Cloudy forecast for the Post-Dispatch...
... but as Annie sang, the sun could come out tomorrow. Lee Enterprises' annual report listed its auditor's finding that questioned the company's ability to remain "a going concern." Even so, media analyst Alan D. Mutter notes that Lee still produces a larger operating profit, percentage-wise than Exxon. The problem is the debt Lee took on to purchase Pulitzer properties, including the Post-Dispatch in 2005. Here are links to Mutter's analysis and others that describe the situation.What's next for Lee -- Allen Mutter
No champagne for Lee -- Fitz & Jen, an Editor and Publisher blog
Debt trouble at Lee triggers auditor's warning -- Associated Press
-- Dick Weiss
