EXPENSE)      2007


2006


2005Foreign currency gains (losses), net

$
8.8


$
11.9


$
(8.1
)Gain on sales of marketable equity securities


0.4



33.8



12.7Gain on sale of affiliate






43.2



Impairment write-downs on investments






(15.1
)


(1.5
)Gain on sale of non-operating land










5.1Other gains (losses)


1.6



(0.3
)


0.8Total

$
10.8


$
73.5


$
9.0   M.
    CONTINGENCIES AND
    LOSSES         THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



30-day
  N.
    SUBSEQUENT
    EVENTS          O.
    BUSINESS
    SEGMENTS         2007 FORM 10-K




---



##### Table of Contents



English-language foreign-language
                 THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



(This page intentionally left
    blank)
    2007 FORM 10-K




---



##### Table of Contents



OtherNewspaper


Television


Magazine


Cable


Businesses and


Intersegment(In thousands)

Education


Publishing


Broadcasting


Publishing


Television


Corporate Office


Elimination


Consolidated2007Operating revenues

$
2,030,889


$
889,827


$
339,969


$
288,449


$
626,446


$
6,586


$
(1,760
)

$
4,180,406Income (loss) from operations

$
149,037


$
66,434


$
142,092


$
31,388


$
123,664


$
(35,599
)

$



$
477,016Equity in earnings of affiliates






























5,975Interest expense, net






























(12,708
)Other income, net






























10,824Income before income taxes





























$
481,107Identifiable assets

$
1,930,525


$
832,655


$
464,815


$
837,527


$
1,205,374


$
161,755


$



$
5,432,651Investments in marketable equity securities






























469,459Investments in affiliates






























102,399Total assets





























$
6,004,509Depreciation of property, plant and equipment

$
60,986


$
38,659


$
9,489


$
2,177


$
108,453


$
1,475


$



$
221,239Amortization expense

$
14,670


$
1,162


$



$



$
442


$
1,297


$



$
17,571Pension credit (expense)

$
(3,536
)

$
(10,010
)

$
888


$
36,343


$
(1,405
)

$



$



$
22,280Capital expenditures

$
97,123


$
36,020


$
17,688


$
448


$
138,258


$
470


$



$
290,0072006Operating revenues

$
1,684,141


$
961,905


$
361,904


$
331,045


$
565,932


$



$



$
3,904,927Income (loss) from operations

$
130,189


$
63,389


$
160,831


$
27,949


$
119,974


$
(42,528
)

$



$
459,804Equity in earnings of affiliates






























790Interest expense, net






























(14,912
)Other income, net






























73,452Income before income taxes





























$
519,134Identifiable assets

$
1,569,404


$
821,615


$
458,751


$
788,450


$
1,178,132


$
145,601


$



$
4,961,953Investments in marketable equity securities






























354,728Investments in affiliates






























64,691Total assets





























$
5,381,372Depreciation of property, plant and equipment

$
51,820


$
35,729


$
9,915


$
2,640


$
103,892


$
1,299


$



$
205,295Amortization expense and impairment charge

$
5,186


$
1,168


$



$
9,864


$
689


$



$



$
16,907Pension credit (expense)

$
(3,064
)

$
(56,785
)

$
1,413


$
34,704


$
(1,575
)

$
(2,900
)

$



$
(28,207
)Capital expenditures

$
74,510


$
57,664


$
8,800


$
564


$
142,484


$



$



$
284,0222005Operating revenues

$
1,412,394


$
957,082


$
331,817


$
344,894


$
507,700


$



$



$
3,553,887Income (loss) from operations

$
157,835


$
125,359


$
142,478


$
45,122


$
76,720


$
(32,600
)

$



$
514,914Equity in losses of affiliates






























(881
)Interest expense, net






























(23,369
)Other income, net






























8,980Income before income taxes





























$
499,644Identifiable assets

$
1,256,604


$
693,421


$
420,154


$
594,937


$
1,122,654


$
89,721


$



$
4,177,491Investments in marketable equity securities






























329,921Investments in affiliates






























77,361Total assets





























$
4,584,773Depreciation of property, plant and equipment

$
39,453


$
36,556


$
10,202


$
2,801


$
100,031


$
1,500


$



$
190,543Amortization expense

$
5,595


$
1,119


$



$



$
764


$



$



$
7,478Pension credit (expense)

$
(2,365
)

$
(784
)

$
2,939


$
38,184


$
(1,252
)

