Lee Enterprises

Activist investor seeks to remove three from Lee Enterprises' board, including chairman and CEO

A Wyoming-based activist investor – who has publicly feuded with James Cramer of CNBC's "Mad Money" – wants Lee Enterprises, Inc. shareholders to replace three members of the Davenport media company's board of directors, including chairman Mary Junck and President/CEO Kevin Mowbray.

J. Caro Cannell in a filing Wednesday (1/16/19) with the Security and Exchange Commission (SEC) labeled the Lee board "stale, lethargic and devoid of any skin in the game." He urged shareholders not to re-elect Junck, Mowbray and board member Herbert W. Maloney III at the upcoming Lee annual meeting in February. Lee owns 46 daily newspapers, including the QC Times and the Dispatch/Argus.

Lee Enterprises' print circulation falls another 8 percent; company looks to future 'inflection point' where digital revenue will surpasses print ad dollars

Lee Enterprises, Inc. Executive Chairman Mary Junck told stock analysts last week the media company – owner of the Quad City Times and Dispatch/Argus – remains "steadfast in our optimism" with "a growth strategy aimed at achieving a digital inflection point when digital-related revenues exceed print-related revenues."

The company also reported higher earnings for the fourth quarter ($4.4 million versus $3.5 million a year ago) and for the full fiscal year ($28.6 million versus $18.4 million) ended Sept. 30.

The positive comments and financial results, though, weren't enough to lift the firm's stock price, which fell to a 52-week low of $1.87 Tuesday (12/18).

Lee Enterprises operating revenue falls 4.8 percent in third quarter; per share earnings decline 27 percent

Despite gains in its digital advertising revenues, Lee Enterprises, Inc. today (8/3) reported overall operating revenues in the third quarter fell nearly 5 percent and net income per share was off 27 percent compared with the same period a year ago.

Lee – owner of the Quad City Times and Dispatch-Argus newspapers – had net income of $4.75 million (8 cents per share) for the three-month period ended June 24, compared with $6.29 million (11 cents per share) a year ago.

Lee Enterprises signs deal to manage Berkshire Hathaway's newspaper, digital operations

Lee Enterprises – owner of the Quad City Times and 48 other media properties – today (6/26) announced it has agreed to a five-year deal to manage Berkshire Hathaway's newspapers and digital operations in 30 markets.

Davenport-based Lee would be paid $5 million a year by GH Media, plus "a significant percentage of profits over benchmarks," according to the company's news release.

Lee stocked jumped 62 cents, nearly 26 percent, to $3.03 per share in early morning trading.

Lee reports lower revenues, earnings in 2nd quarter

Lee Enterprises – owner of the Quad City Times and Dispatch-Argus newspapers – today (5/3) reported lower revenues and earnings for the second quarter despite "strong performance in digital retail."

Second quarter earnings were $2.5 million, 4 cents per share, for the quarter ended March 25, compared with $6.4 million, 11 cents per share, for the same period a year ago, according to the company news release.

Lee Enterprises reports earnings increase thanks to $19.7 boost from one-time income tax adjustment

Lee Enterprises – owner of the Quad City Times and Dispatch-Argus newspapers – today (2/1) reported higher net income and earnings for the first quarter ended Dec. 24, thanks primarily to a $19.7-million income tax adjustment stemming from the recently passed federal tax reform legislation.

The Davenport-based media company reported net income for the first quarter of $35.3 million with $19.7 million of that total coming from a one-time adjustment to its deferred tax assets and liabilities to reflect the lowering of the federal base tax rate from 35 to 21 percent.

10 years of swimming against the digital currents leaves Lee Enterprises, Inc. at half its former self

Back in 2007, Lee Enterprises, Inc. – owner of the Quad City Times and now the Dispatch/Argus – reported daily circulation of just over 1.6 million at its 51 newspapers. Today, that number is down to 788,000 at 47 newspapers, according to the company's latest annual report filed Friday (12/8).

Lee Enterprises looks to widen use of cash beyond debt reduction; may include print, digital acquisitions

After reporting an upswing in third quarter earnings Thursday (8/3), Lee Enterprises, Inc. executives told analysts the company will look to widen the use of cash flow beyond debt reduction and may seek additional print or digital acquisitions.

The Davenport-based media company acquired its Quad Cities newspaper competitor, The Dispatch-Argus, in June for $7 million. The Dispatch-Argus primarily served the Illinois Quad Cities (East Moline, Moline and Rock Island), while the Quad City Times serves mainly readers in the Iowa Quad Cities (Bettendorf and Davenport).

"We expect the acquisition to be accretive to earnings and free cash flow in our September (4th) quarter," President and Chief Executive Officer Kevin Mowbray said. "The transition is off to a good start and we are pleased with the contributions we are already seeing from the Dispatch-Argus."

Ex-Davenport city administrator files libel lawsuit against Quad City Times and two reporters

In a libel lawsuit filed last week, ex-Davenport City Administrator Craig Malin claims the Quad City Times published false and misleading statements to "run him out of town" because of "his leadership in expanding access to public information, which the Quad City Times openly opposed."

The lawsuit filed June 15 in Scott County District Court names Lee Enterprises, owner of the Quad City Times, in addition to the newspaper and reporters Barb Ickes and Brian Wellner.

Lee Enterprises, Inc. to acquire Dispatch-Argus newspaper in $7.15 million transaction

More than 150 years of newspaper competition in the Quad Cities will draw to an end later this month with purchase of the Dispatch-Argus and its digital portal QCOnline.com by Lee Enterprises, Inc., owner of the Quad City Times.

The $7.15 million acquisition (including an adjustment for working capital) was announced today (6/19) and is expected to close by the end of the month.

CLICK HERE for observations on the newspaper sale by John Beydler, who recently retired from the Dispatch-Argus after a career of more than 40 years.

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