Lee Enterprises, parent company for our Post-Dispatch unit, has been making news on the business pages in recent days.
On the bright side, the company reworked its second-lien debt to lower its interest rate and extend its term.
Mary Junck, chairman and chief executive officer, made this statement: “This agreement both lowers our interest cost and gives us an even longer runway to continue reducing debt aggressively. We are now setting our sights on refinancing our first-lien debt and expect another successful outcome.”
That could be good news for employees, since the company’s burdensome debt load has already forced into one pre-packaged bankruptcy.
On the other hand, profits were down in the first quarter. And net income was down 18 percent. But still, Lee stock got a nice bump last week, apparently due to gains on the digital side of the business.
And some analysts actually suggest Lee Enterprises would be a good stock buy.