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Basis of Presentation and Significant Accounting Policies [Text Block]

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

References to "we", "our", "us" and the like throughout the Consolidated Financial Statements refer to Lee Enterprises, Incorporated and subsidiaries (the "Company"). References to "

2019

", "

2018

", "

2017

" and the like refer to the fiscal years ended the last Sunday in

September.

Fiscal years

2019

and

2017

include

weeks and

2018

includes

weeks of operations.

Lee Enterprises, Incorporated is a leading provider of high quality, trusted, local news and information, and a major platform for advertising in the markets we serve. We operate

principally mid-sized local media operations (including TNI Partners ("TNI") and Madison Newspapers, Inc. ("MNI")) across

states.

SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Consolidated Financial Statements include our accounts and those of our subsidiaries, all of which are wholly-owned, except for our

50%

interest in TNI,

50%

interest in MNI and

82.5%

interest in TownNews, TNI and MNI are accounted for under the equity method. Results of TownNews are consolidated.

February 2018,

the Financial Accounting Standards Board (“FASB”) issued new guidance to allow a reclassification from accumulated other comprehensive income (“AOCI”) to retained earnings for stranded tax effects resulting from what is commonly referred to as the Tax Cuts and Jobs Act (the

"2017

Tax Act"). In the

first

quarter of fiscal year

2018,

we re-measured our deferred taxes related to unrealized gains on our investment balances using the reduced tax rate. As required by GAAP, we recognized the net tax benefit in the provision for income taxes in our consolidated income statements, and we reclassified a

$3,067,000

net tax benefit from AOCI to retained earnings in our consolidated balance sheets. Adoption of the standard had

impact to our consolidated income statements or cash flows statements.

March 2016,

the FASB issued a new standard that makes improvements to the accounting for employee share-based payments. The new standard simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes and statutory tax withholding requirements, as well as classification in the statement of cash flows. We adopted this standard in

2018

and the impact from the adoption of this standard did

not

have a material impact on the Consolidated Financial Statements.

Fiscal Year

All of our enterprises use period accounting with the fiscal year ending on the last Sunday in

September.

Subsequent Events

We have evaluated subsequent events through

December 13, 2019.

events have occurred subsequent to

September 29, 2019

that require disclosure or recognition in these financial statements.

Accounting Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. We evaluate our estimates on an on-going basis. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities t

hat are

not

readily apparent from other sources. Actual results

may

differ from these estimates under different assumptions or conditions.

Principles of Consolidation

All significant intercompany transactions and balances have been eliminated.

Investments in TNI and MNI are accounted for using the equity method and are reported at cost, plus our share of undistributed earnings since acquisition less, for TNI, amortization of, and reductions in the value of, intangible assets.

Cash and Cash Equivalents

We consider all highly liquid debt instruments purchased with an original maturity of

three

months or less at date of acquisition to be cash equivalents.

Accounts Receivable

We evaluate our allowance for doubtful accounts receivable based on historical credit experience, payment trends and other economic factors. Delinquency is determined based on timing of payments in relation to billing dates. Accounts considered to be uncollectible are written off.

Inventories

Newsprint inventories and other inventories are priced at the lower of cost or net realizable value. LIFO newsprint inventories at

September 29, 2019

and

September 30, 2018

are less than replacement cost by

$1,661,000

and

,333,00

, respectively.

The components of inventory by cost method are as follows:

(Thousands of Dollars)	September 29, 2019		September 30, 2018

Newsprint - FIFO method		1,498		2,079
Newsprint - LIFO method		1,296		2,071
Other inventory - FIFO method		975		1,534
		3,769		5,684

Other Investments

Other investments primarily consist of marketable securities held in trust under a deferred compensation arrangement and investments for which

established market exists. Marketable securities are classified as trading securities and carried at fair value with gains and losses reported in earnings. Non-marketable securities are carried at cost.

Property and Equipment

Property and equipment are carried at cost. Equipment, except for printing presses and preprint insertion equipment, is depreciated primarily by declining-balance methods. The straight-line method is used for all other assets. The estimated useful lives are as follows:

	Years

Buildings and improvements		4 - 54
Printing presses and insertion equipment		5 - 28
Other		3 - 17

We recognize the fair value of a liability for a legal obligation to perform an asset retirement activity when such activity is a condition of a future event and the fair value of the liability can be estimated. The cost of asset retirements and related accruals was

not

material in

2019,

2018

2017.

Goodwill and Other Intangible Assets

Intangible assets include covenants

not

to compete, consulting agreements, customer lists, newspaper subscriber lists and mastheads. Intangible assets subject to amortization are being amortized using the straight-line method as follows:

	Years

Customer lists		15 - 23
Newspaper subscriber lists		10 - 33

We review goodwill for impairment on an annual basis by performing a qualitative and quantitative assessment. Companies with reporting units with

zero

or negative carrying value are required to disclose the amount of goodwill for those reporting units.

The Company's goodwill is all attributable to single reporting unit entity with negative carrying value. In

2019

and

2018

, the Company had

$250,309,000

and

$246,176,000

of goodwill in the Consolidated Balance Sheets, respectively. The annual assessment is made on the

first

day of our

fourth

fiscal quarter, or more frequently if impairment triggers are noted.

We review non-amortizing intangibles for impairment on an annual basis. Should we determine that a non-amortized intangible asset impairment is more likely than

not,

we make a determination of the individual asset's fair value. Fair value is determined using the relief from royalty method, which estimates fair value based upon appropriate royalties of future revenue discounted to their present value. The impairment amount, if any, is calculated based on the excess of the carrying amount over the fair value of such asset.

We analyze goodwill and other non-amortized intangible assets for impairment more frequently if impairment indicators are present. Such indicators of impairment include, but are

not

limited to, changes in business climate and operating or cash flow losses related to such assets.

We review our amortizable intangible assets for impairment when indicators of impairment are present. We assess recoverability of these assets by comparing the estimated undiscounted cash flows associated with the asset group with their carrying amount. The impairment amount, if any, is calculated based on the excess of the carrying amount over the fair value of those asset groups.

The required valuation methodology and underlying financial information that are used to determine fair value require significant judgments to be made by us and represent a Level

fair value measurement. These judgments include, but are

not

limited to, long term projections of future financial performance and the selection of appropriate discount rates used to determine the present value of future cash flows. Changes in such estimates or the application of alternative assumptions could produce significantly different results.

We also periodically evaluate the useful lives of amortizable intangible assets. Any resulting changes in the useful lives of such intangible assets will

not

impact our cash flows. However, a decrease in the useful lives of such intangible assets would increase future amortization expense and decrease future reported operating results and earnings per common share.

Future decreases in our market value, or significant differences in revenue, expenses or cash flows from estimates used to determine fair value, could result in impairment charges in the future. See Note

Non-controlling Interest

Non-controlling interest in earnings of TownNews is recognized in the Consolidated Financial Statements.

Revenue Recognition

October 1, 2018,

we adopted the New Revenue Standard, using the modified retrospective method applied to those contracts which were

not

completed as of that date. Results for reporting periods beginning after

October 1, 2018

are presented under the new guidance while prior period amounts are

not

adjusted and continue to be reported in accordance with legacy accounting under the old guidance. We did

not

record any adjustments to beginning retained earnings at

October 1, 2018

as a result of adopting the new guidance.

Recognition principles:

Revenue is recognized when a performance obligation is satisfied by the transfer of control of the contracted goods or services to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services.

Advertising and marketing services revenue:

Advertising and marketing services revenue includes amounts charged to customers for retail, national, or classified advertising space purchased in our newspapers, advertisements placed on our digital platforms, and other print advertising products such as preprint inserts and direct mail. Advertising and marketing services revenue also include amounts charged to customers for digital marketing services which include: audience extension, Search Engine Optimization ("SEO"), Search Engine Marketing ("SEM"), web and mobile production, social media services and reputation monitoring and management. The following define the timing of revenue recognition for each general revenue category:

•

Print advertising revenue is recognized at the point in time the associated publication has been delivered.

•

Digital advertising revenue is recognized at the point in time that impressions are delivered.

•

Digital marketing services revenue is recognized over the period of time which the service is performed.

Advertising and marketing services contract transaction prices consist of fixed consideration. We recognize revenue when control of the related performance obligation transfers to the customer.

Payments for advertising revenue is due upon completion of our performance obligations at previously agreed upon rates. In instances where the timing of revenue recognition differs from the timing of invoicing, such timing differences are

not

large. As a result, we have determined that our contracts do

not

include a significant financing component.

Subscription revenue:

Subscription revenue includes revenue for content delivered to consumers via print and digital products purchased by readers or distributors. Single copy revenue is also included in subscription revenue. Subscription revenue from single-copy and home delivery subscriptions is recognized at the point in time the publications are delivered. Digital subscription revenue is recognized over time as performance obligations are met via on-demand availability of online content made available to customers throughout the contract term. Payments for subscription revenue is typically collected in advance, are for contract periods of

one

year or less and result in an unearned revenue liability that is reduced when revenue is recognized.

Other revenue:

Other revenue primarily consists of digital services, Management Agreement revenue, commercial printing and delivery of

third

party products. Management Agreement revenue consists of fixed and variable fees collected from our Management Agreement. Fixed fee revenue from the Management Agreement is recognized over time and paid quarterly and variable fees are paid annually. Variable fees are recognized when the fees are deemed earned and it is probable that a significant reversal in the amount of cumulative revenue recognized will

not

occur when the uncertainty associated with the variable consideration is subsequently resolved. Commercial printing and delivery revenue is recognized when the product is delivered to the customer.

Digital services revenues, which are primarily delivered through TownNews, are primarily comprised of contractual agreements to provide webhosting and content management services. As such, digital services revenue is recognized over the contract period. Prices for digital services are agreed upon in advance of the contract beginning and are typically billed in arrears on a monthly basis, with the exception of implementation fees which are recognized as deferred revenue and amortized over the contract period.

Arrangements with multiple performance obligations:

We have various advertising and subscription agreements which include both print and digital performance obligations. Revenue from sales agreements that contain multiple performance obligations are allocated to each obligation based on the relative standalone selling price. We determine standalone selling prices based on observable prices charged to customers. See footnote

Advertising Costs

A substantial amount of our advertising and promotion consists of advertising placed in our own publications and digital platforms, using available space. The incremental cost of such advertising is

not

significant and is

not

measured separately by us. External advertising costs are

not

significant and are expensed as incurred.

Restructuring Costs and Other

We incur severance related costs on an ongoing basis in response to overall industry trends. We accrue for severance related items generally as part of planned business transformation efforts when the impacted employees can be identified and the amounts are estimable. We did

not

have a significant severance liability as of

September 29, 2019

September 30, 2019.

Other costs included in Restructuring Costs and Other include estimated impacts of withdrawals from our multiemployer plans. Multiemployer plans are discussed in Note

Pension, Postretirement and Postemployment Benefit Plans

We evaluate our liabilities for pension, postretirement and postemployment benefit plans based upon computations made by consulting actuaries, incorporating estimates and actuarial assumptions of future plan service costs, future interest costs on projected benefit obligations, rates of compensation increases, when applicable, employee turnover rates, anticipated mortality rates, expected investment returns on plan assets, asset allocation assumptions of plan assets and other factors.

We use a fiscal year end measurement date for all our pension and postretirement obligations in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic

715,

Retirement Plans

. We use the alternative spot rate approach which utilizes a full yield curve to estimate the interest cost component of benefit cost by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.

Income Taxes

Deferred income tax assets are recognized for deductible temporary differences and loss carryforwards and deferred income tax liabilities are recognized for taxable temporary differences which are the difference between the reported amounts of assets and liabilities and their tax basis. Deferred income tax assets are reduced by a valuation allowance when, in our opinion, it is more likely than

not

that some portion or all of the deferred income tax assets will

not

be realized. Deferred income tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

We recognize the effect of income tax positions only if those positions are more likely than

not

of being sustained. Recognized income tax positions are measured at the largest amount that is greater than

50%

likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits as a component of income tax expense.

Fair Value of Financial Instruments

We utilize FASB ASC Topic

820,

Fair Value Measurements and Disclosures

, to measure and report fair value. FASB ASC Topic

820

defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FASB ASC Topic

820

establishes a

three

-level hierarchy of fair value measurements based on whether the inputs to those measurements are observable or unobservable, which consists of the following levels:

Level

- Quoted prices for identical instruments in active markets.

Level

- Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are

not

active; and model-derived valuations in which all significant inputs are observable in active markets.

Level

- Valuations derived from valuation techniques in which

one

or more significant inputs are unobservable.

Investments measured at net asset value, as a practical expedient for fair value, are excluded from the fair value hierarchy.

Valuation methodologies used for pension and postretirement assets measured at fair value are as follows:

Cash and cash equivalents c

onsist of short term deposits valued based on quoted prices in active markets. Such investments are classified as Level

Treasury Inflation-Protected Securities

("TIPS")

consist of low yield mutual funds and are valued by quoted market prices. Such investments are classified as Level

Equity securities

are valued based on the closing market price in an active market and are classified as Level

Certain investments in commingled funds are valued at the end of the period based upon the value of the underlying investments as determined by quoted market prices. Such investments are classified as Level

Debt securities

consist of government securities that are valued based upon quoted market prices in an active market. Such investments are classified as Level

Corporate bonds that are valued based on quoted market prices in an inactive market are classified as Level

Certain investments in commingled funds are valued at the net asset value of units held at the end of the period based upon the value of the underlying investments as determined by quoted market prices. Such investments are excluded from the fair value hierarchy.

Hedge funds

consist of a long/short equity funds and a diversified fund of funds. These funds are valued at the net asset value of units held at the end of the period based upon the value of the underlying investments, which is determined using multiple approaches including by quoted market prices and by private market quotations. Such investments are excluded from the fair value hierarchy.

Stock Compensation and Warrants

We have several active stock-based compensation plans. We account for grants under those plans under the fair value expense recognition provisions of FASB ASC Topic

718,

Compensation-Stock Compensation

. We determine the fair value of stock options using the Black-Scholes option pricing formula. Key inputs to this formula include expected term, expected volatility and the risk-free interest rate.

The expected term represents the period that our stock-based awards are expected to be outstanding, and is determined based on historical experience of similar awards, giving consideration to contractual terms of the awards, vesting schedules and expectations of future employee behavior. The volatility factor is calculated using historical market data for our Common Stock. The time frame used is equal to the expected term. We base the risk-free interest rate on the yield to maturity at the time of the stock option grant on

zero

-coupon U.S. government bonds having a remaining term equal to the option's expected term. When estimating forfeitures, we consider voluntary termination behavior as well as actual option forfeitures.

We amortize as compensation expense the value of stock options and restricted Common Stock using the straight-line method over the vesting or restriction period, which is generally

one

four

years.

We also have

6,000,000

warrants outstanding to purchase shares of our Common Stock. Warrants are recorded at fair value determined using the Black-Scholes option pricing formula. See Notes

and

12.

Uninsured Risks

We are self-insured for health care, workers compensation and certain long-term disability costs of our employees, subject to stop loss insurance, which limits our losses in the event of large claims. We accrue our estimated health care costs in the period in which such costs are incurred, including an estimate of incurred but

not

reported claims. Other risks are insured and carry deductible losses of varying amounts. Letters of credit and performance bonds totaling

$3,901,000

September 29, 2019

are outstanding in support of our insurance program.

Our accrued reserves for health care and workers compensation claims are based upon estimates of the remaining liability for retained losses made by consulting actuaries. The amount of workers compensation reserve has been determined based upon historical patterns of incurred and paid loss development factors from the insurance industry.

Recently Issued Accounting Standards - Standards Adopted in

2019

March 2017,

the Financial Accounting Standards Board ("FASB") issued a new standard to improve the presentation of pension and postretirement benefit expense. The new standard requires that the service cost component of pension and postretirement benefits expense is recognized as compensation expense, while the remaining components of the expense are presented outside of operating income. The prior presentation included all components of the expense as Compensation in our Consolidated Statements of Income and Comprehensive Income. As a result of the adoption of this standard, we recorded other non-operating income of

$2,847,000,

$2,830,000

and

$3,417,000

2019,

2018

and

2017,

respectively. These amounts were previously recognized as compensation.

August 2016,

the FASB issued a new standard to conform the presentation in the statement of cash flows for certain transactions, including cash distributions from equity method investments, among others. The new standard was adopted in

2019

and did

not

result in a change to our statement of cash flows.

May 2014,

the FASB issued ASU

No.

2014

“Revenue from Contracts with Customers” and in

2015,

2016,

and

2017

the FASB issued several clarifying updates to this new standard (ASU

No.

2015

14,

2016

08,

2016

10,

2016

11,

2016

12,

2016

and

2017

), which collectively comprises ASC Topic

606

“Revenue from Contracts with Customers”. Topic

606

supersedes the revenue recognition requirements in Topic

605

“Revenue Recognition” and is effective fiscal years beginning after

December 15, 2017.

Topic

606

provides a

five

-step model in determining when and how revenue is recognized and requires revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The new standard was adopted in

2019

using the modified retrospective method and did

not

result in a material change to our Consolidated Financial Statements. See to Note

for disclosures as a result of this adoption.

Recently Issued Accounting Standards - Standards

Not

Yet Adopted

February 2016,

the FASB issued a new standard for the accounting treatment of leases. The new standard is based on the principle that entities should recognize assets and liabilities arising from leases. The new standard's primary change is the requirement for entities to recognize a lease liability for payments and a right of use asset representing the right to use the leased asset during the term on most operating lease arrangements. Lessees are permitted to make an accounting policy election to

not

recognize the asset and liability for leases with a term of

twelve

months or less. In addition, the new standard expands the disclosure requirements of lease arrangements. Lessees have the option to use a modified retrospective transition approach, which includes a number of practical expedients. As a result of utilizing the modified retrospective transition approach, we will

not

restate prior year financial statements to conform to the new guidance. We expect to elect the package of practical expedients, which permits the Company to

not

reassess under the new standard the prior conclusions about lease identification, lease classification, or initial direct costs. In addition, we will

not

reassess whether existing land easements which were previously

not

accounted for as leases are or contain leases under the new guidance.

To date, we reviewed all existing leases and contracts, completed data entry for in-scope leases into our selected software solution which is compatible with our current financial reporting and control environment and quantified a range of expected financial impacts. We will adopt the new standard effective

September 30, 2019,

the

first

day of fiscal year

2020.

We expect to recognize upon adoption, lease liabilities and right of use assets ranging from

$9,600,000

$12,600,000.

Right-of-use assets have been adjusted for lease incentives and initial direct costs. We are still evaluating for potential embedded leases relating to our outsourced printing contracts, which could result in material additional lease obligations and right-of-use assets. We do

not

expect the adoption of the new standard will have a material impact on our Consolidated Statements of Income or Consolidated Statement of Cash Flows.

