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Mary Junck, chairman and chief executive said the board considered currentmarket conditions, businesd forecasts and other factors that couldx affect shareholder value, includingh the prospect of remaining in compliance with ruled for continued listing. The NYSE notified Lee (NYSE: LEE) in December 2008 that the companyu was not in compliance with its continued listing standare of atleast $1 a share. Sinc e then, the NYSE announced that the standarde has been temporarily suspended throughJuly 31. As a Lee has until Dec. 3, 2009, to returbn to compliance. Lee was trading at 55 cents a shareWednesday morning.
In February, the Davenport, Iowa-basexd company it took on when it boughtthe Post-Dispatch and restructure future payments under its $1.1 billion bank financingb arrangements. The remaining debt balance of $186 million has been refinances by the lendersuntil 2012. Newspaper publishers nationwid e are struggling with declining advertisin revenue as readers flock tothe Internet.
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