UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Schmedding, Gary N.
c/o Lee Enterprises, Incorporated
400 Putnam Building
215 N. Main Street
Davenport, IA 52801
USA
2. Issuer Name and Ticker or Trading Symbol
Lee Enterprises, Incorporated
LEE ENT
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/7/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
President - Broadcasting Group
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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Common Stock |11/8/9|F |V|2,234 |D |$28.1875 | | | |
|8 | | | | | | | | |
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Common Stock |11/16/|A |V|850 |A |$27.188 | | | |
|98 | | | | | | | | |
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Common Stock |12/7/9|F |V|7,070 |D |$28.50 | |D | |
|8 | | | | | | | | |
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Common Stock |12/7/9|M | |10,000 |A |$15.5625 | |D | |
|8 | | | | | | | | |
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Common Stock |12/7/9|G |V|2,930 |D |$33.5625 |27,951 |D | |
|8 | | | | | | | | |
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Common Stock |12/7/9|G |V|2,930 |A |$33.5625 |8,928* |I |By Spouse |
|8 | | | | | | | | |
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Common Stock | | | | | | |40* |I |By Son |
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Common Stock | | | | | | |500* |I |By Trust |
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Class B Common Stock | | | | | | |9,064 |D | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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Employee Stock Option |$15.5625|12/7/|M | |10,000 |D |** |11/7/|Common Stock|30,000 | |20,000 |D | |
(Right to Buy) | |98 | | | | | |99 | | | | | | |
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Employee Stock Option |$11 | | | | | |** |11/7/|Common Stock|32,452 | |32,452 |D | |
(Right to Buy) | | | | | | | |00 | | | | | | |
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Employee Stock Option |$15.375 | | | | | |** |11/7/|Common Stock|5,400 | |5,400 |D | |
(Right to Buy) | | | | | | | |00 | | | | | | |
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Employee Stock Optiion|$11 | | | | | |** |11/19|Common Stock|32,000 | |32,000 |D | |
(Right to Buy) | | | | | | | |/01 | | | | | | |
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Employee Stock Option |$15.5626| | | | | |** |11/17|Common Stock|24,000 | |24,000 |D | |
(Right to Buy) | | | | | | | |/02 | | | | | | |
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Employee Stock Option |$16 | | | | | |** |11/2/|Common Stock|15,400 | |15,400 |D | |
(Right to Buy) | | | | | | | |03 | | | | | | |
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Employee Stock Option |$16.625 | | | | | |** |11/1/|Common Stock|20,000 | |20,000 |D | |
(Right to Buy) | | | | | | | |04 | | | | | | |
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Employee Stock Option |$19.8125| | | | | |** |11/7/|Common Stock|20,000 | |20,000 |D | |
(Right to Buy) | | | | | | | |05 | | | | | | |
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Employee Stock Option |$21.50 | | | | | |** |11/7/|Common Stock|10,000 | |10,000 |D | |
(Right to Buy) | | | | | | | |06 | | | | | | |
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Employee Stock Option |$26 5/8 | | | | | |** |11/7/|Common Stock|8,000 | |8,000 |D | |
(Right to Buy) | | | | | | | |07 | | | | | | |
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Employee Stock Option |$27.188 |11/16|A |V|7,000 |A |** |11/16|Common Stock|7,000 | |7,000 |D | |
(Right to Buy) | |/98 | | | | | |/08 | | | | | | |
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Explanation of Responses:
* The reporting person disclaims beneficial ownership of these securities, and
this report shall not be deemed an
admission that the reporting person is the beneficial owner of such securities
for purposes of Section 16 or for any
other
purpose.
** These securities become exercisable as follows: 30% upon the first
anniversary date of the grant; 60% upon the
second anniversary date of the grant; and 100% upon the third anniversary date
of the grant.
SIGNATURE OF REPORTING PERSON
/s/ Gary N. Schmedding
