Free Republic

Lee Enterprises Inc. took a goodwill impairment charge of $772 million in a revised financial report that pushed its loss to $716.4 million, or $15.90 per share, for its second fiscal quarter ended March 30. The new figures, disclosed in a Securities and Exchange Commission filing late Wednesday, revised a report in April that had indicated a loss of $4.45 million, or 10 cents a share, for the quarter. In addition to the taking the non-cash goodwill impairment charge, Lee recorded a $115.97 million charge to reduce the carrying value of amortized intangibles, and a charge of $3 million to...

Memo from St. Louis Post-Dispatch publisher August 2, 2007 Dear Colleagues: As you know, 2007 is proving to be a difficult year for the newspaper industry. While St Louis is performing well in a tough operating environment with many successful revenue initiatives in place, we need to continue to look at costs as we face challenges in key revenue categories. Thanks to many of your efforts, we have been controlling costs for some time now, having made significant cuts throughout the year. But because such a large part of our costs are in labor, we thought we needed to look...