June 2016,

the FASB issued a new standard to replace the incurred loss impairment methodology under current GAAP with a methodology that reflects expected credit losses and requires consideration of a wider array of reasonable and supportable information to inform and develop credit loss estimates. We will be required to use a forward-looking expected credit loss model for both accounts receivables and other financial instruments. The new standard will be adopted beginning

September 29, 2020

using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align our credit loss methodology with the new standard. We are currently evaluating the impact of this standard on our consolidated financial statements.

Note 2 - Revenue

12 Months Ended

Sep. 29, 2019

Revenue from Contract with Customer [Text Block]

REVENUE

October 1, 2018,

we adopted the New Revenue Standard, using the modified retrospective method applied to those contracts which were

not

completed as of that date. Results for reporting periods beginning after

October 1, 2018

are presented under the new guidance while prior period amounts are

not

adjusted and continue to be reported in accordance with legacy accounting under the old guidance. We did

not

record any adjustments to beginning retained earnings at

October 1, 2018

as a result of adopting the new guidance.

The following table presents our revenue disaggregated by source:

(Thousands of Dollars)	September 29, 2019		September 30, 2018		September 24, 2017

Advertising and marketing services revenue		265,933		303,446		331,360
Subscription Revenue		186,691		195,108		191,922
TownNews and other digital services revenue		19,637		16,328		14,008
Other revenue		37,593		29,073		29,653
Total operating revenue		509,854		543,955		566,943

Recognition principles:

Arrangements with multiple performance obligations:

Contract Assets and Liabilities:

The Company’s primary source of unearned revenue is from subscriptions paid in advance of the service provided. The Company expects to recognize the revenue related to unsatisfied performance obligations over the next

twelve

months in accordance with the terms of the subscriptions and other contracts with customers. The unearned revenue balances described herein are the Company's only contract liability. Unearned revenue was $

21,720,000

as of

September 29, 2019

and $

23,895,000

as of

September 30, 2018

. Revenue recognized in the

weeks ended

September 29, 2019

that was included in the contract liability as of

September 30, 2018

was

$23,130,000.

Contract asset balances relate to our Management Agreement revenue and were

$1,107,000

as of

September 29, 2019

and

as of

September 30, 2018

and consisted solely of the variable portion of the contract.

hese contract asset balances are included in accounts receivable and contract assets, net. There are

other contract assets recorded. Accounts receivable, excluding allowance for doubtful accounts and contract assets, was

$47,863,000

and

$48,517,000

as of

September 29, 2019

and

September 30, 2018

respectively. Allowance for doubtful accounts was $

6,434,000

and $

4,806,000

as of

September 29, 2019

and

September 30, 2018

, respectively.

Practical expedients:

Sales commissions are expensed as incurred as the associated contractual periods are

one

year or less. These costs are recorded within compensation. The vast majority of our contracts have original expected lengths of

one

year or less and revenue is earned at a rate and amount that corresponds directly with the value to the customer.

Note 3 - Investments in Associated Companies

12 Months Ended

Sep. 29, 2019

Equity Method Investments and Joint Ventures Disclosure [Text Block]

INVESTMENTS IN ASSOCIATED COMPANIES

TNI Partners

In Tucson, Arizona, TNI, acting as agent for our subsidiary, Star Publishing Company (“Star Publishing”) and Citizen Publishing Company (“Citizen”), a subsidiary of Gannett Co. Inc., is responsible for printing, delivery, advertising and subscription activities of the

Arizona Daily Star,

as well as the related digital platforms and specialty publications. TNI collects all receipts and income and pays substantially all operating expenses incident to the partnership's operations and publication of the newspaper and other media. Income or loss of TNI is allocated equally to Star Publishing and Citizen.

Summarized financial information of TNI is as follows:

	September 29			September 30
(Thousands of Dollars)	2019			2018

ASSETS
Current assets		3,484			3,615
Investments and other assets		1,350			—
Total assets		4,834			3,615

LIABILITIES AND MEMBERS' EQUITY
Current liabilities		5,924			5,213
Members' equity		(1,090	)		(1,598	)
Total liabilities and members' equity		4,834			3,615

Summarized results of TNI are as follows:

(Thousands of Dollars)	2019		2018		2017

Operating revenue		43,532		47,165		48,297
Operating expenses		34,224		37,090		38,150
Net income		9,308		10,075		10,147

Company's 50% share		4,654		5,038		5,073
Less amortization of intangible assets		418		418		418
Equity in earnings of TNI		4,236		4,620		4,655

TNI makes weekly distributions of its earnings. We received $

4,245,000

, $

5,814,000

and $

4,644,000

in distributions in

2019,

2018

and

2017

, respectively.

September 29, 2019

, the carrying value of the Company's

50%

investment in TNI is $

14,741,000

. The difference between our carrying value and our

50%

share of the members' equity of TNI relates principally to goodwill of $

12,366,000

and other identified intangible assets of $

3,299,000

, certain of which are being amortized over their estimated useful lives through

2020.

See Note

Madison Newspapers, Inc.

We have a

50%

ownership interest in MNI, which publishes daily and Sunday newspapers, and other publications in Madison, Wisconsin, and other Wisconsin locations, and related digital sites. Net income or loss of MNI (after income taxes) is allocated equally to us and The Capital Times Company (“TCT”). MNI conducts its business under the trade name Capital Newspapers.

Summarized financial information of MNI is as follows:

	September 29		September 30
(Thousands of Dollars)	2019		2018

ASSETS
Current assets		8,796		10,173
Investments and other assets		31,134		33,295
Total assets		39,930		43,468

LIABILITIES AND MEMBERS' EQUITY
Current liabilities		5,912		7,274
Other liabilities		6,064		7,261
Stockholders' equity		27,954		28,933
Total liabilities and stockholders' equity		39,930		43,468

Summarized results of MNI are as follows:

(Thousands of Dollars)	2019		2018		2017

Operating revenue		56,790		59,670		61,396
Operating expenses, excluding restructuring costs, depreciation and amortization		48,121		49,598		51,392
Restructuring costs		355		383		296
Depreciation and amortization		1,018		1,149		1,295
Operating income		7,296		8,540		8,413
Net income		5,770		9,257		5,908
Equity in earnings of MNI		2,885		4,629		2,954

MNI makes quarterly distributions of its earnings. We received $

3,350,000

, $

3,400,000

and $

3,500,000

in distributions in

2019,

2018

and

2017

, respectively.

We provide editorial services to MNI. Editorial service fees are included in other revenue in the Consolidated Statements of Income and Comprehensive Income and totaled $

6,636,000

, $

6,718,000

and $

7,021,000

, in

2019,

2018

and

2017

, respectively.

September 29, 2019

, the carrying value of the Company's

50%

investment in MNI is $

14,001,000

Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Sep. 29, 2019

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill related to continuing operations are as follows:

(Thousands of Dollars)	2019			2018

Goodwill, gross amount		1,534,905			1,535,155
Accumulated impairment losses		(1,288,729	)		(1,288,729	)
Goodwill, beginning of year		246,176			246,426
Goodwill acquired in business combinations		4,133			—
Goodwill allocated to disposed businesses		—			(250	)
Goodwill, end of year		250,309			246,176

Identified intangible assets related to continuing operations consist of the following:

	September 29		September 30
(Thousands of Dollars)	2019		2018

Non-amortized intangible assets:
Mastheads		21,883		21,883
Amortizable intangible assets:
Customer and newspaper subscriber lists		697,145		692,886
Less accumulated amortization		611,786		594,950
		85,359		97,936
Non-compete and consulting agreements		28,675		28,524
Less accumulated amortization		28,524		28,524
		151		—
		107,393		119,819

January 2017,

the FASB issued a new standard simplifying the assessment of a goodwill impairment. The new standard maintains a qualitative and quantitative assessment but eliminates the Step

of the quantitative assessment. The new standard also changes the way a goodwill impairment is calculated. For companies that have reporting units with

zero

or negative carrying value, the new standard requires disclosure of the amount of goodwill for those reporting units.

All of the Company’s goodwill is attributed to the single reporting unit with negative carrying value. The Company performed its annual assessment on the

first

day of our

fourth

fiscal quarter, and determined the fair value of our single reporting unit was significantly in excess of carrying value and as such, there was

impairment in

2019

2018

2017

, due to continuing revenue declines, we recorded non-cash charges to reduce the carrying value of non-amortized intangible assets. We also recorded pretax charges to reduce the carrying value of other assets in

2019,

2018

and

2017

. Such charges are recorded in assets loss (gain) on sales, impairments and other in the Consolidated Statements of Income and Comprehensive Income (Loss). We recorded deferred income tax benefits related to these charges.

A summary of the pretax impairment charges is included in the table below:

(Thousands of Dollars)	2019		2018		2017

Continuing operations:
Non-amortized intangible assets		—		—		2,035
Property, equipment and other assets		—		267		482
		—		267		2,517

January 2019,

we purchased the businesses of Kenosha News and Lake Geneva Regional News. In

February 2019,

TownNews purchased the content management system ("CMS") business from GTxcel. The transactions were funded with cash on the balance sheet. As part of initial estimates

$3,433,000

was recorded in goodwill and

$3,650,000

was recorded in other intangible assets, net. The

$3,650,000

of other intangible assets, net relate to acquired customer lists, which will be amortized over a

year period.

These initial estimates will be reviewed in subsequent quarters as more information becomes available and finalized in the

weeks ended

March 29, 2020.

Annual amortization of intangible assets for the years ending

September 2020

September 2024

is estimated to be

$16,016,000,

$14,853,000,

$12,673,000,

$12,052,000,

and

$10,325,000,

respectively.

Note 5 - Debt

12 Months Ended

Sep. 29, 2019

Debt Disclosure [Text Block]

DEBT

March

31,

2014,

we completed a comprehensive refinancing of our debt (the

"2014

Refinancing"), which included the following:

•

$400,000,000

aggregate principal amount of

9.5%

Senior Secured Notes (the “Notes”), pursuant to an Indenture dated as of

March

31,

2014

(the “Indenture”).

•

$250,000,000

first

lien term loan (the

Lien Term Loan") and

$40,000,000

revolving facility (the "Revolving Facility") under a First Lien Credit Agreement dated as of

March

31,

2014

(together the

“1

Lien Credit Facility”).

•

$150,000,000

second

lien term loan under a Second Lien Loan Agreement dated as of

March

31,

2014

(the

“2

Lien Term Loan”).

November 2018,

we repaid, in full, the remaining balance of the

Lien Term Loan.

November

2019,

we amended our

Lien Credit Facility to amend and extend our

$23,120,000

Revolving Facility (the "Amendment") through

December 28, 2020.

Our Revolving Facility was undrawn at the time of the amendment.

Debt is summarized as follows:

							Interest Rates (%)
	September 29			September 30			September 29
(Thousands of Dollars)	2019			2018			2019

Revolving Facility		—			—			6.13
1st Lien Term Loan		—			6,303			8.54
Notes		363,420			385,000			9.50
2nd Lien Term Loan		80,207			93,556			12.00
		443,627			484,859
Unamortized debt issue costs		(11,282	)		(17,055	)
Less current maturities of long-term debt		2,954			7,027
Total long-term debt		429,391			460,777

Our weighted average cost of debt, excluding amortization of debt financing costs at

September 29, 2019

, is

10.0%.

September 29, 2019

, aggregate minimum required maturities of debt excluding amounts required to be paid from future excess cash flow computations total $

2,954,000

2020,

zero

2021,

363,420,000

2022

and $

77,253,000

2023.

Notes

The Notes are senior secured obligations of the Company and mature on

March

15,

2022.

September 29, 2019

, the principal balance of the Notes totaled $

363,420,000

Interest

The Notes require payment of interest semiannually on

March

and

September

of each year, at a fixed annual rate of

9.5%.

Redemption

may

redeem some, or all, of the principal amount of the Notes at any time.

Period Beginning	Percentage of Principal Amount

March 15, 2019		102.38
March 15, 2020		100.00

If we sell certain of our assets or experience specific kinds of changes of control, we must, subject to certain exceptions, offer to purchase the Notes at

101%

of the principal amount. Any redemption of the Notes must also satisfy any accrued and unpaid interest thereon.

may

repurchase Notes in the open market at any time. In the

weeks ended

September 29, 2019

we purchased $

21,580,000

principal amount of Notes in privately negotiated transactions. The transactions resulted in a loss on extinguishment of debt totaling $

333,000

in the

weeks ended

September 29, 2019

which is recorded in Other, net in the Consolidated Statements of Income and Comprehensive Income.

Covenants and Other Matters

The Indenture and the

Lien Credit Facility contain restrictive covenants as discussed more fully below. However, certain of these covenants will cease to apply if the Notes are rated investment grade by either Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Group and there is

default or event of default under the Indenture.

Lien Credit Facility

The

Lien Term Loan was paid in full in

November 2018

and has

outstanding balance as of

September 29, 2019

The

Lien Credit Facility documents the primary terms of the

Lien Term Loan and the Revolving Facility. The $

23,120,000

Revolving Facility matures on

December 28, 2020

and

may

be used for working capital and general corporate purposes (including letters of credit). At

September 29, 2019

, after consideration of letters of credit, we have approximately $

17,644,000

available for future use under the Revolving Facility.

Interest

Interest on the Revolving Facility, which is undrawn at

September 29, 2019

, accrues, at our option, at either (A) LIBOR plus

5.5%,

or (B)

4.5%

plus the higher of (i) the prime rate at the time, (ii) the federal funds rate plus

0.5%,

or (iii)

one

month LIBOR plus

1.0%.

Covenants and Other Matters

The

Lien Credit Facility requires that we comply with certain affirmative and negative covenants customary for financing of this nature, including a maximum total leverage ratio, which is only applicable to the Revolving Facility.

The

Lien Credit Facility restricts us from paying dividends on our Common Stock. This restriction

longer applies if Lee Legacy Leverage is below

3.25x

before and after such payments. Lee Legacy Leverage as defined is

4.19x

September 29, 2019.

Further, the

Lien Credit Facility restricts or limits, among other things, subject to certain exceptions, the ability of the Company and its subsidiaries to: (i) incur indebtedness, (ii) enter into mergers, acquisitions and asset sales, (iii) incur or create liens and (iv) enter into transactions with certain affiliates. The

Lien Credit Facility contains various representations and warranties and

may

be terminated upon occurrence of certain events of default. The

Lien Credit Facility also contains cross-default provisions tied to the terms of each of the Indenture and

Lien Term Loan.

Lien Term Loan

The

Lien Term Loan, which has a balance of $

80,207,000

September 29, 2019

, bears interest at a fixed annual rate of

12.0%,

payable quarterly, and matures in

December

2022.

Principal Payments

Excluding excess cash flow payments, there are

scheduled mandatory amortization payments required under the

Lien Term Loan.

Quarterly, we are required to prepare a calculation of excess cash flow of the Pulitzer Subsidiaries ("Pulitzer Excess Cash Flow"). Pulitzer Excess Cash Flow is generally determined as the cash earnings of the Pulitzer Subsidiaries including adjustments for changes in working capital, capital spending, pension contributions, debt principal payments and income tax payments. Pulitzer Excess Cash Flow also includes a deduction for interest costs incurred under the

Lien Term Loan.

Pulitzer Excess Cash Flow is used to prepay the

Lien Term Loan, at par, and is required to be paid

days after the end of the quarter.

Payments will also be made on the

Lien Term Loan, at par, with proceeds from asset sales by the Pulitzer Subsidiaries that are

not

reinvested subject to certain other conditions.

For

September 29, 2019

there were

principal payments, and for the year ended

September 30, 2018

we repaid $

4,000,000,

on the

Lien Term Loan, at par, with net proceeds from the sale of Pulitzer assets.

During the

and

weeks ended

September 29, 2019

, payments on the

Lien Term Loan totaled $

3,931,000

and $

13,349,000

respectively. For the

weeks ended

September 29, 2019

, Pulitzer Excess Cash Flow totaled $

2,954,000

, which was used to make a payment on the

Lien Term Loan in

November

2019,

at par.

Voluntary payments under the

Lien Term Loan are

longer subject to call premiums and are payable at par. The Indenture includes certain restrictions on voluntary payments on the

Lien Term Loan.

Prior to

March 31, 2017,

we were required to offer the Pulitzer Excess Cash Flow to the

Lien Lenders to prepay the

Lien Term Loan at par, which payment the

Lien Lenders could accept or reject. After

March 31, 2017,

the

Lien Lenders can

not

reject, and Pulitzer Excess Cash Flow is used to prepay the

Lien Term Loan, at par. Pulitzer Excess Cash Flow payments are required to be paid

days after the end of the quarter.

Pulitzer Excess Cash Flow and the related payments on the

Lien Term Loan for the previous

four

quarters are as follows:

For the Period Ending
(Thousands of Dollars)	Pulitzer Excess Cash Flow Payment		Payment Date

September 30, 2018		724	Q1 2019
December 30, 2018		1,377	Q2 2019
March 31, 2019		7,317	Q3 2019
June 30, 2019		3,931	Q4 2019

Covenants and Other Matters

The

Lien Term Loan requires that we comply with certain affirmative and negative covenants customary for financing of this nature, including the negative covenants under the

Lien Credit Facility discussed above. The

Lien Term Loan contains various representations and warranties and

may

be terminated upon occurrence of certain events of default. The

Lien Term Loan also contains cross-default provisions tied to the terms of the Indenture and

Lien Credit Facility.

In connection with the

Lien Term Loan, we entered into a Warrant Agreement dated as of

March

31,

2014

(the “Warrant Agreement”). Under the Warrant Agreement, certain affiliates or designees of the

Lien Lenders received on

March

31,

2014

their pro rata share of warrants to purchase, in cash, an initial aggregate of

6,000,000

shares of Common Stock, subject to adjustment pursuant to anti-dilution provisions (the “Warrants”). The Warrants represent, when fully exercised, approximately

10.1%

of shares of Common Stock outstanding at

March 30, 2014

on a fully diluted basis. The exercise price of the Warrants is

$4.19

per share.

The Warrant Agreement contains provisions requiring the Warrants to be measured at fair value and included in warrants and other liabilities in our Consolidated Balance Sheets. We re-measure the fair value of the liability each reporting period, with changes reported in other, net non-operating income (expense). The initial fair value of the Warrants was

$16,930,000.

See Note

and Note

12.

In connection with the issuance of the Warrants, we entered into a Registration Rights Agreement dated as of

March

31,

2014

(the “Registration Rights Agreement”). The Registration Rights Agreement requires, among other matters, that we use our commercially reasonable efforts to maintain the effectiveness for certain specified periods of a shelf registration statement related to the shares of Common Stock to be issued upon exercise of the Warrants.

