Lee Enterprises, the news platform active in 75 markets, reported a continuing decline in print revenue in its Q4 and an increase in digital that does not quite make up the difference. But CEO Kevin Mowbray says, “We are on a clear path to becoming sustainable solely from the revenue and cash flow from our digital products.”
Digital revenue hit $73 million in Q4, a 14% increase YoY, making up 44% of Lee’s total operating revenue of $164 million (a lower number than forecast, investment analysts say). Revenue for the year fell by 11.5% to $691 million, according to the outlook, but digital grew to $273 million, up from $239 million in 2022.
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