Lee Enterprises (LEE) 10-Q 7 Feb 25 2025 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Dec. 29, 2024	Jan. 31, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 29, 2024
Document Transition Report	false
Entity File Number	1-6227
Entity Registrant Name	LEE ENTERPRISES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	42-0823980
Entity Address, Address Line One	4600 E. 53rd Street
Entity Address, City or Town	Davenport
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52807
City Area Code	563
Local Phone Number	383-2100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,190,939
Entity Central Index Key	0000058361
Current Fiscal Year End Date	--09-28
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	LEE
Security Exchange Name	NASDAQ
Preferred Share Purchase Rights
Document Information [Line Items]
Title of 12(b) Security	Preferred Share Purchase Rights
Trading Symbol	LEE
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 29, 2024	Sep. 29, 2024
Current assets:
Cash and cash equivalents	$ 6,122	$ 9,598
Accounts receivable, net	59,539	60,648
Inventories	6,231	5,643
Prepaid and other current assets	20,409	21,884
Total current assets	92,301	97,773
Investments:
Associated companies	27,713	27,941
Other	6,090	6,042
Total investments	33,803	33,983
Property and equipment:
Land and improvements	6,377	6,420
Buildings and improvements	69,821	70,152
Equipment	191,923	196,312
Construction in process	7,165	5,625
Property and equipment, gross	275,286	278,509
Less accumulated depreciation	232,454	234,137
Property and equipment, net	42,832	44,372
Operating lease right-of-use assets	31,886	34,882
Goodwill	323,858	328,040
Other intangible assets, net	66,600	70,075
Other	12,997	12,083
Total assets	632,968	649,171
Current liabilities:
Current portion of lease liabilities	7,818	8,139
Current maturities of long-term debt	0	0
Accounts payable	44,795	36,290
Compensation and other accrued liabilities	36,088	39,170
Unearned revenue	30,285	31,755
Total current liabilities	118,986	115,354
Long-term debt, net of current maturities	445,943	445,943
Operating lease liabilities	26,962	29,769
Pension obligations	552	561
Postretirement and postemployment benefit obligations	7,516	7,520
Deferred income taxes	28,236	28,403
Income taxes payable	3,509	3,456
Withdrawal liabilities and other	25,441	25,499
Total liabilities	657,145	656,505
Commitments and Contingent Liabilities (Note 9)
Stockholders' equity:
Serial convertible preferred stock, no par value; authorized 500 shares; none issued	0	0
Additional paid-in capital	262,569	262,470
Accumulated deficit	(309,089)	(292,341)
Accumulated other comprehensive income	19,805	19,920
Total Lee Enterprises, Inc. Stockholders' deficit	(26,653)	(9,889)
Non-controlling interests	2,476	2,555
Total deficit	(24,177)	(7,334)
Total liabilities and deficit	632,968	649,171
Common Class A
Stockholders' equity:
Common stock	62	62
Common Class B
Stockholders' equity:
Common stock	0	0
Pension Plan
Property and equipment:
Pension and medical plan assets	4,962	4,663
Medical Plan
Property and equipment:
Pension and medical plan assets	$ 23,729	$ 23,300

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Dec. 29, 2024	Sep. 29, 2024
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	500	500
Preferred stock, shares issued (in shares)	0	0
Common Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	12,000	12,000
Common stock, shares outstanding (in shares)	6,190	6,190
Common stock, shares issued (in shares)	6,190	6,190
Common Class B
Common stock, par value (in dollars per share)	$ 2	$ 2
Common stock, shares authorized (in shares)	3,000	3,000
Common stock, shares issued (in shares)	0	0

CONSOLIDATED STATEMENTS OF (LOS

CONSOLIDATED STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Operating revenue:
Total operating revenue	$ 144,562	$ 155,678
Operating expenses:
Compensation	60,254	59,676
Newsprint and ink	3,616	4,843
Other operating expenses	74,680	74,776
Depreciation and amortization	6,265	7,295
Assets gain on sales, impairments and other, net	(929)	(1,469)
Restructuring costs and other	5,150	4,265
Total operating expenses	149,036	149,386
Equity in earnings of associated companies	1,122	1,541
Operating (loss) income	(3,352)	7,833
Non-operating (expense) income:
Interest expense	(10,282)	(10,131)
Pension and OPEB related benefit and other, net	653	186
Curtailment/Settlement gains	0	3,593
Total non-operating expense, net	(9,629)	(6,352)
(Loss) income before income taxes	(12,981)	1,481
Income tax expense	3,243	248
Net (loss) income	(16,224)	1,233
Net income attributable to non-controlling interests	(524)	(545)
(Loss) income attributable to Lee Enterprises, Incorporated	(16,748)	688
Other comprehensive loss, net of income taxes	(115)	(2,314)
Comprehensive loss attributable to Lee Enterprises, Incorporated	$ (16,863)	$ (1,626)
(Loss) earnings per common share:
Basic (in dollars per share)	$ (2.80)	$ 0.12
Diluted (in dollars per share)	$ (2.80)	$ 0.12
Advertising and marketing services
Operating revenue:
Total operating revenue	$ 66,590	$ 70,887
Subscription
Operating revenue:
Total operating revenue	64,997	71,339
Other
Operating revenue:
Total operating revenue	$ 12,975	$ 13,452

CONSOLIDATED STATEMENTS OF DEFI

CONSOLIDATED STATEMENTS OF DEFICIT (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (7,334)	$ 23,706
Shares issued (redeemed)	(331)	(96)
Net (loss) income	(16,224)	1,233
Stock compensation	430	214
Other comprehensive loss	(151)	(2,286)
Deferred income taxes, net	36	(28)
Distributions to minority owners	(603)	(553)
Ending balance	(24,177)	22,190
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(292,341)	(266,496)
Net (loss) income	(16,748)	688
Ending balance	(309,089)	(265,808)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	62	61
Ending balance	62	61
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	262,470	260,832
Shares issued (redeemed)	(331)	(96)
Stock compensation	430	214
Ending balance	262,569	260,950
Accumulated Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	19,920	26,843
Other comprehensive loss	(151)	(2,286)
Deferred income taxes, net	36	(28)
Ending balance	19,805	24,529
Non-Controlling Interests:
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,555	2,466
Net (loss) income	524	545
Distributions to minority owners	(603)	(553)
Ending balance	$ 2,476	$ 2,458

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 29, 2024	Dec. 24, 2023	Sep. 29, 2024
Cash provided by (required for) operating activities:
Net (loss) income	$ (16,224)	$ 1,233
Adjustments to reconcile net loss to net cash (required for) provided by operating activities:
Depreciation and amortization	6,265	7,295
Bad debt expense	3,474	3,724	$ 13,633
Curtailment/Settlement gain	0	(3,593)
Stock compensation expense	430	214
Assets gain on sales, impairments and other, net	(929)	(1,469)
Earnings, net of distributions, deemed returns on investment of TNI and MNI	228	(59)
Deferred income taxes	(131)	(645)
Other, net	(603)	(550)
Changes in operating assets and liabilities:
Increase in receivables	(2,682)	(3,040)
Increase in inventories and other	(406)	(66)
(Decrease) increase in accounts payable and other accrued liabilities	4,197	64
Decrease in pension and other postretirement and postemployment benefit obligations	(893)	(418)
Change in income taxes payable	52	(2,105)
Other	(115)	(505)
Net cash (required for) provided by operating activities	(7,337)	80
Cash provided by investing activities:
Purchases of property and equipment	(1,553)	(1,030)
Proceeds from sales of assets	5,414	3,145
Other, net	0	(20)
Net cash provided by investing activities	3,861	2,095
Cash required for financing activities:
Principal payments on long-term debt	0	(1,580)
Common stock transactions, net	0	221
Net cash required for financing activities	0	(1,359)
Net (decrease) increase in cash and cash equivalents	(3,476)	816
Cash and cash equivalents:
Beginning of period	9,598	14,548	14,548
End of period	$ 6,122	$ 15,364	$ 9,598

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Dec. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited, interim, Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for quarterly reports. In the opinion of management, these financial statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Lee Enterprises, Incorporated and its subsidiaries (the “Company”) as of December 29, 2024, and our results of operations and cash flows for the periods presented. The Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company's 2024 Annual Report on Form 10-K. The Company's fiscal year ends on the last Sunday in September. Fiscal year 2025 ends September 28, 2025, and fiscal year 2024 ended September 29, 2024. Fiscal year 2025 includes 52 weeks of operations and 2024 included 53 weeks of operations. Because of seasonal and other factors, the results of operations for the three months ended December 29, 2024, are not necessarily indicative of the results to be expected for the full year. The Consolidated Financial Statements include our accounts and those of our wholly owned subsidiaries, as well as our 82.5% interest in INN Partners, L.C. (“BLOX Digital" formerly "TownNews”). Our 50% interest in TNI Partners ("TNI") and our 50% interest in Madison Newspapers, Inc. ("MNI") are accounted for using the equity method and are reported at cost, plus our share of undistributed earnings since acquisition less, for TNI, amortization of intangible assets.