$



$



$
36,722Capital expenditures

$
84,257


$
33,276


$
8,557


$
660


$
111,331


$
268


$



$
238,349    THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



CorporateHigher

Test



Overhead

Intersegment

Total(In thousands)

Education

Prep

Professional

and Other

Elimination

Education2007Operating revenues

$
1,021,595


$
569,316


$
439,720


$
1,261


$
(1,003
)

$
2,030,889Income (loss) from operations

$
125,629


$
71,316


$
41,073


$
(88,737
)

$
(244
)

$
149,037Identifiable assets

$
748,269


$
380,158


$
785,593


$
16,505






$
1,930,525Depreciation of property, plant and equipment

$
29,908


$
14,139


$
13,562


$
3,377






$
60,986Amortization expense













$
14,670






$
14,670Kaplan stock-based incentive compensation













$
41,294






$
41,294Capital expenditures

$
44,098


$
18,204


$
27,340


$
7,481






$
97,1232006Operating revenues

$
855,757


$
457,293


$
371,091


$



$



$
1,684,141Income (loss) from operations

$
100,690


$
77,632


$
35,503


$
(83,636
)

$



$
130,189Identifiable assets

$
632,873


$
341,262


$
548,533


$
46,736






$
1,569,404Depreciation of property, plant and equipment

$
26,278


$
11,407


$
9,582


$
4,553






$
51,820Amortization expense













$
5,186






$
5,186Kaplan stock-based incentive compensation













$
27,724






$
27,724Capital expenditures

$
36,079


$
16,400


$
10,429


$
11,602






$
74,5102005Operating revenues

$
707,966


$
391,456


$
312,972


$



$



$
1,412,394Income (loss) from operations

$
77,728


$
75,940


$
46,067


$
(41,900
)

$



$
157,835Identifiable assets

$
572,753


$
203,387


$
451,194


$
29,270






$
1,256,604Depreciation of property, plant and equipment

$
20,038


$
8,929


$
7,206


$
3,280






$
39,453Amortization expense













$
5,595






$
5,595Kaplan stock-based incentive compensation













$
3,000






$
3,000Capital expenditures

$
49,406


$
18,855


$
11,279


$
4,717






$
84,257    2007 FORM 10-K




---



##### Table of Contents



P. SUMMARY
    OF QUARTERLY OPERATING RESULTS AND COMPREHENSIVE INCOME
    (UNAUDITED)
    First


Second


Third


FourthQuarter


Quarter


Quarter


Quarter2007 Quarterly Operating ResultsOperating revenuesEducation

$
475,781


$
503,487


$
514,595


$
537,026Advertising


292,791



318,310



282,251



341,291Circulation and subscriber


196,751



202,365



203,307



215,384Other


20,285



22,611



22,351



31,820985,608



1,046,773



1,022,504



1,125,521Operating costs and expensesOperating


450,675



464,040



467,926



500,343Selling, general and administrative


386,757



399,099



384,603



411,137Depreciation of property, plant and equipment


53,449



54,060



55,722



58,008Amortization of intangibles


2,732



4,314



3,787



6,738893,613



921,513



912,038



976,226Income from operations


91,995



125,260



110,466



149,295Equity in earnings (losses) of affiliates


9,083



(135
)


(622
)


(2,351
)Interest income


3,276



2,705



3,011



2,346Interest expense


(5,925
)


(6,159
)


(6,014
)


(5,948
)Other income (expense), net


801



4,345



10,121



(4,443
)Income before income taxes


99,230



126,016



116,962



139,899Provision for income taxes


34,800



57,200



44,500



56,000Net income


64,430



68,816



72,462



82,899Redeemable preferred stock dividends


(485
)


(230
)


(237
)


Net income available for common shares

$
63,945


$
68,586


$
72,225


$
82,899Basic earnings per common share

$
6.72


$
7.22


$
7.62


$
8.75Diluted earnings per common share

$
6.70


$
7.19


$
7.60


$
8.71Basic average shares outstanding


9,513



9,502



9,473



9,479Diluted average shares outstanding


9,547



9,536



9,509



9,5122007 Quarterly comprehensive income

$
66,099


$
80,022


$
99,595


$
159,866        THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



First


Second


Third


FourthQuarter


Quarter


Quarter


Quarter2006 Quarterly Operating ResultsOperating revenuesEducation

$
408,934


$
409,244


$
420,604


$
445,359Advertising


327,165



346,390



312,238



372,946Circulation and subscriber


187,046



193,099



192,694



199,411Other


25,135



20,308



21,358



22,996948,280



969,041



946,894



1,040,712Operating costs and expensesOperating


421,423



415,271



429,564



472,660Selling, general and administrative


338,684



405,675



347,230



392,414Depreciation of property, plant and equipment


49,025



49,512



49,929



56,829Amortization of intangibles and goodwill impairment charge


1,389



1,378



11,525



2,615810,521



871,836



838,248



924,518Income from operations


137,759



97,205



108,646



116,194Equity in (losses) earnings of affiliates


(179
)


