lee enterprises (LEE) Key Developments
Lee Enterprises Announces Board Changes
May 28 15
Charles Arms has been promoted from the St. Louis Post-Dispatch to the corporate office of Lee Enterprises as director of corporate communications. He succeeds Dan Hayes, who has retired as a vice president after 45 years with Lee. Mary Junck, Lee chairman and chief executive officer, announced that Arms will become a member of the executive team, responsible for leading all aspects of internal and external corporate communications.
Lee Enterprises And St. Louis Post-Dispatch Mulls Sale of Headquarter Building
May 26 15
Lee Enterprises, Incorporated (NYSE:LEE) and St. Louis Post-Dispatch, LLC is seeking sale of headquarter building. The building that serves as the headquarters for St. Louis Post-Dispatch and other St. Louis operations will be listed for sale, Lee Enterprises, said on May 26, 2015. Hilliker Corp. has been engaged to market the property. St. Louis Post-Dispatch President and Publisher Ray Farris said the move creates an opportunity to improve operations at the area's largest media outlet. The 235,000-square foot building is listed for $4.25 million. Included in the deal are parking lots totaling 2.9 acres and able to hold 445 vehicles. The listing includes a one-year leaseback agreement that takes effect when the building is sold.
Lee Enterprises Planning To Sell Its Building
May 26 15
Lee Enterprises, Incorporated (NYSE:LEE) announced its plans to sell the building at 900 N. Tucker Blvd. since 2005. Hilliker Corp. will market the property.
Lee Enterprises Announces Executive Changes
May 19 15
Lee Enterprises has selected Michael Burns as publisher of the River Valley Newspaper Group. Burns, 47, will oversee operations at the La Crosse Tribune, Winona Daily News, The Chippewa Heraldand six additional non-daily publications. He is formerly the publisher of The Press-Enterprise in Riverside County, California. Burns’ career includes seven years with Freedom Communications — most recently as publisher of The Press-Enterprise and chief revenue officer of Freedom News Group. From 2008 to 2012, he was corporate vice president of sales and market development, and president and publisher of The Gazette Media Company in Colorado Springs, Colorado. He succeeds Rusty Cunningham, who was named editor of the La Crosse Tribune — a position he also held from 1997 to 2001.
Lee Enterprises, Incorporated Reports Preliminary Earnings Results for the Second Quarter Ended March 29, 2015
May 7 15
Lee Enterprises, Incorporated reported preliminary earnings results for the second quarter ended March 29, 2015. The company reported preliminary earnings of 3 cents per diluted common share for its second fiscal quarter ended March 29, 2015, the same earnings as a year ago. Excluding unusual matters, adjusted earnings per diluted common share totaled 2 cents, compared with earnings of 5 cents a year ago. Debt was reduced $20.3 million in the quarter and, when including $32 million borrowed to pay 2014 refinancing costs, debt was reduced $80.8 million in the last twelve months. Operating revenue for the 13 weeks ended March 29, 2015 totaled $155.5 million, an increase of 0.9% compared with a year ago. Excluding the impact of a subscription-related expense reclassification as a result of moving to fee-for-service delivery contracts at several of newspapers, operating revenue decreased 1.8%. Operating cash flow decreased 7.7% from a year ago to $30.2 million. Including equity in earnings of associated companies, depreciation and amortization, as well as unusual matters in both years, operating income totaled $20.2 million in the current year quarter, compared with $23.7 million a year ago.