Revenue

Revenue	3 Months Ended
	Dec. 29, 2024
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The following table presents our revenue disaggregated by source: Three months Ended (Thousands of Dollars) December 29, December 24, Operating revenue: Print advertising revenue 19,861 24,435 Digital advertising and marketing services revenue 46,729 46,452 Advertising and marketing services revenue 66,590 70,887 Print subscription revenue 43,432 51,872 Digital subscription revenue 21,565 19,467 Subscription revenue 64,997 71,339 Print other revenue 7,888 8,492 Digital other revenue 5,087 4,960 Other revenue 12,975 13,452 Total operating revenue 144,562 155,678 Recognition principles: Revenue is recognized when a performance obligation is satisfied by the transfer of control of the contracted goods or services to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services. Contract Liabilities: The Company’s primary source of contract liabilities is unearned revenue from subscriptions paid in advance of the service provided. The Company expects to recognize the revenue related to unsatisfied performance obligations over the next twelve months in accordance with the terms of the subscriptions and other contracts with customers. Revenue recognized in the three months ended December 29, 2024, that was included in the contract liability as of September 29, 2024, was $19.4 million. Accounts receivable, excluding allowance for credit losses was $65.4 million and $67.2 million as of December 29, 2024, and September 29, 2024 , respectively. Allowance for credit losses was $5.9 million and $6.5 million as of December 29, 2024, and September 29, 2024 , respectively. Valuation and qualifying account information related to the allowance for credit losses related to continuing operations is as follows: (Thousands of Dollars) December 29, September 29, Balance, beginning of year 6,514 5,260 Additions charged to expense 3,474 13,633 Deductions from reserves (4,123) (12,379) Balance, end of year 5,865 6,514 Sales commissions are expensed as incurred as the associated contractual periods are one year or less. These costs are recorded within compensation. Most of our contracts have original expected lengths of one year or less and revenue is earned at a rate and amount that corresponds directly with the value to the customer.

Investments In Associated Compa

Investments In Associated Companies	3 Months Ended
	Dec. 29, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments In Associated Companies	INVESTMENTS IN ASSOCIATED COMPANIES TNI Partners In Tucson, Arizona, TNI, acting as agent for our subsidiary, Star Publishing Company (“Star Publishing”), and Gannett Co., Inc.'s subsidiary Citizen Publishing Company (“Citizen”), is responsible for printing, delivery, advertising, and subscription activities of the Arizona Daily Star as well as the related digital platforms and specialty publications. TNI collects all receipts and income and pays substantially all operating expenses incident to the partnership's operations and publication of the newspaper and other media. Income or loss of TNI (before income taxes) is allocated equally to Star Publishing and Citizen. Summarized results of TNI are as follows: Three months ended (Thousands of Dollars) December 29, December 24, Operating revenue 6,533 6,991 Operating expenses 5,206 4,681 Operating income 1,327 2,310 Net income 1,250 1,155 Equity in earnings of TNI 625 578 TNI makes periodic distributions of its earnings and for the three months ended December 29, 2024, and December 24, 2023, we received $0.5 million and $1.2 million in distributions, respectively. Madison Newspapers, Inc. We have a 50% ownership interest in MNI, which publishes daily and Sunday newspapers, and other publications in Madison, Wisconsin, and other Wisconsin locations, and operates their related digital platforms. Net income or loss of MNI (after income taxes) is allocated equally to us and The Capital Times Company (“TCT”). MNI conducts its business under the trade name Capital Newspapers. Summarized results of MNI are as follows: Three months ended (Thousands of Dollars) December 29, December 24, Operating revenue 9,759 10,602 Operating expenses, excluding restructuring costs, depreciation and amortization 7,455 7,810 Restructuring costs — 61 Depreciation and amortization 90 120 Operating income 2,214 2,611 Net income 994 772 Equity in earnings of MNI 497 386