Security

The Notes and the

Lien Credit Facility are fully and unconditionally guaranteed on a joint and several

first

-priority basis by each of the Company's material domestic subsidiaries, excluding MNI, the Pulitzer Subsidiaries and TNI (the "Lee Legacy Assignors"), pursuant to a

first

lien guarantee and collateral agreement dated as of

March 31, 2014 (

the

Lien Guarantee and Collateral Agreement").

The Notes, the

Lien Credit Facility and the subsidiary guarantees are secured, subject to certain exceptions, priorities and limitations, by perfected security interests in all property and assets, including certain real estate, of the Lee Legacy Assignors, other than the capital stock of MNI and any property and assets of MNI (the “Lee Legacy Collateral”), on a

first

-priority basis, equally and ratably with all of the Lee Legacy Assignors' existing and future obligations. The Lee Legacy Collateral includes, among other things, equipment, inventory, accounts receivables, depository accounts, intellectual property and certain of their other tangible and intangible assets.

Also, the Notes and the

Lien Credit Facility are secured, subject to certain exceptions, priorities and limitations in the various agreements, by

first

-priority security interests in the capital stock of, and other equity interests owned by the Lee Legacy Assignors (excluding the capital stock of MNI). The Notes and

Lien Credit Facility are subject to a Pari Passu Intercreditor Agreement dated

March 31, 2014.

The Notes, the

Lien Credit Facility and the subsidiary guarantees are also secured, subject to permitted liens, by a

second

-priority security interest in the property and assets of the Pulitzer Subsidiaries that become subsidiary guarantors (the "Pulitzer Assignors") other than assets of or used in the operations or business of TNI (collectively, the “Pulitzer Collateral”). In

June 2015

the Pulitzer Assignors became a party to the

Lien Guarantee and Collateral Agreement on a

second

lien basis.

Also, the Notes and the

Lien Credit Facility are secured, subject to certain exceptions, priorities, and limitations in the various agreements, by

second

-priority security interests in the capital stock of, and other equity interests in, the Pulitzer Assignors and Star Publishing’s interest in TNI.

The

Lien Term Loan is fully and unconditionally guaranteed on a joint and several

first

-priority basis by the Pulitzer Assignors, pursuant to a Second Lien Guarantee and Collateral Agreement dated as of

March

31,

2014

(the

“2

Lien Guarantee and Collateral Agreement”) among the Pulitzer Assignors and the

Lien collateral agent.

Under the

Lien Guarantee and Collateral Agreement, the Pulitzer Assignors have granted (i)

first

-priority security interests, subject to certain priorities and limitations in the various agreements, in the Pulitzer Collateral and (ii) have granted

first

-priority lien mortgages or deeds of trust covering certain real estate, as collateral for the payment and performance of their obligations under the

Lien Term Loan.

Also, under the

Lien Guarantee and Collateral Agreement, the Lee Legacy Assignors have granted (i)

second

-priority security interests, subject to certain priorities and limitations in the various agreements, in the Lee Legacy Collateral, and (ii) have granted

second

-priority lien mortgages or deeds of trust covering certain real estate, as collateral for the payment and performance of their obligations under the

Lien Term Loan. Assets of, or used in the operations or business of, MNI are excluded.

The rights of each of the collateral agents with respect to the Lee Legacy Collateral and the Pulitzer Collateral are subject to customary intercreditor and intercompany agreements.

Other

In connection with the

2014

Refinancing, we capitalized

$37,819,000

of debt financing costs. Amortization of debt financing costs totaled $

5,773,103

, $

4,769,000

and $

4,447,000

2019,

2018

and

2017

, respectively. Amortization of such costs is estimated

to total $

4,105,000

2020,

4,275,000

2021,

2,675,000

2022

and

$227,000

2023

. At

September 29, 2019

, we have $

11,282,000

of unamortized debt financing costs recorded as a reduction of Long-term debt in our Consolidated Balance Sheets.

During the

weeks ended

September 29, 2019,

we identified an adjustment of

$1,309,000

related to debt financing costs that should have been recorded in prior periods. The impact of recording this out of period adjustment was an increase to Debt financing and administrative costs of

$1,309,000

in the Consolidated Statements of Operations and Comprehensive Income for the

weeks ended

September 29, 2019

and an increase to debt of

$1,309,000

on the Consolidated Balance Sheet. We do

not

believe the impact of the adjustment is material to our consolidated financial statements for any previously issued financial statements taken as a whole, or to our net income for the

weeks ended

September 29, 2019

. Further, the impact of the corrections was

not

material to any of our Consolidated Balance Sheets nor our Consolidated Statements of Cash Flows.

Liquidity

September 29, 2019

, after consideration of letters of credit, we have approximately $

17,644,000

available for future use under our Revolving Facility. Including cash, our liquidity at

September 29, 2019

totals $

26,289,000

. This liquidity amount excludes any future cash flows. We expect all interest and principal payments due in the next

twelve

months will be satisfied by existing cash and our cash flows, which will allow us to maintain an adequate level of liquidity. The Warrants, if and when exercised, would provide additional liquidity in an amount u

p to

$25,140,000

sub

ject to a reduction for any amounts the Company

may

elect to use to repay our

Lien Term Loan and/or the Notes.

There are numerous potential consequences under the Notes,

Lien Credit Facility and

Lien Term Loan, if an event of default, as defined, occurs and is

not

remedied. Many of those consequences are beyond our control. The occurrence of

one

or more events of default would give rise to the right of the applicable lender(s) to exercise their remedies under the Notes,

Lien Credit Facility and

Lien Term Loan, respectively, including, without limitation, the right to accelerate all outstanding debt and take actions authorized in such circumstances under applicable collateral security documents.

Our ability to operate as a going concern is dependent on our ability to remain in compliance with debt covenants and to repay, refinance or amend our debt agreements as they become due. The Notes,

Lien Credit Facility and

Lien Term Loan have only limited affirmative covenants with which we are required to maintain compliance. We are in compliance with our debt covenants at

September 29, 2019

Note 6 - Pension Plans

12 Months Ended

Sep. 29, 2019

Pension Plan [Member]

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION PLANS

We have several non-contributory defined benefit pension plans that together cover selected employees. Benefits under the plans were generally based on salary and years of service. Effective in

2012,

substantially all benefits are frozen and only a small amount of additional benefits are being accrued. Our liability and related expense for benefits under the plans are recorded over the service period of employees based upon annual actuarial calculations. Plan funding strategies are influenced by government regulations. Plan assets consist primarily of domestic and foreign corporate equity securities, government and corporate bonds, hedge fund investments and cash.

The net periodic cost (benefit) components of our pension plans are as follows:

(Thousands of Dollars)	2019			2018			2017

Service cost for benefits earned during the year		36			48			84
Interest cost on projected benefit obligation		6,563			5,754			5,394
Expected return on plan assets		(8,073	)		(7,933	)		(7,878	)
Amortization of net loss		1,135			2,025			2,947
Amortization of prior service benefit		(100	)		(136	)		(136	)
Net periodic pension cost (benefit)		(439	)		(242	)		411

Changes in benefit obligations and plan assets are as follows:

(Thousands of Dollars)	2019			2018

Benefit obligation, beginning of year		176,531			191,645
Service cost		36			48
Interest cost		6,563			5,754
Actuarial loss (gain)		20,687			(9,464	)
Benefits paid		(11,448	)		(11,452	)
Benefit obligation, end of year		192,369			176,531
Fair value of plan assets, beginning of year:		151,255			149,762
Actual return on plan assets		8,705			10,576
Benefits paid		(11,448	)		(11,452	)
Administrative expenses paid		(2,163	)		(2,571	)
Employer contributions		650			4,940
Fair value of plan assets, end of year		146,999			151,255
Funded status		(45,370	)		(25,276	)

Disaggregated amounts recognized in the Consolidated Balance Sheets are as follows:

	September 29			September 30
(Thousands of Dollars)	2019			2018

Pension obligations		(45,370	)		(25,276	)
Accumulated other comprehensive loss (before income taxes)		(53,066	)		(31,882	)

Amounts recognized in accumulated other comprehensive income (loss) are as follows:

	September 29			September 30
(Thousands of Dollars)	2019			2018

Unrecognized net actuarial loss		(53,072	)		(31,988	)
Unrecognized prior service benefit		6			106
		(53,066	)		(31,882	)

We expect to recognize

$3,166,000

and

$6,000

of unrecognized net actuarial loss and unrecognized prior service benefit, respectively, in net periodic pension cost in

2020.

The accumulated benefit obligation for the plans total

$192,369,000

September 29, 2019

and

$176,531,000

September 30, 2018

. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of plan assets are

$192,369,000,

$192,369,000

and

$146,999,000,

respectively, at

September 29, 2019

Assumptions

Weighted-average assumptions used to determine benefit obligations are as follows:

	September 29		September 30
(Percent)	2019		2018

Discount rate		3.1		4.2

Weighted-average assumptions used to determine net periodic benefit cost are as follows:

(Percent)	2019		2018		2017

Discount rate - service cost		4.2		3.7		3.5
Discount rate - interest cost		3.9		3.1		2.8
Expected long-term return on plan assets		5.5		5.5		5.5

For

2020,

the expected long-term return on plan assets is

5.5%.

The assumptions related to the expected long-term return on plan assets are developed through an analysis of historical market returns, current market conditions and composition of plan assets.

Plan Assets

The primary objective of our investment strategy is to satisfy our pension obligations at a reasonable cost. Assets are actively invested to balance real growth of capital through appreciation and reinvestment of dividend and interest income and safety of invested funds.

Our investment policy outlines the governance structure for decision making, sets investment objectives and restrictions and establishes criteria for selecting and evaluating investment managers. The use of derivatives is prohibited, except on a case-by-case basis where the manager has a proven capability, and only to hedge quantifiable risks such as exposure to foreign currencies. An investment committee, consisting of certain of our executives and supported by independent consultants, is responsible for monitoring compliance with the investment policy. Assets are periodically redistributed to maintain the appropriate policy allocation.

The weighted-average asset allocation of our pension assets is as follows:

(Percent)	Policy Allocation			Actual Allocation
	September 29		September 29		September 30
Asset Class	2019		2019		2018

Equity securities		50		49		50
Debt securities		35		34		32
TIPS		5		5		4
Hedge fund investments		10		10		10
Cash and cash equivalents		—		2		4

Plan assets include

Company securities. Assets include cash and cash equivalents and receivables from time to time due to the need to reallocate assets within policy guidelines.

Fair Value Measurements

The fair value hierarchy of pension assets at

September 29, 2019

is as follows:

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		2,970		—		—
Domestic equity securities		9,524		8,971		40,593		—
International equity securities		—		6,525		7,283		—
TIPS		—		6,918		—		—
Debt securities		—		26,392		24,190		—
Hedge fund investments		15,733		—		—		—

The fair value hierarchy of pension assets at

September 30, 2018

is as follows:

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		5,537		—		—
Domestic equity securities		10,045		12,573		40,083		—
International equity securities		—		7,070		7,560		—
TIPS		—		6,535		—		—
Debt securities		—		25,673		22,523		—
Hedge fund investments		15,767		—		—		—

There were

purchases, sales or transfers of assets classified as Level

2019

2018

. Pension assets included in the fair value hierarchy at net asset value, or "NAV", include

three

investments:

	•	U.S. small cap value equity common/collective fund for which fund prices are not publicly available. The balance of this investment is $9,524,000 and $10,045,000 as of 9/29/2019 and 9/30/2018, respectively. We can redeem this fund on a monthly basis.
	•	Global equity long/short common/collective hedge fund-of-funds for which fund prices are established on a monthly basis. The balance of this investment is $7,923,000 and $8,116,000 as of 9/29/2019 and 9/30/2019, respectively. We can redeem up to 90% of our investment in this fund within 90 - 120 days of notice with the remaining distributed following completion of the audit of the Fund's financial statements for the year.
	•	Global equity long/short common/collective hedge fund-of-funds for which fund prices are established on a monthly basis. The balance of this investment is $7,810,000 and $7,651,000 as of 9/29/2019 and 9/30/2018, respectively. We can redeem up to 50% of our investment in this fund twice per year.

Cash Flows

Based on our forecast at

September 29, 2019

, we expect to make contributions of

$6,718,000

to our pension trust in

2020.

We anticipate future benefit payments to be paid from the pension trust as follows:

(Thousands of Dollars)

2020		12,452
2021		11,770
2022		11,711
2023		11,725
2024		11,679
2025-2029		56,172

Other Plans

We are obligated under an unfunded plan to provide fixed retirement payments to certain former employees. The plan is frozen and

additional benefits are being accrued. The accrued liability under the plan is

$1,667,000

and

$1,469,000

September 29, 2019

and

September 30, 2018

, respectively.

Note 7 - Postretirement and Postemployment Benefits

12 Months Ended

Sep. 29, 2019

Other Postretirement Benefits Plan [Member]

Pension and Other Postretirement Benefits Disclosure [Text Block]

POSTRETIREMENT AND POSTEMPLOYMENT BENEFITS

We provide retiree medical and life insurance benefits under postretirement plans at several of our operating locations. The level and adjustment of participant contributions vary depending on the specific plan. In addition, St. Louis Post Dispatch LLC provides postemployment disability benefits to certain employee groups prior to retirement

Our liability and related expense for benefits under the postretirement plans are recorded over the service period of active employees based upon annual actuarial calculations. We accrue postemployment disability benefits when it becomes probable that such benefits will be paid and when sufficient information exists to make reasonable estimates of the amounts to be paid.

The net periodic postretirement benefit cost (benefit) components for our postretirement plans are as follows:

(Thousands of Dollars)	2019			2018			2017

Service cost for benefits earned during the year		—			—			13
Interest cost on projected benefit obligation		412			365			412
Expected return on plan assets		(1,082	)		(1,080	)		(1,056	)
Amortization of net actuarial gain		(976	)		(984	)		(987	)
Amortization of prior service benefit		(723	)		(785	)		(1,459	)
Curtailment gains		0			(2,031	)		(3,741	)
Net periodic postretirement benefit		(2,369	)		(4,515	)		(6,818	)

March 2017,

we notified certain participants in

one

of our postemployment medical plans of changes to their plan, which included notice that the plan will terminate on

December 31, 2017.

These changes resulted in a non-cash curtailment gain of

$2,031,000

and

$3,741,000

2018

and

2017,

respectively. The curtailment gain is recorded in assets loss (gain) on sales, impairments and other in the Consolidated Statements of Income and Comprehensive Income. These charges also reduced the postemployment benefit obligation by

$7,036,000

and reduced accumulated other comprehensive loss by

$106,000

and

$1,417,000

2018

and

2017,

respectively.

Changes in benefit obligations and plan assets are as follows:

(Thousands of Dollars)	2019			2018

Benefit obligation, beginning of year		11,756			15,667
Service cost		—			—
Interest cost		412			365
Actuarial loss (gain)		1,033			(1,054	)
Benefits paid, net of premiums received		(1,507	)		(1,399	)
Curtailment		—			(1,924	)
Medicare Part D subsidies		58			101
Benefit obligation, end of year		11,752			11,756
Fair value of plan assets, beginning of year		24,647			24,626
Actual return on plan assets		2,097			2,106
Employer contributions		222			422
Benefits paid, net of premiums and Medicare Part D subsidies received		(1,449	)		(1,298	)
Benefits paid for active employees		(1,382	)		(1,209	)
Fair value of plan assets at measurement date		24,135			24,647
Funded status		12,383			12,891

Disaggregated amounts recognized in the Consolidated Balance Sheets are as follows:

	September 29		September 30
(Thousands of Dollars)	2019		2018

Non-current assets		12,383		12,891
Postretirement benefit obligations		—		—
Accumulated other comprehensive income (before income tax benefit)		14,818		17,917

Amounts recognized in accumulated other comprehensive income are as follows:

	September 29		September 30
(Thousands of Dollars)	2019		2018

Unrecognized net actuarial gain		4,970		12,224
Unrecognized prior service benefit		9,848		5,693
		14,818		17,917

We expect to recognize

$743,000

and

$647,000

of unrecognized net actuarial gain and unrecognized prior service benefit, respectively, in net periodic postretirement benefit in

2020.

Assumptions

Weighted-average assumptions used to determine postretirement benefit obligations are as follows:

	September 29		September 30
(Percent)	2019		2018

Discount rate		2.8		4.0
Expected long-term return on plan assets		4.5		4.5

The assumptions related to the expected long-term return on plan assets are developed through an analysis of historical market returns, current market conditions and composition of plan assets.

Weighted-average assumptions used to determine net periodic benefit cost are as follows:

(Percent)	2019		2018		2017

Discount rate - service cost		4.0		3.4		3.1
Discount rate - interest cost		3.7		2.8		2.4
Expected long-term return on plan assets		4.5		4.5		4.5

For

2019

, the expected long-term return on plan assets is

4.5%.

The assumptions related to the expected long-term return on plan assets are developed through an analysis of historical market returns, current market conditions and composition of plan assets.

Assumed health care cost trend rates are as follows:

	September 29		September 30
(Percent)	2019		2018

Health care cost trend rates		8.5		9.0
Rate to which the cost trend rate is assumed to decline (the “Ultimate Trend Rate”)		4.5		4.5
Year in which the rate reaches the Ultimate Trend Rate	2027		2026

Administrative costs related to indemnity plans are assumed to increase at the health care cost trend rates noted above.

Assumed health care cost trend rates have an effect on the amounts reported for the postretirement plans. A

one

percentage point change in assumed health care cost trend rates would have the following annualized effects on reported amounts for

2019

	One Percentage Point
(Thousands of Dollars)	Increase		Decrease

Effect on net periodic postretirement benefit		11		(10	)
Effect on postretirement benefit obligation		425		(389	)

Plan Assets

Assets of the retiree medical plan are invested in a master trust. The master trust also pays benefits of active employee medical plans for the same union employees. The fair value of master trust assets allocated to the active employee medical plans at

September 29, 2019

and

September 30, 2018

$1,955,000

and

$3,266,000,

respectively, which are included within the tables below.

The primary objective of our investment strategy is to satisfy our postretirement obligations at a reasonable cost. Assets are actively invested to balance real growth of capital through appreciation and reinvestment of dividend and interest income and safety of invested funds.

Our investment policy outlines the governance structure for decision making, sets investment objectives and restrictions, and establishes criteria for selecting and evaluating investment managers. The use of derivatives is strictly prohibited, except on a case-by-case basis where the manager has a proven capability, and only to hedge quantifiable risks such as exposure to foreign currencies. An investment committee, consisting of certain of our executives and supported by independent consultants, is responsible for monitoring compliance with the investment policy. Assets are periodically redistributed to maintain the appropriate policy allocation.

