Just a week ago Lee Enterprises, Inc., owner of the Wisconsin State Journal, emerged from Chapter 11 bankruptcy. The LEE stock price immediately bounced back up over a dollar per share. That’s the good news.
The bad news is that Lee’s 1st quarter income dropped 23% from a year earlier.
Lee owns 48 daily newspapers, so it’s performance says almost nothing about specific performance at the Wisconsin State Journal.
One of the ironies of news purveyors is that they’re usually silent about their own stories. We assume there’s an unrelenting, low-grade sense of worry at nearly every newspaper.