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill And Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and identified intangible assets consist of the following: (Thousands of Dollars) December 29, September 29, Goodwill, beginning of period 328,040 329,504 Allocated to sold operations (4,182) (1,464) Goodwill, end of period 323,858 328,040 Non-amortized intangible assets: Mastheads 10,917 10,917 Amortizable intangible assets: Customer and newspaper subscriber lists 262,146 262,242 Less accumulated amortization (206,463) (203,084) 55,683 59,158 Total intangibles, net 390,458 398,115 The weighted average amortization period for amortizable assets is approximately ten years. During the three months ended December 29, 2024, the Company sold certain non-core operations. Goodwill was allocated to these operations, which totaled $4.2 million.

Debt

Debt	3 Months Ended
	Dec. 29, 2024
Debt Disclosure [Abstract]
Debt	DEBT The Company has debt consisting of a single 25-year term loan with BH Finance LLC, with an aggregate principal balance of $445.9 million at a 9% annual fixed rate and maturing on March 16, 2045 (referred to herein as “Credit Agreement” and “Term Loan”). On December 29, 2024, the fair value was $383.3 million, representing a Level 2 fair value measurement, which are fair values estimated using significant other observable inputs for similar instruments. During the three months ended December 29, 2024, we made no principal debt payments. Future payments are contingent on the Company's ability to generate future excess cash flow, as defined in the Credit Agreement. As of December 29, 2024, $— million was recognized as current maturities of long-term debt in the Consolidated Balance Sheets due to non-core asset monetization.

Pension, Postretirement and Pos

Pension, Postretirement and Postemployment Defined Benefit Plans	3 Months Ended
	Dec. 29, 2024
Retirement Benefits [Abstract]
Pension, Postretirement and Postemployment Defined Benefit Plans	PENSION, POSTRETIREMENT AND POSTEMPLOYMENT DEFINED BENEFIT PLANS We have one defined benefit pension plan that covers certain employees, including plans established under collective bargaining agreements. Additionally, we provide retiree medical and life insurance benefits under postretirement plans at several of our operating locations. Through December 29, 2024, our liability and related expense for benefits under the plans are recorded over the service period of employees based upon annual actuarial calculations. The net periodic pension and postretirement cost (benefit) components for our plans are as follows: PENSION PLANS Three months ended (Thousands of Dollars) December 29, December 24, Service cost for benefits earned during the period 1 1 Interest cost on projected benefit obligation 2,034 2,515 Expected return on plan assets (2,319) (2,453) Amortization of net (gain) loss — (2) Amortization of prior service benefit 212 212 Settlement gain — (2,409) Net periodic pension (benefit) cost (72) (2,136) POSTRETIREMENT MEDICAL PLANS Three months ended (Thousands of Dollars) December 29, December 24, Service cost for benefits earned during the period 1 13 Interest cost on projected benefit obligation 108 149 Expected return on plan assets (410) (320) Amortization of net gain (292) (308) Amortization of prior service benefit (71) (94) Curtailment gain — (1,184) Net periodic postretirement benefit (664) (1,744) In the three months ended December 29, 2024 and December 24, 2023, we made no contributions to our pension plans. W e have no required contributions to our pension plans for 2025. Multiemployer Pension Plans In prior periods, the Company effectuated withdrawals from several multiemployer plans. As of December 29, 2024 and September 29, 2024, we had $23.3 million and $23.6 million of accrued withdrawal liabilities. The liabilities reflect the estimated value of payments to the fund, payable over 20-years.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES We recorded an income tax expense of $3.2 million related to loss before taxes of $13.0 million for the three months ended December 29, 2024. We recorded an income tax expense of $0.2 million related to income before taxes of $1.5 million for the three months ended December 24, 2023. The effective income tax rate for the three months ended December 29, 2024, was 25.0%. The effective income tax rate for the three months ended December 24, 2023, was 16.7%. The primary differences between these rates and the U.S. federal statutory rate of 21% are because of state taxes, non-deductible expenses, changes in valuation allowance, and adjustments to reserves for uncertain tax positions, including any related interest. We file a consolidated federal tax return, as well as combined and separate tax returns in approximately 30 state and local jurisdictions. We do not currently have any federal or material state income tax examinations in progress. Our income tax returns have generally been audited or closed to audit through 2016.

