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

on Fri, 01/18/2019 - 00:56   by news

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

on Tue, 06/26/2018 - 20:14   by news

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

on Fri, 08/04/2017 - 00:22   by news

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."

Lee pays off Berkshire Hathaway debt early; lays off eight St. Louis Post-Dispatch news employees

on Fri, 06/26/2015 - 21:04   by Editor

In an interesting coincidence involving Lee Enterprises' largest newspaper, the St. Louis Post-Dispatch, the Davenport-based media firm announced it had paid off debt related to acquisition of that paper in 2005, while confirming today (6/26) it was laying off eight St. Louis newsroom employees.

Lee Enterprises reports $10 million profit in 1st quarter; off 17 percent from same period last year

on Fri, 02/06/2015 - 22:05   by Editor

Lee Enterprises, Inc. – owner of the Quad City Times – reported first quarter earnings Thursday (2/5) of $10 million, down more than 17 percent for the same three months a year ago.

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