Key Highlights
- Quint Digital Limited has completed the acquisition of a 14.451% stake in Lee Enterprises.
- The acquisition involved 2.45 million shares purchased through a private placement.
- Total transaction value stood at $7.97 million on a cash consideration basis.
- Lee Enterprises reported operating revenue of $562.34 million in FY25.
Quint Digital Limited has completed the acquisition of a strategic equity stake in Lee Enterprises Incorporated, a United States–based media and publishing company listed on Nasdaq, according to a regulatory disclosure.
The transaction involved the purchase of 2,451,346 common shares of Lee Enterprises through a private placement route. Following the completion of the acquisition, Quint Digital now holds a 14.451% equity stake in the American media company.
The shares were acquired at an approximate price of $3.25 per share, taking the total transaction value to about $7.97 million. The consideration for the acquisition was paid entirely in cash.
Lee Enterprises operates as a major local news, subscription, and advertising platform in the United States, with a strong presence across print publications and fast-growing digital media products. For the financial year ended September 2025, the company reported consolidated operating revenue of $562.34 million, compared with $611.38 million in FY24 and $691.14 million in FY23, reflecting a year-on-year decline in revenues.
The proceeds from the investment will be utilised by Lee Enterprises for working capital requirements and general corporate purposes. The acquisition does not qualify as a related-party transaction, and no regulatory or governmental approvals were required. The transaction has been fully completed.
Founded in 1890 and headquartered in Davenport, Iowa, Lee Enterprises focuses on delivering trusted local journalism and digital advertising solutions across multiple regional markets in the United States, with an increasing emphasis on digital subscriptions and audience engagement.