Thursday, July 30, 2009

Lee loses $24.5M in third quarter

Lee Enterprises reported a $24.5 million quarterly loss today.

Revenue fell 20.5 percent to $203.8 million. CEO Mary Junck said the company is cutting operating expenses by 22 percent and paying off $18 million in debt. So far, stock prices are down more than 15 percent today.

Post your thoughts on what this means in the comments.

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