The weighted-average asset allocation of our postretirement assets is as follows:

(Percent)	Policy Allocation		Actual Allocation
			September 29		September 30
Asset Class	September 29 2019		2019		2018

Equity securities		20		18		18
Debt securities		70		68		69
Hedge fund investment		10		14		13
Cash and cash equivalents		—		—		—

Plan assets include

Company securities. Assets include cash and cash equivalents and receivables from time to time due to the need to reallocate assets within policy guidelines.

Fair Value Measurements

The fair value hierarchy of postretirement assets at

September 29, 2019

is as follows:

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		—		—		—
Domestic equity securities		778		2,640		—		—
International equity securities		—		628		750		—
Debt securities		—		17,707		—		—
Hedge fund investment		3,587		—		—		—

The fair value hierarchy of postretirement assets at

September 30, 2018

is as follows:

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		242		—		—
Domestic equity securities		820		2,589		—		—
International equity securities		—		681		780		—
Debt securities		—		19,185		—		—
Hedge fund investment		3,616		—		—		—

There were

purchases, sales or transfers of assets classified as Level

2019

2018

. Postretirement assets included in the fair value hierarchy at net asset value, or "NAV", include

two

investments:

	•	U.S. small cap value equity common/collective fund for which fund prices are not publicly available. The balance of this investment is $778,000 and $820,000 as of 9/29/2019 and 9/30/2018, respectively. We can redeem this fund on a monthly basis.
	•	Global equity long/short common/collective hedge fund-of-funds for which fund prices are established on a monthly basis. The balance of this investment is $3,587,000 and $3,616,000 as of 9/29/2019 and 9/30/20018, respectively. We can redeem up to 90% of our investment in this fund within 90 - 120 days of notice with the remaining distributed following completion of the audit of the Fund's financial statements for the year.

Cash Flows

Based on our forecast at

September 29, 2019

, we do

not

expect to contribute to our postretirement plans in

2019

The Medicare Prescription Drug, Improvement and Modernization Act of

2003

(the “Modernization Act”) introduced a prescription drug benefit under Medicare (“Medicare Part D”) and a federal subsidy to sponsors of retiree health care benefit plans (“Subsidy”) that provide a benefit at least actuarially equivalent (as that term is defined in the Modernization Act) to Medicare Part D. We concluded we qualify for the Subsidy under the Modernization Act since the prescription drug benefits provided under our postretirement health care plans generally require lower premiums from covered retirees and have lower deductibles than the benefits provided in Medicare Part D and, accordingly, are actuarially equivalent to or better than, the benefits provided under the Modernization Act.

We anticipate future benefit payments to be paid either with future contributions to the plan or directly from plan assets, as follows:

			Less
			Medicare
	Gross		Part D			Net
(Thousands of Dollars)	Payments		Subsidy			Payments

2020		1,241		(66	)		1,175
2021		1,201		(65	)		1,136
2022		1,154		(63	)		1,091
2023		1,099		(60	)		1,039
2024		1,039		(57	)		982
2025-2029		4,185		(221	)		3964

Postemployment Plan

Our postemployment benefit obligation, which represents certain disability benefits

$2,550,000

September 29, 2019

and

$2,580,000

September 30, 2018

Note 8 - Other Retirement Plans

12 Months Ended

Sep. 29, 2019

Other Retirement Plans [Text Block]

OTHER RETIREMENT PLANS

Substantially all of our employees are eligible to participate in a qualified defined contribution retirement plan. We also have a non-qualified plan for employees whose incomes exceed qualified plan limits.

Retirement and compensation plan costs, including costs related to stock based compensation and the defined contribution retirement plan, charged to continuing operations are

$3,849,000

2019

$4,430,000

2018

and

$4,396,000

2017

Multiemployer Pension Plans

We contributed to

three

multiemployer defined benefit pension plans under the terms of collective-bargaining agreements ("CBAs"). The risks of participating in these multiemployer plans are different from our company-sponsored plans in the following aspects:

•

We do

not

manage the plan investments or any other aspect of plan administration;

•

Assets contributed to the multiemployer plan by

one

employer

may

be used to provide benefits to employees of other participating employers;

•

If a participating employer stops contributing to the plan, the unfunded obligations of the plan

may

be borne by the remaining participating employers; and

•

If we choose to stop participating in

one

or more multiemployer plans, we

may

be required to fund over time an amount based on the unfunded status of the plan at the time of withdrawal, referred to as "withdrawal liability".

Information related to these plans is outlined in the table below:

(Thousands of Dollars)

Zone Status September 30

Funding Improvement Plan/Rehabilitation Plan Status

Contributions

Expiration Dates of

Pension Plan

2019

2018

Status

2019

2018

2017

Surcharge Imposed

CBAs

GCIU- Employer Retirement Fund 91-6024903/001

Critical

Red

Implemented

107

123

3/24/2020

District No. 9, International Association of Machinists and Aerospace Workers Pension Trust 43-0736847/001

Endangered

Green

N/A

2/28/2021

The GCIU unit at

one

of our bargaining units withdrew representation and, as a result, precipitated a partial withdrawal from the GCIU Employer Retirement Fund. The Company had previously accrued

$2,600,000

2017

pending the final assessment from the fund. We received the final assessment in

2019

and increased the accrual to the final assessed amount of

$3,181,000.

The District

IAM plan notified the Company in

April 2019

that it is in endangered status. The plan could be either declared red status or modified. The plan has

not

indicated what action will be taken.

The Company has effectuated a total withdrawal from the CWA/ITU Pension plan in

2019

which was in critical status as of

September 30, 2019.

This action was precipitated by a disclaimer of interest by

one

of our bargaining units, which forced a partial withdrawal from the fund. The Company has elected to precipitate withdrawals from the other units to accomplish a full withdrawal. The full withdrawal will be accomplished by triggering sections of those contracts which allowed for withdrawal from the fund in exchange for benefits and outsourcing of work. The Company has accrued a liability of

$3,255,000

in Warrants and other in

2019

to estimate the impact of the full withdrawal.

Note 9 - Common Stock and Class B Common Stock	12 Months Ended
Note 9 - Common Stock and Class B Common Stock	Sep. 29, 2019
Notes to Financial Statements
Schedule of Stock by Class [Table Text Block]	9 COMMON STOCK AND CLASS B COMMON STOCK Common Stock The par value of our Common Stock was changed from $2.00 per share to $0.01 per share effective January 30, 2012. Holders of our previous 2 nd lien agreement shared in the issuance of 6,743,640 shares of our Common Stock, an amount equal to 13% of outstanding shares on a pro forma basis as of January 30, 2012. In connection with the currently outstanding 2nd Lien Term Loan, we entered into the Warrant Agreement. Under the Warrant Agreement, certain affiliates or designees of the 2nd Lien Lenders received on March 31, 2014 their pro rata share of Warrants to purchase, in cash, 6,000,000 shares of Common Stock, subject to adjustment pursuant to anti-dilution provisions. The Warrants represent, when fully exercised, approximately 10.1% of shares of Common Stock outstanding at March 30, 2014 on a fully diluted basis. The exercise price of the Warrants is $4.19 per share. The Warrant Agreement contains a cash settlement provision in the event of a change of control prior to March 31, 2018, as well as other provisions requiring the Warrants be measured at fair value and classified as warrants and other liabilities in our Consolidated Balance Sheets. We re-measure the liability to fair value each reporting period, with changes reported in other non-operating income (expense). The initial fair value of the Warrants was $16,930,000. At September 29, 2019 , the fair value of the Warrants is $ 1,195,000 . In connection with the issuance of the Warrants, we entered into the Registration Rights Agreement. The Registration Rights Agreement requires, among other matters, that we use our commercially reasonable efforts to file and maintain the effectiveness for certain specified periods of a shelf registration statement covering the shares of Common Stock upon exercise of the Warrants. Class B Common Stock In 1986, one share of Class B Common Stock was issued as a dividend for each share of Common Stock held by stockholders of record at the time. The transfer of Class B Common Stock was restricted. As originally anticipated, the number of outstanding Class B shares decreased over time through trading and reached the sunset level of 5,600,000 shares in March 2011. In March 2011, in accordance with the sunset provisions established in 1986, we effected conversion of all outstanding shares of Class B Common Stock to Common Stock. As a result, all stockholders have one vote per share on all future matters. Class B shares formerly had ten votes per share.

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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Note 10 - Stock Ownership Plans

12 Months Ended

Sep. 29, 2019

Share-based Payment Arrangement [Text Block]

STOCK OWNERSHIP PLANS

Total non-cash stock compensation expense is $

1,638,000

, $

1,857,000

and $

2,088,000

, in

2019,

2018

and

2017

, respectively.

September 29, 2019

, we have reserved

2,805,000

shares of Common Stock for issuance to employees under an incentive and nonstatutory stock option and restricted stock plan approved by stockholders of which

1,600,000

shares are available for granting of non-qualified stock options or issuance of restricted Common Stock.

Stock Options

Options are granted at a price equal to the fair market value on the date of the grant and are exercisable, upon vesting, over a

ten

-year period.

A summary of stock option activity is as follows:

(Thousands of Shares)	2019			2018			2017

Under option, beginning of year		1,100			1,271			1,698
Exercised		(93	)		(131	)		(339	)
Canceled		(198	)		(40	)		(88	)
Under option, end of year		809			1,100			1,271
Exercisable, end of year		809			1,100			1,271

Weighted average prices of stock options are as follows:

(Dollars)	2019		2018		2017

Exercised		2.06		1.42		1.53
Cancelled		2.08		2.49		14.02
Under option, end of year		1.82		1.88		1.86

A summary of stock options outstanding at

September 29, 2019

is as follows:

(Dollars)	Options Outstanding			Options Exercisable
Range of	Number Outstanding (Thousands)	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price	Number Exercisable (Thousands)	Weighted Average Exercise Price

1 - 2	425	2.7	1.14	425	1.14
2 - 3	384	1.0	2.57	384	2.57
	809	1.9	1.82	809	1.82

There is

unrecognized compensation expense for unvested stock options at

September 29, 2019

The aggregate intrinsic value of stock options outstanding at

September 29, 2019

179,000

Restricted Common Stock

A summary of restricted Common Stock activity follows:

(Thousands of Shares)	2019			2018			2017

Outstanding, beginning of year		2,059			2,478			2,462
Granted		788			587			837
Vested		(1,337	)		(936	)		(751	)
Forfeited		(33	)		(70	)		(70	)
Outstanding, end of year		1,477			2,059			2,478

Weighted average grant date fair values of restricted Common Stock are as follows:

(Dollars)	2019		2018		2017

Outstanding, beginning of year		2.31		2.69		2.74
Granted		2.18		2.33		3.34
Vested		2.03		3.31		3.59
Forfeited		2.13		2.85		2.98
Outstanding, end of year		2.49		2.31		2.69

Total unrecognized compensation expense for unvested restricted Common Stock at

September 29, 2019

is $

1,350,000

, which will be recognized over a weighted average period of

1.2

years.

December

2019

, we expect to issue shares of

724,300

estricted Common Stock to employees. All restrictions with respect to these shares lapse in

December 2022.

Stock Purchase Plans

We have

270,000

shares of Common Stock available for issuance pursuant to our Employee Stock Purchase Plan. We also have

8,700

shares of Common Stock available for issuance under our Supplemental Employee Stock Purchase Plan. There has been

activity under these plans in

2019

2018

2017

Note 11 - Income Taxes

12 Months Ended

Sep. 29, 2019

Income Tax Disclosure [Text Block]

INCOME TAXES

December 22, 2017,

the

2017

Tax Act was signed into law. Among other provisions, the

2017

Tax Act reduces the federal statutory corporate income tax rate from

35%

21%.

The reduction of the corporate tax rate caused us to re-measure our deferred tax assets and liabilities to the lower federal base rate of

21%.

We reported a discrete adjustment from revaluing our deferred tax assets and liabilities which resulted in a provisional net decrease in income tax expense of

$24,872,000

for the

weeks ended

December 24, 2017.

The Securities Exchange Commission issued rules that allow for a measurement period of up to

one

year after the enactment date of the

2017

Tax Act to finalize the recording of the related transitional impact. Apart from any future changes in interpretations, legislative action or changes in accounting standards, we have finalized and recorded the resulting adjustments as of

September 29, 2019

. The impact of the re-measurement did

not

change materially for the

weeks ended

September 29, 2019

Income tax expense (benefit) consists of the following:

(Thousands of Dollars)	2019			2018			2017

Current:
Federal		8,763			275			394
State		1,171			875			819
Deferred		(2,003	)		(17,378	)		10,398
		7,931			(16,228	)		11,611

Income tax expense (benefit) related to continuing operations differs from the amounts computed by applying the U.S. federal income tax rate to income (loss) before income taxes. The reasons for these differences are as follows:

(Percent of Income (Loss) Before Income Taxes)	2019			2018			2017

Computed “expected” income tax expense (benefit)		21.0			24.7			35.0
State income tax expense (benefit), net of federal tax impact		1.3			2.6			2.3
Net income of associated companies taxed at dividend rates		(3.9	)		(5.1	)		(3.7	)
Resolution of tax matters		1.7			(8.4	)		2.2
Non-deductible expenses		3.4			2.9			1.5
Valuation allowance		10.8			9.9			2.6
Warrant valuation		(0.6	)		0.2			(10.2	)
Revaluation of deferred income taxes due to law charges		—			(79.1	)		—
Other		(0.4	)		(0.4	)		(0.8	)
		33.3			(52.7	)		28.9

Net deferred income tax liabilities consist of the following components:

	September 29			September 30
(Thousands of Dollars)	2019			2018

Deferred income tax liabilities:
Property and equipment		(14,424	)		(16,506	)
Identified intangible assets		(15,358	)		(18,486	)
Long-term debt		(6,647	)		(11,074	)
Accrued compensation		(189	)		2,402
Investments		(3,164	)		(6,472	)
		(39,782	)		(50,136	)
Deferred income tax assets:
Allowance for doubtful accounts and losses on loans		1,279			910
Pension and postretirement benefits		4,048			2,305
Operating loss carryforwards		41,610			41,663
Accrued expenses		426			424
Other		2,526			3,075
		49,889			48,377
Valuation allowance		(39,913	)		(37,349	)
Net deferred income tax liabilities		(29,806	)		(39,108	)

All deferred taxes are categorized as non-current.

A reconciliation of

2019

and

2018

changes in gross unrecognized tax benefits is as follows:

(Thousands of Dollars)	2019			2018

Balance, beginning of year		16,104			13,915
Increases (decreases) in tax positions for prior years		33			132
Increases in tax positions for the current year		2,472			2,567
Lapse in statute of limitations		(357	)		(510	)
Balance, end of year		18,252			16,104

Approximately

$10,665,000

and

$10,312,000

of the gross unrecognized tax benefit balances for

2019

and

2018

, respectively, relate to state net operating losses which are netted against deferred taxes on our balance sheet. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was

$14,019,000

September 29, 2019

. We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. The amount of accrued interest related to unrecognized tax benefits was, net of tax,

$848,000

September 29, 2019

and

$563,000

September 30, 2018

. There were

amounts provided for penalties at

September 29, 2019

September 30, 2018

September 29, 2019,

we had a deferred tax asset of

$4,255,000

related to disallowed interest expense.

significant income tax audits are currently in progress and the Company has

not

received any notices of intent to audit. Certain of the Company's state income tax returns for the year ended

September 29, 2013

are open for examination. The Federal and remaining state returns are open beginning with the

September 29, 2014

year.

September 29, 2019

, we have state tax benefits of approximately

$63,338,000

in net operating loss ("NOL") carryforwards that expire between

2020

and

2039.

These NOL carryforwards result in a deferred income tax asset of

$50,037,000

September 29, 2019

, a portion of which is offset by a valuation allowance.

As expected, we reported a taxable income in

2018

in excess of our remaining NOL, so that

Federal NOL is available in fiscal year

2019.

Note 12 - Fair Value of Financial Instruments

12 Months Ended

Sep. 29, 2019

Fair Value Disclosures [Text Block]

FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practicable to estimate value.

The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of those instruments. Investments totaling

$6,068,000,

including our

16.7%

ownership of the non-voting common stock and

0.7%

of the voting common stock of TCT, which represents

8.7%

of total TCT stock, and a private equity investment, are carried at cost. As of

September 29, 2019,

the approximate fair value of the private equity investment is

$10,268,000

which is a level

fair value measurement.

September 29, 2019

we had

floating rate debt. Our fixed rate debt consists of $

363,420,000

principal amount of the Notes and, $

80,207,000

principal amount under the

Lien Term Loan. At

September 29, 2019

, based on an average of private market price quotations, the fair values were $

364,328,550

and $

80,207,214

for the Notes and

Lien Term Loan, respectively. These represent Level

fair value measurements.

As discussed more fully in Notes

and

we recorded a liability for the Warrants issued in connection with the Warrant Agreement. The liability was initially measured at its fair value and we will re-measure the liability to fair value each reporting period, with changes reported in other non-operating income (expense). The initial fair value of the Warrants was $

16,930,000

. The fair value of the Warrants at

September 29, 2019

September 30, 2018

and

September 24, 2017

are $

1,195,000

, $

1,807,000

and $

1,580,000

, respectively. In other, net non-operating income (expense) in the Consolidated Statements of Income and Comprehensive Income, we recognized income of

$612,000

2019

, expense of $

226,000

2018

and income of $

10,181,000

2017

, for adjustments in the fair value of the Warrants.

The following assumptions were used to estimate the fair value of the Warrants:

	2019		2018		2017

Volatility (Percent)		48		31		37
Risk-free interest rate (Percent)		1.58		2.91		1.81
Expected term (Years)		2.5		3.5		4.5
Estimated fair value (Dollars)		0.20		0.30		0.26

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 13 - Earnings Per Common Share

12 Months Ended

Sep. 29, 2019

Earnings Per Share [Text Block]

EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share:

(Thousands of Dollars and Shares, Except Per Common Share Data)	2019			2018			2017

Income attributable to Lee Enterprises, Incorporated:		14,268			45,766			27,481

Weighted average Common Stock		57,648			57,009			56,481
Less non-vested restricted Common Stock		(2,083	)		(2,307	)		(2,491	)
Basic average Common Stock		55,565			54,702			53,990
Dilutive stock options and restricted Common Stock		1,319			1,246			1,402
Diluted average Common Stock		56,884			55,948			55,392
Earnings per common share:
Basic:		0.26			0.84			0.51
Diluted		0.25			0.82			0.50

For

2019,

2018

and

2017

, we had

6,384,000,

7,206,000

and

7,577,000

weighted average shares, respectively,

not

considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock.

