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 its second quarter fiscal 2022 results, showcasing strong digital growth despite declines in print revenue. Total digital revenue reached $58 million, a 33% year-over-year increase, comprising 31% of total operating revenue. Digital-only subscribers grew by 59% to 492,000, while digital advertising revenue soared 36% to $43 million. Operating expenses rose by 5% due to investments in digital talent. The net loss totaled $6.7 million, with adjusted EBITDA at $16.9 million. Lee is well-positioned to meet its fiscal year digital revenue targets.
Lee Enterprises has announced an audio webcast and conference call for May 5, 2022, at 9 a.m. Central Time to discuss preliminary results for its second fiscal quarter ending March 27, 2022. A news release with the financial details will be issued before the market opens that day. The live webcast will be accessible through the company's website and available for replay afterward. Lee operates a significant subscription and advertising platform, serving 77 markets with a daily circulation of approximately 1 million.
Lee Enterprises, a leading subscription and advertising platform, announced that CEO Kevin Mowbray and CFO Tim Millage will present at NobleCon18 on April 20, 2022, at 12:30 PM EDT. The conference will be held at the Hard Rock Hotel & Casino in Hollywood, Florida. A high-definition video webcast of the presentation will be available on the company's website the following day and archived for 90 days. Lee Enterprises operates in 77 markets with a daily circulation of 1 million and reaches over 47 million digital unique visitors. The company's stock is traded under the symbol LEE.
Lee Enterprises (NASDAQ: LEE) has launched STL Pinch Hits, a new subscription-based platform dedicated to coverage of the St. Louis Cardinals. This baseball-exclusive site and app aim to provide comprehensive journalism, including minor league insights and historical analysis. With STL Pinch Hits, subscribers gain access to exclusive newsletters and text messaging features, enhancing audience connection. The initiative follows the successful launch of HuskerExtra, indicating Lee's commitment to expanding its sports content offerings in response to audience demand.
Lee Enterprises Inc. (NASDAQ: LEE) announced that at its 2022 Annual Meeting, shareholders overwhelmingly supported the re-election of three director nominees, including Chairman Mary E. Junck, Lead Independent Director Herb W. Moloney, and CEO Kevin D. Mowbray. Each nominee received over 70% of the votes cast, with record participation of 75% from shareholders, a notable increase from previous years. The results signify strong shareholder backing against Alden Global Capital's campaign. Lee aims to continue its digital growth strategy while delivering valued local journalism.
Lee Enterprises, Inc. (NASDAQ: LEE) encourages shareholders to vote “FOR” its board nominees at the upcoming annual meeting on March 10, 2022. The letter emphasizes the endorsement from Institutional Shareholder Services (ISS) for the WHITE proxy card and highlights the company's progress in its Three Pillar Digital Growth Strategy. Furthermore, it mentions recent lawsuits filed by Alden Global Capital, which were dismissed by the Delaware Court of Chancery. Shareholders are reminded to ensure their votes are counted by voting via phone or internet.
Lee Enterprises Inc. (NASDAQ: LEE) announced that Institutional Shareholder Services (ISS) has endorsed its three director nominees for the upcoming Annual Meeting on March 10, 2022. The ISS report underscored Lee's strong total shareholder return (TSR) and its strategy for digital transformation, aiming for $100 million in digital-only revenue by 2026. The company urges shareholders to vote "FOR" the nominees using the WHITE proxy card, while rejecting the opposing campaign by Alden Global Capital, which ISS deemed unsubstantiated.
Lee Enterprises (NASDAQ: LEE) announced that the Delaware Court of Chancery has denied all motions by Alden Global Capital aimed at delaying its 2022 Annual Meeting, scheduled for March 10, 2022. This ruling marks the second recent court decision rejecting Alden’s attempts to destabilize Lee and its undervalued acquisition proposal. Lee encourages shareholders to vote for its director nominees at the upcoming meeting. The company highlights its significance as a major subscription and advertising platform, serving local news across 77 markets in 26 states.
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.
FAQ
What is the current stock price of Lee Enterprises (LEE)?
What is the market cap of Lee Enterprises (LEE)?
What is Lee Enterprises, Inc.?
When was Lee Enterprises founded?
What products and services does Lee Enterprises offer?
Who recently joined Lee Enterprises as secretary and general counsel?
How extensive is Lee Enterprises' digital reach?
What notable historical figures are associated with Lee Enterprises?
What are some of the major markets served by Lee Enterprises?
How can I contact Lee Enterprises for more information?
What is the average daily circulation of Lee's newspapers?
Where can I find the latest financial information about Lee Enterprises?
