USA TODAY Co. and Lee Enterprises Realign Local Newspaper Portfolios

Lee’s planned acquisitions add publications in two states where it already operates newspapers.

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Complementary Transaction Supports Local Journalism in Arizona, Montana and South Dakota

NEW YORK, NY--(BUSINESS WIRE)-- USA TODAY Co., Inc. (NYSE: TDAY) and Lee Enterprises, Incorporated (NASDAQ: LEE) announced today strategic agreements that signal an exciting next chapter for both organizations, effective immediately. The agreements conclude TNI Partners, the joint venture involving the Arizona Daily Star, where Lee Enterprises led the Arizona Daily Star’s newsroom, production and related technology operations, while USA TODAY Co. managed advertising and sales, accounting and finance functions. USA TODAY Co. will assume full ownership and operations of the Arizona Daily Star. This marks the beginning of a new chapter for local journalism and community engagement across Arizona where USA TODAY Co. owns The Arizona Republic.

At the same time, Lee Enterprises will acquire publications in South Dakota and Montana respectively to include the Sioux Falls Argus Leader, the Aberdeen American News (including the Farm Forum), the Watertown Public Opinion and the Great Falls Tribune. Lee Enterprises maintains a strong footprint across Montana through the Billings Gazette, Independent Record, Missoulian, The Montana Standard and Ravalli Republic, as well as the Rapid City Journal in South Dakota.

These transactions allow each company to be better positioned to focus resources where they can have the greatest local impact. Aligning these trusted brands in these markets enables both companies to invest in growth, serve local audiences and support the future of community journalism.

“These thoughtful transactions reflects a strategic decision to best serve these communities and support the future of local journalism,” said Michael A. Anastasi, Senior Vice President of Local News, USA TODAY Network. “As leaders in the industry, we have a responsibility to ensure local news organizations are positioned for long-term success. We are proud to welcome the Arizona Daily Star and its talented team to the USA TODAY Network and look forward to building on its longstanding tradition of trusted local journalism.”

“We’re honored to deepen our commitment to the communities of Montana and South Dakota,” said Nathan Bekke, Lee’s President and Chief Executive Officer. “Across the 193 brands we serve in 28 states, our focus is the same: providing trusted local news and information that helps people stay informed, connected and engaged in their communities.”

ABOUT USA TODAY CO., INC.

USA TODAY Co., Inc. is a diversified media company with expansive reach at the national and local level dedicated to empowering and enriching communities. Our mission is to inspire, inform, and connect audiences. As a media and digital marketing solutions company we are focused on sustainable growth. Through our trusted brands, including the USA TODAY NETWORK, comprised of the national publication, USA TODAY, and our network of local properties, in the United States, and Newsquest, a wholly-owned subsidiary operating in the United Kingdom, we provide essential journalism, local content, and digital experiences to audiences and businesses. We deliver trusted unbiased journalism when and where consumers want it. LocaliQ, our digital marketing solutions brand, supports small and medium-sized businesses with innovative digital marketing products and solutions.

ABOUT LEE ENTERPRISES, INC.

Lee Enterprises is a leading provider of local news and information and a major subscription and advertising platform, with 193 owned and managed brands across 28 states. Lee's markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; and Davenport, IA. Lee Common Stock is traded on NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that relate to our current expectations and views of future events. All statements other than statements of historical facts contained in this press release, including statements relating to whether this transaction will enable USA TODAY Co. to increase sales or revenues, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” “could,” “will,” “would,” “ongoing,” “future” or the negative of these terms or other similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, contingencies, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance, or achievements to be materially and/or significantly different from any future results, performance or achievements expressed or implied by the forward-looking statement. For a discussion of some of the risks and important factors that could cause actual results to differ materially from our expectations, see the risks and other factors detailed in “Item 3. Key Information - Risk Factors” in USA TODAY Co.’s (fka Gannett Co., Inc.) 2025 Annual Report on Form 10-K and USA TODAY Co.’s (fka Gannett Co., Inc.) quarterly reports on Form 10-Q and USA TODAY Co.’s (fka Gannett Co., Inc.) other filings with the SEC, in each case as such factors may be updated from time to time. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. USA TODAY Co. disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928771743/en/

MEDIA CONTACTS
USA TODAY Co.
hgidaly@usatodayco.com


Lee Enterprises
IR@lee.net

Source: USA TODAY Co., Inc.

Key Terms

joint venture financial

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.