LEE ENTERPRISES, Inc — Capital/Financing Update 2016

Sep 27, 2016

8-K 1 a2016dbconference8-k.htm 8-K html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd" Document created using Wdesk 1 Copyright 2016 Workiva Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 27, 2016

___________

LEE ENTERPRISES, INCORPORATED

(Exact name of Registrant as specified in its charter)

___________

Commission File Number 1-6227

Delaware (State of Incorporation) 42-0823980 (I.R.S. Employer Identification No.)

201 N. Harrison Street, Davenport, Iowa 52801

(Address of Principal Executive Offices)

(563) 383-2100

Registrant's telephone number, including area code

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure .

On September 28, 2016, Lee Enterprises, Incorporated will present at Deutsche Bank's 24th Annual Leveraged Finance Conference in Scottsdale, Arizona. It includes remarks by Mary Junck, executive chairman and Ron Mayo, vice president, chief financial officer and treasurer, including:

• The latest independent research affirms that Lee’s print and digital products continue to reach 75% of the adults in its largest markets, with results nearly as strong among ages 18-29.

• Lee continues to drive total digital revenue, up 6.4% in the last twelve months ended June 2016 and 12% annually since 2009.

• Lee has maintained strong Adjusted EBITDA 1 and consistently high margins 1 totaling $157 million and 22.4%, respectively, for the last twelve months ended June 2016.

• Total debt at the end of September 2016 was $617 million, a $108.7 million reduction in fiscal year 2016.

The text of the presentation and illustrations are available at lee.net.

1 Adjusted EBITDA and Margin are non-GAAP (Generally Accepted Accounting Principles) financial measures. See appendix of the presentation, which is available at lee.net.

FORWARD-LOOKING STATEMENTS — The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. 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. 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;

• Our ability to comply with the financial covenants in our credit facilities;

• Our ability to refinance our debt as it comes due;

• That the warrants issued in our refinancing will not be exercised;

• The impact and duration of adverse conditions in certain aspects of the economy affecting our business;

• Changes in advertising and subscription demand;

• Potential changes in newsprint, other commodities and energy costs;

• Interest rates;

• Labor costs;

• Legislative and regulatory rulings;

• Our ability to achieve planned expense reductions;

• Our ability to maintain employee and customer relationships;

• Our ability to manage increased capital costs;

• Our ability to maintain 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”, “believes”, “expects”, “anticipates”, “intends”, “plans”, “projects”, “considers” 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, except as required by law.

Item 9.01. Financial Statements and Exhibits .

(d)
99.1	News Release dated September 27, 2016

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		/s/ Ronald A. Mayo
Date:	September 27, 2016	By:
		Ronald A. Mayo
		Vice President, Chief Financial Officer,
		and Treasurer

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	News Release dated September 27, 2016