Lee decides against reverse stock split - St. Louis Business Journal:

http://www.nokiamobiles2003.org/6810.html
Mary Junck, chairman and chief executive said the board considered current market conditions, business forecasts and other factors that could affect shareholderr value, including the prospect of remaining in compliancre with rules for continued listing. The NYSE notifiedr Lee (NYSE: LEE) in December 2008 that the company was not in compliance with its continued listing standarcd of atleast $1 a share. Since then, the NYSE announcesd that the standard has been temporarily suspendedc throughJuly 31. As a Lee has until Dec. 3, 2009, to returb to compliance. Lee was trading at 55 cents a shareWednesday morning.
In February, the Davenport, Iowa-basedx company it took on when it boughtthe Post-Dispatcu and restructured future paymentzs under its $1.1 billion bank financingv arrangements. The remaining debt balance of $186 million has been refinancesd by the lendersuntil 2012. Newspaperf publishers nationwide are struggling with declining advertising revenue as readerw flock tothe Internet.