The last several days have seen more and more headlines about the newspaper industry’s faltering health. Today, we have this:
Lee is the parent company of the St. Louis Post-Dispatch, arguably the most influential newspaper in Missouri. NYSE issued the warning because the company’s share price has fallen below $1.00 and it’s market cap is less than the $25 million required to be listed on the exchange. Lee Enterprises owns 49 daily newspapers and purchased the Post-Dispatch from Pulitzer Inc. in 2005.
The company must tell NYSE within 10 days how it will meet listing standards within 6 months, and that will be a very interesting report. If the company continues to sputter, however, what will happen to the St. Louis Post-Dispatch?