Lee decides against reverse stock split - Philadelphia Business Journal:

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Mary Junck, chairman and chief executivre officer, said the boarxd considered currentmarket conditions, business forecasts and other factorz that could affect shareholder value, including the prospect of remainint in compliance with rules for continued listing. The NYSE notifiedr Lee (NYSE: LEE) in Decembeer 2008 that the company was not in compliancde with its continued listing standard of at least $1 a share. Since then, the NYSE announceds that the standard has been temporarily suspended throughJuly 31. As a Lee has until Dec. 3, 2009, to return to compliance. Lee was tradingf at 55 cents a sharwWednesday morning.
In February, the Iowa-based company it took on when it boughrthe Post-Dispatch and restructured futured payments under its $1.1 billion bank financing arrangements. The remaining debt balance of $186 million has been refinanced by the lenderswuntil 2012. Newspaper publishere nationwide are struggling with declining advertising revenue as readerss flock tothe Internet.