LEE FINDS BUYER FOR TV STATIONS

Posted Wednesday, May 10, 2000 12:00 am

By: Staff reports 15 Stations Bought By Emmis Communications

Emmis Communications Corp. agreed to buy 15 TV stations from Davenport, Iowa-based Lee
Enterprises, which put its broadcast division up for sale in March to focus on growing
its newspaper and online businesses.

Emmis agreed to buy eight of Lee's nine network-affiliated stations and all seven of its
satellite stations for $562.5 million. The sale is expected to be completed by late
summer or early fall, after clearance from regulatory authorities.

The Lee deal represents a continued move in diversification for Indianapolis-based Emmis,
which currently owns seven TV stations and 15 radio stations, plus two radio networks and
regional and speciality magazines.

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LEE FINDS BUYER FOR TV STATIONS

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