Jan. 16 could determine Lee's future.
Lee hasn't been doing so well with deadlines. The last one was Dec. 29, when Lee's 10-K was to be filed with the SEC. It was filed Dec. 30. That report included a note from the auditor that it has "substantial doubt about (Lee's) ability to continue as a going concern."
The first test will be whether the company manages to iron out a deal on the terms of a loan used to finance the buying the Pulitzer papers. Either the company will have an agreement by Friday, or it will be in default, which could then force it to file for Chapter 11 bankruptcy protection. (Tribune Co. recently filed for Chapter 11. It also has sold papers and listed property for sale. Lee hasn't sold any papers or property -- unless you count Lee Lodge.)
If the company does get a deal, then it is scheduled to repay $306 million in April. Lee has already said it doesn't have the money.