Dispatch-Argus

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.

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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