Lee Enterprises reported a 95% year-over-year increase in second-quarter adjusted EBITDA to $15 million [1].
The results signal a continuing shift in the company's business model toward digital platforms as traditional print revenues face long-term decline.
Joe Battistoni, vice president of audience strategy and revenue, said adjusted EBITDA for the last 12 months reached $57 million [1]. The surge in quarterly performance contributes to a broader strategy to stabilize the media company's financial footing through digital transformation.
Digital-only subscription revenue now represents 56% of total revenue [2]. This milestone reflects the company's efforts to migrate its audience to paid digital products, reducing reliance on physical distribution, and print advertising.
Nathan Bekke, CEO, president and COO, said the company is reaffirming its full-year outlook of adjusted EBITDA growth in the mid-single digits [2]. The reaffirmation suggests that executives expect the current momentum to persist through the remainder of the fiscal year.
These figures were detailed during an earnings call on Thursday, May 7, 2026, where leadership outlined the company's current trajectory [1]. The 95% increase in quarterly EBITDA underscores a volatile but recovering period for the organization's bottom line [1].
“Digital-only subscription revenue now represents 56% of total revenue.”
The transition of more than half of Lee Enterprises' revenue to digital subscriptions marks a critical pivot for the company. By decoupling its primary income from the declining print market, the company is attempting to build a more sustainable, recurring revenue stream that can support mid-single-digit growth despite the systemic challenges facing the regional news industry.