(562
)


(625
)


2,156Interest income


1,603



2,539



2,967



3,322Interest expense


(6,259
)


(6,439
)


(6,400
)


(6,245
)Other income (expense), net


(175
)


33,701



4,708



35,218Income before income taxes and cumulative effect of change in
    accounting principle


132,749



126,444



109,296



150,645Provision for income taxes


50,800



47,700



36,000



55,100Income before cumulative effect of change in accounting principle


81,949



78,744



73,296



95,545Cumulative effect of change in method of accounting for
    share-based payments, net of taxes


(5,075
)










Net income


76,874



78,744



73,296



95,545Redeemable preferred stock dividends


(491
)


(245
)


(245
)


Net income available for common shares

$
76,383


$
78,499


$
73,051


$
95,545Basic earnings per share:Before cumulative effect of change in accounting principle

$
8.51


$
8.20


$
7.62


$
10.01Cumulative effect of change in accounting principle


(0.53
)










Net income available for common shares

$
7.98


$
8.20


$
7.62


$
10.01Diluted earnings per share:Before cumulative effect of change in accounting principle

$
8.48


$
8.17


$
7.60


$
9.97Cumulative effect of change in accounting principle


(0.53
)










Net income available for common shares

$
7.95


$
8.17


$
7.60


$
9.97Basic average shares outstanding


9,570



9,575



9,581



9,548Diluted average shares outstanding


9,606



9,613



9,617



9,5812006 Quarterly comprehensive income

$
85,633


$
71,544


$
83,256


$
127,977        2007 FORM 10-K




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##### Table of Contents



First


Second


Third


FourthQuarter


Quarter


Quarter


QuarterCharge of additional net income tax expense of $6.6 million
    as a result of a $12.9 million increase in taxes associated
    with Bowater Mersey, offset by a tax benefit of
    $6.3 million associated with recent changes in certain
    state income tax laws





$
(0.70
)Charges of $6.7 million related to lease obligations,
    severance and accelerated depreciation of fixed assets in
    connection with Kaplans restructuring of the Score!
    business













$
(0.70
)Charge of $3.6 million related to write-off of an
    integrated software product under development and severance
    costs at Kaplan Professional (U.S.)













$
(0.38
)Gain of $5.9 million from the sale of property at the
    companys television station in Miami









$
0.62      First


Second


Third


FourthQuarter


Quarter


Quarter


QuarterCharges of $31.7 million related to early retirement plan
    buyouts ($31.4 million and $0.3 million in the second
    and third quarters, respectively)





$
(3.27
)

$
(0.03
)Charge of $9.0 million for the write-down of a marketable
    equity security













$
(0.94
)Charge of $8.3 million related to an agreement to settle a
    lawsuit at Kaplan













$
(0.86
)Goodwill impairment charge of $6.3 million at PostNewsweek
    Tech Media during the third quarter of 2006 and a
    $1.0 million loss on the sale of PostNewsweek Tech Media
    during the fourth quarter of 2006









$
(0.65
)

$
(0.10
)Transition costs and operating losses at Kaplan related to
    acquisitions and
    startups for
    2006 totaled $8.0 million ($0.1 million,
    $5.6 million, $0.5 million and $1.8 million in
    the first, second, third and fourth quarters, respectively)

$
(0.02
)

$
(0.58
)

$
(0.05
)

$
(0.19
)Charge of $5.1 million for the cumulative effect of a
    change in accounting for Kaplan equity awards in connection with
    the adoption of SFAS 123R

$
(0.53
)Gain of $27.4 million on the sale of the Companys 49%
    interest in BrassRing













$
2.86Insurance recoveries of $6.4 million from cable division
    losses related to Hurricane Katrina





$
0.67Gains of $21.1 million from the sales of marketable equity
    securities ($19.6 million, $1.3 million and
    $0.2 million in the second, third and fourth quarters,
    respectively)





