DAVENPORT, Iowa--(BUSINESS WIRE)--Feb. 24, 2016--
Lee Enterprises, Incorporated (NYSE: LEE), a major provider of local
news, information and advertising in 50 markets, today announced that
the company has repurchased an additional $10 million of its 9.5% Notes
at an attractive discount with the remaining proceeds from a previously
announced insurance settlement.
“Repurchasing the notes allows us to continue our aggressive
deleveraging and reduce one of our higher costs of capital,” Chief
Financial Officer and Treasurer Ron Mayo said. “To the extent our 9.5%
Notes are available at an attractive discount, we will consider
additional buy backs.”
Mayo said that he expects the company to continue to produce strong cash
flow that can be used to further reduce debt.
ABOUT LEE
Lee Enterprises is a premier provider of local news, information and
advertising in its markets, with 46 daily newspapers and a joint
interest in four others, rapidly growing digital products and nearly 300
specialty publications in 22 states. Lee markets include St. Louis, MO;
Madison, WI; Billings, MT; Davenport, IA, and Tucson, AZ. Lee Common
Stock is traded on the New York Stock Exchange under the symbol LEE. For
more information about Lee, please visit lee.net.
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Source: Lee Enterprises, Incorporated
Lee Enterprises, Incorporated
Charles Arms, 563-383-2100
Director
of Communications
IR@lee.net