Note 14 - Allowance for Doubtful Accounts

12 Months Ended

Sep. 29, 2019

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

ALLOWANCE FOR DOUBTFUL ACCOUNTS

Valuation and qualifying account information related to the allowance for doubtful accounts receivable related to continuing operations is as follows:

(Thousands of Dollars)	2019			2018			2017

Balance, beginning of year		4,806			4,796			4,327
Additions charged to expense		2,751			1,952			1,696
Deductions from reserves		(1,123	)		(1,942	)		(1,227	)
Balance, end of year		6,434			4,806			4,796

Note 15 - Other Information

12 Months Ended

Sep. 29, 2019

Other Information [Text Block]

OTHER INFORMATION

Compensation and other accrued liabilities consist of the following:

	September 29		September 30
(Thousands of Dollars)	2019		2018

Compensation		9,170		10,363
Retirement plans		2,637		2,673
Other		5,904		6,605
		17,711		19,641

Supplemental cash flow information includes the following cash payments:

(Thousands of Dollars)	2019		2018		2017

Interest		47,555		52,180		58,844
Debt financing and reorganization costs		1,773		437		373
Income tax payments, net		8,439		464		1,214

Accumulated other comprehensive income (loss), net of deferred income taxes at

September 29, 2019

and

September 30, 2018

, is related to pension and postretirement benefits.

Note 16 - Commitments and Contingent Liabilities	12 Months Ended
Note 16 - Commitments and Contingent Liabilities	Sep. 29, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	16 COMMITMENTS AND CONTINGENT LIABILITIES Operating Leases We have operating lease commitments for certain of our office, production and distribution facilities. Management expects that in the normal course of business, existing leases will be renewed or replaced. Minimum lease payments during the five years ending September 2024 and thereafter are $3,403,000, $2,290,000, $2,238,000, $1,637,000, $1,367,000 and $4,991,000, respectively. In 2019, 2018 and 2017 total operating lease expense was $4,993,000, $4,064,000 and $3,866,000, respectively. Capital Expenditures At September 29, 2019 , we had construction and equipment purchase commitments totaling approximately $1,642,000. Income Taxes Commitments exclude unrecognized tax benefits to be recorded in accordance with FASB ASC Topic 740, Income Taxes . We are unable to reasonably estimate the ultimate amount or timing of cash settlements with the respective taxing authorities for such matters. See Note 11. We file income tax returns with the Internal Revenue Service ("IRS") and various state tax jurisdictions. From time to time, we are subject to routine audits by those agencies, and those audits may result in proposed adjustments. We have considered the alternative interpretations that may be assumed by the various taxing agencies, believe our positions taken regarding our filings are valid, and that adequate tax liabilities have been recorded to resolve such matters. However, the actual outcome cannot be determined with certainty and the difference could be material, either positively or negatively, to the Consolidated Statements of Income and Comprehensive Income (Loss) in the periods in which such matters are ultimately determined. We do not believe the final resolution of such matters will be material to our consolidated financial position or cash flows. We have various income tax examinations ongoing and at various stages of completion, but generally our income tax returns have been audited or closed to audit through 2013. Legal Proceedings We are involved in a variety of legal actions that arise in the normal course of business. Insurance coverage mitigates potential loss for certain of these matters. While we are unable to predict the ultimate outcome of these legal actions, it is our opinion that the disposition of these matters will not have a material adverse effect on our Consolidated Financial Statements, taken as a whole. Multiemployer Pension Plans We effectuated a total withdrawal from the CWA/ITU plan in 2019 as discussed in Note 8. As a result, we are subject to a claim from the multiemployer pension plan for a withdrawal liability. The amount and timing of such liability will be dependent on actions taken, or not taken, by the Company and the pension plan, as well as the future investment performance and funding status of the plan. In 2019, we accrued a liability of $3,255,000 related to this withdrawal. The withdrawal liability determined to be due under this plan will be funded over a period of 20 years.

Note 17 - Quarterly Financial Data (Unaudited)

12 Months Ended

Sep. 29, 2019

Quarterly Financial Information [Text Block]

QUARTERLY FINANCIAL DATA (UNAUDITED)

Per share amounts

may

not

add due to rounding.

	Quarter Ended
(Thousands of Dollars, Except Per Common Share Data)	December		March			June		September

2019

Operating revenue		136,201		122,704			127,284		123,665

Net income		10,719		(2,327	)		6,172		1,345

Income attributable to Lee Enterprises, Incorporated		10,361		(2,678	)		5,766		819

Earnings per common share:
Basic		0.19		(0.05	)		0.10		0.01
Diluted		0.18		(0.05	)		0.10		0.01

2018

Operating revenue		143,786		127,805			132,618		139,746

Net income		35,327		2,533			4,750		4,438

Income attributable to Lee Enterprises, Incorporated		35,003		2,239			4,458		4,066

Earnings (loss) per common share:
Basic		0.64		0.04			0.08		0.07
Diluted		0.63		0.04			0.08		0.07

Significant Accounting Policies (Policies)

12 Months Ended

Sep. 29, 2019

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

The Consolidated Financial Statements include our accounts and those of our subsidiaries, all of which are wholly-owned, except for our

50%

interest in TNI,

50%

interest in MNI and

82.5%

interest in TownNews, TNI and MNI are accounted for under the equity method. Results of TownNews are consolidated.

February 2018,

"2017

Tax Act"). In the

first

quarter of fiscal year

2018,

$3,067,000

net tax benefit from AOCI to retained earnings in our consolidated balance sheets. Adoption of the standard had

impact to our consolidated income statements or cash flows statements.

March 2016,

2018

and the impact from the adoption of this standard did

not

have a material impact on the Consolidated Financial Statements.

Fiscal Period, Policy [Policy Text Block]

Fiscal Year

All of our enterprises use period accounting with the fiscal year ending on the last Sunday in

September.

Subsequent Events, Policy [Policy Text Block]

Subsequent Events

We have evaluated subsequent events through

December 13, 2019.

events have occurred subsequent to

September 29, 2019

that require disclosure or recognition in these financial statements.

Use of Estimates, Policy [Policy Text Block]

Accounting Estimates

hat are

not

readily apparent from other sources. Actual results

may

differ from these estimates under different assumptions or conditions.

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

All significant intercompany transactions and balances have been eliminated.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

We consider all highly liquid debt instruments purchased with an original maturity of

three

months or less at date of acquisition to be cash equivalents.

Accounts Receivable [Policy Text Block]

Accounts Receivable

Inventory, Policy [Policy Text Block]

Inventories

Newsprint inventories and other inventories are priced at the lower of cost or net realizable value. LIFO newsprint inventories at

September 29, 2019

and

September 30, 2018

are less than replacement cost by

$1,661,000

and

,333,00

, respectively.

The components of inventory by cost method are as follows:

(Thousands of Dollars)	September 29, 2019		September 30, 2018

Newsprint - FIFO method		1,498		2,079
Newsprint - LIFO method		1,296		2,071
Other inventory - FIFO method		975		1,534
		3,769		5,684

Investment, Policy [Policy Text Block]

Other Investments

Other investments primarily consist of marketable securities held in trust under a deferred compensation arrangement and investments for which

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

	Years

Buildings and improvements		4 - 54
Printing presses and insertion equipment		5 - 28
Other		3 - 17

not

material in

2019,

2018

2017.

Goodwill and Intangible Assets, Policy [Policy Text Block]

Goodwill and Other Intangible Assets

Intangible assets include covenants

not

to compete, consulting agreements, customer lists, newspaper subscriber lists and mastheads. Intangible assets subject to amortization are being amortized using the straight-line method as follows:

	Years

Customer lists		15 - 23
Newspaper subscriber lists		10 - 33

We review goodwill for impairment on an annual basis by performing a qualitative and quantitative assessment. Companies with reporting units with

zero

or negative carrying value are required to disclose the amount of goodwill for those reporting units.

The Company's goodwill is all attributable to single reporting unit entity with negative carrying value. In

2019

and

2018

, the Company had

$250,309,000

and

$246,176,000

of goodwill in the Consolidated Balance Sheets, respectively. The annual assessment is made on the

first

day of our

fourth

fiscal quarter, or more frequently if impairment triggers are noted.

We review non-amortizing intangibles for impairment on an annual basis. Should we determine that a non-amortized intangible asset impairment is more likely than

not,

We analyze goodwill and other non-amortized intangible assets for impairment more frequently if impairment indicators are present. Such indicators of impairment include, but are

not

limited to, changes in business climate and operating or cash flow losses related to such assets.

The required valuation methodology and underlying financial information that are used to determine fair value require significant judgments to be made by us and represent a Level

fair value measurement. These judgments include, but are

not

We also periodically evaluate the useful lives of amortizable intangible assets. Any resulting changes in the useful lives of such intangible assets will

not

Noncontrolling Interest [Policy Text Block]

Non-controlling Interest

Non-controlling interest in earnings of TownNews is recognized in the Consolidated Financial Statements.

Revenue [Policy Text Block]

Revenue Recognition

October 1, 2018,

we adopted the New Revenue Standard, using the modified retrospective method applied to those contracts which were

not

completed as of that date. Results for reporting periods beginning after

October 1, 2018

are presented under the new guidance while prior period amounts are

not

adjusted and continue to be reported in accordance with legacy accounting under the old guidance. We did

not

record any adjustments to beginning retained earnings at

October 1, 2018

as a result of adopting the new guidance.

Recognition principles:

Advertising and marketing services revenue:

•

Print advertising revenue is recognized at the point in time the associated publication has been delivered.

•

Digital advertising revenue is recognized at the point in time that impressions are delivered.

•

Digital marketing services revenue is recognized over the period of time which the service is performed.

Advertising and marketing services contract transaction prices consist of fixed consideration. We recognize revenue when control of the related performance obligation transfers to the customer.

not

large. As a result, we have determined that our contracts do

not

include a significant financing component.

Subscription revenue:

one

year or less and result in an unearned revenue liability that is reduced when revenue is recognized.

Other revenue:

Other revenue primarily consists of digital services, Management Agreement revenue, commercial printing and delivery of

third

not

occur when the uncertainty associated with the variable consideration is subsequently resolved. Commercial printing and delivery revenue is recognized when the product is delivered to the customer.

Arrangements with multiple performance obligations:

Advertising Cost [Policy Text Block]

Advertising Costs

A substantial amount of our advertising and promotion consists of advertising placed in our own publications and digital platforms, using available space. The incremental cost of such advertising is

not

significant and is

not

measured separately by us. External advertising costs are

not

significant and are expensed as incurred.

Restructuring Costs and Other, Policy [Policy Text Block]

Restructuring Costs and Other

not

have a significant severance liability as of

September 29, 2019

September 30, 2019.

Other costs included in Restructuring Costs and Other include estimated impacts of withdrawals from our multiemployer plans. Multiemployer plans are discussed in Note

Pension and Other Postretirement Plans, Policy [Policy Text Block]

Pension, Postretirement and Postemployment Benefit Plans

715,

Retirement Plans

Income Tax, Policy [Policy Text Block]

Income Taxes

not

that some portion or all of the deferred income tax assets will

not

be realized. Deferred income tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

We recognize the effect of income tax positions only if those positions are more likely than

not

of being sustained. Recognized income tax positions are measured at the largest amount that is greater than

50%

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

We utilize FASB ASC Topic

820,

Fair Value Measurements and Disclosures

, to measure and report fair value. FASB ASC Topic

820

defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FASB ASC Topic

820

establishes a

three

-level hierarchy of fair value measurements based on whether the inputs to those measurements are observable or unobservable, which consists of the following levels:

Level

- Quoted prices for identical instruments in active markets.

Level

- Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are

not

active; and model-derived valuations in which all significant inputs are observable in active markets.

Level

- Valuations derived from valuation techniques in which

one

or more significant inputs are unobservable.

Investments measured at net asset value, as a practical expedient for fair value, are excluded from the fair value hierarchy.

Valuation methodologies used for pension and postretirement assets measured at fair value are as follows:

Cash and cash equivalents c

onsist of short term deposits valued based on quoted prices in active markets. Such investments are classified as Level

Treasury Inflation-Protected Securities

("TIPS")

consist of low yield mutual funds and are valued by quoted market prices. Such investments are classified as Level

Equity securities

are valued based on the closing market price in an active market and are classified as Level

Debt securities

consist of government securities that are valued based upon quoted market prices in an active market. Such investments are classified as Level

Corporate bonds that are valued based on quoted market prices in an inactive market are classified as Level

Hedge funds

Share-based Payment Arrangement [Policy Text Block]

Stock Compensation and Warrants

We have several active stock-based compensation plans. We account for grants under those plans under the fair value expense recognition provisions of FASB ASC Topic

718,

Compensation-Stock Compensation

. We determine the fair value of stock options using the Black-Scholes option pricing formula. Key inputs to this formula include expected term, expected volatility and the risk-free interest rate.

zero

We amortize as compensation expense the value of stock options and restricted Common Stock using the straight-line method over the vesting or restriction period, which is generally

one

four

years.

We also have

6,000,000

warrants outstanding to purchase shares of our Common Stock. Warrants are recorded at fair value determined using the Black-Scholes option pricing formula. See Notes

and

12.

Uninsured Risks [Policy Text Block]

Uninsured Risks

not

reported claims. Other risks are insured and carry deductible losses of varying amounts. Letters of credit and performance bonds totaling

$3,901,000

September 29, 2019

are outstanding in support of our insurance program.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards - Standards Adopted in

2019

March 2017,

$2,847,000,

$2,830,000

and

$3,417,000

2019,

2018

and

2017,

respectively. These amounts were previously recognized as compensation.

August 2016,

2019

and did

not

result in a change to our statement of cash flows.

May 2014,

the FASB issued ASU

No.

2014

“Revenue from Contracts with Customers” and in

2015,

2016,

and

2017

the FASB issued several clarifying updates to this new standard (ASU

No.

2015

14,

2016

08,

2016

10,

2016

11,

2016

12,

2016

and

2017

), which collectively comprises ASC Topic

606

“Revenue from Contracts with Customers”. Topic

606

supersedes the revenue recognition requirements in Topic

605

“Revenue Recognition” and is effective fiscal years beginning after

December 15, 2017.

Topic

606

provides a

five

2019

using the modified retrospective method and did

not

result in a material change to our Consolidated Financial Statements. See to Note

for disclosures as a result of this adoption.

Recently Issued Accounting Standards - Standards

Not

Yet Adopted

February 2016,

not

recognize the asset and liability for leases with a term of

twelve

not

restate prior year financial statements to conform to the new guidance. We expect to elect the package of practical expedients, which permits the Company to

not

reassess under the new standard the prior conclusions about lease identification, lease classification, or initial direct costs. In addition, we will

not

reassess whether existing land easements which were previously

not

accounted for as leases are or contain leases under the new guidance.

September 30, 2019,

the

first

day of fiscal year

2020.

We expect to recognize upon adoption, lease liabilities and right of use assets ranging from

$9,600,000

$12,600,000.

not

expect the adoption of the new standard will have a material impact on our Consolidated Statements of Income or Consolidated Statement of Cash Flows.

June 2016,

September 29, 2020

Note 1 - Significant Accounting Policies (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Inventory, Current [Table Text Block]

(Thousands of Dollars)	September 29, 2019		September 30, 2018

Newsprint - FIFO method		1,498		2,079
Newsprint - LIFO method		1,296		2,071
Other inventory - FIFO method		975		1,534
		3,769		5,684

Property, Plant and Equipment [Table Text Block]

	Years

Buildings and improvements		4 - 54
Printing presses and insertion equipment		5 - 28
Other		3 - 17

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	Years

Customer lists		15 - 23
Newspaper subscriber lists		10 - 33

Note 2 - Revenue (Tables)

12 Months Ended

Sep. 29, 2019

Disaggregation of Revenue [Table Text Block]

(Thousands of Dollars)	September 29, 2019		September 30, 2018		September 24, 2017

Advertising and marketing services revenue		265,933		303,446		331,360
Subscription Revenue		186,691		195,108		191,922
TownNews and other digital services revenue		19,637		16,328		14,008
Other revenue		37,593		29,073		29,653
Total operating revenue		509,854		543,955		566,943

Note 3 - Investments in Associated Companies (Tables)

12 Months Ended

Sep. 29, 2019

Equity Method Investments [Table Text Block]

	September 29			September 30
(Thousands of Dollars)	2019			2018

ASSETS
Current assets		3,484			3,615
Investments and other assets		1,350			—
Total assets		4,834			3,615

LIABILITIES AND MEMBERS' EQUITY
Current liabilities		5,924			5,213
Members' equity		(1,090	)		(1,598	)
Total liabilities and members' equity		4,834			3,615

(Thousands of Dollars)	2019		2018		2017

Operating revenue		43,532		47,165		48,297
Operating expenses		34,224		37,090		38,150
Net income		9,308		10,075		10,147

Company's 50% share		4,654		5,038		5,073
Less amortization of intangible assets		418		418		418
Equity in earnings of TNI		4,236		4,620		4,655

	September 29		September 30
(Thousands of Dollars)	2019		2018

ASSETS
Current assets		8,796		10,173
Investments and other assets		31,134		33,295
Total assets		39,930		43,468

LIABILITIES AND MEMBERS' EQUITY
Current liabilities		5,912		7,274
Other liabilities		6,064		7,261
Stockholders' equity		27,954		28,933
Total liabilities and stockholders' equity		39,930		43,468

(Thousands of Dollars)	2019		2018		2017

Operating revenue		56,790		59,670		61,396
Operating expenses, excluding restructuring costs, depreciation and amortization		48,121		49,598		51,392
Restructuring costs		355		383		296
Depreciation and amortization		1,018		1,149		1,295
Operating income		7,296		8,540		8,413
Net income		5,770		9,257		5,908
Equity in earnings of MNI		2,885		4,629		2,954

Note 4 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Goodwill [Table Text Block]

(Thousands of Dollars)	2019			2018

Goodwill, gross amount		1,534,905			1,535,155
Accumulated impairment losses		(1,288,729	)		(1,288,729	)
Goodwill, beginning of year		246,176			246,426
Goodwill acquired in business combinations		4,133			—
Goodwill allocated to disposed businesses		—			(250	)
Goodwill, end of year		250,309			246,176

Schedule of Intangible Assets [Table Text Block]

	September 29		September 30
(Thousands of Dollars)	2019		2018

Non-amortized intangible assets:
Mastheads		21,883		21,883
Amortizable intangible assets:
Customer and newspaper subscriber lists		697,145		692,886
Less accumulated amortization		611,786		594,950
		85,359		97,936
Non-compete and consulting agreements		28,675		28,524
Less accumulated amortization		28,524		28,524
		151		—
		107,393		119,819

