LEE ENTERPRISES, Inc

Lee Enterprises, Incorporated announced that Mary Junck will retire from its Board of Directors, effective July 31, 2026. The company stated that there were no disagreements related to her departure, as per the requirements of Item 5.02(b) of Form 8-K.

Lee Enterprises has been included in the US small-cap Russell 2000® Index, effective June 29, 2026, as part of the annual reconstitution. This inclusion, based on its membership in the broader Russell 3000® Index, is expected to enhance the company's visibility within the investment community. Management anticipates increased trading liquidity and a broader institutional shareholder base, supporting its long-term growth strategy.

Lee Enterprises announced a new partnership with Hudl and Franciscan Alliance to expand high school sports coverage across Indiana. Franciscan Alliance will serve as the exclusive Indiana healthcare partner, supporting the distribution of high-quality content through Lee Enterprises' local news platforms. The collaboration aims to enhance local storytelling, video highlights, and health-focused engagement, connecting athletes, families, and communities while reinforcing health, safety, and community connection.

Lee Enterprises has entered into a Management Agreement with Hoffmann Media Group to manage and operate certain newspaper publications and related digital properties. The agreement, effective June 1, 2026, has an initial five-year term and includes a fixed quarterly management fee of $135,000, along with a variable fee based on EBITDA from future acquisitions. This related-party transaction, involving Lee's Chairman and majority shareholder David Hoffmann, was approved by Lee's Board of Directors.

Lee Enterprises completed a $50.0 million private placement of 16 million common shares and amended its credit agreement to reduce the term loan interest rate from 9.00% to 5.00% for five years. For the second quarter of fiscal 2026, the company reported a total operating revenue of $121.964 million, a decrease from the prior year, but significantly narrowed its net loss to $(1.709) million. The company also strategically terminated its pension plan and received $5.8 million in cybersecurity insurance reimbursements.

Lee Enterprises reported strong preliminary second-quarter fiscal 2026 results, with Adjusted EBITDA increasing 95% year-over-year to $15 million, or 45% excluding insurance reimbursements. The company significantly improved its net loss by 86% to $2 million and saw digital revenue constitute 56% of total operating revenue. Strategic actions included a reduced interest rate on debt from 9% to 5%, expected to save $18 million annually, and a strengthened balance sheet with $53 million in cash. The company reaffirmed its FY26 guidance for mid-single-digit Adjusted EBITDA growth.

Lee Enterprises, Inc. has permanently appointed Nathan Bekke as President and Chief Executive Officer, and Josh Rinehults as Vice President, Chief Financial Officer and Treasurer. Both executives had been serving in interim capacities since February 2026, following the company's strategic investment. The Board of Directors unanimously approved the appointments after a comprehensive nationwide search, expressing confidence in their leadership, industry expertise, and vision for long-term growth and shareholder value.

Lee Enterprises has scheduled an audio webcast and conference call for Thursday, May 7, 2026, at 9 a.m. Central Time, to discuss its preliminary results for the quarter ended March 29, 2026. The company plans to issue a news release with these results before the market opens on the same day. Investors can access the live webcast via the Investor Relations section of Lee's website or register to participate in the conference call.