Dispatch/Argus

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).

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).

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