Lee Enterprises is a Year Ahead of Schedule in Reducing Debt

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By: Reuters

SCOTTSDALE, Arizona (October 10, 2012) — Lee Enterprises, Incorporated (NYSE: LEE) repaid more than $60 million of debt in its fiscal year ended September 30, 2012, and has since repaid another $15.3 million, reducing the balance to $930.6 million, below the level originally anticipated to be reached a year from now.

In remarks prepared for a presentation today at the Deutsche Bank 2012 Leveraged Finance Conference in Scottsdale, AZ, Mary Junck, Lee chairman and chief executive officer, and Carl Schmidt, vice president, chief financial officer and treasurer, said Lee expects to continue significantly reducing its leverage over the next few years.

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