The Quint invests 8.4% in Lee Enterprises

The Quint has acquired Lee Enterprises’ 5,13,000 shares

by Team PITCH
Published - February 21, 2024
1 minute To Read
The Quint invests 8.4% in Lee Enterprises

The Quint Digital has invested 8.4 percent in an American firm Lee Enterprises for a value of USD 5.49 million. As per Securities and Exchange Commission’s official document, the number of shares acquired are 5,13,000.  

Lee Enterprises, incorporated under NASDAQ, is a digital-first subscription platform. For the quarter fiscal ended December 24, 2023, Lee had 735,000 subscribers to their digital-only products and digital-only subscription revenue grew 60 percent on a same-store basis, as shared by Kevin Mowbray, Lee's President and Chief Executive Officer.

Total operating revenue for the platform was USD 156 million. The total digital revenue was USD 71 million, an 11 percent increase over the prior year.

Lee's newspapers have an average daily circulation of 1.0 million, and their websites, including acquisitions, reach more than 33 million digital unique visitors, as per the company’s financial result statements. 

The Quint is an independent news and opinion website with Raghav Bahl and Ritu Kapur as the promoters of the company.