Lee Enterprises

Lee reports drop in print, digital ad revenue; maintains digital transition strategy will succeed

Lee Enterprises – owner of the Quad City Times, Dispatch/Argus and 70+ other news publications and web sites – reported first quarter earnings of $1.2 million, a 32 percent decrease from the same period a year ago.

Lee executives again boasted of its growth in digital subscriptions (up 58 percent from the first quarter of 2022), but overall subscription revenue fell 10.5 percent compared with the same period last year.

"Our first quarter results demonstrate our confidence in Lee's digital transformation," Kevin Mowbray, Lee's President and Chief Executive Officer, stated in its earnings news release issued Feb. 1. "We are on a clear path to becoming sustainable solely from the revenue and cash flow from our digital products."

While the company has been pushing aggressively to move print subscribers to digital subscribers, the overall impact has been a steady decrease in total operating revenues.

Lee Enterprises reports $1.3-million 4th quarter loss; says company had 'strong fourth quarter results'

Lee Enterprises, Inc. – owner of the Quad City Times and DIspatch/Argus – Thursday (12/8) reported a $1.32-million loss for the fourth quarter stating in its earnings news release the company had achieved "strong fourth quarter results."

Lee lost $1.32 million (32 cents per share) during the three-month period ended Sept. 28, and 90 cents per share ($2.73 million) for the company's fiscal year that ended Sept. 25.

Operating cost reductions, digital revenue growth boost Lee Enterprises' net income in third quarter

A 15 percent increase in digital revenue plus a 15 percent decrease in operating expenses led to a $2.1-million profit for Lee Enterprises, Inc. in the third quarter ended June 25.

Lee, headquartered in Davenport, owns more than 70 newspapers and online news sites including the Quad City Times and Daily Dispatch/Argus.

Privacy lawsuit against Lee Enterprises will proceed

by Clark Kauffman, Iowa Capital Dispatch
July 31, 2023

A federal judge has refused to dismiss a lawsuit alleging an Iowa newspaper publisher violated customers’ privacy rights through information sharing with Facebook.

The Iowa-based newspaper chain Lee Enterprises is facing a potential class-action lawsuit alleging it has shared readers’ personal information, including the videos they watch on Lee websites, with Facebook in violation of federal law.

Late fiscal 2022 financial report from Lee Enterprises shows net income down 35 cents per share

Lee Enterprises, Inc. finally filed its full fiscal 2022 financial report Tuesday (Feb. 27) with the U.S. Security and Exchange Commission (SEC), two months later than normal.

The annual 10-K report showed the company lost 35 cents per share for the 12 months ended Sept. 25, or 14 cents more than preliminary numbers released Dec. 8 as part of its fourth quarter financial results.

Lee is publisher of the Quad City Times and Daily Dispatch/Argus and some 75 other newspapers and online news sites including the St. Louis Post-Dispatch, the Buffalo News and the Omaha World-Herald.

Class action lawsuit accuses Davenport-based Lee Enterprises, Inc. of online privacy violations

Iowa Capital Dispatch

The Iowa-based newspaper chain Lee Enterprises is facing a potential class-action lawsuit alleging it has shared readers’ personal information with Facebook in violation of federal law.

Lee publishes newspapers and other media content in 77 markets across 26 states. The company’s 10 Iowa papers include the Quad-City Times in Davenport, the Sioux City Journal, the Mason City Globe-Gazette the Waterloo-Cedar Falls Courier and the Muscatine Journal.

The lawsuit, filed this week in U.S. District Court, alleges that Lee’s news-media websites offer users the option of subscribing to newsletters or to newspapers that provide consumers with access to articles and video content in exchange for their personal information, including names and mailing addresses.

Large write-down of assets leaves Lee with a $6.34 million loss for fourth quarter ended September 25

Lee Enterprises – owner of the Quad City Times, Daily Dispatch/Argus and more than 70 other newspapers and online news sites – reported a $6.34 million loss for the fourth quarter ended September 25. However, the quarterly financial results were skewed into negative territory primarily by a $21 million (non-cash) write-down of company assets.

Without the write-down, Lee likely would have had positive earnings for the quarter, as opposed to the $1.09 per share loss it reported Thursday (December 8).

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.

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