Lee Enterprises

Lee Enterprises digital revenue reaches 51 percent, but company loses $269,000 in third quarter

For the first time, online revenue during the third quarter exceeded print income at Lee Enterprises, Inc. – owner of the Quad City Times and Daily Dispatch/Argus newspapers and online news sites.

Despite the continued growth of online revenue, the company lost 5 cents per share ($269,000) for the three-month period ended June 26. A year earlier, Lee reported third quarter earnings of 56 cents per share, or $3.23 million.

Lee Enterprises digital revenues grow, but overall revenues and earnings drop in second quarter

Despite gains from its digital operations, Lee Enterprises, Inc. – owner of 77 media properties including the Quad City Times and the Argus/Dispatch – saw overall revenues and earnings fall during the second quarter compared with a year ago.

Lee reported Thursday (5/5) it lost $6.7 million ($1.26 per share) during the second quarter ended March 27. That compares with a loss of $608,000 ($.20 cents per share) for the same period a year ago.

Lee Enterprises reports 20 percent decline in first quarter earnings as Alden Global pushes takeover

Lee Enterprises, Inc. today (2/3) reported a 20 percent decline in first quarter earnings compared with a year ago, while efforts by hedge fund Alden Global Capital to acquire the Davenport-based print and online media company intensified.

Lee – owner of the Dispatch/Argus and Quad City Times – earned $13.2 million ($2.21 per share) during the quarter ended Dec. 26, 2021, compared with $16.4 million ($2.79 per share) for the same period a year ago. The lower earnings occurred despite the inclusion of a one-time $12.3-million gain from the sale of company assets.

Meanwhile, Alden Global is seeking to replace Lee's Chairman and CEO Mary Junck and long-time board member Herbert Maloney III on the company's board of directors. Alden has submitted an alternative slate of candidates for the director slots coming up for election at the company's annual meeting to be held March 10.

Lee Enterprises touts management strategy; reports $5.3 million profit in fourth quarter ended Sept. 26

Lee Enterprises, Inc. – owner of the Quad City Times, Dispatch/Argus and news operations in 76 other markets – earned $5.3 million during the fourth quarter ended Sept. 26.

The positive earnings announcement Thursday (12/9) came a day after the Davenport-based company's board of directors unanimously rejected the $24-per-share buyout offer made by Alden Global Capital last month.

While the Lee earnings news release held up fourth quarter operating revenues ($194 million) and fiscal year operating revenues ($794.6 million) as signs the company's strategic plan was working, on a pro forma basis, full year operating revenues were down 3 percent compared to 2020.

Hedge fund Alden Global Capital makes $24 per share, all-cash offer to buy Lee Enterprises, Inc.

Hedge fund Alden Global Capital today (11/22) made an unsolicited all-cash offer of $24 per share to acquire Davenport-based Lee Enterprises, Inc. with its 77 daily newspapers including the St. Louis Post-Dispatch, Buffalo News, and local Quad City newspapers, the Dispatch/Argus and Quad City Times.

Alden acquired Tribune Publishing earlier this year. That publishing group includes the Chicago Tribune, New York Daily News, Orange County Register, Boston Herald, Baltimore Sun and the Mercury News (San Jose, CA).

Lee Enterprise, Inc. reports third quarter earnings of $3.74 million, 56 cents per share

Lee Enterprises, Inc. – owner of both daily newspapers in the Quad Cities – reported Thursday (7/5) it earned $3.74 million, 56 cents per share, during the third quarter ended June 27.

That compares with a loss of $727,000, 23 cents per share, for the same period a year ago.

On a pro forma basis to reflect acquisition of Berkshire Hathaway Media and Buffalo News last year, total operating revenue fell 4.7 percent and total advertising revenue was down 9.3 percent compared with the same quarter a year ago.

Lee reports $600,000 loss for second quarter

Lee Enterprises – owner of the Quad City Times and Dispatch Argus newspapers – reported a net loss of $600,000 (6 cents per share) for the second quarter ended March 28.

The loss reflects a 16 percent decline in advertising and marketing services revenue for the period compared (on a pro forma basis) with the same three-month period a year ago.

Lee posts $1.3 million loss in 4th quarter and fiscal year; huge debt continues to dog financial results

If only Lee Enterprises, owner of the Quad City Times and Dispatch/Argus, wasn't $538 million in debt.

It would have had $47 million more in income during the past fiscal year to invest back into its 77 newspapers and news web site markets.

And in the fourth quarter ended Sept. 27, the company would have had $12.4 million less in interest expenses, resulting in an $11.1-million profit rather than a $1.3 million loss.

Lee pays Buffett's Berkshire Hathaway $37 million in debt repayments after furloughing staff, cutting pay

After furloughing hundreds of Lee Enterprise employees during the coronavirus economic downturn last quarter, the media company was able to pay billionaire Warren Buffet's finance company $36.7 million under the debt refinancing deal agreed to earlier this year.

Lee – owner of the Quad City Times and Dispatch/Argus and 75 other daily newspapers and online news sites – owes Buffet's BH Finance LLC more than $539 million, which carries an annual interest rate of 9 percent.

Lee Enterprises reports $5 million 2nd quarter loss

Lee Enterprises – owner of the Quad City Times and Dispatch/Argus – has reported a $5 million loss (9 cents per share) for the second quarter ended March 29. That was nearly double the loss ($2.3 million, 5 cents per share) for the same period a year ago.

Lee President and Chief Executive Officer Kevin Mowbray in the company's earnings news release June 18 stated he was "pleased to announce our solid second quarter financial results."

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