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Earnings

April 22, 1987

Two of the nation's major newspaper companies, Washington Post Co. and New York Times Co., posted higher profit for the first quarter, while Tribune Co. of Chicago said its quarterly earnings declined sharply, reflecting a one-time gain in the first quarter of 1986 from the sale of the Los Angeles Daily News and other assets. The New York Times Co. said first-quarter earnings climbed more than 21%, helped by gains in its newspaper, magazine, broadcasting and cable-television units. The Washington Post Co. said first-quarter profit rose 50%. However, the firm had recorded a $2.2-billion charge the first quarter of 1986 to retire debt from the purchase of its cable division.

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