Asset Impairment Charges [Table Text Block]

(Thousands of Dollars)	2019		2018		2017

Continuing operations:
Non-amortized intangible assets		—		—		2,035
Property, equipment and other assets		—		267		482
		—		267		2,517

Note 5 - Debt (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Long-term Debt Instruments [Table Text Block]

							Interest Rates (%)
	September 29			September 30			September 29
(Thousands of Dollars)	2019			2018			2019

Revolving Facility		—			—			6.13
1st Lien Term Loan		—			6,303			8.54
Notes		363,420			385,000			9.50
2nd Lien Term Loan		80,207			93,556			12.00
		443,627			484,859
Unamortized debt issue costs		(11,282	)		(17,055	)
Less current maturities of long-term debt		2,954			7,027
Total long-term debt		429,391			460,777

Debt Instrument Redemption [Table Text Block]

Period Beginning	Percentage of Principal Amount

March 15, 2019		102.38
March 15, 2020		100.00

Schedule of Debt Payments [Table Text Block]

For the Period Ending
(Thousands of Dollars)	Pulitzer Excess Cash Flow Payment		Payment Date

September 30, 2018		724	Q1 2019
December 30, 2018		1,377	Q2 2019
March 31, 2019		7,317	Q3 2019
June 30, 2019		3,931	Q4 2019

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Note 6 - Pension Plans (Tables) - Pension Plan [Member]

12 Months Ended

Sep. 29, 2019

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

(Thousands of Dollars)	2019			2018			2017

Service cost for benefits earned during the year		36			48			84
Interest cost on projected benefit obligation		6,563			5,754			5,394
Expected return on plan assets		(8,073	)		(7,933	)		(7,878	)
Amortization of net loss		1,135			2,025			2,947
Amortization of prior service benefit		(100	)		(136	)		(136	)
Net periodic pension cost (benefit)		(439	)		(242	)		411

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

(Thousands of Dollars)	2019			2018

Benefit obligation, beginning of year		176,531			191,645
Service cost		36			48
Interest cost		6,563			5,754
Actuarial loss (gain)		20,687			(9,464	)
Benefits paid		(11,448	)		(11,452	)
Benefit obligation, end of year		192,369			176,531
Fair value of plan assets, beginning of year:		151,255			149,762
Actual return on plan assets		8,705			10,576
Benefits paid		(11,448	)		(11,452	)
Administrative expenses paid		(2,163	)		(2,571	)
Employer contributions		650			4,940
Fair value of plan assets, end of year		146,999			151,255
Funded status		(45,370	)		(25,276	)

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

	September 29			September 30
(Thousands of Dollars)	2019			2018

Pension obligations		(45,370	)		(25,276	)
Accumulated other comprehensive loss (before income taxes)		(53,066	)		(31,882	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

	September 29			September 30
(Thousands of Dollars)	2019			2018

Unrecognized net actuarial loss		(53,072	)		(31,988	)
Unrecognized prior service benefit		6			106
		(53,066	)		(31,882	)

Defined Benefit Plan, Assumptions [Table Text Block]

	September 29		September 30
(Percent)	2019		2018

Discount rate		3.1		4.2

(Percent)	2019		2018		2017

Discount rate - service cost		4.2		3.7		3.5
Discount rate - interest cost		3.9		3.1		2.8
Expected long-term return on plan assets		5.5		5.5		5.5

Defined Benefit Plan, Plan Assets, Allocation [Table Text Block]

(Percent)	Policy Allocation			Actual Allocation
	September 29		September 29		September 30
Asset Class	2019		2019		2018

Equity securities		50		49		50
Debt securities		35		34		32
TIPS		5		5		4
Hedge fund investments		10		10		10
Cash and cash equivalents		—		2		4

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		2,970		—		—
Domestic equity securities		9,524		8,971		40,593		—
International equity securities		—		6,525		7,283		—
TIPS		—		6,918		—		—
Debt securities		—		26,392		24,190		—
Hedge fund investments		15,733		—		—		—

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		5,537		—		—
Domestic equity securities		10,045		12,573		40,083		—
International equity securities		—		7,070		7,560		—
TIPS		—		6,535		—		—
Debt securities		—		25,673		22,523		—
Hedge fund investments		15,767		—		—		—

Schedule of Expected Benefit Payments [Table Text Block]

(Thousands of Dollars)

2020		12,452
2021		11,770
2022		11,711
2023		11,725
2024		11,679
2025-2029		56,172

Note 7 - Postretirement and Postemployment Benefits (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Health Care Cost Trend Rates [Table Text Block]

	September 29		September 30
(Percent)	2019		2018

Health care cost trend rates		8.5		9.0
Rate to which the cost trend rate is assumed to decline (the “Ultimate Trend Rate”)		4.5		4.5
Year in which the rate reaches the Ultimate Trend Rate	2027		2026

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

	One Percentage Point
(Thousands of Dollars)	Increase		Decrease

Effect on net periodic postretirement benefit		11		(10	)
Effect on postretirement benefit obligation		425		(389	)

Other Postretirement Benefits Plan [Member]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

(Thousands of Dollars)	2019			2018			2017

Service cost for benefits earned during the year		—			—			13
Interest cost on projected benefit obligation		412			365			412
Expected return on plan assets		(1,082	)		(1,080	)		(1,056	)
Amortization of net actuarial gain		(976	)		(984	)		(987	)
Amortization of prior service benefit		(723	)		(785	)		(1,459	)
Curtailment gains		0			(2,031	)		(3,741	)
Net periodic postretirement benefit		(2,369	)		(4,515	)		(6,818	)

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

(Thousands of Dollars)	2019			2018

Benefit obligation, beginning of year		11,756			15,667
Service cost		—			—
Interest cost		412			365
Actuarial loss (gain)		1,033			(1,054	)
Benefits paid, net of premiums received		(1,507	)		(1,399	)
Curtailment		—			(1,924	)
Medicare Part D subsidies		58			101
Benefit obligation, end of year		11,752			11,756
Fair value of plan assets, beginning of year		24,647			24,626
Actual return on plan assets		2,097			2,106
Employer contributions		222			422
Benefits paid, net of premiums and Medicare Part D subsidies received		(1,449	)		(1,298	)
Benefits paid for active employees		(1,382	)		(1,209	)
Fair value of plan assets at measurement date		24,135			24,647
Funded status		12,383			12,891

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

	September 29		September 30
(Thousands of Dollars)	2019		2018

Non-current assets		12,383		12,891
Postretirement benefit obligations		—		—
Accumulated other comprehensive income (before income tax benefit)		14,818		17,917

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

	September 29		September 30
(Thousands of Dollars)	2019		2018

Unrecognized net actuarial gain		4,970		12,224
Unrecognized prior service benefit		9,848		5,693
		14,818		17,917

Defined Benefit Plan, Assumptions [Table Text Block]

	September 29		September 30
(Percent)	2019		2018

Discount rate		2.8		4.0
Expected long-term return on plan assets		4.5		4.5

(Percent)	2019		2018		2017

Discount rate - service cost		4.0		3.4		3.1
Discount rate - interest cost		3.7		2.8		2.4
Expected long-term return on plan assets		4.5		4.5		4.5

Schedule of Allocation of Plan Assets [Table Text Block]

(Percent)	Policy Allocation		Actual Allocation
			September 29		September 30
Asset Class	September 29 2019		2019		2018

Equity securities		20		18		18
Debt securities		70		68		69
Hedge fund investment		10		14		13
Cash and cash equivalents		—		—		—

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		—		—		—
Domestic equity securities		778		2,640		—		—
International equity securities		—		628		750		—
Debt securities		—		17,707		—		—
Hedge fund investment		3,587		—		—		—

(Thousands of Dollars)	NAV		Level 1		Level 2		Level 3

Cash and cash equivalents		—		242		—		—
Domestic equity securities		820		2,589		—		—
International equity securities		—		681		780		—
Debt securities		—		19,185		—		—
Hedge fund investment		3,616		—		—		—

Schedule of Expected Benefit Payments [Table Text Block]

			Less
			Medicare
	Gross		Part D			Net
(Thousands of Dollars)	Payments		Subsidy			Payments

2020		1,241		(66	)		1,175
2021		1,201		(65	)		1,136
2022		1,154		(63	)		1,091
2023		1,099		(60	)		1,039
2024		1,039		(57	)		982
2025-2029		4,185		(221	)		3964

Note 8 - Other Retirement Plans (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Multiemployer Plans [Table Text Block]

(Thousands of Dollars)

Zone Status September 30

Funding Improvement Plan/Rehabilitation Plan Status

Contributions

Expiration Dates of

Pension Plan

2019

2018

Status

2019

2018

2017

Surcharge Imposed

CBAs

GCIU- Employer Retirement Fund 91-6024903/001

Critical

Red

Implemented

107

123

3/24/2020

District No. 9, International Association of Machinists and Aerospace Workers Pension Trust 43-0736847/001

Endangered

Green

N/A

2/28/2021

Note 10 - Stock Ownership Plans (Tables)

12 Months Ended

Sep. 29, 2019

Share-based Payment Arrangement, Option, Activity [Table Text Block]

(Thousands of Shares)	2019			2018			2017

Under option, beginning of year		1,100			1,271			1,698
Exercised		(93	)		(131	)		(339	)
Canceled		(198	)		(40	)		(88	)
Under option, end of year		809			1,100			1,271
Exercisable, end of year		809			1,100			1,271

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

(Dollars)	2019		2018		2017

Exercised		2.06		1.42		1.53
Cancelled		2.08		2.49		14.02
Under option, end of year		1.82		1.88		1.86

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

(Dollars)	Options Outstanding			Options Exercisable
Range of	Number Outstanding (Thousands)	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price	Number Exercisable (Thousands)	Weighted Average Exercise Price

1 - 2	425	2.7	1.14	425	1.14
2 - 3	384	1.0	2.57	384	2.57
	809	1.9	1.82	809	1.82

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

(Thousands of Shares)	2019			2018			2017

Outstanding, beginning of year		2,059			2,478			2,462
Granted		788			587			837
Vested		(1,337	)		(936	)		(751	)
Forfeited		(33	)		(70	)		(70	)
Outstanding, end of year		1,477			2,059			2,478

(Dollars)	2019		2018		2017

Outstanding, beginning of year		2.31		2.69		2.74
Granted		2.18		2.33		3.34
Vested		2.03		3.31		3.59
Forfeited		2.13		2.85		2.98
Outstanding, end of year		2.49		2.31		2.69

Note 11 - Income Taxes (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(Thousands of Dollars)	2019			2018			2017

Current:
Federal		8,763			275			394
State		1,171			875			819
Deferred		(2,003	)		(17,378	)		10,398
		7,931			(16,228	)		11,611

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(Percent of Income (Loss) Before Income Taxes)	2019			2018			2017

Computed “expected” income tax expense (benefit)		21.0			24.7			35.0
State income tax expense (benefit), net of federal tax impact		1.3			2.6			2.3
Net income of associated companies taxed at dividend rates		(3.9	)		(5.1	)		(3.7	)
Resolution of tax matters		1.7			(8.4	)		2.2
Non-deductible expenses		3.4			2.9			1.5
Valuation allowance		10.8			9.9			2.6
Warrant valuation		(0.6	)		0.2			(10.2	)
Revaluation of deferred income taxes due to law charges		—			(79.1	)		—
Other		(0.4	)		(0.4	)		(0.8	)
		33.3			(52.7	)		28.9

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	September 29			September 30
(Thousands of Dollars)	2019			2018

Deferred income tax liabilities:
Property and equipment		(14,424	)		(16,506	)
Identified intangible assets		(15,358	)		(18,486	)
Long-term debt		(6,647	)		(11,074	)
Accrued compensation		(189	)		2,402
Investments		(3,164	)		(6,472	)
		(39,782	)		(50,136	)
Deferred income tax assets:
Allowance for doubtful accounts and losses on loans		1,279			910
Pension and postretirement benefits		4,048			2,305
Operating loss carryforwards		41,610			41,663
Accrued expenses		426			424
Other		2,526			3,075
		49,889			48,377
Valuation allowance		(39,913	)		(37,349	)
Net deferred income tax liabilities		(29,806	)		(39,108	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(Thousands of Dollars)	2019			2018

Balance, beginning of year		16,104			13,915
Increases (decreases) in tax positions for prior years		33			132
Increases in tax positions for the current year		2,472			2,567
Lapse in statute of limitations		(357	)		(510	)
Balance, end of year		18,252			16,104

Note 12 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Sep. 29, 2019

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	2019		2018		2017

Volatility (Percent)		48		31		37
Risk-free interest rate (Percent)		1.58		2.91		1.81
Expected term (Years)		2.5		3.5		4.5
Estimated fair value (Dollars)		0.20		0.30		0.26

Note 13 - Earnings Per Common Share (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

(Thousands of Dollars and Shares, Except Per Common Share Data)	2019			2018			2017

Income attributable to Lee Enterprises, Incorporated:		14,268			45,766			27,481

Weighted average Common Stock		57,648			57,009			56,481
Less non-vested restricted Common Stock		(2,083	)		(2,307	)		(2,491	)
Basic average Common Stock		55,565			54,702			53,990
Dilutive stock options and restricted Common Stock		1,319			1,246			1,402
Diluted average Common Stock		56,884			55,948			55,392
Earnings per common share:
Basic:		0.26			0.84			0.51
Diluted		0.25			0.82			0.50

Note 14 - Allowance for Doubtful Accounts (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

(Thousands of Dollars)	2019			2018			2017

Balance, beginning of year		4,806			4,796			4,327
Additions charged to expense		2,751			1,952			1,696
Deductions from reserves		(1,123	)		(1,942	)		(1,227	)
Balance, end of year		6,434			4,806			4,796

Note 15 - Other Information (Tables)

12 Months Ended

Sep. 29, 2019

Schedule of Accrued Liabilities [Table Text Block]

	September 29		September 30
(Thousands of Dollars)	2019		2018

Compensation		9,170		10,363
Retirement plans		2,637		2,673
Other		5,904		6,605
		17,711		19,641

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

(Thousands of Dollars)	2019		2018		2017

Interest		47,555		52,180		58,844
Debt financing and reorganization costs		1,773		437		373
Income tax payments, net		8,439		464		1,214

Note 17 - Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Sep. 29, 2019

Quarterly Financial Information [Table Text Block]

	Quarter Ended
(Thousands of Dollars, Except Per Common Share Data)	December		March			June		September

2019

Operating revenue		136,201		122,704			127,284		123,665

Net income		10,719		(2,327	)		6,172		1,345

Income attributable to Lee Enterprises, Incorporated		10,361		(2,678	)		5,766		819

Earnings per common share:
Basic		0.19		(0.05	)		0.10		0.01
Diluted		0.18		(0.05	)		0.10		0.01

2018

Operating revenue		143,786		127,805			132,618		139,746

Net income		35,327		2,533			4,750		4,438

Income attributable to Lee Enterprises, Incorporated		35,003		2,239			4,458		4,066

Earnings (loss) per common share:
Basic		0.64		0.04			0.08		0.07
Diluted		0.63		0.04			0.08		0.07

Note 1 - Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017	Sep. 30, 2019	Dec. 24, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total	$ (29,114,000)	$ (11,746,000)
Inventory, LIFO Reserve	1,661,000	2,333,000
Goodwill, Ending Balance	$ 250,309,000	246,176,000	$ 246,426,000
Class of Warrant or Right, Outstanding	6,000,000
Other Nonoperating Income (Expense), Total	$ 3,813,000	3,280,000	13,477,000
Retained Earnings (Accumulated Deficit), Ending Balance	(265,423,000)	(279,691,000)
Uninsured Risk [Member]
Loss Contingency Accrual, Ending Balance	$ 3,901,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Accounting Standards Update 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total					$ (3,067,000)
Retained Earnings (Accumulated Deficit), Ending Balance					$ 3,067,000
Accounting Standards Update 2017-07 [Member]
Other Nonoperating Income (Expense), Total	$ 2,847,000	$ 2,830,000	$ 3,417,000
Accounting Standards Update 2016-02 [Member] \| Minimum [Member] \| Subsequent Event [Member]
Operating Lease, Right-of-Use Asset				$ 9,600,000
Operating Lease, Liability, Total				9,600,000
Accounting Standards Update 2016-02 [Member] \| Maximum [Member] \| Subsequent Event [Member]
Operating Lease, Right-of-Use Asset				12,600,000
Operating Lease, Liability, Total				$ 12,600,000
TNI Partners [Member]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%
MNI [Member]
Noncontrolling Interest, Ownership Percentage by Parent	50.00%
INN Partners, L.C. [Member]
Noncontrolling Interest, Ownership Percentage by Parent	82.50%

Note 1 - Significant Accounting Policies - Components of Inventory (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
LIFO inventory	$ 1,296	$ 2,071
Inventories	3,769	5,684
Newsprint [Member]
FIFO inventory	1,498	2,079
Other Inventory [Member]
FIFO inventory	$ 975	$ 1,534

Note 1 - Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Sep. 29, 2019
Building Improvements [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	4 years
Building Improvements [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	54 years
Printing Press and Insertion Equipment [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	5 years
Printing Press and Insertion Equipment [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	28 years
Property, Plant and Equipment, Other Types [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	3 years
Property, Plant and Equipment, Other Types [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	17 years

Note 1 - Significant Accounting Policies - Intangible Assets Amortization Period (Details)	12 Months Ended
	Sep. 29, 2019
Minimum [Member] \| Customer Lists [Member]
Intangible Assets, useful life (Year)	15 years
Minimum [Member] \| Newspaper Subscriber Lists [Member]
Intangible Assets, useful life (Year)	10 years
Maximum [Member] \| Customer Lists [Member]
Intangible Assets, useful life (Year)	23 years
Maximum [Member] \| Newspaper Subscriber Lists [Member]
Intangible Assets, useful life (Year)	33 years

Note 2 - Revenue (Details Textual) - USD ($)	12 Months Ended
Note 2 - Revenue (Details Textual) - USD ($)	Sep. 30, 2018	Sep. 29, 2019	Sep. 24, 2017	Sep. 25, 2016
Contract with Customer, Liability, Current	$ 23,895,000	$ 21,720,000
Contract with Customer, Liability, Revenue Recognized	23,130,000
Contract with Customer, Asset, Net, Current, Total	0	1,107,000
Accounts Receivable, before Allowance for Credit Loss	48,517,000	47,863,000
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 4,806,000	$ 6,434,000	$ 4,796,000	$ 4,327,000