(Loss) Earnings Per Common Shar

(Loss) Earnings Per Common Share	3 Months Ended
	Dec. 29, 2024
Earnings Per Share [Abstract]
(Loss) Earnings Per Common Share	(LOSS) EARNINGS PER COMMON SHARE The following table sets forth the computation of basic and diluted (loss) earnings per common share: Three months ended (Thousands of Dollars and Shares, Except Per Share Data) December 29, December 24, (Loss) income attributable to Lee Enterprises, Incorporated: (16,748) 688 Weighted average common shares 6,192 6,080 Less weighted average restricted Common Stock (204) (170) Basic average common shares 5,988 5,910 Dilutive restricted Common Stock — 26 Diluted average common shares 5,988 5,936 (Loss) earnings per common share: Basic (2.80) 0.12 Diluted (2.80) 0.12 For the three months ended December 29, 2024 and December 24, 2023 we had no and 128,019 weighted average shares, respectively, not considered in the computation of diluted earnings per share because the Company recorded net losses. Rights Agreement On March 28, 2024, our Board of Directors adopted a stockholder rights plan (the “Rights Agreement”). Pursuant to the Rights Agreement, on March 28, 2024, our Board of Directors declared a dividend of one preferred share purchase right (a “Right”), payable on April 8, 2024, for each share of our Common Stock outstanding to the stockholders of record on that date. Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series C Participating Convertible Preferred Stock, without par value (the “Preferred Shares”), of the Company at a price of $90.00 per one one-thousandth of a Preferred Share represented by a Right, subject to adjustment. The Rights will initially trade with our Common Stock and will generally become exercisable only if any person or group, other than certain exempt persons, acquires beneficial ownership of 15% or more of our Common Stock outstanding. In the event the Rights become exercisable, each holder of a Right, other than the triggering person(s), will be entitled to purchase additional shares of our Common Stock at a 50% discount or the Company may exchange each Right held by such holders for one share of our Common Stock. The Rights Agreement will continue in effect until March 27, 2025, or unless earlier redeemed or terminated by the Company, as provided in the Rights Agreement. The Rights have no voting or dividend privileges, and, unless and until they become exercisable, have no dilutive effect on the earnings of the Company. The Rights Agreement applies equally to all current and future stockholders and is not intended to deter offers or preclude our Board of Directors from considering acquisition proposals that are fair and

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Dec. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENT LIABILITIES Legal Proceedings We are involved in a variety of legal actions that arise in the normal course of business. Insurance coverage mitigates potential loss for certain of these matters. While we are unable to predict the ultimate outcome of these legal actions except for the case described below, which amounts are recognized in "Prepaids and Other" and "Compensation and other accrued liabilities" on the Consolidated Balance Sheets, it is our opinion that the disposition of these matters will not have a material adverse effect on our Consolidated Financial Statements, taken as a whole. The Company was named as a defendant by a group of Plaintiffs acting on behalf of a proposed class of digital subscribers in a lawsuit in 2022. The lawsuit alleged that the Company violated the Video Privacy Protection Act (“VPPA”) by using pixels to track subscribers’ video viewing activity on Company websites and sharing it with Meta without consent. The Company has agreed to a preliminary settlement with the Plaintiffs for $9.5 million, subject to required court approval. The entire settlement amount will be paid by the Company’s insurance carriers. The settlement liability and insurance receivable are recorded within “Compensation and other accrued liabilities” and “Prepaids and other” on the Consolidated Balance Sheets as of December 29, 2024 and September 29, 2024, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Pay vs Performance Disclosure
Income (loss) attributable to Lee Enterprises, Incorporated	$ (16,748)	$ 688

