The Washington Post Co. reported last week that operating profits dropped 28.6 percent in the latest quarter, as the newspaper division continued to struggle with circulation and advertising revenue losses.The flagship Washington Post newspaper suffered a 15 percent drop in print advertising revenue compared to the year before. Plus, the paper's circulation continued to slide. In the first six months of 2012, the newspaper's average daily circulation fell 9.3 percent from the same period in 2011, and Sunday circulation dropped 6.1 percent.