Lee finally filed that end-of-year report and, as expected, the auditor added a line saying it has "substantial doubt about (Lee's) ability to continue as a going concern." $306 million in debt is due in April.
The New York Stock Exchange also warned that the stock will be delisted if performance doesn't improve.
Newsosaur Alan Mutter has a comprehensive look at what's next for Lee.
Showing posts with label Alan Mutter. Show all posts
Showing posts with label Alan Mutter. Show all posts
Tuesday, January 6, 2009
Tuesday, December 23, 2008
Newsosaur examines Lee's debt
Newsosaur Alan Mutter has a post on Lee's debt. As Mutter points out, Lee is worth about $13.5 million. Before buying the Pulitzer chain, Lee was worth $1.5 billion, then borrowed almost that much to get the Pulitzer papers.
Of course, we're still waiting to see what will happen with that annual report.
Of course, we're still waiting to see what will happen with that annual report.
Tuesday, November 18, 2008
More cuts predicted
"Newsosaur" Alan Mutter took a look at Lee's earnings and predicts "draconian expense cutting." We're in good company. His list also includes other profitable by not profitable enough companies: GateHouse Media, Journal Register, McClatchy and Tribune Co.
On Friday, CEO Mary Junck said next year's operating expenses will be cut by 6 to 7 percent.
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