Lee Enterprises
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Lee Enterprises
Lee Enterprises
Traded asNYSELEE
Russell Microcap Index component
FounderA.W. Lee
HeadquartersDavenport, Iowa United States
Key people
Mary Junck
(Executive Chairman)
Kevin Mowbray
(President and CEO)
ProductsNewspapers and television station
RevenueDecreaseUS$566.9 million (2017)[1]
DecreaseUS$92.55 million (2017)[1]
DecreaseUS$27.48 million (2017)[1]
DecreaseUS$620.9 million (2017)[1]
Number of employees
Decrease 3,597[2]
WebsiteLee Enterprises website

Lee Enterprises is a publicly traded American media company. It publishes 46 daily newspapers in 21 states,[3] and more than 300 weekly, classified, and specialty publications. Lee Enterprises was founded in 1890 by Alfred Wilson Lee[3] and is based in Davenport, Iowa.[4]

The company also provides online services, including websites supporting its daily newspapers and other publications. Lee had more than 25[3] million unique web and mobile visitors monthly, with 209.1 million pages viewed. Lee became majority partner of TownNews.com in 1996[4]; Town News creates software for newspaper publication purposes. The company offers commercial printing services to its customers.[4]

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[5] and Pulitzer, Inc. (14 daily, over 100 non-daily), for $1.5 billion in 2005.[6]

From January 2012 to April 2017, the company's executive chairman, Mary Junck, was chairman of the Associated Press.[7]

In December 2018, Lee Enterprises announced that Mary Junck would transition from Executive Chairman to Chairman of the company.[8]

Chapter 11 bankruptcy, debt discharge and reorganization (2011)

The company filed for Chapter 11 bankruptcy in 2011.[9] 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.[10]

In June 2012, Berkshire Hathaway filed an amended Form 13F (13F-HR/A) for the period ending March 31, 2012.[11] This document disclosed that Berkshire accumulated $2,119,000 or 1,655,125 common shares of Lee Enterprises, or a 3.2 percent stake.[12] The document noted that the confidentiality of this transaction was requested but denied by the SEC on May 25, 2012.[13]

Bailout and Debt recapitalization (2013-14)

In April 2013, Lee Enterprises announced that Berkshire Hathaway refinanced the remaining Pulitzer acquisition debt equating to $94 million.[14] 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.[15]


Lee Enterprises owns many newspapers.[16]

State City Newspaper
Arizona Flagstaff Arizona Daily Sun
Tucson Arizona Daily Star
California Hanford The Sentinel
Lompoc The Lompoc Record
Napa Napa Valley Register
Santa Maria Santa Maria Times
Idaho Twin Falls Times-News
Illinois Bloomington The Pantagraph
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
Kankakee Daily Journal
Mattoon Journal Gazette & Times-Courier
Indiana Munster The Times
Iowa Davenport Quad-City Times
Mason City Globe Gazette
Osage Mitchell County Press-News
Muscatine Muscatine Journal
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
Montana Billings Billings Gazette
Butte Montana Standard
Hamilton Ravalli Republic
Helena Independent Record
Missoula Missoulian
Nebraska Beatrice Beatrice Daily Sun
Columbus Columbus Telegram
David City The Banner-Press
Fremont Fremont Tribune
Lincoln Lincoln Journal Star
Plattsmouth The Plattsmouth Journal
Schuyler Schuyler Sun
Nevada Elko Elko Daily Free Press
New York Auburn The Citizen
Glens Falls The Post-Star
North Dakota Bismarck The Bismarck Tribune
Oregon Albany Albany Democrat-Herald
Bandon Bandon Western World
Coos Bay The World
Corvallis Corvallis Gazette-Times
Lebanon Lebanon Express
Reedsport The Umpqua Post
Pennsylvania Carlisle The Sentinel
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
Kenosha Kenosha News
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
Reedsburg Reedsburg Times-Press*
Sauk City Sauk Prairie Eagle*
Viroqua The Vernon Broadcaster
Westby The Westby Times
Wisconsin Dells Wisconsin Dells Events*
Wyoming Casper Casper Star-Tribune

* Newspaper owned by Capital Newspapers, a partnership with The Capital Times Company.

Television subsidiary sale (2000)

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[17], and have all been sold, as of 2007, to other companies.

  • (**) - Indicates that it was built and signed on by Lee Enterprises.

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.


  1. ^ a b c d http://lee.net/lee-enterprises-inc--k/pdf_ad936880-014a-11e8-a482-57c9f5ad0989.html
  2. ^ Lee Enterprises Inc.: publishing, newspapers, online, shoppers, classified, specialty publications
  3. ^ a b c Enterprises, Lee. "About". Lee Enterprises. Retrieved .
  4. ^ a b c TownNews.com. "About TownNews.com". TownNews.com. Retrieved .
  5. ^ "Lee Enterprises Buys Howard Publications". Editor & Publisher. February 2, 2002. Retrieved 2012.
  6. ^ Steinberg, Jacques (February 1, 2005). "Pulitzer to Be Acquired by Lee Enterprises". New York Times. Retrieved 2012.
  7. ^ ""Mary Junck of Lee Enterprises named new AP board chairman", Associated Press press release, January 26, 2012". Archived from the original on 2015-05-05. Retrieved .
  8. ^ "Mary Junck moves to chairman of Lee Enterprises". Lee Enterprises. Retrieved .
  9. ^ "Newspaper group Lee Enterprises files for bankruptcy", Thomson Reuters, December 12, 2011.
  10. ^ "Warren Buffett Building Newspaper Empire? - Deal Journal -". blogs.wsj.com. 2012. Retrieved 2012.
  11. ^ "Berkshire Hathaway SEC Archives March 31, 2012 13F-HR/A amendment"
  12. ^ Reuters (June 6, 2012). "Shares of Lee Enterprises Surge After Buffett Buys Stake". New York Times. Retrieved 2012.
  13. ^ Kraut, Dan (June 5, 2012). "Buffett's Berkshire Discloses Stake In Lee Enterprises". Bloomberg. Retrieved 2012.
  14. ^ "Lee Enterprises refinances $94 million in debt". nwitimes.com. April 30, 2013. Retrieved 2013.[permanent dead link]
  15. ^ "Warren Buffett loves his newspapers, he just wants someone else to manage them for him". cnbc.com. June 26, 2018. Retrieved 2018.
  16. ^ "Lee Enterprise Markets". Retrieved 2015.
  17. ^ "Lee Enterprises Inc.: publishing, newspapers, online, shoppers, class...". archive.is. 2013-02-21. Archived from the original on 2013-02-21. Retrieved .

External links

Official website

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.



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