© 2023 WGLT
A public service of Illinois State University
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Major tech upgrade underway at WGLT. Thanks for your patience!

Pantagraph Owner Reports Increase In Quarterly Earnings

WGLT
Pantagraph Building

The parent company of the Pantagraph newspaper in Bloomington is starting the year on a high note, reporting increased earnings in its last quarter.

Earnings for Iowa-based Lee Enterprises were double what they were last year during the same period. Earnings topped $35 million for the three months ending Dec. 24, compared to $12.4 million last year.

A few factors contributed to this increase, according to company reports. Lee has been chipping away at its large debt, and interest costs fell by more than 9 percent, compared to the same quarter last year. The company has also been cutting its own costs, which are down by almost 9 percent.

Overall revenue for the newspaper chain also saw a drop of nearly 9 percent on a same property basis.

WGLT depends on financial support from users to bring you stories and interviews like this one. As someone who values experienced, knowledgeable, and award-winning journalists covering meaningful stories in central Illinois, please consider making a contribution.

Dania is a reporter at GLT, as well as a student at Illinois State University.
Related Content