Profile: Lee Enterprises Inc (LEE)
3 Dec 2013
Lee Enterprises, Incorporated, incorporated on September 22, 1950, provides local news, information and advertising in midsize markets, with 47 daily newspapers and a joint interest in four others, nearly 300 weekly newspapers and specialty publications in 23 states. The Company owns Pulitzer Inc. (Pulitzer). Pulitzer newspaper operations include St. Louis, Missouri, where its subsidiary, St. Louis Post-Dispatch LLC (PD LLC), publishes the St. Louis Post-Dispatch, the daily newspaper serving the greater St. Louis metropolitan area, and a range of specialty publications, and supports its related digital products. St. Louis newspaper operations also include the Suburban Journals of Greater St. Louis, a group of weekly newspapers and publications that focus on separate communities within the metropolitan area. Pulitzer and its subsidiaries and affiliates publishes 12 daily newspapers and support the related digital products, as well as publish approximately 75 weekly newspapers, shoppers and niche publications that serve markets in the Midwest, Southwest and West.
The Company owns a 50% interest in TNI, the Tucson, Arizona newspaper partnership. TNI, acting as agent for its subsidiary, Star Publishing Company (Star Publishing), and the owner of the remaining 50%, Citizen Publishing Company (Citizen), a subsidiary of Gannett Co., Inc., (Gannett), is responsible for printing, delivery, advertising and circulation of the Arizona Daily Star, as well as their related digital products and specialty publications. The Arizona Daily Star remains the separate property of Star Publishing.
The Company owns 50% of the capital stock of Madison Newspapers, Inc. (MNI) and 17% of the nonvoting common stock of The Capital Times Company (TCT). TCT owns the remaining 50% of the capital stock of MNI. MNI publishes daily and Sunday newspapers, and other publications in Madison, Wisconsin, and other Wisconsin locations, and supports their related digital products. MNI conducts business under the trade name Capital Newspapers. It has a contract to furnish the editorial and news content for the Wisconsin State Journal, which is published by MNI, and provides other services to MNI.
During fiscal year ended September 30, 2012 (fiscal 2012), approximately 70% of its revenue was derived from advertising. Several of its businesses operate in geographic groups of publications, or clusters, which provides operational efficiencies and extend sales penetration. Its retail advertising is revenue earned from sales of display advertising space in the publication, or for preprinted advertising inserted in the publication, to local accounts or regional and national businesses with local retail operations. Classified advertising, which includes employment, automotive, real estate for sale or rent, legal and other categories, is revenue earned from sales of advertising space in the classified section of the publication or from publications consisting primarily of such advertising. Classified publications are periodic advertising publications available in racks or delivered free, by carriers or third-class mail, to all, or selected, households in a particular geographic area. Digital advertising consists of display, banner, behavioral targeting, search, media, directories, classified or other advertising on Websites or mobile devices associated and integrated with its print publications, other digital applications, or on third party affiliated Websites, such as Yahoo! Inc. (Yahoo!). National advertising is revenue earned from display advertising space, or for preprinted advertising inserted in the publication, to national accounts. Niche publications are specialty publications, such as lifestyle, business, health or home improvement publications that contain significant amounts of advertising.
Digital Advertising and Services
The Company’s digital activities include Websites supporting each of its daily newspapers and certain of its other publications. Its Website content is also available through output to mobile devices, including telephones and tablet devices. In addition, it also supports a number of discrete mobile applications, such as for high school, college and professional sports. Digital activities of the newspapers are reported and managed as a part of its publishing operations. It also owns 82.5% of an Internet service company, INN Partners, L.C., which provides digital infrastructure and digital publishing services for more than 1,500 daily and weekly newspapers and shoppers, including those of the Company. During fiscal 2012, digital advertising represented 13% of total advertising revenue.
Lee Enterprises Inc
STE. 600, 201 N. HARRISON STREET
DAVENPORT IA 52801