UPDATE 1-Washington Post takes a loss on buyout charges

(Adds newspaper results, market activity)

NEW YORK, Aug 1 (Reuters) - Washington Post Co (WPO.N) reported a quarterly loss on Friday because of an $87.4 million charge for buyouts at its namesake newspaper and Newsweek magazine, while newspaper publishing revenue fell 13 percent.

The Post Co reported a second-quarter net loss of $2.7 million or 31 cents a share, compared with a profit of $68.8 million or $7.19 per share in the same quarter a year ago.

After taxes, the buyout charge amounted to $52.9 million, or $5.58 a share. About 231 employees at The Washington Post newspaper accepted the offer, which it called an early retirement package.

At Newsweek, 117 employees accepted the offer.

Revenue rose 6 percent to $1.11 billion from $1.05 billion because of better performance at its Kaplan education division and its cable television business.

Newspaper publishing division revenue fell to $197.3 million, performance that mirrors that of other U.S. newspaper publishers that are getting hit by a severe drop in advertising revenue brought on by wider economic crises and readers deserting print editions for the Internet.

Advertising revenue at the Post newspaper fell 22 percent to $99.8 million because of what the company called a large decline in classified ad sales.

Online publishing revenue at the Post Co rose 4 percent to $29.3 million.