Lee Enterprises Inc
lee.netWhat Do They Do?
Publishes local news and information through newspapers and digital platforms, and sells subscriptions, advertising and marketing services to readers and local businesses.
10-K for FY2025, filed Nov 26, 2025Lee Enterprises, Incorporated is a leading digital-first subscription and marketing services company committed to delivering high-quality…View ↗
Our portfolio includes digital subscription platforms, daily and weekly newspapers, and specialized niche products designed to deliver…View ↗
Our primary revenue streams are derived from subscriptions, advertising, and digital marketing services. Subscription revenue includes…View ↗
How Do They Make Money?
Readers typically pay in advance for subscriptions; print access comes with delivery, while digital access runs through the subscription period. Advertisers pay agreed rates when advertising or marketing work is completed; other revenue also comes from digital service contracts billed monthly and from printing and delivery when products are delivered.
10-K for FY2025, filed Nov 26, 2025Payments for print and digital advertising revenue are due upon completion of our performance obligations at previously agreed upon rates.…View ↗
Print subscription revenue results from the sale of print editions of newspapers to individual subscribers and to sales outlets that resell…View ↗
Digital subscription revenue results from the sale of digital-only access to our content delivered via digital products purchased. Digital…View ↗
Payments for print and digital subscription revenue are typically collected in advance, or for contract periods of one year or less and…View ↗
Other revenue primarily consists of digital services, commercial printing and delivery of third party products. Digital services revenues…View ↗
-
10-K for FY2025, filed Nov 26, 2025
FY2025 revenue by product or service ↗
$562.3M
-
10-K for FY2025, filed Nov 26, 2025
$562.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Advertising and marketing services
|
45%
FY2022: 47%
|
Advertising and marketing services, FY2025
$253M Sources
|
|
|
Subscription
Mix
10-K for FY2025, filed Nov 26, 2025 |
46%
FY2022: 45%
|
Subscription, FY2025
$258.4M Sources
|
Mix |
|
Other
|
9.1%
FY2022: 7.8%
|
Other, FY2025
$50.9M Sources
|
Who Are Their Customers?
Readers buy print and digital subscriptions, while local businesses buy advertising and marketing services. Lee also sells print subscriptions to outlets that resell newspapers and provides digital services to customers under contracts.
10-K for FY2025, filed Nov 26, 2025Our mission is to strengthen and enrich the communities we serve by providing compelling local content, superior subscriber experiences…View ↗
Our primary revenue streams are derived from subscriptions, advertising, and digital marketing services. Subscription revenue includes…View ↗
Print subscription revenue results from the sale of print editions of newspapers to individual subscribers and to sales outlets that resell…View ↗
Other revenue primarily consists of digital services, commercial printing and delivery of third party products. Digital services revenues…View ↗
Do Revenues Turn Into Profits?
No. It lost $37.6M in FY2025.
10-K for FY2025, filed Nov 26, 2025
−$4.7MView ↗
10-K for FY2025, filed Nov 26, 2025
−$37.6MView ↗
10-K for FY2025, filed Nov 26, 2025
−$7.1MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Aug 7, 2026
$4.7MView ↗
- ▲ Now profitable
- vs −$1.9M in Q3 FY2025
10-Q for Q3 FY2026, filed Aug 7, 2026
Open tableView ↗
-
Sep 2, 2026
Lee selected Grant Thornton as its next auditor
BDO’s dismissal takes effect after its 2026 audit; Grant Thornton is slated to audit the following fiscal year.
Sources
8-K, filed Sep 9, 2026
On September 2, 2026, upon the completion of a competitive evaluation process in consideration of a potential audit firm rotation, the…View ↗
-
Aug 11, 2026
Lee appointed Nathan Bekke CEO and Joshua Rinehults CFO
The appointments were made in April 2026, before the company approved transition awards for both executives.
Sources
8-K, filed Aug 11, 2026
As previously disclosed, on April 23, 2026, the Board of Directors (the “Board”) of Lee Enterprises, Incorporated (the “Company”) appointed…View ↗
-
May 20, 2026
Lee agreed to manage Hoffmann Media Group publications
Lee will manage Hoffmann-owned publications and related digital properties, earning fees and reimbursement for certain shared-service costs.
Sources
8-K, filed May 20, 2026
On May 14, 2026, Lee Enterprises, Incorporated (“Lee” or the “Company”) entered into a Management Agreement (the “Agreement”) with Hoffmann…View ↗
Shrinking. Revenue fell 29% in 4 years, from $794.6M in FY2021 to $562.3M in FY2025, about 8% a year.
Loading...
