Lee Enterprises Inc - LEE STOCK NEWS

Lee Enterprises (NASDAQ: LEE) reported significant progress in its digital transformation for Q3 FY2024. Total Digital Revenue reached 50% of total revenue, marking a important inflection point. Digital-only subscription revenue grew 34% year-over-year, with subscriptions up 23%. Amplified Digital® Agency revenue increased 12% to $26M.

Key highlights include:

• 748,000 digital subscribers, up 23% from last year
• Digital-only subscription revenue at $79M over the last 12 months
• Digital advertising and marketing services revenue at $50M, 72% of total ad revenue

Lee updated its FY2024 outlook, projecting Adjusted EBITDA between $73M-$78M and Total Digital Revenue of $310M-$330M. The company's debt stands at $453M with favorable terms, including a 25-year maturity and 9.0% fixed annual interest rate.

Lee Enterprises (NASDAQ: LEE), a leading provider of local news and information, has announced its upcoming quarterly earnings call and webcast scheduled for August 1, 2024, at 9 a.m. Central Time. The company plans to release its preliminary results for the third quarter ended June 23, 2024, before the market opens on the same day.

Investors and interested parties can access the live webcast through Lee's Investor Relations website or participate via telephone by registering in advance. Lee Enterprises operates in 73 markets across 26 states, offering daily newspapers, digital products, and nearly 350 weekly and specialty publications. The company's core focus is on delivering valuable, local news and information to its communities.

Lee Enterprises (NASDAQ:LEE) has appointed Madeline McIntosh and Jon Miller, two pioneering digital media executives, to its board of directors. This strategic move aims to accelerate Lee's digital transformation in news, information, and advertising delivery. McIntosh, CEO of Authors Equity, brings expertise in digital innovation and business transformation. Miller, with extensive experience in technology and media, has held leadership positions at AOL and News Corp Digital Media Group.

Both new directors bring unique perspectives to help propel Lee's digital successes. McIntosh is known for nurturing creative talent in the age of AI, while Miller has a track record of innovation in digital media. Their appointments are expected to support Lee's mission of providing high-quality local news and information to engaged readers nationwide, leveraging their expertise in digital technology and consumer marketing.

Lee Enterprises, Incorporated (NASDAQ: LEE) will participate in the Sidoti May Virtual Investor Conference on May 8-9, 2024. The CEO and CFO will hold a group presentation and one-on-one meetings with investors. Registration is free for all interested parties.

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.

Lee Enterprises, Incorporated (NASDAQ: LEE) has announced a conference call and webcast scheduled for May 2, 2024, to discuss preliminary results for its second quarter. The company is a major player in the subscription and advertising platform, providing local news and information in 73 markets.

Lee Enterprises, Incorporated (NASDAQ: LEE) announced the adoption of a -duration shareholder rights plan in response to Quint Digital 's significant accumulation of over 12.4% of Lee's common stock. The plan aims to protect all shareholders' long-term value and ensure fair treatment in the event of a takeover. The Board may consider terminating the plan earlier if needed.

Lee Enterprises, Incorporated (NASDAQ: LEE) reported impressive first quarter fiscal 2024 financial results, with a 6% YOY growth in Adjusted EBITDA and a 60% YOY increase in total digital revenue. Digital-only subscribers reached 735,000, representing a 30% YOY increase, and digital revenue accounted for 46% of total operating revenue. The company's Three Pillar Digital Growth Strategy is driving audience growth, consumer engagement, and digital subscription revenue. Despite a decline in operating expenses and cash costs, net income was $1 million. The company's 2024 fiscal year outlook remains unchanged, with expectations of continued growth in digital revenue and digital-only subscribers. Lee Enterprises has $454 million of debt outstanding and $15 million in cash on the balance sheet, with favorable terms under the Credit Agreement with BH Finance.