The Dispatch-Argus publishes seven days a week and has a circulation of 25,000.Īccording to the news release from Lee Enterprises, "the Dispatch-Argus will maintain its editorial independence," and Deb Anselm, publisher of the Quad City Times, will succeed Gerald J. The Daily Dispatch in Moline was purchased by the Small Newspaper Group, based in Kankakee, IL in 1969, and the Dispatch acquired the Rock Island Argus in 1986. The $7.15 million acquisition (including an adjustment for working capital) was announced today (6/19) and is expected to close by the end of the month.ĬLICK HERE for observations on the newspaper sale by John Beydler, who recently retired from the Dispatch-Argus after a career of more than 40 years. We do not undertake to publicly update or revise our forward-looking statements, except as required by law.More than 150 years of newspaper competition in the Quad Cities will draw to an end later this month with purchase of the Dispatch-Argus and its digital portal by Lee Enterprises, Inc., owner of the Quad City Times. Readers are cautioned not to place undue reliance on such forward-looking statements, which are made as of the date of this release. Any statements that are not statements of historical fact (including statements containing the words “may”, “will”, “would”, “could”, “believes”, “expects”, “anticipates”, “intends”, “plans”, “projects”, “considers” and similar expressions) generally should be considered forward-looking statements. A list of such risks, trends and other uncertainties is included in quarterly and annual reports and other financial filings, and also can be viewed at lee.net. This 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. For more information about Lee, please visit lee.net.įORWARD-LOOKING STATEMENTS - The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Lee Common Stock is traded on the New York Stock Exchange under the symbol LEE. Louis, MO Lincoln, NE Madison, WI Davenport, IA Billings, MT Bloomington, IL and Tucson, AZ. Lee's newspapers have combined circulation of 0.9 million daily and 1.2 million Sunday, reaching an estimated nearly 3 million readers in print alone. Lee Enterprises is a leading provider of local news and information, and a major platform for advertising, with daily newspapers, rapidly growing digital products and nearly 300 weekly and specialty publications serving 49 markets in 21 states. It is owned by the Small Newspaper Group, based in Kankakee, IL. The Dispatch-Argus publishes seven mornings a week, with a combined average daily circulation of more than 25,000. We expect the acquisition to provide immediate value, accretive to both earnings and free cash flow.” “It is adjacent to two of our Iowa enterprises, in Davenport and Muscatine, so this will expand our audiences and create additional synergy opportunities. “The Dispatch-Argus is a perfect strategic fit for Lee,” said Lee President and Chief Executive Officer Kevin Mowbray. The sale is expected to close later this month. The purchase price is $7.15 million, including an adjustment for working capital. DAVENPORT, Iowa, J(GLOBE NEWSWIRE) - Lee Enterprises, Incorporated (NYSE:LEE), a major provider of local news, information and advertising in 49 markets, announced today an agreement to purchase the assets of the Dispatch-Argus, including and related publications serving Moline, Rock Island and dozens of other communities in western Illinois.
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