Lee Enterprises Completes Sales in Pacific NW, Northern Wisconsin
DAVENPORT, Iowa--(BUSINESS WIRE)--Oct. 3, 2006--Lee Enterprises, Incorporated (NYSE:LEE), has completed the previously announced sales of stand-alone publications and commercial printing operations in the Pacific Northwest and northern Wisconsin.
Black Press Ltd. has acquired the Little Nickel and Nickel Ads Classifieds, based in Seattle, Wash., and Portland, Ore. Target Media Partners has acquired Lee's 19 Eastern Washington publications and commercial printing operation, based in Spokane.
In northern Wisconsin, BlueLine Media Holdings LLC of Neenah, Wis., has acquired Lee's smallest stand-alone daily newspaper, The Daily News, in Rhinelander. BlueLine also has acquired the Shawano Leader, including a substantial commercial printing operation, from Madison Newspapers, Inc., which is owned jointly by Lee and The Capital Times Co.
As previously announced, Lee received about $51 million for its divested properties in the Pacific Northwest, and the sale price in Rhinelander was about $2.2 million. Proceeds will be used to reduce debt.
Lee continues to operate four daily newspapers in the Pacific Northwest. They are located in Longview, Wash., and Albany, Corvallis and Coos Bay, Ore. In Wisconsin, Lee continues to operate daily newspapers in La Crosse, Chippewa Falls and Racine. Madison Newspapers continues to operate daily newspapers in Madison, Beaver Dam, Portage and Baraboo.
Lee Enterprises is a premier publisher of local news, information and advertising in primarily midsize markets. In addition to its joint interest in Madison Newspapers, Lee owns 51 daily newspapers with rapidly growing online sites and more than 300 weekly and specialty publications in 23 states. Lee is based in Davenport, Iowa, and its stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee Enterprises, please visit www.lee.net.
CONTACT:
Lee Enterprises
Dan Hayes, 563-383-2100
dan.hayes@lee.net
SOURCE:
Lee Enterprises, Incorporated