$
2.04


$
0.13


$
0.02    THE WASHINGTON POST
    COMPANY




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##### Table of Contents



SCHEDULE II
  THE WASHINGTON
    POST COMPANY
  SCHEDULE II 
    VALUATION AND QUALIFYING ACCOUNTS
  Column A

Column B


Column C


Column D


Column EAdditions Balance at


Charged to





Balance atBeginning


Costs and





End ofDescription

of Period


Expenses


Deductions


PeriodYear Ended January 1, 2006Allowance for doubtful accounts and returns

$
65,652,000


$
127,195,000


$
121,722,000


$
71,125,000Allowance for advertising rate adjustments and discounts


5,313,000



14,970,000



13,309,000



6,974,000$
70,965,000


$
142,165,000


$
135,031,000


$
78,099,000Year Ended December 31, 2006Allowance for doubtful accounts and returns

$
71,125,000


$
136,663,000


$
127,426,000


$
80,362,000Allowance for advertising rate adjustments and discounts


6,974,000



13,222,000



14,331,000



5,865,000$
78,099,000


$
149,885,000


$
141,757,000


$
86,227,000Year Ended December 30, 2007Allowance for doubtful accounts and returns

$
80,362,000


$
135,936,000


$
138,713,000


$
77,585,000Allowance for advertising rate adjustments and discounts


5,865,000



13,492,000



15,039,000



4,318,000$
86,227,000


$
149,428,000


$
153,752,000


$
81,903,000    2007 FORM 10-K




---



##### Table of Contents



TEN-YEAR SUMMARY
    OF SELECTED HISTORICAL FINANCIAL DATA
    (In thousands, except per share amounts)

2007


2006


2005Results of OperationsOperating revenues

$
4,180,406


$
3,904,927


$
3,553,887Income from operations

$
477,016


$
459,805


$
514,914Income before cumulative effect of change in accounting principle

$
288,607


$
329,534


$
314,344Cumulative effect of change in method of accounting






(5,075
)


Net income

$
288,607


$
324,459


$
314,344Per Share AmountsBasic earnings per common shareBefore cumulative effect of change in accounting principle

$
30.31


$
34.34


$
32.66Cumulative effect of change in accounting principle






(0.53
)


Net income available for common shares

$
30.31


$
33.81


$
32.66Basic average shares outstanding


9,492



9,568



9,594Diluted earnings per shareBefore cumulative effect of change in accounting principle

$
30.19


$
34.21


$
32.59Cumulative effect of change in accounting principle






(0.53
)


Net income available for common shares

$
30.19


$
33.68


$
32.59Diluted average shares outstanding


9,528



9,606



9,616Cash dividends

$
8.20


$
7.80


$
7.40Common shareholders equity

$
363.72


$
331.32


$
274.79Financial PositionCurrent assets

$
994,970


$
934,825


$
818,326Working capital


(18,503
)


123,184



123,605Property, plant and equipment


1,280,737



1,218,309



1,142,632Total assets


6,004,509



5,381,372



4,584,773Long-term debt


400,519



401,571



403,635Common shareholders equity


3,461,159



3,159,514



2,638,423   Impact from
    certain unusual items (after-tax and diluted EPS
    amounts):
  2007
  
    charge of additional net income tax expense of $6.6 million
    ($0.70 per share), as the result of a $12.9 million
    increase in taxes associated with Bowater Mersey, offset by a
    tax benefit of $6.3 million associated with recent changes
    in certain state income tax laws.
    charges of $6.7 million ($0.70 per share) related to lease
    obligations, severance and accelerated depreciation of fixed
    assets in connection with Kaplans restructuring of the
    Score! business
    charge of $3.6 million ($0.38 per share) related to Kaplan
    Professionals write-off of an integrated software product
    under development, and severance costs at Kaplan Professional
    (U.S.)
    gain of $5.9 million ($0.62 per share) from the sale of
    property at the Companys television station in Miami  2006
  
    charge of $31.7 million ($3.30 per share) related to early
    retirement plan buyouts
    charge of $9.0 million ($0.94 per share) from the
    write-down of a marketable equity security
    charge of $8.3 million ($0.86 per share) related to an
    agreement to settle a lawsuit at Kaplan
    goodwill impairment charge of $6.3 million ($0.65 per
    share) at PostNewsweek Tech Media and a loss of
    $1.0 million ($0.10 per share) on the sale of PostNewsweek
    Tech Media
    transition costs and operating losses at Kaplan related to
    acquisitions and startups for 2006 of $8.0 million ($0.83
    per share)
    charge of $5.1 million ($0.53 per share) for the cumulative
    effect of a change in accounting for Kaplan equity awards in
    connection with the Companys adoption of SFAS 123R
    gain of $27.4 million ($2.86 per share) on the sale of the
    Companys 49% interest in BrassRing
    insurance recoveries of $6.4 million ($0.67 per share) from
    cable division losses related to Hurricane Katrina
    gains of $21.1 million ($2.19 per share) from the sales of
    marketable equity securities  2005
  
    charges and lost revenue of $17.3 million ($1.80 per share)
    associated with Hurricane Katrina and other hurricanes
    gain of $11.2 million ($1.16 per share) from sales of
    non-operating land and marketable equity securities   THE WASHINGTON POST
    COMPANY




---



##### Table of Contents



(In thousands, except per share amounts)

2004


2003


2002


2001


2000


1999


1998Results of OperationsOperating revenues

$
3,300,104


$
2,838,911


$
2,584,203


$
2,411,024


$
2,409,633


$
2,212,177


$
2,107,593Income from operations

$
563,006


$
363,820


$
377,590


$
219,932


$
339,882


$
388,453


$
378,897Income before cumulative effect of change in accounting principle

$
332,732


$
241,088


$
216,368


$
229,639


$
136,470


$
225,785


$
417,259Cumulative effect of change in method of accounting










(12,100
)














Net income

$
332,732


$
241,088


$
204,268


$
229,639


$
136,470


$
225,785


$
417,259Per Share AmountsBasic earnings per common shareBefore cumulative effect of change in accounting principle

$
34.69


$
25.19


$
22.65


$
24.10


$
14.34


$
22.35


$
41.27Cumulative effect of change in accounting principle










(1.27
)














Net income available for common shares

$
34.69


$
25.19


$
21.38


$
24.10


$
14.34


$
22.35


$
41.27Basic average shares outstanding


9,563



9,530



9,504



9,486



9,445



10,061



10,087Diluted earnings per shareBefore cumulative effect of change in accounting principle

$
34.59


$
25.12


$
22.61


$
24.06


$
14.32


$
22.30


$
41.10Cumulative effect of change in accounting principle










(1.27
)














Net income available for common shares

$
34.59


$
25.12


$
21.34


$
24.06


$
14.32


$
22.30


$
41.10Diluted average shares outstanding


9,592



9,555



9,523



9,500



9,460



10,082



10,129Cash dividends

$
7.00


$
5.80


$
5.60


$
5.60


$
5.40


$
5.20


$
5.00Common shareholders equity

$
251.11


$
216.17


$
192.45


$
177.30


$
156.55


$
144.90


$
157.34Financial PositionCurrent assets

$
750,509


$
550,571


$
407,347


$
426,603


$
405,067


$
476,159


$
404,878Working capital


62,348



(190,426
)


(356,644
)


(37,233
)


(3,730
)


(346,389
)


15,799Property, plant and equipment


1,089,952



1,051,373



1,094,400



1,098,211



927,061



854,906



841,062Total assets


4,308,765



3,949,798



3,604,866



3,588,844



3,200,743



2,986,944



2,729,661Long-term debt


425,889



422,471



405,547



883,078



873,267



397,620



395,000Common shareholders equity


2,404,606



2,062,681



1,830,386



1,683,485



1,481,007



1,367,790



1,588,103   2003
  
    gain of $32.3 million ($3.38 per share) on the sale of the
    Companys 50% interest in the International Herald Tribune
    gain of $25.5 million ($2.66 per share) on sale of land at
    The Washington Post newspaper
    charge of $20.8 million ($2.18 per share) for early
    retirement programs at The Washington Post newspaper
    Kaplan stock compensation expense of $6.4 million ($0.67
    per share) for the 10% premium associated with the purchase of
    outstanding Kaplan stock options
    charge of $3.9 million ($0.41 per share) in connection with
    the establishment of the Kaplan Educational Foundation  2002
  
    gain of $16.7 million ($1.75 per share) on the exchange of
    certain cable systems
    charge of $11.3 million ($1.18 per share) for early
    retirement programs at Newsweek and The Washington Post newspaper  2001
  
    gain of $196.5 million ($20.69 per share) on the exchange
    of certain cable systems
    non-cash goodwill and other intangibles impairment charge of
    $19.9 million ($2.10 per share) recorded in conjunction
    with the Companys BrassRing investment
    charges of $18.3 million ($1.93 per share) from the
    write-down of a non-operating parcel of land and certain cost
    method investments to their estimated fair value  2000
  
    charge of $16.5 million ($1.74 per share) for an early
    retirement program at The Washington Post newspaper  1999
  
    gains of $18.6 million ($1.81 per share) on the sales of
    marketable equity securities  1998
  
    gain of $168.0 million ($16.59 per share) on the
    disposition of the Companys 28% interest in Cowles Media
    Company
    gain of $13.8 million ($1.36 per share) from the sale of 14
    small cable systems
    gain of $12.6 million ($1.24 per share) on the disposition
    of the Companys investment in Junglee, a facilitator of
    Internet commerce   2007 FORM 10-K




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##### Table of Contents



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    THE WASHINGTON POST
    COMPANY




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##### Table of Contents



INDEX TO
    EXHIBITS
  ExhibitNumber

Description3
.1

Restated Certificate of Incorporation of the Company dated
    November 13, 2003 (incorporated by reference to
    Exhibit 3.1 to the Companys Annual Report on
    Form 10-K
    for the fiscal year ended December 28, 2003).3
.2

Certificate of Designation for the Companys Series A
    Preferred Stock dated September 22, 2003 (incorporated by
    reference to Exhibit 3.2 to Amendment No. 1 to the
    Companys Current Report on
    Form 8-K
    dated September 22, 2003).3
.3

By-Laws of the Company as amended and restated through
    November 8, 2007 (incorporated by reference to
    Exhibit 3.1 to the Companys Current Report on
    Form 8-K
    dated November 14, 2007).4
.1

Form of the Companys 5.50% Notes due
    February 15, 2009, issued under the Indenture dated as of
    February 17, 1999, between the Company and The First
    National Bank of Chicago, as Trustee (incorporated by reference
    to Exhibit 4.2 to the Companys Annual Report on
    Form 10-K
    for the fiscal year ended January 3, 1999).4
.2

Indenture dated as of February 17, 1999, between the
    Company and The First National Bank of Chicago, as Trustee
    (incorporated by reference to Exhibit 4.3 to the
    Companys Annual Report on
    Form 10-K
    for the fiscal year ended January 3, 1999).4
.3

First Supplemental Indenture dated as of September 22,
    2003, among WP Company LLC, the Company and Bank One, NA, as
    successor to The First National Bank of Chicago, as Trustee, to
    the Indenture dated as of February 17, 1999, between The
    Washington Post Company and The First National Bank of Chicago,
    as Trustee (incorporated by reference to Exhibit 4.1 to the
    Companys Current Report on
    Form 8-K
    dated September 22, 2003).4
.4

Five Year Credit Agreement dated as of August 8, 2006,
    among the Company, Citibank, N.A., JPMorgan Chase Bank, N.A.,
    Wachovia Bank, National Association, SunTrust Bank, The Bank of
    New York, PNC Bank, National Association, Bank of America, N.A.
    and Wells Fargo Bank, N.A. (incorporated by reference to
    Exhibit 4.4 to the Companys Quarterly Report on
    Form 10-Q
    for the quarter ended July 2, 2006).10
.1

The Washington Post Company Incentive Compensation Plan as
    amended and restated on May 11, 2006, and further amended
    effective January 18, 2007.*10
.2

The Washington Post Company Stock Option Plan as amended and
    restated effective May 31, 2003 (incorporated by reference
    to Exhibit 10.1 to the Companys Quarterly Report on
    Form 10-Q
    for the quarter ended September 28, 2003).*10
.3

The Washington Post Company Supplemental Executive Retirement
    Plan as amended and restated through December 2007.*10
.4

The Washington Post Company Deferred Compensation Plan as
    amended and restated through December 2007.*21


List of subsidiaries of the Company.23


Consent of independent registered public accounting firm.24


Power of attorney dated February 26, 2008.31
.1

Rule 13a-14(a)/15d-14(a)
    Certification of the Chief Executive Officer.31
.2

Rule 13a-14(a)/15d-14(a)
    Certification of the Chief Financial Officer.32


Section 1350 Certification of the Chief Executive Officer
    and the Chief Financial Officer.     *A management contract or
    compensatory plan or arrangement required to be included as an
    exhibit hereto pursuant to Item 15(b) of
    Form 10-K.
   2007 FORM 10-K