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LEE $28.5

LEE target price
28.50
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Lee Enterprises
Type
Public (NYSE: LEE)
Industry Media
Founded 1890
Founder A. W. Lee
Headquarters Davenport, Iowa United States
Key people
Mary Junck
(Executive Chairman)
Kevin Mowbray
(President and CEO)
Products Newspapers and television station
Revenue IncreaseUS$648.5 million (2015)
Operating income
IncreaseUS$109.3 million (2015)
Net income
IncreaseUS$24.31 million (2015)
Total assets DecreaseUS$763.5 million (2015)
Number of employees
3,485
Website Lee Enterprises website

Lee Enterprises is a publicly traded American media company. It publishes 54 daily newspapers in 23 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. As of September 2013, Lee had 23.2 million unique web and mobile visitors, with 209.1 million pages viewed. Lee also owns 82.5% of TownNews.com, an Internet service company. 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.

Since January 2012, its Executive Chairman, Mary Junck, has also been Chairman of the Associated Press.

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.

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

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[1], 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.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2022-11-30 Future report Set alerts
Q3 2022 2022-08-04 -0.05 -0.05
Q2 2022 2022-05-05 -1.26 -1.26
Q1 2022 2022-02-03 2.17 2.17
Q4 2021 2021-12-03 0.00 0.00
Q3 2021 2021-08-05 0.00 0.00
Q2 2021 2021-05-06 0.00 0.00
Q1 2021 2021-02-04 0.00 0.00
Q1 2020 2021-02-04 0.00 0.00
Q1 2019 2019-02-07 0.00 0.18

Ratings

9539-03-19
9507-04-02
7423-02-26
6652-03-31
4707-03-09
2371-03-21
2008-01-07 Reiterated Deutsche Securities Buy $26 to $24
2007-07-24 Upgrade Wachovia Underperform to Mkt Perform
2007-05-21 Reiterated Prudential Underweight $28 to $27
2007-01-23 Reiterated Prudential Underweight $25 to $30
2007-01-17 Upgrade Deutsche Securities Hold to Buy $29 to $36
1970-01-01
0406-02-14
9539-03-19
9507-04-02
7423-02-26
6652-03-31
4707-03-09

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
JUNCK MARY E Chairman, Pres. & CEO 3.36%  (1804272) LEE /
SCHERMER MANAGEMENT CORP 2.17%  (1163966) LEE /
SCHERMER INVESTMENT PARTNERSHIP LP 2.17%  (1163966) LEE /
SCHERMER GREGORY P Vice Pres.-Interactive Media 1.99%  (1070211) LEE /
MOWBRAY KEVIN Vice President - Publishing 0.94%  (507588) LEE /
MAYER WILLIAM E 0.38%  (201979) LEE / PINC /
MAYO RONALD A. Vice President 0.37%  (196945) LEE /
SCHMIDT CARL G Officer, Vice Pres.,CFO&Treas. 0.30%  (163163) LEE /
DONOVAN NANCY S 0.22%  (117603) LEE /
VEON GREG Vice President - Publishing 0.21%  (113666) LEE /
SCHERMER BETTY A 0.20%  (110020) LEE /
MOLONEY HERBERT W III 0.18%  (96000) LEE /
GREEN JAMES A. Vice President - Digital 0.16%  (87326) LEE /
Farrell Paul M. Vice Pres. - Sales & Marketing 0.16%  (86932) LEE /
COLE RICHARD R 0.16%  (86000) LEE /
ELMORE LEONARD J 0.16%  (85693) FLWS / LEE /
MAGID BRENT 0.15%  (80200) LEE /
NEWMAN ANDREW E 0.14%  (76000) LEE /
VITTERT MARK 0.14%  (76000) LEE /
SCHERMER GRANT E 0.10%  (55010) LEE /
PRICHETT GORDON D /FA/ 0.10%  (51600) LEE /
SCHERMER LLOYD G 0.09%  (49316) LEE /
Gulledge Michael R Vice President - Publishing 0.08%  (45065) LEE /
KURAITIS VYTENIS P Vice President-Human Resources 0.06%  (33778) LEE /