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, a local news provider across 73 US markets, has selected Amazon Web Services (AWS) as its Preferred Cloud Provider to modernize infrastructure and develop generative AI platforms. The partnership focuses on two key initiatives: cloud infrastructure modernization and innovative GenAI applications development.
Lee will utilize Amazon Bedrock, a managed service offering access to AI models through a single API, Amazon Redshift for data warehousing, and Amazon Nova foundation models for advanced AI capabilities. These technologies will enable hyper-local, personalized news and advertising services.
The company expects to launch its first GenAI products and services within the next year as part of a multi-year digital transformation initiative aimed at enhancing subscriber experiences and advertising services.
Lee Enterprises (NASDAQ: LEE) reported its Q4 and FY2024 results, highlighting significant digital transformation progress. Total Digital Revenue reached $82M in Q4, representing 51% of revenue. Digital-only subscription revenue grew 30% YOY, while Amplified Digital® Agency revenue increased 21% to $28M, approaching $100M for the fiscal year.
For FY2024, total operating revenue was $611M, with Digital Revenue at $299M (11% YOY increase) and Print Revenue at $312M (21% decrease). Operating expenses totaled $611M, with Adjusted EBITDA at $65M. The company maintains $446M in debt with BH Finance at 9% fixed interest rate.
Looking ahead to FY2025, Lee projects Total Digital Revenue growth of 7-10% and low-single-digit Adjusted EBITDA growth.
Lee Enterprises (NASDAQ: LEE) has announced a strategic partnership with ProRata.ai to revolutionize local news and advertising delivery. The collaboration focuses on developing hyper-personalized content experiences and real-time advertising solutions tailored for local search and AI search engines.
The partnership includes three main initiatives: implementing hyper-personalized local content delivery, developing real-time advertising solutions for local search engines, and integrating AI-driven insights into Lee's digital properties. The alliance aims to create sustainable economic and ethical attribution models for creators in the generative AI era.
Lee Enterprises (NASDAQ: LEE) has partnered with Perplexity through their Publishers' Program to enhance local journalism with AI technology. The collaboration focuses on two main initiatives: advertising innovation using data-driven solutions and future-ready strategies for content monetization.
The partnership aims to transform content delivery, deepen audience engagement, and create new revenue opportunities. Perplexity's AI search engine, which processes over 400 million queries monthly, will help Lee optimize advertising campaigns and strengthen local journalism across its 70+ US markets.
This strategic move positions Lee at the forefront of AI-driven media transformation, with the global AI market projected to reach $500 billion by 2025.
Lee Enterprises (NASDAQ: LEE) has announced a conference call and audio webcast scheduled for December 12, 2024, at 9 a.m. Central Time. The company will release preliminary results for its fiscal year ended September 29, 2024, before market opens. Lee Enterprises operates as a major subscription and advertising platform, providing local news across 73 markets in 26 states through daily newspapers, digital products, and nearly 350 weekly and specialty publications. Key markets include St. Louis, Buffalo, Omaha, Richmond, Lincoln, Madison, Davenport, and Tucson.
Lee Enterprises (NASDAQ: LEE) has announced its participation in the upcoming Sidoti August Virtual Investor Conference, scheduled for August 14-15, 2024. CEO Kevin Mowbray and CFO Tim Millage will lead a group presentation on August 15 at 1:00pm ET, which will be accessible live online. Additionally, they will host one-on-one meetings with investors on both days of the conference.
Interested parties can register for the presentation or schedule one-on-one meetings through the Sidoti website. The event is open to all, with no cost or client status required for registration. This conference provides an opportunity for investors to gain insights into Lee Enterprises' operations and future strategies directly from its top executives.
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.
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?
