• Lee Enterprises entered a management agreement with Hoffmann Media Group to run certain newspaper titles and related digital properties owned by Hoffmann.
• The initial term runs from June 1, 2026 through May 31, 2031, with potential one-year extensions by mutual agreement.
• Hoffmann will pay a fixed management fee of 135,000 per fiscal quarter for publications owned at the start date.
• The deal also includes a variable fee equal to 20% of the prior quarter’s EBITDA tied to publications Hoffmann acquires after the start date.
• Revenue from the publications will remain with Hoffmann, which will also retain responsibility for working capital, accounts payable, payroll, and related taxes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Lee Enterprises Incorporated published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000058361-26-000046), on May 20, 2026, and is solely responsible for the information contained therein.