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited, interim, Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for quarterly reports. In the opinion of management, these financial statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Lee Enterprises, Incorporated and its subsidiaries (the “Company”) as of December 29, 2024, and our results of operations and cash flows for the periods presented. The Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company's 2024 Annual Report on Form 10-K. The Company's fiscal year ends on the last Sunday in September. Fiscal year 2025 ends September 28, 2025, and fiscal year 2024 ended September 29, 2024. Fiscal year 2025 includes 52 weeks of operations and 2024 included 53 weeks of operations. Because of seasonal and other factors, the results of operations for the three months ended December 29, 2024, are not necessarily indicative of the results to be expected for the full year. The Consolidated Financial Statements include our accounts and those of our wholly owned subsidiaries, as well as our 82.5% interest in INN Partners, L.C. (“BLOX Digital" formerly "TownNews”). Our 50% interest in TNI Partners ("TNI") and our 50% interest in Madison Newspapers, Inc. ("MNI") are accounted for using the equity method and are reported at cost, plus our share of undistributed earnings since acquisition less, for TNI, amortization of intangible assets.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Dec. 29, 2024
Revenue from Contract with Customer [Abstract]
Revenue Disaggregated by Source	The following table presents our revenue disaggregated by source: Three months Ended (Thousands of Dollars) December 29, December 24, Operating revenue: Print advertising revenue 19,861 24,435 Digital advertising and marketing services revenue 46,729 46,452 Advertising and marketing services revenue 66,590 70,887 Print subscription revenue 43,432 51,872 Digital subscription revenue 21,565 19,467 Subscription revenue 64,997 71,339 Print other revenue 7,888 8,492 Digital other revenue 5,087 4,960 Other revenue 12,975 13,452 Total operating revenue 144,562 155,678
Schedule of Allowance for Credit Losses	Valuation and qualifying account information related to the allowance for credit losses related to continuing operations is as follows: (Thousands of Dollars) December 29, September 29, Balance, beginning of year 6,514 5,260 Additions charged to expense 3,474 13,633 Deductions from reserves (4,123) (12,379) Balance, end of year 5,865 6,514

Investments In Associated Com_2

Investments In Associated Companies (Tables)	3 Months Ended
	Dec. 29, 2024
Equity Method Investments and Joint Ventures [Abstract]
Summarized Results of TNI and MNI	Summarized results of TNI are as follows: Three months ended (Thousands of Dollars) December 29, December 24, Operating revenue 6,533 6,991 Operating expenses 5,206 4,681 Operating income 1,327 2,310 Net income 1,250 1,155 Equity in earnings of TNI 625 578 Summarized results of MNI are as follows: Three months ended (Thousands of Dollars) December 29, December 24, Operating revenue 9,759 10,602 Operating expenses, excluding restructuring costs, depreciation and amortization 7,455 7,810 Restructuring costs — 61 Depreciation and amortization 90 120 Operating income 2,214 2,611 Net income 994 772 Equity in earnings of MNI 497 386

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	Goodwill and identified intangible assets consist of the following: (Thousands of Dollars) December 29, September 29, Goodwill, beginning of period 328,040 329,504 Allocated to sold operations (4,182) (1,464) Goodwill, end of period 323,858 328,040 Non-amortized intangible assets: Mastheads 10,917 10,917 Amortizable intangible assets: Customer and newspaper subscriber lists 262,146 262,242 Less accumulated amortization (206,463) (203,084) 55,683 59,158 Total intangibles, net 390,458 398,115

Pension, Postretirement and P_2

Pension, Postretirement and Postemployment Defined Benefit Plans (Tables)	3 Months Ended
	Dec. 29, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension and Postretirement Cost (Benefit) Components	The net periodic pension and postretirement cost (benefit) components for our plans are as follows: PENSION PLANS Three months ended (Thousands of Dollars) December 29, December 24, Service cost for benefits earned during the period 1 1 Interest cost on projected benefit obligation 2,034 2,515 Expected return on plan assets (2,319) (2,453) Amortization of net (gain) loss — (2) Amortization of prior service benefit 212 212 Settlement gain — (2,409) Net periodic pension (benefit) cost (72) (2,136) POSTRETIREMENT MEDICAL PLANS Three months ended (Thousands of Dollars) December 29, December 24, Service cost for benefits earned during the period 1 13 Interest cost on projected benefit obligation 108 149 Expected return on plan assets (410) (320) Amortization of net gain (292) (308) Amortization of prior service benefit (71) (94) Curtailment gain — (1,184) Net periodic postretirement benefit (664) (1,744)

(Loss) Earnings Per Common Sh_2

(Loss) Earnings Per Common Share (Tables)	3 Months Ended
	Dec. 29, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted (loss) earnings per common share: Three months ended (Thousands of Dollars and Shares, Except Per Share Data) December 29, December 24, (Loss) income attributable to Lee Enterprises, Incorporated: (16,748) 688 Weighted average common shares 6,192 6,080 Less weighted average restricted Common Stock (204) (170) Basic average common shares 5,988 5,910 Dilutive restricted Common Stock — 26 Diluted average common shares 5,988 5,936 (Loss) earnings per common share: Basic (2.80) 0.12 Diluted (2.80) 0.12

