Lee Enterprises, parent company of The Times Media Co., reported a $14.7 million profit for the quarter that ended Dec. 30, or 28 cents a share, up from a $14.6 million profit a year ago, or 32 cents a share.
Lee's print and digital advertising revenue declined 6.3 percent to $128.7 million in the first quarter. Circulation revenue, including digital subscriptions, rose 3.9 percent in the quarter.
Lee reduced its debt by $29 million in the quarter, with a balance of $916.9 million, putting it a year ahead of its debt reduction projections, the company said
Davenport, Iowa-based Lee is the owner of 47 daily newspapers including The Times and The St. Louis Post-Dispatch. It also owns a joint interest in four other newspapers.
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