Welcome to our dedicated page for Lee Enterprises news (Ticker: LEE), a resource for investors and traders seeking the latest updates and insights on Lee Enterprises stock.
Lee Enterprises, Inc. (NASDAQ: LEE) is a leading provider of local news, information, and advertising services predominantly in midsize markets. Established in 1890 by A.W. Lee in Iowa, the company has a rich history, with its newspapers tracing origins back to the mid-1800s. Among its notable alumni, the teenage Samuel Clemens, later known as Mark Twain, contributed to the Muscatine Journal in Iowa.
Today, Lee Enterprises operates 46 daily newspapers and has joint interests in two additional newspapers. The company also boasts nearly 300 specialty publications in 21 states, catering to local communities with high-quality, trusted, and intensely local news and information. This traditional newspaper foundation is augmented by rapidly growing digital products, reflecting the company's commitment to evolving with the digital landscape.
Lee's product portfolio includes digital subscription platforms, daily, weekly, and monthly newspapers, and niche products. These offerings deliver original local news, national and international news, and a variety of advertising and marketing services. The content is accessible in both print and digital formats, ensuring real-time availability through websites and mobile apps. Major markets served include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ.
Recently, Theodore F. Olt III was elected by the board to serve as the new secretary and general counsel, succeeding C. Dana Waterman III. This transition marks a significant leadership change, aligning with Lee's ongoing digital transformation and strategic growth initiatives. Olt's extensive legal background, including his tenure at Lane & Waterman LLP, positions him well to support Lee's corporate governance and transactional matters.
Lee Enterprises has consistently demonstrated financial resilience, with recent reports detailing strong operational performance and strategic adjustments to protect long-term shareholder value. The company’s newspapers have an average daily circulation of 1.0 million, and its digital platforms reach over 33 million unique visitors monthly. This robust digital presence underscores Lee's commitment to delivering premium local content while expanding its digital footprint.
For more information, visit their official website at www.lee.net or contact the investor relations team at IR@lee.net.
Lee Enterprises reported a 5% year-over-year growth in Adjusted EBITDA, with digital-only subscription revenue increasing by 48%. Total digital revenue reached $71 million, representing 48% of total revenue. The company aims to achieve a digital inflection point where more than 50% of revenue is digital. Second-quarter highlights include $147 million in total operating revenue, $71 million in total digital revenue, and $15 million in Adjusted EBITDA. The 2024 fiscal year outlook includes targets for total digital revenue, digital-only subscribers, and Adjusted EBITDA. The company has $454 million in debt and $16 million in cash on the balance sheet, with favorable financing terms.
Lee Enterprises, Incorporated (NASDAQ:LEE) has appointed Les Ottolenghi as Chief Transformation and Commercial Officer. Ottolenghi's vast experience in technology and cybersecurity will drive Lee's digital growth, data business, and digital leadership. His role aims to exceed the company's growth targets and strengthen market position.
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