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details)	Dec. 29, 2024
TNI Partners
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	50%
MNI
Noncontrolling Interest [Line Items]
Equity method investment, ownership percentage	50%
INN Partners, L.C.
Noncontrolling Interest [Line Items]
Noncontrolling interest, ownership percentage by parent	82.50%

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Operating revenue:
Total operating revenue	$ 144,562	$ 155,678
Advertising and marketing services revenue
Operating revenue:
Total operating revenue	66,590	70,887
Advertising and marketing services revenue | Print advertising revenue
Operating revenue:
Total operating revenue	19,861	24,435
Advertising and marketing services revenue | Digital advertising and marketing services revenue
Operating revenue:
Total operating revenue	46,729	46,452
Subscription revenue
Operating revenue:
Total operating revenue	64,997	71,339
Subscription revenue | Print advertising revenue
Operating revenue:
Total operating revenue	43,432	51,872
Subscription revenue | Digital advertising and marketing services revenue
Operating revenue:
Total operating revenue	21,565	19,467
Other revenue
Operating revenue:
Total operating revenue	12,975	13,452
Other revenue | Print advertising revenue
Operating revenue:
Total operating revenue	7,888	8,492
Other revenue | Digital advertising and marketing services revenue
Operating revenue:
Total operating revenue	$ 5,087	$ 4,960

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Sep. 29, 2024	Sep. 24, 2023
Revenue from Contract with Customer [Abstract]
Contract liability revenue recognized	$ 19,400
Accounts receivable, excluding allowance for credit loss	65,400	$ 67,200
Allowance for credit loss	$ 5,865	$ 6,514	$ 5,260

Revenue - Allowance for Credit

Revenue - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 29, 2024	Dec. 24, 2023	Sep. 29, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of year	$ 6,514	$ 5,260	$ 5,260
Additions charged to expense	3,474	$ 3,724	13,633
Deductions from reserves	(4,123)		(12,379)
Balance, end of year	$ 5,865		$ 6,514

Investments In Associated Com_3

Investments In Associated Companies - Summarized Financial Results (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Schedule of Equity Method Investments [Line Items]
Operating revenue	$ 144,562	$ 155,678
Operating expenses	149,036	149,386
Restructuring costs	5,150	4,265
Depreciation and amortization	6,265	7,295
Operating income	(3,352)	7,833
Net income	(16,224)	1,233
Equity in earnings of associated companies	1,122	1,541
TNI Partners
Schedule of Equity Method Investments [Line Items]
Operating revenue	6,533	6,991
Operating expenses	5,206	4,681
Operating income	1,327	2,310
MNI
Schedule of Equity Method Investments [Line Items]
Operating revenue	9,759	10,602
Operating expenses	7,455	7,810
Restructuring costs	0	61
Depreciation and amortization	90	120
Operating income	2,214	2,611
Net income	994	772
TNI Partners
Schedule of Equity Method Investments [Line Items]
Net income	1,250	1,155
Equity in earnings of associated companies	625	578
MNI
Schedule of Equity Method Investments [Line Items]
Equity in earnings of associated companies	$ 497	$ 386

Investments In Associated Com_4

Investments In Associated Companies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
MNI
Schedule of Equity Method Investments [Line Items]
Equity method investments, ownership percentage	50%
TNI Partners
Schedule of Equity Method Investments [Line Items]
Distribution from equity method investments	$ 0.5	$ 1.2
MNI
Schedule of Equity Method Investments [Line Items]
Distribution from equity method investments	$ 0.9	$ 0.4

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets -Schedule of Goodwill and Identified Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 29, 2024	Sep. 29, 2024
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 328,040	$ 329,504
Allocated to sold operations	(4,182)	(1,464)
Goodwill, end of period	323,858	328,040
Amortizable intangible assets:
Total intangibles, net	390,458	398,115
Mastheads
Non-amortized intangible assets:
Mastheads	10,917	10,917
Customer and newspaper subscriber lists
Amortizable intangible assets:
Customer and newspaper subscriber lists	262,146	262,242
Less accumulated amortization	(206,463)	(203,084)
Amortizable intangible assets, net	$ 55,683	$ 59,158

