Lee Enterprises, Inc. publishes local news and information through a digital-first subscription and advertising platform serving U.S. communities. The company’s products include digital subscription platforms, daily newspapers, weekly and specialty publications, websites, mobile apps and niche products that carry local, national and international news.
News about Lee Enterprises commonly covers quarterly operating results, digital revenue mix, advertising and subscription trends, print-revenue management, debt and cash-flow actions, and governance changes. Company updates also include local-content partnerships, such as high school sports coverage, and capital-structure developments tied to equity investment, credit-facility terms and common-stock authorization matters.
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.