Sunday, July 13, 2014

Lee cuts debt 2 years ahead of schedule

October 01. 2013 6:40PM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Newspaper publisher Lee Enterprises Inc. says it has cut its debt to $847.5 million, two years ahead of a schedule outlined in its reorganization plan.

The publisher of the St. Louis Post Dispatch and other newspapers says the company cut its debt by $98.5 million in the fiscal year through September 29.

CEO Mary Junck announced the results in prepared remarks Tuesday ahead of an investors conference in Scottsdale, Ariz.

The progress comes nearly two years after Lee emerged from pre-packaged bankruptcy in January 2012.

Lee said cost cutting helped the company cope with a mild decline in revenue and contributed to steady cash flow. Digital advertising and subscriptions are growing, partially offsetting a decline in print ad sales.

Lee shares rose 8 cents, or 3 percent, to $2.72 in after-hours trading.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds