![]() ![]() Lee Enterprises, headquartered in Davenport, IA, operates 46 daily newspapers and online news sites in 21 states. "We expect the acquisition to provide immediate value, accretive to both earnings and free cash flow.” “It is adjacent to two of our Iowa enterprises, in Davenport and Muscatine, so this will expand our audiences and create additional synergy opportunities," he stated. Lee President and Chief Executive Officer Kevin Mowbray stated in the news release the Dispatch-Argus "is a perfect strategic fit for Lee.” The company owns the Kankakee (IL) Daily Journal, the Rochester (MN) Post-Bulletin and the Times-Press, Streator, IL. Small, president of Small Newspaper Group, stated in the news release that selling the Dispatch-Argus "was a difficult, but necessary move" as the company focuses on its three other daily newspapers and magazines in Illinois and Minnesota. The Quad Cities is one of the few remaining metropolitan areas in the U.S. ![]() Tom Biermann, former publisher of Lee's daily newspaper in Casper, WY, will become general manager of the Dispatch-Argus.īoth newspapers trace their roots back to the mid 1800's. Taylor as publisher of the Dispatch-Argus. Culps-green, 68, of Moline, passed away Wednesday July 26, 2023, at select specialty hospital, Davenport. The Dispatch-Argus publishes seven days a week and has a circulation of 25,000.Īccording to the news release from Lee Enterprises, "the Dispatch-Argus will maintain its editorial independence," and Deb Anselm, publisher of the Quad City Times, will succeed Gerald J. The Daily Dispatch in Moline was purchased by the Small Newspaper Group, based in Kankakee, IL in 1969, and the Dispatch acquired the Rock Island Argus in 1986. The $7.15 million acquisition (including an adjustment for working capital) was announced today (6/19) and is expected to close by the end of the month.ĬLICK HERE for observations on the newspaper sale by John Beydler, who recently retired from the Dispatch-Argus after a career of more than 40 years. More than 150 years of newspaper competition in the Quad Cities will draw to an end later this month with purchase of the Dispatch-Argus and its digital portal by Lee Enterprises, Inc., owner of the Quad City Times. For more information about Lee, please visit. Lee Common Stock is traded on the New York Stock Exchange under the symbol LEE. Louis, MO Lincoln, NE Madison, WI Davenport, IA Billings, MT Bloomington, IL and Tucson, AZ. Lee’s newspapers have average circulation of 0.9 million daily and 1.2 million Sunday, and estimated to reach almost three million readers in print alone. Lee Enterprises is a leading provider of local news and information, and a major platform for advertising, with daily newspapers, rapidly growing digital products and nearly 300 weekly and specialty publications serving 50 markets in 22 states. Lane & Waterman serves as principal counsel to Lee, assisting the company with mergers and acquisitions, financing, capital market and securities issues, as well as corporate compliance, employment, intellectual property, media and other general business matters. The transaction closed on June 30 th.Īttorneys from practice areas across the firm contributed to the closing of the purchase: Ed Carroll ( Mergers & Acquisitions), Kyle Day ( Mergers & Acquisitions), Kurt Spurgeon ( Mergers & Acquisitions), Wendy Meyer ( Employment), Diane Puthoff ( ERISA), Ted Olt ( Environmental), and April Price ( Intellectual Property). The purchase also included a weekly publication, two niche publications as well as the related digital platforms. Lane & Waterman attorneys represented Lee Enterprises, Incorporated (NYSE: LEE) in Lee’s purchase of the assets of the Dispatch-Argus, a daily newspaper, serving Moline and Rock Island, Illinois.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |