Lee Enterprises, Inc. - LEE STOCK NEWS

Lee Enterprises, Inc. (NASDAQ: LEE) responded to Alden Global Capital's recent lawsuit in the Delaware Court of Chancery, expressing disappointment at Alden's actions aimed at destabilizing the company. Lee's Board reinforced its position regarding plurality voting in the upcoming annual meeting, urging shareholders to vote 'FOR ALL' Board nominees using the 'WHITE' proxy card. Lee operates 77 markets with an average newspaper circulation of 1 million and over 47 million digital unique visitors.

Alden Global Capital has filed a lawsuit against Lee Enterprises to challenge the upcoming director election, alleging that Lee is disenfranchising shareholders by manipulating the voting process. The firm claims that Lee is using an illegal voting standard to ensure the reelection of directors Mary Junck and Herbert Moloney, despite the company's declining performance. Alden argues that shareholders deserve a fair election and is committed to ensuring that the board is accountable to investors. The stakes are high as these directors are up for reelection every three years.

Lee Enterprises (NASDAQ: LEE) has urged shareholders to vote for the Board’s nominees, emphasizing the board's digital growth strategy and leadership. The company highlighted its ongoing success in enhancing shareholder value while dismissing Alden Global Capital's recent attempts to nominate directors as distractions. A Delaware Court upheld Lee's decision against Alden's nominations, promoting stability within the company. The annual meeting is scheduled for March 10, 2022.

Lee Enterprises (NASDAQ: LEE) announced its 2022 Annual Meeting of Shareholders set for March 10, highlighting its Three Pillar Digital Growth Strategy aimed at generating over $435 million in recurring digital revenue by 2026. The company encourages shareholders to vote FOR the re-election of three key board members using the WHITE proxy card, underscoring their qualifications and the diverse skills they bring. The presentation can be accessed via Lee's investor relations website, emphasizing their strategy's role in value creation.

Alden Global Capital, which owns approximately 6.3% of Lee Enterprises (NASDAQ: LEE), is launching a "Vote No" campaign to remove incumbent board members Mary Junck and Herbert Moloney III. This initiative follows a Delaware court ruling that upheld the company's decision to dismiss Alden's independent director candidates. Alden claims that Junck and Moloney are responsible for poor corporate governance and performance, including excessive payments to related parties. Alden urges that a majority voting standard be used in the upcoming 2022 Annual Meeting to ensure accountability among directors.

Lee Enterprises announces that the Delaware Chancery Court has ruled in favor of its Board of Directors, rejecting Alden Global Capital's director nominations for the upcoming Annual Meeting on March 10, 2022.

The Court found Lee's Board acted reasonably in enforcing corporate bylaws, allowing Lee to proceed with its own nominees. Lee's Board is urging shareholders to vote for its three selected nominees to support the company's digital growth strategy.

TownNews and Tekan have entered an exclusive partnership, making TownNews the primary CMS provider for a coalition of Canadian publishers. This agreement marks a significant expansion for TownNews, which has a strong presence in the U.S. but limited reach in Canada. Tekan aims to enhance the digital advertising landscape for publishers by leveraging scale and cost efficiencies. TownNews' comprehensive technology stack includes advanced analytics, subscription tools, and multimedia publishing systems. Notably, Torstar will be the first Canadian publisher to adopt this solution.

Lee Enterprises, Incorporated (NASDAQ: LEE) issued a brochure urging shareholders to vote for its board's three nominees using the WHITE proxy card in advance of its Annual Meeting on March 10, 2022. The brochure emphasizes Lee's Three Pillar Digital Growth Strategy, which has produced strong results and is essential for the company's long-term goals. Lee aims to protect shareholder investments through continuity in its board leadership. All shareholders as of January 12, 2022, are eligible to vote, and additional details can be found on the company’s website.

Lee Enterprises reported strong first-quarter fiscal 2022 results, with net income of $13.2 million and total operating revenue of $202.3 million. Digital revenue surged to $55 million, up 17% year-over-year, driven by a 57% increase in digital-only subscribers, reaching 450,000. Subscription revenue contributed significantly, making up 53% of total revenue. Digital advertising revenue rose by 19%, supported by 69% growth at Amplified Digital Agency. The company aims for 495,000 digital-only subscribers by year-end 2022, forecasting total digital revenue of $230 million for the fiscal year.