|Traded as||NYSE: LEE|
Russell Microcap Index component
|Headquarters||Davenport, Iowa United States|
(President and CEO)
|Products||Newspapers and television station|
|Revenue||US$566.9 million (2017)|
|US$92.55 million (2017)|
|US$27.48 million (2017)|
|US$620.9 million (2017)|
Number of employees
|Website||Lee Enterprises website|
Lee Enterprises is a publicly traded American media company. It publishes 46 daily newspapers in 21 states, and more than 300 weekly, classified, and specialty publications. Lee Enterprises was founded in 1890 by Alfred Wilson Lee and is based in Davenport, Iowa.
The company also provides online services, including websites supporting its daily newspapers and other publications. Lee had more than 25 million unique web and mobile visitors monthly, with 209.1 million pages viewed. Lee became majority partner of TownNews.com in 1996; Town News creates software for newspaper publication purposes. The company offers commercial printing services to its customers.
Lee Enterprises is currently the fourth largest newspaper group in the United States of America. The company acquired Howard Publications (16 daily newspapers) for $694 million in 2002 and Pulitzer, Inc. (14 daily, over 100 non-daily), for $1.5 billion in 2005.
In December 2018, Lee Enterprises announced that Mary Junck would transition from Executive Chairman to Chairman of the company.
The company filed for Chapter 11 bankruptcy in 2011. It emerged from bankruptcy less than two months later. In April 2012, Warren Buffett took a stake in Lee Enterprises (through Berkshire Hathaway Inc.), buying $85 million of the company's debt from Goldman Sachs Group.
In June 2012, Berkshire Hathaway filed an amended Form 13F (13F-HR/A) for the period ending March 31, 2012. This document disclosed that Berkshire accumulated $2,119,000 or 1,655,125 common shares of Lee Enterprises, or a 3.2 percent stake. The document noted that the confidentiality of this transaction was requested but denied by the SEC on May 25, 2012.
In April 2013, Lee Enterprises announced that Berkshire Hathaway refinanced the remaining Pulitzer acquisition debt equating to $94 million. Lee Enterprises incurred no cost for doing this. The collateral involved was the TNI Partner stake including the Arizona Daily Star and azstarnet.com. The result of this was a reduction in interest from a variable rate of 11.3% to a fixed rate of 9% while at the same time extending the debt maturity date of the debt from December 2015 to April 2017. At the time of the announcement Lee Enterprises noted they had $893 million left to pay off. Lee paid off and retired its New Pulitzer notes in June 2015, 6 months before the original maturity date and 22 months before the new maturity date. Lee also refinanced its remaining debt in 2014 in order to extend the maturities from 2015 and 2017 to 2019 and 2022. Lee retired its 1st Lien Term Loan in November 2018, four months before its scheduled March 2019 maturity.
On June 27, 2018, Lee Enterprises and Berkshire Hathaway reached a five-year agreement to allow Lee Enterprises to manage Berkshire Hathaway's newspaper and digital operations.
Lee Enterprises owns many newspapers.
|Arizona||Flagstaff||Arizona Daily Sun|
|Tucson||Arizona Daily Star|
|Lompoc||The Lompoc Record|
|Napa||Napa Valley Register|
|Santa Maria||Santa Maria Times|
|Carbondale||The Southern Illinoisan|
|Decatur||Herald & Review|
|East Moline||The Dispatch / The Rock Island Argus|
|Eureka||Woodford County Journal / Woodford Star|
|Gibson City||Gibson City Courier|
|Mattoon||Journal Gazette & Times-Courier|
|Mason City||Globe Gazette|
|Osage||Mitchell County Press-News|
|Sioux City||Sioux City Journal|
|Waterloo||Waterloo-Cedar Falls Courier|
|Minnesota||Winona||Winona Daily News|
|Missouri||Park Hills||Daily Journal|
|St. Louis||St. Louis Post Dispatch|
|Town and Country||Suburban Journals|
|Nebraska||Beatrice||Beatrice Daily Sun|
|David City||The Banner-Press|
|Lincoln||Lincoln Journal Star|
|Plattsmouth||The Plattsmouth Journal|
|Nevada||Elko||Elko Daily Free Press|
|New York||Auburn||The Citizen|
|Glens Falls||The Post-Star|
|North Dakota||Bismarck||The Bismarck Tribune|
|Bandon||Bandon Western World|
|Coos Bay||The World|
|Reedsport||The Umpqua Post|
|South Carolina||Orangeburg||The Times and Democrat|
|South Dakota||Rapid City||Rapid City Journal|
|Washington||Longview||The Daily News|
|Wisconsin||Baraboo||Baraboo News Republic*|
|Beaver Dam||Daily Citizen*|
|Black River Falls||Jackson County Chronicle|
|Chippewa Falls||The Chippewa Herald|
|La Crosse||La Crosse Tribune|
|Lake Geneva||Lake Geneva Regional News|
|Madison||The Capital Times*|
|Wisconsin State Journal*|
|Mauston||Juneau County Star-Times*|
|Portage||Portage Daily Register*|
|Racine||Racine Journal Times|
|Sauk City||Sauk Prairie Eagle*|
|Viroqua||The Vernon Broadcaster|
|Westby||The Westby Times|
|Wisconsin Dells||Wisconsin Dells Events*|
Lee formerly operated a broadcasting division, which it sold in 2000 to pay off debt and in order to focus on newspaper publishing. Most of the TV stations were sold to Emmis Communications, and have all been sold, as of 2007, to other companies.
In addition, Lee also operated KASY-TV in Albuquerque which was owned by Ramar Communications. That station was a UPN affiliate. KASY was sold to WB affiliate KWBQ in 1999 when the LMA was terminated.