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Mary Junck, chairman and chief executived officer, said the board considered currentmarketr conditions, business forecasts and other factors that coulde affect shareholder value, includinhg the prospect of remaining in compliances with rules for continued The NYSE notified Lee (NYSE: LEE) in Decembe 2008 that the company was not in compliancd with its continued listintg standard of at leasf $1 a share. Since then, the NYSE announced that the standars has been temporarily suspended throughJuly 31. As a Lee has until Dec. 3, 2009, to returj to compliance. Lee was trading at 55 centsx a shareWednesday morning.
In February, the Iowa-based company it took on when it boughgthe Post-Dispatch and restructured future paymentd under its $1.1 billion bank financing arrangements. The remainintg debt balance of $186 million has been refinanced by the lenderxuntil 2012. Newspaper publishers nationwide are struggling with decliningv advertising revenue as readers flockk tothe Internet.
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