Industry News

Distinctly Montana Magazine

Distinctly Montana Magazine has been sold by founder Michael Blevins to Bill Muhlenfeld and Anthea George of Bozeman, Montana, according to John Cribb, Cribb, Greene & Associates, who represented the seller in the transaction.

Distinctly Montana Magazine is a high quality glossy product published quarterly and distributed throughout Montana and most of the nation. The magazine, founded in 2001, is a resource guide for all things Montana and includes local features, literary pieces, and high quality art and photography. Included in the sale is the magazine website at distinctlymontana.com.

According to Anthea George, "Distinctly Montana is a quality publication with a great concept and a focused mission. We look forward as new owners to bringing the best of Montana to residents and visitors alike."

Cribb, Greene & Associates is an eighty-seven year old publishing company merger and acquisition firm with offices in Bozeman, Montana and Charlottesville, Virginia.

Lee Enterprises 3Q Net Up 21 Percent

HoustonChronicle.com (2006)

July 24, 2006

DAVENPORT, Iowa — Newspaper publisher Lee Enterprises Inc. said Thursday its fiscal third-quarter profit rose 21 percent on higher sales, backed by strong online advertising revenue.

Net income for the quarter ended June 30 climbed to $22.7 million, or 50 cents per share, from $18.7 million, or 41 cents per share, in the year-ago period.

Excluding costs related to its June 2005 Pulitzer Inc. acquisition, earnings were $27.9 million, or 61 cents per share, versus $26.4 million, or 58 cents per share, last year. Earnings for both years reflect the impact of a stock compensation expense.

Analysts, on average, expected earnings of 61 cents per share, according to a Thomson Financial survey.

Revenue increased 38 percent to $301.1 million compared to $217.9 million a year ago. Analysts expected sales of $301.5 million.

During the quarter, online ad sales doubled to $10.5 million, while national ad sales surged 88 percent to $13.9 million. Retail ad revenue grew 36 percent to $122 million.

At daily newspapers, employment ad sales rose 42 percent to $24 million, while real estate grew 35 percent to $16.5 million.

Circulation climbed 36 percent to $51.8 million from $38 million.

Total ad revenue rose 41 percent to $234.4 million. This year's results include Pulitzer for the full quarter and for one month in the previous year.

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