Lee to purchase the Kenosha News and Lake Geneva Regional News
January 28 2019 - 10:45AM
Lee Enterprises, Incorporated (NYSE: LEE), a trusted local news
provider and leading platform for advertising in 49 markets,
announced today that the company has reached an agreement to
purchase the print and digital assets of two Wisconsin
publications, the Kenosha News and the Lake Geneva Regional News,
from the Kenosha-based media company United Communications
Corporation.
“These two markets fit very nicely into our already strong
footprint in Wisconsin,” said Lee President and Chief Executive
Officer Kevin Mowbray. “Their proximity to existing Lee properties
creates opportunity for synergies while greatly strengthening our
audiences in southeast Wisconsin.”
Mowbray noted that the acquisition will be accretive to earnings
in year one.
The Kenosha News publishes seven days a week and has an average
daily print circulation of about 20,000. The Lake Geneva Regional
News publishes weekly. The sale is expected to close on January 31,
2019.
The Kenosha News, then the Kenosha Evening News, was purchased
in 1961 by United Communications Corporation founders Howard and
Elizabeth Brown.
“The Brown Family is very grateful for the hard work and
dedication of all Kenosha News and Lake Geneva Regional News
employees, both past and present,” United Communications
Corporation President and Chief Executive Officer Lucy Brown said.
"Making the decision to sell is extraordinarily difficult, but we
welcome Lee Enterprises and know the future looks bright under
their leadership.”
ABOUT LEE
Lee Enterprises is a leading provider of local news and
information, and a major platform for advertising, with daily
newspapers, rapidly growing digital products and nearly 300 weekly
and specialty publications serving 49 markets in 20 states. Year to
date, Lee's newspapers have average circulation of 0.7 million
daily and 1.1 million Sunday, and are estimated to reach almost
three million readers in print alone. Lee's markets include St.
Louis, MO; Lincoln, NE; Madison, WI; Davenport, IA; Billings, MT;
Bloomington, IL; and Tucson, AZ. Lee Common Stock is traded on the
New York Stock Exchange under the symbol LEE. For more information
about Lee, please visit www.lee.net.
Contact: Charles ArmsDirector of CommunicationsIR@lee.net(563)
383-2100
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