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, Incorporated (NASDAQ: LEE) announced compliance with Nasdaq listing standards following a letter received on March 3, 2023. This letter concludes a listing standard delinquency matter initiated on December 28, 2022, after the company filed its 2022 Annual Report (Form 10-K) on February 27, 2023, and its first-quarter 2023 report (Form 10-Q) on March 2, 2023. The company now adheres to Nasdaq Listing Rule 5250(c)(1), ensuring timely periodic report filings with the SEC. Lee operates a significant digital-first subscription platform offering local news and information across 77 markets, with an average daily newspaper circulation of 1.0 million and over 38 million digital unique visitors.
Lee Enterprises, Inc. (NASDAQ: LEE) reported a strong first quarter for fiscal 2023, ending December 25, 2022. Total operating revenue reached $185 million, while total digital revenue rose to $65 million, marking a 17% year-over-year increase. Digital-only subscribers grew by 25% to 564,000, driving a 56% increase in digital subscription revenue. Amplified Digital revenue surged by 45% to $21 million. Despite broader economic headwinds, the company reaffirmed its Adjusted EBITDA guidance for the fiscal year, targeting between $94 million and $100 million. Notably, operating expenses fell by 5%, and net income was $2 million.
Lee Enterprises, a key player in subscription and advertising, has announced an audio webcast and conference call for March 2, 2023, at 9 a.m. Central Time. This call will discuss preliminary results for the 1st quarter ending December 25, 2022. The company’s annual report on Form 10-K was filed recently, confirming that revenue and Adjusted EBITDA figures remain unchanged from December 9, 2022. Lee operates in 77 markets, reaching over 1.0 million daily newspaper readers and 38 million digital visitors. Investors can access the webcast on Lee's website or register for the conference call to participate live.
Lee Enterprises (NASDAQ: LEE) received a notification from Nasdaq regarding its non-compliance with timely filing rules due to delays in submitting its Annual Report on Form 10-K for fiscal year ending September 25, 2022, and the Quarterly Report on Form 10-Q for the period ending December 25, 2022.
The company has 60 days from February 27, 2023, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days to regain compliance. Failure to do so could lead to delisting. Although the company is working to complete the reports, no specific filing date has been assured. The company does not anticipate material impacts on previously released preliminary financial results.
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