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 (NASDAQ: LEE) announced a collaboration with Amazon Advertising to provide Over The Top (OTT) advertising services to over 35,000 local business advertisers. This initiative aligns with Lee's digital transformation strategy and aims to enhance advertising solutions in the rapidly growing OTT space. Through this partnership, advertisers can reach an unduplicated monthly audience of 120 million viewers via platforms like IMDb TV and Twitch. Lee's extensive local market presence and strong sales culture position it well to capitalize on this opportunity.
Lee Enterprises, a leading provider of local news and information, has appointed Alexa Wilson as vice president of brand and strategic marketing, effective May 17. This new role aims to enhance readership, subscriptions, and consumer engagement across Lee's digital and print products. Wilson, previously of NBCUniversal, brings extensive experience in digital media branding. Lee operates in 77 markets with an average daily circulation of 1.2 million newspapers and over 56 million digital unique visitors, reinforcing its position in local media.
Lee Enterprises reported second quarter fiscal 2021 results, with total operating revenue of $192.4 million and a net loss of $0.6 million. Digital-only subscribers increased by 58%, totaling 309,000. Adjusted EBITDA rose to $24.1 million, and total digital revenue reached $59.5 million, up 29.7% year-over-year. The company reduced debt by $25 million to $465 million. Despite a 8.1% decline in pro forma revenue, subscription revenue grew 1.8%, and digital marketing services saw growth of 26.3%.
Lee Enterprises (NASDAQ: LEE) announced an audio webcast and conference call scheduled for May 6, 2021, at 9 a.m. Central Time to discuss preliminary results for its second fiscal quarter ending March 28, 2021. A news release will precede the call, and the webcast will be accessible on lee.net, with a replay available shortly after. Lee Enterprises operates as a significant subscription and advertising platform, providing local news in 77 markets with an average daily circulation of 1.2 million. The company serves a vast audience of over 44 million digital unique visitors.
Lee Enterprises Joins Nasdaq
On April 19, 2021, Lee Enterprises (NASDAQ: LEE) completed its transfer to the Nasdaq Global Select Market, marking a significant milestone in its growth strategy. The company aims to enhance visibility among investors as it accelerates its digital transformation. President and CEO Kevin Mowbray emphasized the importance of this move in connecting with a broader investor audience and executing a strategy focused on recurring revenue growth. A virtual bell-ringing ceremony is set for April 20, 2021, to celebrate this achievement.
Lee Enterprises, a leading provider of local news, has outlined its three-pillar growth strategy aimed at enhancing digital transformation and boosting annualized recurring revenue. The strategy focuses on transforming local news presentation, accelerating subscription growth, and expanding offerings for advertisers. The company plans to grow its digital-only subscribers to 900,000 and aims for $100 million in annualized revenue from its Amplified Digital Agency within three years. Additionally, Lee will transfer its stock listing to the Nasdaq on April 19, 2021, to align with innovative tech leaders.
Lee Enterprises, a prominent digital and subscription news provider, has announced an audio webcast and conference call scheduled for April 5, 2021, at 9 a.m. Central Time. Executives will discuss the company's digital transformation and progress on its three-pillar growth strategy following its 2020 transaction with Berkshire Hathaway. The live webcast can be accessed via their investor relations page and will be available for replay shortly after.
Lee operates in 77 markets with average daily circulation of 1.2 million and over 55 million digital unique visitors.
Lee Enterprises (NYSE: LEE) announced the launch of Feast and Field, a new food-focused digital magazine designed to explore food production, culinary history, and cooking. This publication aims to engage and educate American consumers, enhancing their connection to local communities. Scheduled for nationwide release on March 15, 2021, it also offers unique advertising opportunities to local and national brands. With an average daily newspaper circulation of 1.2 million and over 43 million digital unique visitors, Lee continues to expand its digital footprint.
Lee Enterprises reported first-quarter fiscal 2021 results, highlighting significant progress in digital transformation. Total operating revenue reached $211.8 million, with a net income of $16.4 million. Digital-only subscribers surged by 69% year-over-year to 286,000, contributing to a 1.9% rise in subscription revenue. The company achieved $103 million in cost synergies ahead of schedule, bolstering its liquidity with $37.1 million in cash. Despite a 20% decline in total advertising revenue on a pro forma basis, the company noted improvements in its advertising revenue trends.
Lee Enterprises, a prominent provider of local news and advertising across 77 markets, has scheduled an audio webcast and conference call on February 4, 2021, at 9 a.m. Central Time. The call will discuss preliminary results for its first fiscal quarter ending December 27, 2020. Participants can access the webcast via the company's website or dial in using a toll-free number. Following its acquisition of BH Media Group, Lee now offers nearly 350 publications, reaching over 44 million digital visitors monthly. Lee's stock is traded under the symbol LEE.
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