secwatch.observer — SEC 8-K summary
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Issuer:     LEE ENTERPRISES, Inc (LEE)
CIK:        0000058361
Form:       8-K
Filed at:   2026-05-20T21:19:15+00:00
Accession:  0000058361-26-000046
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lee Enterprises signs 5-year management agreement to operate Hoffmann Media Group publications
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- Agreement effective June 1, 2026, for 5 years; Lee to manage Hoffmann's newspapers and digital properties across FL, CA, MI, MO, CO and other markets.
- Fixed management fee of $135,000 per quarter for existing publications; variable fee of 20% of quarterly EBITDA from future acquisitions.
- David Hoffmann, majority shareholder and Chairman, recused from Board vote on related-party deal.
- Hoffmann retains revenue and pays shared services at cost; termination allowed if annual EBITDA falls below $1.0 million.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/58361/000005836126000046/0000058361-26-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/58361/000005836126000046/lee-20260514.htm
  HTML page:      https://secwatch.observer/filing/0000058361-26-000046

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer