FOR IMMEDIATE RELEASE
September 29, 2008
WASHINGTONSeptember 29, 2008The Washington Post Company (NYSE: WPO) announced today that it has acquired Foreign Policy magazine, a two-time winner of the prestigious National Magazine Award for General Excellence. The magazine and its award-winning website, foreignpolicy.com, have been published by the Carnegie Endowment for International Peace, a think tank headquartered in Washington, DC.
Foreign Policy is a terrific magazine, and Im pleased it will become a part of our company, said Donald E. Graham, chairman and chief executive officer of The Washington Post Company. We are committed to great magazine journalism, and I hope Foreign Policy will also become one more center of innovation that helps us expand our journalism in the online arena.
The magazine was founded as a quarterly journal in 1970; it was relaunched as a glossy bimonthly magazine in 2000 by its current editor and publisher, Moiss Nam, who will remain editor-in-chief. Taking on the world of global politics, economics and ideas as its mission, FP draws on leading journalists, thinkers and foreign policy practitioners for its trademark analysis and insight. Susan Glasser, a longtime Washington Post editor and foreign correspondent who served as co-bureau chief in Moscow and covered the wars in Iraq and Afghanistan, will join Foreign Policy as executive editor. Foreign Policy will be part of The Slate Group.
Foreign Policy is thrilled to join The Post Company, said Moiss Nam, editor-in-chief of Foreign Policy. In an era in which too many newspapers and magazines are retreating from international news, The Washington Post Company is smartly bucking the trend. Serving the expanding market of readers eager to understand how events in other countries affect them is what FP is all about, and that is why we are so excited to have The Washington Post Company as our new home.
Foreign Policy, which is published in eight foreign-language editions and has a circulation of 100,000, also produces a fast-growing website and an award-winning daily blog, Passport. The magazine has been nominated for a National Magazine Award for General Excellence for the past four years and won the award in both 2003 and 2007. Always authoritative but never heavy-handed, Foreign Policy delivers on its mission to take readers beyond the facts to understand how the world works, said the citation for last years award.
About The Washington Post Company (www.washpostco.com)
The Washington Post Company (NYSE: WPO) is a diversified education and media company whose principal operations include educational and career services, newspaper and magazine publishing, television broadcasting, cable television systems and electronic information services. The Company owns The Washington Post; Washingtonpost.Newsweek Interactive (WPNI), the online publishing subsidiary whose flagship products include washingtonpost.com, Newsweek.com, Slate, BudgetTravel.com, Sprig.com, TheRoot.com and TheBigMoney.com; Express; El Tiempo Latino; The Gazette and Southern Maryland Newspapers; The Herald (Everett, WA); Newsweek magazine; PostNewsweek Stations (Detroit, Houston, Miami, Orlando, San Antonio and Jacksonville); Cable ONE, serving subscribers in midwestern, western and southern states; and CourseAdvisor, an online lead generation provider.
The Company also owns Kaplan, Inc., a leading global provider of educational services to individuals, schools and businesses, serving over one million students with operations in more than 30 countries. Its international programs include higher education, test preparation, language instruction and professional training.
The Company has ownership interests in the Los Angeles TimesWashington Post News Service and Bowater Mersey Paper Company.