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 29, 2024	Sep. 29, 2024
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	10 years
Allocated to sold operations	$ 4,182	$ 1,464
Non Core Operations
Finite-Lived Intangible Assets [Line Items]
Allocated to sold operations	$ 4,200

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Dec. 29, 2024	Sep. 29, 2024
Debt Instrument [Line Items]
Principal Debt Payments	$ 0
Current maturities of long-term debt	$ 0	$ 0
Credit Agreement | Secured Term Loan | BH Finance
Debt Instrument [Line Items]
Long-term debt, term (years)	25 years
Long-term debt	$ 445,900,000
Long-term debt, interest rate	9%
Credit Agreement | Secured Term Loan | BH Finance | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value	$ 383,300,000

Pension, Postretirement and P_3

Pension, Postretirement and Postemployment Defined Benefit Plans - Narrative (Details)	3 Months Ended
	Dec. 29, 2024 USD ($) plan	Dec. 24, 2023 USD ($)	Sep. 29, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans | plan	1
Multiemployer plans, withdrawal obligation	$ 23,300,000		$ 23,600,000
Multiemployer plans, withdrawal obligation, period (years)	20 years
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, contributions by employer	$ 0	$ 0
Defined benefit plan, expected future employer contributions, next fiscal year	$ 0

Pension, Postretirement and P_4

Pension, Postretirement and Postemployment Defined Benefit Plans - Net Periodic Cost (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost for benefits earned during the period	$ 1	$ 1
Interest cost on projected benefit obligation	2,034	2,515
Expected return on plan assets	(2,319)	(2,453)
Amortization of net (gain) loss	0	(2)
Amortization of prior service benefit	212	212
Settlement gain	0	(2,409)
Pension and postretirement medical benefit	(72)	(2,136)
Postretirement Medical Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost for benefits earned during the period	1	13
Interest cost on projected benefit obligation	108	149
Expected return on plan assets	(410)	(320)
Amortization of net (gain) loss	(292)	(308)
Amortization of prior service benefit	(71)	(94)
Curtailment gain	0	(1,184)
Pension and postretirement medical benefit	$ (664)	$ (1,744)

Income Taxes (Details)

Income Taxes (Details) $ in Thousands	3 Months Ended
	Dec. 29, 2024 USD ($) jurisdiction	Dec. 24, 2023 USD ($)
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,243	$ 248
Income (loss) before taxes	$ (13,000)	$ 1,500
Effective income tax rate	(25.00%)	16.70%
Number of state and local jurisdictions | jurisdiction	30

(Loss) Earnings Per Common Sh_3

(Loss) Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 29, 2024	Dec. 24, 2023
Earnings Per Share [Abstract]
(Loss) income attributable to Lee Enterprises, Incorporated:	$ (16,748)	$ 688
Weighted average common shares (in shares)	6,192	6,080
Less weighted average restricted common stock (in shares)	(204)	(170)
Basic average common shares (in shares)	5,988	5,910
Dilutive restricted common stock (in shares)	0	26
Diluted average common shares (in shares)	5,988	5,936
(Loss) earnings per common share:
Basic (in dollars per share)	$ (2.80)	$ 0.12
Diluted (in dollars per share)	$ (2.80)	$ 0.12

(Loss) Earnings Per Common Sh_4

(Loss) Earnings Per Common Share - Narrative (Details)	3 Months Ended
	Dec. 29, 2024 shares	Dec. 24, 2023 shares	Mar. 28, 2024 $ / shares shares
Subsequent Event [Line Items]
Anti-dilutive shares excluded (in shares)	0	128,019
Rights Agreement
Subsequent Event [Line Items]
Dividends declared, number of preferred share purchase rights			1
Class of warrant or right, exercise price of warrants or rights (in dollars per share) | $ / shares			$ 90
Class of warrant or right, number of securities called by each warrant or right (in shares)			0.001
Preferred share purchase rights, terms of exercisability, ownership percentage			0.15
Preferred share purchase rights, discount rate for purchase of additional shares, percentage			0.50
Preferred stock purchase rights, number of common shares issued in lieu of discount			1

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	Dec. 29, 2024 USD ($)
VPPA Class Action
Loss Contingencies [Line Items]
Amount of loss contingency liability	$ 9.5