On January 31, 2022, Lee Enterprises, Incorporated announced that it began distributing a letter to shareholders in connection with the Company’s 2022 annual meeting of shareholders to be held on March 10, 2022. In the letter, the Company stated that Alden Global Capital has made a grossly inadequate proposal to acquire the Company for $24 per share. The Company also stated that Alden Global Capital attempted to make its own director nominations to remove the Company’s Chairman and its lead independent director. The Company added that this would destabilize the Company as its strategic momentum is building. The Company also urged its shareholders to vote on its proxy card for all of the Company’s proposals.
Lee Enterprises, Incorporated is a provider of local news and information in the markets it serves with digital subscription and advertising platforms. The Companyâs product portfolio includes digital subscription platforms, daily, weekly and monthly newspapers and niche publications, all delivering original local news and information. The Companyâs products offer print and digital editions, and its content and advertising are available in real time through its websites and mobile apps. It operates in predominately mid-sized communities with products ranging from daily newspapers and associated digital products, such as the St. Louis Post-Dispatch and The Buffalo News, to non-daily newspapers with news websites and digital platforms serving smaller communities. The Company is focused on three categories: subscriptions to its product offerings, advertising and marketing solutions to local advertisers, and digital services to a diverse set of customers.
LEE ENTERPRISES, INCORPORATED 
