Welcome to our dedicated page for Lee Enterprises SEC filings (Ticker: LEE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Lee Enterprises, Inc. filings document the formal disclosures of a Nasdaq-listed local media company with common stock outstanding. The record includes Form 8-K reports on preliminary operating results, Regulation FD materials, executive appointments, annual-meeting voting results, shareholder proposal deadlines, material agreements and capital-structure changes.
Proxy statements and related meeting filings describe board elections, executive compensation, charter and share-authorization matters, stock issuance approvals and shareholder voting mechanics. Other disclosures address the company’s digital-subscription and advertising model, the transition from print media, credit-facility and debt terms, preferred share purchase rights, governance practices and risk factors including advertising demand, subscription trends, technology systems, cybersecurity, labor costs, newsprint and other input costs, competition and Nasdaq listing status.
Lee Enterprises, Incorporated reports 2025 results that highlight a fast digital transition alongside pressured print operations and a major cyber event. Total operating revenue was $562 million, down 8%, split between $298 million in digital revenue (flat year over year) and $264 million in print revenue (down 15%). Digital-only subscription revenue grew 11.8% to $94.2 million, helping support a base of more than 633,000 digital-only subscribers and about 890,000 total digital and print subscribers.
Operating expenses were $571 million, including $3.7 million of cyber restoration expenses, and Cash Costs were $524 million, both decreasing versus 2024. The company reported a $36 million net loss and $45 million of Adjusted EBITDA, with year-end cash of $10 million and net debt of $445 million under a term loan originally sized at $576 million and bearing 9% interest. A February 2025 cyberattack reduced cash flows by $10.5 million and disrupted operations.
To improve its balance sheet, Lee has filed for a proposed rights offering of up to $50 million. If fully subscribed and followed by a term loan amendment, the lender has agreed in principle to cut the loan’s interest rate from 9% to 5% for five years, which would reduce annual interest expense by about $18 million. The company continues to emphasize digital subscriptions, its Amplified Digital agency, and cost control while managing secular print declines, high leverage and cybersecurity risk.
Lee Enterprises, Incorporated filed a Form 8-K announcing it has reported preliminary results for its fourth quarter ended September 28, 2025, and has released an accompanying earnings news release and investor presentation. These materials, including the news release as Exhibit 99.1 and presentation materials as Exhibit 99.2, were also used during the company’s earnings conference call and posted on its investor website.
The presentation materials include information and financial figures that describe the company’s expectation that it can become sustainable without relying on print media within five years, underscoring an emphasis on its long-term digital and non-print business model.
Lee Enterprises, Incorporated reported that its Vice President, Chief Financial Officer, and Treasurer, Timothy R. Millage, has decided to resign to pursue an opportunity in church ministry. His resignation will be effective February 28, 2026, and he will continue to provide consulting services through May 31, 2026.
The company states that Mr. Millage’s decision is for personal reasons and not due to any disagreement with its operations, policies, or practices. Lee Enterprises has begun a search process to identify a new chief financial officer, aiming to manage the transition in its financial leadership.
Under a separation agreement dated November 20, 2025, Mr. Millage will receive full compensation through his consulting period, a severance payment equal to twenty-six weeks of base salary, accelerated vesting of all unvested stock awards on February 28, 2026, and continued indemnification protections.
Lee Enterprises called a special meeting to seek stockholder approval for three charter amendments: increasing authorized common stock from 12,000,000 to 32,000,000 shares, creating up to 20,000,000 shares of Non‑Voting Common Stock, and authorizing up to 10,500,000 shares of blank‑check preferred. An adjournment proposal is also included.
The company links these actions to a contemplated equity rights offering of up to $50.0 million, with expected use of proceeds for general corporate purposes including technology investments. If the full amount is raised, the term loan lender has agreed in‑principle to reduce the annual interest rate from 9% to 5% for five years, which the company estimates at approximately $18 million in annual savings and up to $90 million over five years, subject to definitive documentation. The rights offering is expected to commence only after approval of the common stock increase and the non‑voting class. The Board unanimously recommends voting “FOR” all proposals. Shares outstanding were 6,262,967 as of October 22, 2025; this is a baseline figure, not the amount being offered.
Lee Enterprises (LEE) announced plans to pursue a rights offering and call a Special Meeting of stockholders, as disclosed in an 8-K. The company posted a press release on its website (Exhibit 99.1) and noted the communication is furnished under Item 7.01. The filing is also marked as soliciting material under Rule 14a-12.
