Lee Enterprises Says Ad Sales Improving
DAVENPORT, Iowa (AP) ¿ Echoing other media companies, newspaper publisher Lee Enterprises Inc. said Friday its advertising sales strengthened in November for the third month in a row.
Lee still expects operating revenue to decline 14 percent to 15 percent for the current quarter when compared with the same period a year earlier. Revenue had declined an average of 20 percent in the first three quarters of the year.
"Based on trends through early December, we're hopeful that the turnaround has begun," said Mary Junck, the company's chairman and CEO, in a statement.
Lee's shares fell 4 cents to close Friday at $3.54.
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