Earnings preview: Lee Enterprises

ibtimes.com     Jul 22, 2008            

NEW YORK (AP) - Lee Enterprises Inc. reports fiscal third-quarter earnings Thursday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Lee is expected to report sharply lower profit and revenue in the quarter ended June 30. Its stable of papers in small and medium-sized markets is battling declines in ad spending as advertisers follow readers online. A marked increase in newsprint costs is also pressuring margins. The company reported a deep second-quarter loss after taking a charge related to its purchase of the St. Louis Post-Dispatch and a decline in the value of its intangible assets like brands. Lee is owner of 50 daily newspapers and more than 300 weekly publications in 23 states including daily newspapers in St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa;... [read full story]                    

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