|Bid||0.2000 x 1100|
|Ask||0.9800 x 1800|
|Day's Range||0.7495 - 0.9858|
|52 Week Range||0.7495 - 3.2300|
|Beta (5Y Monthly)||1.46|
|PE Ratio (TTM)||5.11|
|Earnings Date||May 06, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Aug 27, 2008|
|1y Target Est||4.00|
Furloughs and a reduction in pay are in store for employees of the Buffalo News, the byproduct of reduced advertising revenue and the pandemic caused by the coronavirus. Lee Enterprises (NYSE:LEE), which earlier this month acquired the Buffalo News and several other papers from longtime owner Berskshire Hathaway Inc. (NYSE: BKE.A), said early Tuesday morning furloughs and reduced pay will be instituted soon. Warren Colville, Buffalo News president and publisher, while he and his executive staff are working with Lee officials on what the statement means for the paper he does expect “some furloughs” to begin as early as Wednesday.
Advertising revenue "has been dramatically impacted now and for the near future" by the pandemic, the company's CEO said.
DAVENPORT, Iowa, March 26, 2020 -- Lee Enterprises, Incorporated (NYSE: LEE), a trusted provider of news, information and digital and print marketing solutions to 77 markets in.
Lee Enterprises, Incorporated (LEE), a trusted local news provider and leading platform for advertising in 77 markets, announced today it has completed its acquisition of BH Media Group’s (“BHMG”) publications and The Buffalo News. The acquisition nearly doubled Lee’s audience size and added 30 daily newspapers, more than 49 paid weekly publications with digital sites, and 32 other print products from BHMG, as well as The Buffalo News, to Lee’s portfolio of high-quality local publications. Additionally, after the elimination of the management agreement and adding operating expenses from the lease agreement, the transaction is expected to drive an 87% increase in revenue, a 40% increase in adjusted EBITDA, and immediately reduce Lee’s leverage to 3.5x, even before $20-25 million in anticipated annual revenue and cost synergies.
If you own shares in Lee Enterprises, Incorporated (NYSE:LEE) then it's worth thinking about how it contributes to the...
Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Wednesday said daily newspapers "are all going to die," as technological advances cause revenue to dry up. Munger, 96, spoke at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing company he chairs, though he is better known for his more than four decades as a Berkshire vice chairman. Wednesday's meeting came two weeks after Berkshire threw in the towel on its own newspaper empire, selling 80 daily and weekly papers including its hometown Omaha World-Herald in Nebraska to Lee Enterprises Inc for $140 million.
A new innovation division, Lee Labs, launched in October and is based at the 4220 building in the Cortex district.
DAVENPORT, Iowa, Feb. 06, 2020 -- Lee Enterprises, Incorporated (NYSE: LEE), a leading provider of high quality, trusted, local news, information and a major platform for.
Warren Buffett is throwing in the towel on his newspaper business in the latest sign of the pressure on print media in a rapidly changing landscape.
Moody's Investors Service ("Moody's") said that it views Lee Enterprises, Incorporated plan to acquire BH Media Group assets and The Buffalo News and its entry into a long term credit agreement to finance the asset acquisition and refinance existing debt as credit positive. The announcement has no immediate impact to the company's ratings and stable outlook. Lee Enterprises, Incorporated ("Lee"), headquartered in Davenport, IA, is one of the larger newspaper companies in the U.S. Revenue for the 12 months ended September 2019 totaled $510 million.
Todd Cooper, president of Omaha World-Herald Guild, is not happy with Berkshire Hathaway’s sale of Warren Buffett’s hometown paper to Lee Enterprises, a national chain.
Berkshire Chairman Buffett, who once touted his news properties, is staging a wholesale retreat by selling his holdings to Lee Enterprises.
Warren Buffett is selling Berkshire Hathaway's newspaper business to local news provider Lee Enterprises for $140 million in cash.
Newspaper chain Lee Enterprises, Incorporated (NYSE: LEE) and Berkshire Hathaway announced that Lee will buy the publications owned by Berkshire Hathaway's BH Media Group, and a separately held paper, The Buffalo News, for $140 million in cash. The massive purchase nearly doubles Lee's audience, adding 31 daily newspapers to its stable, including, in addition to the papers in Omaha and Buffalo, The Press of Atlantic City, The Tulsa World, The Richmond Times-Dispatch in Virginia, and several smaller papers.
Lee Enterprises' $140 million deal for Berkshire Hathaway's newspapers, announced Wednesday, is a "win-win" for the buyer and seller, "if short-term perhaps."
The transaction includes 31 daily newspapers and 49 weeklies including the daily Omaha World-Herald in Berkshire's hometown in Nebraska, Buffalo News in New York, Richmond Times-Dispatch in Virginia and Tulsa World in Oklahoma. Lee owns 50 daily newspapers including the St. Louis Post-Dispatch, and has since July 2018 managed Berkshire's papers other than the Buffalo News, which Berkshire bought in 1977.
Berkshire Hathaway — the giant Omaha, Nebraska holding company led by Warren Buffett — announced Wednesday it has sold the News for $140 million in cash.
Warren Buffett is selling his newspaper operations to Lee Enterprises Inc. and offering the provider of local news long-term financing that should help it refinance debt and bolster its balance sheet. Davenport, Iowa-based Lee is paying $140 million to acquire Berkshire Hathaway's BH Media Group (BHMG) and The Buffalo News, and will receive $576 million in long-term financing at a 9% annual interest rate. Proceeds of that financing will be used to refinance $400 million of existing debt and terminate a revolver. BHMG owns the print and digital operations of 30 daily newspapers and more than 49 paid weekly publications. The business generated revenue of $373.4 million in 2019 and has been managed by Lee since July 2018. Buffett said Lee is best positioned to manage the business through the current challenges facing the newspaper industry. Lee is expecting the deal to immediately boost earnings and drive an 87% rise in revenue. Lee shares soared 57% premarket on the news, but have fallen 54% in the last 12 months through Tuesday, while the S&P 500 has gained 24%.
Lee Enterprises, Incorporated (LEE), a trusted local news provider and leading platform for advertising in 50 markets, has entered into a definitive agreement with Berkshire Hathaway to acquire BH Media Group’s (“BHMG”) publications and The Buffalo News for $140 million in cash. Berkshire Hathaway is providing approximately $576 million in long-term financing to Lee at a 9% annual rate.
The shares of Lee Enterprises, publisher of the St. Louis Post-Dispatch, jumped after it agreed to pay $140 million for Berkshire Hathaway's BH Media.