The company filed a preliminary proxy statement on November 3, 2025 and intends to file and distribute a definitive proxy statement for the Special Meeting. Stockholders will be asked to consider proposals related to these actions. Lee stated that definitive materials will be available through the SEC’s website and its investor relations page.
Lee Enterprises (LEE) filed an S-1 for a rights offering of up to $50.0 million. The company will distribute non-transferable subscription rights to existing holders of voting common stock. Each right includes a basic right and an over‑subscription privilege, with any unsubscribed shares eligible for placement by Oppenheimer & Co. at the same subscription price for up to 45 days after expiration.
Proceeds will be used for general corporate purposes, including capital expenditures, working capital, and technology investments. The offering requires stockholder approval of charter amendments to increase authorized voting shares and to authorize convertible non‑voting common stock, which automatically converts into voting stock on the third anniversary of issuance.
Lee disclosed in‑principle Term Loan amendments with BH Finance that, upon receipt of the full $50.0 million gross proceeds, would reduce the loan’s interest rate to 5.0% from 9.0% for five years, implying about $18.0 million in annual interest savings based on June 29, 2025 principal. Oppenheimer will serve as dealer‑manager; a $2,500,000 fee is payable upon consummation.
Lee Enterprises, Inc. called a special stockholder meeting to vote on charter amendments that expand its capital structure. The board unanimously recommends voting FOR all proposals.
The agenda includes: increasing authorized common stock from 12,000,000 to 24,000,000 shares (Proposal 1); creating a new class of Non‑Voting Common Stock with up to 12,000,000 shares that automatically convert into common stock on the third anniversary of issuance, subject to customary adjustments (Proposal 2); and authorizing up to 10,500,000 shares of “blank check” preferred stock (Proposal 3). An adjournment proposal (Proposal 4) would allow extra time if needed to secure approvals.
The company states these changes would provide flexibility for potential financing, equity incentives, and strategic transactions. Shares outstanding were 6,262,967 as of October 22, 2025 for voting eligibility. Approval thresholds vary: Proposal 1 requires more FOR than AGAINST votes; Proposals 2 and 3 require a MAJORITY of outstanding shares; Proposal 4 requires a MAJORITY of shares represented and entitled to vote at the meeting. The meeting will be held exclusively online.
Lee Enterprises, Incorporated called a special shareholder meeting to vote on a Charter Amendment that would increase authorized common stock from 12,000,000 to 24,000,000 shares, and on an adjournment proposal. The meeting will be held virtually on November 25, 2025 at 9:00 a.m. CT.
The Board unanimously recommends voting FOR both proposals. The company states the increase would provide flexibility for future needs such as financing transactions, equity incentives, and potential strategic deals, noting limited remaining capacity under current authorization. The Board may elect not to implement the amendment even if approved.
Future issuances could dilute earnings per share and voting power at the time of issuance. Shares outstanding were 6,262,967 as of the October 22, 2025 record date. Approval of each proposal requires a majority of shares represented and entitled to vote at the meeting.
Lee Enterprises reported total operating revenue of $423.2 million for the nine months ended June 29, 2025, a 6.5% decline from the prior year, driven by continued print revenue declines. Digital revenue (digital advertising, digital subscriptions and digital services) grew 3.0% year-over-year and represented 52.9% of total revenue; digital-only subscribers totaled 670,000. Operating loss was $3.2 million for the nine months, and net loss widened to $29.9 million, or $5.16 per diluted share.
The company reported a material cybersecurity incident on February 3, 2025 that management estimates reduced revenue by more than $10 million, incurred $3.1 million of remediation expenses year-to-date (recorded in restructuring and other), and has led to putative class actions. Lee held $14.1 million in cash at June 29, 2025, reported Adjusted EBITDA of $30.3 million for the nine months, and carries a $455.9 million 25-year term loan at a 9% fixed rate (fair value $375.6 million). LEE had a stockholders' deficit of approximately $40.5 million at period end.
On 7 Aug 2025 Lee Enterprises, Inc. (NASDAQ: LEE) furnished an 8-K announcing preliminary results for the quarter ended 29 Jun 2025. The company released an earnings news release (Ex. 99.1) and a management slide deck (Ex. 99.2), both posted on investors.lee.net and discussed on its earnings call. These exhibits contain the detailed financial data and forward-looking commentary.
Management’s presentation states an expectation that Lee can operate sustainably without reliance on print media within five years, underscoring its ongoing digital transformation strategy. The information is provided under Items 2.02 and 7.01 and is deemed “furnished” rather than “filed,” limiting liability under Exchange Act §18. No specific revenue, earnings or cash-flow figures appear in the body of the 8-K itself.