Lee Enterprises (LEE)

[Timetravelerdos]

Lee Enterprises reports first quarter; digital-only subscribers surpass 100,000 milestone!!

Total digital revenue was $37.2 million, representing 30.4% of operating revenue. Digital advertising revenue increased 5.1%, after adjusting for non-recurring political revenue in the prior year quarter, and represented 39.5% of total advertising revenue.

Revenue at TownNews increased 17.8% from the prior year quarter.

Due to timing of strategic pricing actions and print unit declines, subscription revenue was off trend, reflecting the challenging conditions in print. However, digital-only subscribers, which totaled 57,000 in the prior year quarter, increased 84.8% and now total 105,000.

https://www.globenewswire.com/news-release/2020/02/06/1980957/0/en/Lee-Enterprises-reports-first-quarter-digital-only-subscribers-surpass-100-000-milestone.html

Plus remember LEE just increased their business account!!
With the deal, Lee will run 81 daily papers, up from 50. The company currently owns news outlets such as the St. Louis Post-Dispatch and the Arizona Daily Star in Tucson.

Lee said the deal should boost profits immediately. It also said it has found between about $20 million and $25 million in future savings