The Washington Post Company has completed an internal corporate restructuring designed to separate the company's Washington Post newspaper business into a wholly owned subsidiary. Prior to the
restructuring, the newspaper had been run as an operating division of the company. As a result of the restructuring, shares of the company's class A common stock, class B common stock and series A
preferred stock have been automatically converted into identical shares of the new holding company. Each class carries the same voting powers, designations, preferences, rights, qualifications,
restrictions and limitations as the class from which it was converted.