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.

• Here's Lee's official release.
• The Editor & Publisher write-up
• Associated Press write-up

Post your thoughts on what this means in the comments.