By: Staff Reports Second-quarter Powered By Advertising
Midwest publisher Lee Enterprises, which is selling its broadcast group
to focus on its newspaper and online businesses, reported profits in its
third quarter ended June 30 rose 7% to 46 cents per share.
Revenue, excluding results of the broadcast group, rose 4.5% to $109.9
million. Ad revenue increased 5.3%, with classified up 5.5%, primarily in
automotive. Retail increased 5.4%, boosted by a strong performance in June
and the late Easter.
Circulation revenue slipped 3.4% due to fewer copies sold and promotional
pricing. Newsprint costs rose 9.2%. New media revenue, which includes
online, niche publications, events and promotions, rose 4.7% in the quarter.
Lee, based in Davenport, Iowa, operates 24 daily newspapers and more than
100 weekly or specialty publications.
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