Total revenue for Davenport-based Lee Enterprises is down for the third quarter ended June 30. The company is earning increasingly more from the digital side of newspapers.
The owner of newspapers and specialty publications in 22 states is reporting a 6.6 percent decrease in total revenue from the previous quarter. But Lee Enterprises Chief Executive Officer Kevin Mowbray says revenue from digital advertising is up nearly eight percent.
“In the June quarter, digital retail advertising represented 29.1 percent of total advertising revenue for the company,” he says.
Mowbray says subscription revenue was up slightly, fueled by an increase in subscription rates. At the end of the quarter, Lee closed on a deal to purchase the Dispatch-Argus across the river in Moline and Rock Island, Ill. Results from the acquisition will show up in the fourth quarter.