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 24, 2018	Mar. 25, 2018	Dec. 24, 2017	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Operating revenue	$ 123,665	$ 127,284	$ 122,704	$ 136,201	$ 139,746	$ 132,618	$ 127,805	$ 143,786	$ 509,854	$ 543,955	$ 566,943
Advertising and Marketing Services [Member]
Operating revenue									265,933	303,446	331,360
Subscription and Circulation [Member]
Operating revenue									186,691	195,108	191,922
Digital Services Revenues [Member]
Operating revenue									19,637	16,328	14,008
Other Revenues [Member]
Operating revenue									$ 37,593	$ 29,073	$ 29,653

Note 3 - Investments in Associated Companies (Details Textual) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Equity Method Investments	$ 28,742,000	$ 29,216,000
Goodwill, Ending Balance	$ 250,309,000	246,176,000	$ 246,426,000
TNI Partners [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	50.00%
MNI [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	50.00%
TNI Partners [Member]
Proceeds from Equity Method Investment, Distribution	$ 4,245,000	5,814,000	4,644,000
Equity Method Investments	14,741,000
Goodwill, Ending Balance	12,366,000
Other Intangible Assets, Net	3,299,000
MNI [Member]
Proceeds from Equity Method Investment, Distribution	3,350,000	3,400,000	3,500,000
Equity Method Investments	14,001,000
Editorial Service Fees	$ 6,636,000	$ 6,718,000	$ 7,021,000

Note 3 - Investments in Associated Companies - Summarized Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Equity in earnings	$ 7,121	$ 9,249	$ 7,609
TNI Partners [Member]
Current assets	3,484	3,615
Investments and other assets	1,350
Total assets	4,834	3,615
Current liabilities	5,924	5,213
Members' equity	(1,090)	(1,598)
Total liabilities and members' equity	4,834	3,615
Operating revenue	43,532	47,165	48,297
Operating expenses	34,224	37,090	38,150
Net income	9,308	10,075	10,147
Company's 50% share	4,654	5,038	5,073
Less amortization of intangible assets	418	418	418
Equity in earnings	4,236	4,620	4,655
MNI [Member]
Current assets	8,796	10,173
Investments and other assets	31,134	33,295
Total assets	39,930	43,468
Current liabilities	5,912	7,274
Members' equity	27,954	28,933
Total liabilities and members' equity	39,930	43,468
Operating revenue	56,790	59,670	61,396
Operating expenses	48,121	49,598	51,392
Net income	5,770	9,257	5,908
Equity in earnings	2,885	4,629	2,954
Other liabilities	6,064	7,261
Restructuring costs	355	383	296
Depreciation and amortization	1,018	1,149	1,295
Operating income	$ 7,296	$ 8,540	$ 8,413

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2019	Sep. 29, 2019	Sep. 30, 2018
Goodwill, Acquired During Period	$ 3,433,000	$ 4,133,000
Finite-lived Intangible Assets Acquired	$ 3,650,000
Finite-Lived Intangible Assets, Remaining Amortization Period	10 years
Finite-Lived Intangible Assets, Amortization Expense, Next Rolling Twelve Months		16,016,000
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Two		14,853,000
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Three		12,673,000
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Four		12,052,000
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five		$ 10,325,000

Note 4 - Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2019	Sep. 29, 2019	Sep. 30, 2018
Goodwill, gross amount		$ 1,534,905,000	$ 1,535,155,000
Accumulated impairment losses		(1,288,729,000)	(1,288,729,000)
Goodwill		246,176,000	246,426,000
Goodwill acquired in business combinations	$ 3,433,000	4,133,000
Goodwill allocated to disposed businesses			(250,000)
Goodwill		$ 250,309,000	$ 246,176,000

Note 4 - Goodwill and Other Intangible Assets - Identified Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Mastheads	$ 21,883	$ 21,883
	107,393	119,819
Customer Lists [Member]
Amortizable intangible assets, gross	697,145	692,886
Less accumulated amortization	611,786	594,950
Amortizable intangible assets, net	85,359	97,936
Noncompete Agreements [Member]
Amortizable intangible assets, gross	28,675	28,524
Less accumulated amortization	28,524	28,524
Amortizable intangible assets, net	$ 151

Note 4 - Goodwill and Other Intangible Assets - Pretax Impairment Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Non-amortized intangible assets			$ 2,035
Property, equipment and other assets		267	482
		$ 267	$ 2,517

Note 5 - Debt (Details Textual) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
Note 5 - Debt (Details Textual) - USD ($)	Mar. 31, 2014	Sep. 29, 2019	Jun. 30, 2019	Sep. 24, 2023	Sep. 25, 2022	Sep. 26, 2021	Sep. 27, 2020	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017	Jul. 31, 2019
Weighted Average Cost of Debt, Excluding Amortization of Debt Financing Costs		10.00%						10.00%
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months		$ 2,954,000						$ 2,954,000
Long-term Debt, Maturities, Repayments of Principal in Year Two		0						0
Long-term Debt, Maturities, Repayments of Principal in Year Three		363,420,000						363,420,000
Long-term Debt, Maturities, Repayments of Principal in Year Four		77,253,000						77,253,000
Long-term Debt, Gross		443,627,000						443,627,000	$ 484,859,000
Long-term Debt, Total		429,391,000						429,391,000	460,777,000
Repayments of Long-term Debt, Total								41,832,000	73,526,000	$ 73,782,000
Amortization of Debt Issuance Costs								5,773,103	4,769,000	$ 4,447,000
Debt Issuance Costs, Net, Total		11,282,000						11,282,000	17,055,000
Line of Credit Facility, Remaining Borrowing Capacity		17,644,000						17,644,000
Liquidity		26,289,000						26,289,000
Future Liquidity Warrant Exercise Proceeds								25,140,000
Debt Financing Costs that Should Have Been Recorded in Prior Periods [Member]
Increase in Debt Financing and Other Costs			$ 1,309,000
Increase (Decrease) in Long-term Debt, Unamortized Debt Financing Costs			$ 1,309,000
Forecast [Member]
Amortization of Debt Issuance Costs				$ 227,000	$ 2,675,000	$ 4,275,000	$ 4,105,000
Warrants Issued in Connection with Second Lien Term Loan [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	6,000,000
Warrants, When Fully Exercised, Percentage of Common Stock Outstanding	10.10%
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4.19
Warrants and Rights Outstanding	$ 16,930,000
Senior Secured Notes [Member]
Debt Instrument, Face Amount	$ 400,000,000	$ 363,420,000						$ 363,420,000
Debt Instrument, Interest Rate, Stated Percentage	9.50%	9.50%						9.50%
Long-term Debt, Gross		$ 363,420,000						$ 363,420,000	385,000,000
Repurchase Price of Notes, Change of Control		101.00%						101.00%
Debt Instrument, Repurchased Face Amount		$ 21,580,000						$ 21,580,000
Gain (Loss) on Extinguishment of Debt, Total								$ 333,000
Debt Issuance Costs, Gross	$ 37,819,000
First Lien Credit Faclinty [Member] \| Term Loan [Member]
Debt Instrument, Face Amount	250,000,000
First Lien Credit Faclinty [Member] \| Term Loan [Member] \| Federal Funds Rate Plus 0.5% [Member]
Debt Instrument, Basis Spread on Variable Rate								4.50%
First Lien Credit Facility [Member]
Debt Instrument, Interest Rate, Stated Percentage		6.13%						6.13%
Long-term Debt, Gross
First Lien Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument, Face Amount											$ 23,120,000
Line of Credit Facility, Maximum Borrowing Capacity	40,000,000
Long-term Line of Credit, Total		0						0
Line of Credit Facility, Current Borrowing Capacity		17,644,000						$ 17,644,000
First Lien Credit Facility [Member] \| Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate								5.50%
First Lien Credit Facility [Member] \| Revolving Credit Facility [Member] \| Federal Funds Rate Plus 0.5% [Member]
Debt Instrument, Basis Spread on Variable Rate								4.50%
First Lien Credit Facility [Member] \| Term Loan [Member] \| Federal Funds Rate Plus 0.5% [Member]
Debt Instrument, Basis Spread on Variable Rate								5.25%
First Lien Credit Facility [Member] \| Term Loan [Member] \| Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate								4.19%
First Lien Credit Facility [Member] \| Term Loan [Member] \| One Month LIBOR Plus 1.0% [Member]
Debt Instrument, Basis Spread on Variable Rate								5.25%
Second Lien Credit Faclity [Member]
Repayments of Long-term Debt, Total		$ 3,931,000						$ 13,349,000
Pulitzer Excess Cash Flow								$ 2,954,000
Second Lien Credit Faclity [Member] \| Term Loan [Member]
Debt Instrument, Face Amount	$ 150,000,000
Debt Instrument, Interest Rate, Stated Percentage		12.00%						12.00%
Long-term Debt, Total		$ 80,207,000						$ 80,207,000
Repayments of Long-term Debt, Total								$ 0	$ 4,000,000

Note 5 - Debt - Debt (Details) - USD ($)	Sep. 29, 2019	Sep. 30, 2018	Mar. 31, 2014
Long-term debt, gross	$ 443,627,000	$ 484,859,000
Unamortized debt issue costs	(11,282,000)	(17,055,000)
Less current maturities of long-term debt	2,954,000	7,027,000
Total long-term debt	429,391,000	460,777,000
First Lien Credit Facility [Member]
Long-term debt, gross
Interest rate	6.13%
First Lien Term Loan [Member]
Long-term debt, gross		6,303,000
Interest rate	8.54%
Senior Secured Notes [Member]
Long-term debt, gross	$ 363,420,000	385,000,000
Interest rate	9.50%		9.50%
Second Lien Term Loan [Member]
Long-term debt, gross	$ 80,207,000	$ 93,556,000
Interest rate	12.00%

Note 5 - Debt - Payments (Details) - USD ($) $ in Thousands	3 Months Ended
Note 5 - Debt - Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 24, 2018	Mar. 25, 2018	Dec. 24, 2017
Second Lien Term Loan [Member]
September 30, 2018	$ 3,931	$ 7,317	$ 1,377	$ 724

Note 6 - Pension Plans (Details Textual) - USD ($)	12 Months Ended
Note 6 - Pension Plans (Details Textual) - USD ($)	Sep. 27, 2020	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Pension Plan [Member]
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year		$ (3,166,000)
Defined Benefit Plan, Accumulated Benefit Obligation		192,369,000	$ 176,531,000
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation		192,369,000
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation		192,369,000
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets		$ 146,999,000
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets		5.50%	5.50%	5.50%
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		$ 6,718,000
Liability, Defined Benefit Plan, Noncurrent, Total		45,370,000	$ 25,276,000
Defined Benefit Plan, Expected Amortization of Prior Service Cost (Credit), Next Fiscal Year		(6,000)
Pension Plan [Member] \| U.S. Small Cap Value Equity Common/Collective Fund [Member]
Equity Securities, FV-NI		9,524,000	10,045,000
Pension Plan [Member] \| Global Equity Long/Short Common/Collective Hedge Fund-of-funds 2 [Member]
Equity Securities, FV-NI		7,810,000	7,651,000
Pension Plan [Member] \| Global Equity Long/Short Common/Collective Hedge Fund-of-funds [Member]
Equity Securities, FV-NI		7,923,000	8,116,000
Pension Plan [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase		0	0
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale		0	0
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Assets Transferred into (out of) Level 3		0	0
Pension Plan [Member] \| Forecast [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	5.50%
Other Pension Plan [Member]
Liability, Defined Benefit Plan, Noncurrent, Total		$ 1,667,000	$ 1,469,000

Note 6 - Pension Plans - Net Periodic Cost (Benefit) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Service cost for benefits earned during the year	$ 36	$ 48	$ 84
Interest cost on projected benefit obligation	6,563	5,754	5,394
Expected return on plan assets	(8,073)	(7,933)	(7,878)
Amortization of net loss	1,135	2,025	2,947
Amortization of prior service benefit	(100)	(136)	(136)
Net periodic pension cost (benefit)	$ (439)	$ (242)	$ 411

Note 6 - Pension Plans - Benefit Obligations and Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Benefit obligation, beginning of year	$ 176,531	$ 191,645
Service cost	36	48	$ 84
Interest cost	6,563	5,754	5,394
Actuarial loss (gain)	20,687	(9,464)
Benefits paid	(11,448)	(11,452)
Benefit obligation, end of year	192,369	176,531	191,645
Fair value of plan assets, beginning of year:	151,255	149,762
Actual return on plan assets	8,705	10,576
Benefits paid	(11,448)	(11,452)
Administrative expenses paid	(2,163)	(2,571)
Employer contributions	650	4,940
Fair value of plan assets, end of year	146,999	151,255	$ 149,762
Funded status	$ (45,370)	$ (25,276)

Note 6 - Pension Plans - Amounts Recognized in the Consolidated Balance Sheets (Details) - Pension Plan [Member] - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Pension obligations	$ 45,370	$ 25,276
Accumulated other comprehensive loss (before income taxes)	$ (53,066)	$ (31,882)

Note 6 - Pension Plans - Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Unrecognized net actuarial loss	$ (53,072)	$ (31,988)
Unrecognized prior service benefit	6	106
	$ (53,066)	$ (31,882)

Note 6 - Pension Plans - Assumptions (Details) - Pension Plan [Member]	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Discount rate	3.10%	4.20%
Discount rate - service cost	4.20%	3.70%	3.50%
Discount rate - interest cost	3.90%	3.10%	2.80%
Expected long-term return on plan assets	5.50%	5.50%	5.50%

Note 6 - Pension Plans - Allocation of Pension Assets (Details) - Pension Plan [Member]	Sep. 29, 2019	Sep. 30, 2018
Defined Benefit Plan, Equity Securities [Member]
Asset Percentage, Policy Allocation	50.00%
Asset Percentage, Actual Allocation	49.00%	50.00%
Defined Benefit Plan, Debt Security [Member]
Asset Percentage, Policy Allocation	35.00%
Asset Percentage, Actual Allocation	34.00%	32.00%
TIPS [Member]
Asset Percentage, Policy Allocation	5.00%
Asset Percentage, Actual Allocation	5.00%	4.00%
Hedge Funds [Member]
Asset Percentage, Policy Allocation	10.00%
Asset Percentage, Actual Allocation	10.00%	10.00%
Defined Benefit Plan, Cash and Cash Equivalents [Member]
Asset Percentage, Policy Allocation
Asset Percentage, Actual Allocation	2.00%	4.00%

Note 6 - Pension Plans - Fair Value Hierarchy of Benefit Plan Assets (Details) - Pension Plan [Member] - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Fair Value Measured at Net Asset Value Per Share [Member]
Cash and cash equivalents
Debt securities
Hedge fund investments	15,733	15,767
Fair Value Measured at Net Asset Value Per Share [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI	9,524	10,045
Fair Value Measured at Net Asset Value Per Share [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI
Fair Value Measured at Net Asset Value Per Share [Member] \| US Treasury Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	2,970	5,537
Debt securities	26,392	25,673
Hedge fund investments
Fair Value, Inputs, Level 1 [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI	8,971	12,573
Fair Value, Inputs, Level 1 [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI	6,525	7,070
Fair Value, Inputs, Level 1 [Member] \| US Treasury Securities [Member]
Equity Securities, FV-NI	6,918	6,535
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Debt securities	24,190	22,523
Hedge fund investments
Fair Value, Inputs, Level 2 [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI	40,593	40,083
Fair Value, Inputs, Level 2 [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI	7,283	7,560
Fair Value, Inputs, Level 2 [Member] \| US Treasury Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Debt securities
Hedge fund investments
Fair Value, Inputs, Level 3 [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 3 [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 3 [Member] \| US Treasury Securities [Member]
Equity Securities, FV-NI

Note 6 - Pension Plans - Future Benefit Payments (Details) - Pension Plan [Member] $ in Thousands	Sep. 29, 2019 USD ($)
2020	$ 12,452
2021	11,770
2022	11,711
2023	11,725
2024	11,679
2025-2029	$ 56,172

Note 7 - Postretirement and Postemployment Benefits (Details Textual) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Assets for Plan Benefits, Defined Benefit Plan	$ 14,338,000	$ 16,157,000
Postretirement Health Coverage [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	2,031,000	3,741,000
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment	(7,036,000)	(7,036,000)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	(106,000)	(1,417,000)
Assets for Plan Benefits, Defined Benefit Plan	1,955,000	$ 3,266,000
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year	743,000
Defined Benefit Plan, Expected Amortization of Prior Service Cost (Credit), Next Fiscal Year	$ 647,000
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.50%	4.50%	4.50%
Assets for Plan Benefits, Defined Benefit Plan	$ 12,383,000	$ 12,891,000
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	0
Defined Benefit Plan, Benefit Obligation, Ending Balance	11,752,000	11,756,000	$ 15,667,000
Other Postretirement Benefits Plan [Member] \| U.S. Small Cap Value Equity Common/Collective Fund [Member]
Equity Securities, FV-NI	778,000	820,000
Other Postretirement Benefits Plan [Member] \| Global Equity Long/Short Common/Collective Hedge Fund-of-funds [Member]
Equity Securities, FV-NI	3,587,000	3,616,000
Other Postretirement Benefits Plan [Member] \| Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Assets Transferred into (out of) Level 3	0	0
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase	0	0
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale	0	0
Postemployment Retirement Benefits [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	2,031,000	$ 3,741,000
Defined Benefit Plan, Benefit Obligation, Ending Balance	$ 2,550,000	$ 2,580,000

Note 7 - Postretirement and Postemployment Benefits - Net Period Postretirement Cost (Benefit) Components for Postretirement Plans (Details) - Postemployment Retirement Benefits [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Service cost for benefits earned during the year			$ 13
Interest cost on projected benefit obligation	412	365	412
Expected return on plan assets	(1,082)	(1,080)	(1,056)
Amortization of net loss	(976)	(984)	(987)
Amortization of prior service benefit	(723)	(785)	(1,459)
Curtailment gains	0	(2,031)	(3,741)
Net periodic pension cost (benefit)	$ (2,369)	$ (4,515)	$ (6,818)

Note 7 - Postretirement and Postemployment Benefits - Benefit Obligations and Plan Assets (Details) - Other Postretirement Benefits Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Benefit obligation, beginning of year	$ 11,756	$ 15,667
Service cost
Interest cost	412	365
Actuarial loss (gain)	1,033	(1,054)
Benefits paid, net of premiums received	(1,507)	(1,399)
Curtailment		(1,924)
Medicare Part D subsidies	58	101
Benefit obligation, end of year	11,752	11,756
Fair value of plan assets, beginning of year:	24,647	24,626
Actual return on plan assets	2,097	2,106
Employer contributions	222	422
Benefits paid, net of premiums and Medicare Part D subsidies received	(1,449)	(1,298)
Benefits paid for active employees	(1,382)	(1,209)
Fair value of plan assets, end of year	24,135	24,647
Funded status	$ 12,383	$ 12,891

