Lee Enterprises Announces Board and Corporate Governance Enhancements
June 26 2019 - 5:30PM
Lee Enterprises, Incorporated (NYSE: LEE), a trusted local news
provider and leading platform for advertising in 50 markets,
announced today that digital media expert Megan Liberman has been
appointed as a new independent director to the Company’s Board. The
Company also announced several corporate governance enhancements.
Ms. Liberman, 51, is currently Senior Vice President, News, Talk
& Entertainment at SiriusXM, where she is responsible for
content and strategic direction of the talk portfolio, overseeing
60 original and partner channels and managing a staff of
approximately 350. Previously, she was Vice President and Editor in
Chief of the Yahoo News Group from 2013 to 2017 and spent 13 years
at The New York Times, most recently as Deputy News Editor for
Digital Development from 2010 to 2013.
“On behalf of the Lee Board of Directors, I’m pleased to welcome
Megan to the Board. As a lifelong journalist and highly
accomplished digital media executive, Megan brings top-tier
experience and tremendous expertise developing and implementing
effective digital platform strategies and directing award-winning
editorial content,” said Mary E. Junck, Chairman, Lee Enterprises.
“This appointment is consistent with our ongoing commitment to
bring new perspectives and capabilities to our Board as we continue
our digital transformation. We are confident that Megan’s unique
perspectives will complement our directors’ skills and experiences,
and that she will be an outstanding addition to the Board.”
Ms. Liberman stated, “I’m thrilled to be joining the Lee
Enterprises Board. Local news is vital to communities and to a
healthy democracy, and I am excited to be working with a company
that is so committed to quality journalism and keeping citizens
informed. I look forward to helping the Lee team build on its many
successes.”
Ms. Liberman’s appointment, which is effective immediately, will
increase the size of the Lee Board of Directors to 10 members.
Corporate Governance Enhancements
Lee also announced today that its Board has unanimously adopted
and approved, effective immediately, amended and restated bylaws,
including implementing:
- A majority voting standard for the election of directors in
uncontested elections;
- Proxy access, providing shareholders who satisfy the
requirements specified in the amended bylaws the ability to include
their own nominees in the Company’s proxy statement; and
- Substantially more time for shareholders to submit proposals
and director nominations for consideration at annual meetings.
Ms. Junck continued, “The enhancements disclosed today, which
are the outcome of a thorough Board review with input from outside
corporate governance experts, will further increase our Board’s
effectiveness and accountability to shareholders. We look forward
to continuing our regular engagement with investors concerning
business strategy, performance and governance practices.”
Further information on Lee’s amended and restated bylaws is
detailed in the Company’s Form 8-K filed with the Securities and
Exchange Commission on June 26, 2019.
Background on Megan Liberman
From 2001 to 2010, Ms. Liberman worked at The New York Times
Magazine, first as Story Editor before becoming Deputy Editor,
where she oversaw numerous award-winning video and multimedia
projects. Ms. Liberman began her career at a small children’s book
publisher before assuming various editorial roles at Us Weekly,
Swing Magazine, Martha Stewart Living and Bridal Guide Magazine.
Ms. Liberman earned a Bachelor of Arts degree from Barnard College
in 1990 and a Master of Science degree from Columbia Graduate
School of Journalism in 1995.
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 50 markets in 20 states. Year to
date, Lee's newspapers have average circulation of 0.7 million
daily and 1.0 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 ArmsCharles.Arms@lee.net
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