Lee Enterprises is a leading provider of local news and information, and a major platform for advertising, in its markets, with 48 daily newspapers and a joint interest in four others, rapidly growing digital products and nearly 300 specialty publications in 23 states. Lee's newspapers have circulation of 1.3 million daily and 1.6 million Sunday, reaching nearly four million readers in print alone. Lee's websites and mobile and tablet products attracted 22.2 million unique visitors in June 2012. Lee's markets include St. Louis, MO; Lincoln, NE; Madison, WI; Davenport, IA; Billings, MT; Bloomington, IL; and Tucson, AZ. Lee Common Stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee, please visit www.lee.net.FORWARD-LOOKING STATEMENTS — The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. This news release contains information that may be deemed forward-looking that is based largely on our current expectations, and is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those anticipated. Among such risks, trends and other uncertainties, which in some instances are beyond our control, are our ability to generate cash flows and maintain liquidity sufficient to service our debt, comply with or obtain amendments or waivers of the financial covenants contained in our credit facilities, if necessary, and to refinance our debt as it comes due. Other risks and uncertainties include the impact and duration of continuing adverse economic conditions, changes in advertising demand, potential changes in newsprint and other commodity prices, energy costs, interest rates, labor costs, legislative and regulatory rulings, difficulties in achieving planned expense reductions, maintaining employee and customer relationships, increased capital costs, maintaining our listing status on the NYSE, competition and other risks detailed from time to time in our publicly filed documents. Any statements that are not statements of historical fact (including statements containing the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “project”, “consider” and similar expressions) generally should be considered forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are made as of the date of this release. We do not undertake to publicly update or revise our forward-looking statements.
Michael R. Gulledge, vice president of publishing for Lee Enterprises, Incorporated (NYSE: LEE), will become the company’s vice president of sales and marketing, responsible for leading revenue growth in more than 50 markets across 23 states. Mary Junck, Lee chairman and chief executive officer, said Gulledge will continue as publisher of Billings Gazette Communications in Montana and that a successor vice president of publishing will be selected soon. “Driving digital and print revenue growth is a top priority for Lee, and we expect Mike to raise our already-strong sales culture to an even higher level,” she said. “Lee has outpaced the industry average in advertising revenue performance for 36 quarters in a row, and Mike’s experience, ingenuity, energy, tenacity and uplifting spirit have been among the key reasons why. For example, he has led our successful introduction of paid digital content, which we expect to complete in nearly all markets within a few months, and he also has been a key strategist in our successful initiatives to accelerate digital sales, advance mobile growth and continue to expand our audiences. He also has developed a wealth of top talent in our company and has advanced our values of strong local news and community leadership. In other words, we’re counting on even more great things from Mike’s leadership in this important new role.” She said Gulledge will continue also as an operating vice president during a brief transition. In addition to Billings, he currently oversees 18 daily newspapers and digital operations in California, Idaho, Montana, Nevada, New York, Oregon, Pennsylvania, Utah, Washington and Wyoming. Gulledge began his career with Lee in 1982 as a college intern at The Southern Illinoisan in Carbondale while earning a degree in journalism and advertising at Southern Illinois University. During his 30 years with Lee he has served as advertising manager at The Southern Illinoisan, advertising manager at the Herald & Review in Decatur; advertising manager at the Quad-City Times in Davenport; general manager at the Herald & Review in Decatur; publisher Herald & Review in Decatur and in 2000, he was appointed publisher of the Billings Gazette. He was elected an officer and operating vice president in 2005. The Billings Gazette received Lee's highest honor, Enterprise of the Year, in 2006. He is active in the Billings community and has served on the boards of private college institutions, economic development organizations, and health organizations. He is chairman of the Montana Meth Project and past president of the Billings Chamber of Commerce. He and his wife, Susan, have a son and reside in Billings.