Note 7 - Postretirement and Postemployment Benefits - Amounts Recognized in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Assets for Plan Benefits, Defined Benefit Plan	$ 14,338	$ 16,157
Other Postretirement Benefits Plan [Member]
Assets for Plan Benefits, Defined Benefit Plan	12,383	12,891
Postretirement benefit obligations
Accumulated other comprehensive income (before income tax benefit)	$ 14,818	$ 17,917

Note 7 - Postretirement and Postemployment Benefits - Amounts Recognized in Accumulated Other Comprehensive Income (Loss) (Details) - Other Postretirement Benefits Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Unrecognized net actuarial gain	$ 4,970	$ 12,224
Unrecognized prior service benefit	9,848	5,693
	$ 14,818	$ 17,917

Note 7 - Postretirement and Postemployment Benefits - Assumptions (Details) - Other Postretirement Benefits Plan [Member]	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Discount rate	2.80%	4.00%
Expected long-term return on plan assets	4.50%	4.50%
Discount rate - service cost	4.00%	3.40%	3.10%
Discount rate - interest cost	3.70%	2.80%	2.40%
Expected long-term return on plan assets	4.50%	4.50%	4.50%

Note 7 - Postretirement and Postemployment Benefits - Assumed Health Care Cost Trend Rates (Details) - Other Postretirement Benefits Plan [Member]	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Health care cost trend rates	8.50%	9.00%
Rate to which the cost trend rate is assumed to decline (the “Ultimate Trend Rate”)	4.50%	4.50%
Year in which the rate reaches the Ultimate Trend Rate	2027	2026

Note 7 - Postretirement and Postemployment Benefits - Effect if One Percentage Point Change in Assumed Heath Care Cost Trend Rates (Details) - Other Postretirement Benefits Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Effect on net periodic postretirement benefit, increase	$ 11
Effect on net periodic postretirement benefit, decrease		$ (10)
Effect on postretirement benefit obligation, increase	$ 425
Effect on postretirement benefit obligation, decrease		$ (389)

Note 7 - Postretirement and Postemployment Benefits - Allocation of Benefit Plan Assets (Details) - Other Postretirement Benefits Plan [Member]	Sep. 29, 2019	Sep. 30, 2018
Defined Benefit Plan, Equity Securities [Member]
Asset Percentage, Policy Allocation	20.00%
Asset Percentage, Actual Allocation	18.00%	18.00%
Defined Benefit Plan, Debt Security [Member]
Asset Percentage, Policy Allocation	70.00%
Asset Percentage, Actual Allocation	68.00%	69.00%
Hedge Funds [Member]
Asset Percentage, Policy Allocation	10.00%
Asset Percentage, Actual Allocation	14.00%	13.00%
Defined Benefit Plan, Cash and Cash Equivalents [Member]
Asset Percentage, Policy Allocation
Asset Percentage, Actual Allocation

Note 7 - Postretirement and Postemployment Benefits - Fair Value Hierarchy of Benefit Plan Assets (Details) - Other Postretirement Benefits Plan [Member] - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Cash and cash equivalents
Debt securities
Hedge fund investments	3,587	3,616
Domestic Equity Securities [Member]
Equity Securities, FV-NI	778	820
Foreign Equity Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents		242
Debt securities	17,707	19,185
Hedge fund investments
Fair Value, Inputs, Level 1 [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI	2,640	2,589
Fair Value, Inputs, Level 1 [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI	628	681
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Debt securities
Hedge fund investments
Fair Value, Inputs, Level 2 [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 2 [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI	750	780
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Debt securities
Hedge fund investments
Fair Value, Inputs, Level 3 [Member] \| Domestic Equity Securities [Member]
Equity Securities, FV-NI
Fair Value, Inputs, Level 3 [Member] \| Foreign Equity Securities [Member]
Equity Securities, FV-NI

Note 7 - Postretirement and Postemployment Benefits - Future Benefit Payments (Details) - Other Postretirement Benefits Plan [Member] $ in Thousands	Sep. 29, 2019 USD ($)
2020, gross payments	$ 1,241
2020, subsidy	(66)
2020, net payments	1,175
2021, gross payments	1,201
2021, subsidy	(65)
2021, net payments	1,136
2022, gross payments	1,154
2022, subsidy	(63)
2022, net payments	1,091
2023, gross payments	1,099
2023, subsidy	(60)
2023, net payments	1,039
2024, gross payments	1,039
2024, subsidy	(57)
2024, net payments	982
2025-2029, gross payments	4,185
2025-2029, subsidy	(221)
2025-2029, net payments	$ 3,964

Note 8 - Other Retirement Plans (Details Textual) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Employee Benefits and Share-based Compensation	$ 3,849,000	$ 4,430,000	$ 4,396,000
GCIU- Employer Retirement Fund [Member]
Multiemployer Plans, Withdrawal Obligation	3,181,000		$ 2,600,000
CWA/ITU Negotiated Pension Plan [Member]
Multiemployer Plans, Withdrawal Obligation	$ 3,255,000

Note 8 - Other Retirement Plans - Other Retirement Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Pension contributions	$ 650	$ 4,990
GCIU- Employer Retirement Fund [Member]
Pension contributions	98	107	123
District No. 9 Pension Trust [Member]
Pension contributions	$ 30	$ 29	$ 31

Note 9 - Common Stock and Class B Common Stock (Details Textual) - $ / shares	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Mar. 30, 2018	Mar. 30, 2017	Jun. 29, 2012	Mar. 31, 2011
Common Stock, Par or Stated Value Per Share	$ 0.01				$ 2
Class of Warrant or Right, Outstanding	6,000,000
Common Class B [Member]
Common Stock, Par or Stated Value Per Share	$ 2	$ 2
Common Stock, Shares, Outstanding, Ending Balance						5,600,000
Warrant Agreement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				6,000,000
Class of Warrant or Right, Percentage of Common Stock Outstanding				10.10%
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 4.19
Class of Warrant or Right, Outstanding	1,195,000		16,930,000
Second Lien Term Loan [Member]
Stock Issued During Period, Shares, New Issues	6,743,640
Percentage of Outstanding Shares, Pro Forma Basis	13.00%

Note 10 - Stock Ownership Plans (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Share-based Payment Arrangement, Expense		$ 1,638,000	$ 1,857,000	$ 2,088,000
Common Stock, Capital Shares Reserved for Future Issuance		2,805,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 179,000
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		10 years
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 0
Restricted Stock [Member]
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 1,350,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		1 year 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		788,000	587,000	837,000
Restricted Stock [Member] \| Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	724,300
Employee Stock Purchase Plan [Member]
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total		270,000
Supplemental Employee Stock Purchase Plan [Member]
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total		8,700

Note 10 - Stock Ownership Plans - Stock Option Activities (Details) - shares shares in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Under option, balance (in shares)	1,100	1,271	1,698
Exercised (in shares)	(93)	(131)	(339)
Canceled (in shares)	(198)	(40)	(88)
Under option, balance (in shares)	809	1,100	1,271
Exercisable, end of year (in shares)	809	1,100	1,271

Note 10 - Stock Ownership Plans - Weighted Average Prices of Stock Options (Details) - $ / shares	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Exercised (in dollars per share)	$ 2.06	$ 1.42	$ 1.53
Cancelled (in dollars per share)	2.08	2.49	14.02
Under option, end of year (in dollars per share)	$ 1.82	$ 1.88	$ 1.86

Note 10 - Stock Ownership Plans - Summary of Stock Options Outstanding (Details)	12 Months Ended
	Sep. 29, 2019 $ / shares shares
Number outstanding (in shares) \| shares	809
Weighted Average Remaining Contractual Life (Year)	1 year 328 days
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 1.82
Number Exercisable (in shares) \| shares	809
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 1.82
Exercise Price Range 1 [Member]
Range of exercise prices, lower limit (in dollars per share)	1
Range of exercise prices, upper limit (in dollars per share)	$ 2
Number outstanding (in shares) \| shares	425
Weighted Average Remaining Contractual Life (Year)	2 years 255 days
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 1.14
Number Exercisable (in shares) \| shares	425
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 1.14
Exercise Price Range 2 [Member]
Range of exercise prices, lower limit (in dollars per share)	2
Range of exercise prices, upper limit (in dollars per share)	$ 3
Number outstanding (in shares) \| shares	384
Weighted Average Remaining Contractual Life (Year)	1 year
Weighted Average Exercise Price, Outstanding (in dollars per share)	$ 2.57
Number Exercisable (in shares) \| shares	384
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 2.57

Note 10 - Stock Ownership Plans - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares shares in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Outstanding, shares (in shares)	2,059	2,478	2,462
Granted, shares (in shares)	788	587	837
Vested, shares (in shares)	(1,337)	(936)	(751)
Forfeited, shares (in shares)	(33)	(70)	(70)
Outstanding, shares (in shares)	1,477	2,059	2,478
Outstanding, weighted average grant date fair value (in dollars per share)	$ 2.31	$ 2.69	$ 2.74
Granted, weighted average grant date fair value (in dollars per share)	2.18	2.33	3.34
Vested, weighted average grant date fair value (in dollars per share)	2.03	3.31	3.59
Forfeited, weighted average grant date fair value (in dollars per share)	2.13	2.85	2.98
Outstanding, weighted average grant date fair value (in dollars per share)	$ 2.49	$ 2.31	$ 2.69

Note 11 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
Note 11 - Income Taxes (Details Textual) - USD ($)	Dec. 24, 2017	Sep. 29, 2019	Sep. 30, 2018
Tax Cuts and Jobs Act, Change in Tax Rate, Income Tax Expense (Benefit), Total	$ (24,872,000)
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 14,019,000
Unrecognized Tax Benefits, Interest on Income Taxes Accrued		848,000	$ 563,000
Deferred Tax Asset, Interest Carryforward		4,255,000
Deferred Tax Assets, Operating Loss Carryforwards, Total		41,610,000	41,663,000
State and Local Jurisdiction [Member]
Unrecognized Tax Benefits Related to Net Operating Loss		10,665,000	$ 10,312,000
Operating Loss Carryforwards, Total		63,338,000
Deferred Tax Assets, Operating Loss Carryforwards, Total		50,037,000
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total		$ 0

Note 11 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Federal	$ 8,763	$ 275	$ 394
State	1,171	875	819
Deferred	(2,003)	(17,378)	10,398
	$ 7,931	$ (16,228)	$ 11,611

Note 11 - Income Taxes - Income Tax Expense (Benefit) Related to Continuing Operations (Details)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Computed “expected” income tax expense (benefit)	21.00%	24.70%	35.00%
State income tax expense (benefit), net of federal tax impact	1.30%	2.60%	2.30%
Net income of associated companies taxed at dividend rates	(3.90%)	(5.10%)	(3.70%)
Resolution of tax matters	1.70%	(8.40%)	2.20%
Non-deductible expenses	3.40%	2.90%	1.50%
Valuation allowance	10.80%	9.90%	2.60%
Warrant valuation	(0.60%)	0.20%	(10.20%)
Revaluation of deferred income taxes due to law charges		(79.10%)
Other	(0.40%)	(0.40%)	(0.80%)
	33.30%	(52.70%)	28.90%

Note 11 - Income Taxes - Deferred Income Tax Liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Property and equipment	$ (14,424)	$ (16,506)
Identified intangible assets	(15,358)	(18,486)
Long-term debt	(6,647)	(11,074)
Accrued compensation	(189)
Accrued compensation		2,402
Investments	(3,164)	(6,472)
	(39,782)	(50,136)
Allowance for doubtful accounts and losses on loans	1,279	910
Pension and postretirement benefits	4,048	2,305
Operating loss carryforwards	41,610	41,663
Accrued expenses	426	424
Other	2,526	3,075
	49,889	48,377
Valuation allowance	(39,913)	(37,349)
Net deferred income tax liabilities	$ (29,806)	$ (39,108)

Note 11 - Income Taxes - Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018
Unrecognized tax benefits, balance	$ 16,104	$ 13,915
Increases (decreases) in tax positions for prior years	33	132
Increases in tax positions for the current year	2,472	2,567
Lapse in statute of limitations	(357)	(510)
Unrecognized tax benefits, balance	$ 18,252	$ 16,104

Note 12 - Fair Value of Financial Instruments (Details Textual) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017	Mar. 31, 2014
Fair Value Adjustment of Warrants	$ (612,000)	$ 226,000	$ (10,181,000)
Senior Secured Notes [Member]
Debt Instrument, Face Amount	363,420,000			$ 400,000,000
2st Lien Agreement [Member]
Debt Instrument, Face Amount	$ 80,207,000
TCT [Member]
Equity Securities Without Readily Determinable Fair Value, Ownership Percentage of Voting Common Stock	0.70%
Ownership Percentage of Total Common Stock	8.70%
Fair Value, Inputs, Level 3 [Member]
Investments, Fair Value Disclosure, Total	$ 6,068,000
Equity Securities without Readily Determinable Fair Value, Amount	$ 10,269,000
Fair Value, Inputs, Level 3 [Member] \| TCT and Private Equity Investment [Member]
Equity Securities without Readily Determinable Fair Value, Percent	16.70%
Fair Value, Inputs, Level 2 [Member]
Warrants and Rights Outstanding	$ 1,195,000	$ 1,807,000	$ 1,580,000	$ 16,930,000
Fair Value, Inputs, Level 2 [Member] \| Senior Secured Notes [Member]
Long-term Debt, Fair Value	364,328,550
Fair Value, Inputs, Level 2 [Member] \| Second Lien Term Loan [Member]
Long-term Debt, Fair Value	$ 80,207,214

Note 12 - Fair Value of Financial Instruments - Estimate Fair Value of Financial Instruments (Details)	Sep. 29, 2019 $ / shares yr	Sep. 30, 2018 $ / shares yr	Sep. 24, 2017 $ / shares yr
Measurement Input, Price Volatility [Member]
Warrant and rights, measurement input	0.48	0.31	0.37
Measurement Input, Risk Free Interest Rate [Member]
Warrant and rights, measurement input	0.0158	0.0291	0.0181
Measurement Input, Expected Term [Member]
Warrant and rights, measurement input \| yr	2.5	3.5	4.5
Measurement Input, Share Price [Member]
Warrant and rights, measurement input \| $ / shares	0.2	0.3	0.26

Note 13 - Earnings Per Common Share (Details Textual) - shares	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,384,000	7,206,000	7,577,000

Note 13 - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 24, 2018	Mar. 25, 2018	Dec. 24, 2017	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Income attributable to Lee Enterprises, Incorporated:	$ 819	$ 5,766	$ (2,678)	$ 10,361	$ 4,066	$ 4,458	$ 2,239	$ 35,003	$ 14,268	$ 45,766	$ 27,481
Weighted average Common Stock (in shares)									57,648	57,009	56,481
Less non-vested restricted Common Stock (in shares)									(2,083)	(2,307)	(2,491)
Basic average Common Stock (in shares)									55,565	54,702	53,990
Dilutive stock options and restricted Common Stock (in shares)									1,319	1,246	1,402
Diluted average Common Stock (in shares)									56,884	55,948	55,392
Basic: (in dollars per share)	$ 0.01	$ 0.10	$ (0.05)	$ 0.19	$ 0.07	$ 0.08	$ 0.04	$ 0.64	$ 0.26	$ 0.84	$ 0.51
Diluted: (in dollars per share)	$ 0.01	$ 0.10	$ (0.05)	$ 0.18	$ 0.07	$ 0.08	$ 0.04	$ 0.63	$ 0.25	$ 0.82	$ 0.50

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Note 14 - Allowance for Doubtful Accounts - Valuation and Qualifying Account Information (Details) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Allowance for Doubtful Accounts Receivable	$ 4,806,000	$ 4,796,000	$ 4,327,000
Additions charged to expense	2,751,000	1,952,000	1,696,000
Deductions from reserves	(1,123,000)	(1,942,000)	(1,227,000)
Allowance for Doubtful Accounts Receivable	$ 6,434,000	$ 4,806,000	$ 4,796,000

Note 15 - Other Information - Compensation and Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2019	Sep. 30, 2018
Compensation	$ 9,170	$ 10,363
Retirement plans	2,637	2,673
Other	5,904	6,605
	$ 17,711	$ 19,641

Note 15 - Other Information - Supplemental Cash Payment (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Interest	$ 47,555	$ 52,180	$ 58,844
Debt financing and reorganization costs	1,773	437	373
Income tax payments, net	$ 8,439	$ 464	$ 1,214

Note 16 - Commitments and Contingent Liabilities (Details Textual) - USD ($)	12 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 3,403,000
Operating Leases, Future Minimum Payments, Due in Two Years	2,290,000
Operating Leases, Future Minimum Payments, Due in Three Years	2,238,000
Operating Leases, Future Minimum Payments, Due in Four Years	1,637,000
Operating Leases, Future Minimum Payments, Due in Five Years	1,367,000
Operating Leases, Future Minimum Payments, Due Thereafter	4,991,000
Operating Lease, Expense	$ 4,993,000	$ 4,064,000	$ 3,866,000
Plan Partially Withdrawn From in 2017 [Member] \| Multiemployer Plans, Pension [Member]
Multiemployer Plans, Withdrawal Obligation		$ 3,255,000
Multiemployer Plans, Withdrawal Obligation, Period		20 years
Construction and Equipment Purchase Commitments [Member]
Construction and Equipment, Purchase Commitments			$ 1,642,000

Note 17 - Quarterly Financial Data (Unaudited) - Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jun. 24, 2018	Mar. 25, 2018	Dec. 24, 2017	Sep. 29, 2019	Sep. 30, 2018	Sep. 24, 2017
Operating revenue	$ 123,665	$ 127,284	$ 122,704	$ 136,201	$ 139,746	$ 132,618	$ 127,805	$ 143,786	$ 509,854	$ 543,955	$ 566,943
Net income	1,345	6,172	(2,327)	10,719	4,438	4,750	2,533	35,327	15,909	47,048	28,605
Income attributable to Lee Enterprises, Incorporated:	$ 819	$ 5,766	$ (2,678)	$ 10,361	$ 4,066	$ 4,458	$ 2,239	$ 35,003	$ 14,268	$ 45,766	$ 27,481
Basic: (in dollars per share)	$ 0.01	$ 0.10	$ (0.05)	$ 0.19	$ 0.07	$ 0.08	$ 0.04	$ 0.64	$ 0.26	$ 0.84	$ 0.51
Diluted: (in dollars per share)	$ 0.01	$ 0.10	$ (0.05)	$ 0.18	$ 0.07	$ 0.08	$ 0.04	$ 0.63	$ 0.25	$ 0.82	$ 0.50

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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