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Operating cost reductions, digital revenue growth boost Lee Enterprises' net income in third quarter

on Tue, 08/08/2023 - 03:02   by news

A 15 percent increase in digital revenue plus a 15 percent decrease in operating expenses led to a $2.1-million profit for Lee Enterprises, Inc. in the third quarter ended June 25.

Lee, headquartered in Davenport, owns more than 70 newspapers and online news sites including the Quad City Times and Daily Dispatch/Argus.

Lee Enterprises execs get pay boosts despite steep earnings decline, forced furloughs in 2022

on Sat, 04/01/2023 - 02:30   by news

Amid a steep fall-off in earnings, forced unpaid furloughs across its 77 news properties, significant staff cuts and a continued stock price decline, top Lee Enterprise, Inc. executives received increased compensation packages from 7 to 62 percent during 2022.

The executive compensation detailed in the company's proxy to shareholders, shows President and CEO Kenneth Mowbray's total compensation went up 7.2 percent to $2.33 million. Vice President and Chief Financial Officer Timothy Millage had his compensation upped 33 percent to $1.05 million. Operating Vice President and Vice President - Audience Strategy Nathan E. Bekke's compensation package increase 62 percent to $1.12 million.

And, past CEO Mary E. Junck, who serves as executive chair of the board of directors, received a $30,000 hike in her compensation to $430,000 ($250,000 in fees paid in cash and $180,000 in stock awards).

For the company's fiscal year ended Sept. 25, 2022, Lee lost 35 cents per share compared with a gain of $3.98 per share for the previous fiscal year.

Class action lawsuit accuses Davenport-based Lee Enterprises, Inc. of online privacy violations

on Sun, 12/25/2022 - 01:25   by Clark Kauffman

Iowa Capital Dispatch

The Iowa-based newspaper chain Lee Enterprises is facing a potential class-action lawsuit alleging it has shared readers’ personal information with Facebook in violation of federal law.

Lee publishes newspapers and other media content in 77 markets across 26 states. The company’s 10 Iowa papers include the Quad-City Times in Davenport, the Sioux City Journal, the Mason City Globe-Gazette the Waterloo-Cedar Falls Courier and the Muscatine Journal.

The lawsuit, filed this week in U.S. District Court, alleges that Lee’s news-media websites offer users the option of subscribing to newsletters or to newspapers that provide consumers with access to articles and video content in exchange for their personal information, including names and mailing addresses.

Lee Enterprises digital revenue reaches 51 percent, but company loses $269,000 in third quarter

on Wed, 08/10/2022 - 21:25   by news

For the first time, online revenue during the third quarter exceeded print income at Lee Enterprises, Inc. – owner of the Quad City Times and Daily Dispatch/Argus newspapers and online news sites.

Despite the continued growth of online revenue, the company lost 5 cents per share ($269,000) for the three-month period ended June 26. A year earlier, Lee reported third quarter earnings of 56 cents per share, or $3.23 million.

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