WASHINGTON, Sept. 2 /PRNewswire-FirstCall/ -- Shareholders of The
Washington Post Company (NYSE: WPO) should know that among Cable One's 700,000
customers, 160,000 are in the state of Mississippi; of those, about 100,000
are on the Gulf Coast. Cable One is the cable franchise holder for Gulfport,
Biloxi, Pascagoula and neighboring communities where storm damage was
extraordinary. Revenues from all our Gulf Coast systems were $68 million in
More than 170 Washington Post Company people work in those systems. We
have been in touch with many, but by no means all. We know of no deaths or
major injuries, but a significant number of homes are totally lost.
Since these communities have no power, there is no cable service. It may
be some time before most people return to their home towns. The Company's
business will suffer; part of the loss is covered by insurance, but some will
be borne by the Company. Headend facilities in Gulfport and Biloxi are
largely intact. The Pascagoula headend suffered significant water damage.
The extent of damage to cable lines and other facilities is unknown.
"Any financial losses are trivial compared to the human suffering on the
Gulf Coast," said Donald E. Graham, chairman of The Washington Post Company.
"Our first concern is for those who live in the region, including those who
work for Cable One and their families. We've been part of the growth of the
Mississippi Gulf Coast, and we look forward to being part of its rebuilding."
Headquartered in Phoenix, AZ, Cable One is the cable broadcasting division
of The Washington Post Company.
SOURCE The Washington Post Company
Rima Calderon of The Washington Post Company