Kevin Mowbray Announces Retirement, Nathan Bekke to Serve as Interim CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 30 2025
0mins
Should l Buy LEE?
Concurrently with the execution of the stock purchase agreement, Kevin Mowbray, the company's President and CEO, has announced his retirement. The company expects the current COO Nathan Bekke, to serve as Interim CEO, and the Board has initiated a search for a permanent CEO.
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Analyst Views on LEE
About LEE
Lee Enterprises, Incorporated is a subscription and advertising platform and a provider of local news and information, with daily newspapers, digital products and nearly 350 weekly and specialty publications serving 73 markets in 26 states. The Company offers a range of subscription options, including digital-only subscriptions, full-access subscriptions, and single-copy sales. Its diverse portfolio includes digital subscription platforms, daily, weekly, and monthly newspapers, and niche products. These products are accessible in both digital and print formats. It provides comprehensive advertising and marketing services to local, regional, and national businesses. Its digital-only subscriptions segment offers access to its content exclusively through digital platforms. Its full-access subscriptions provide comprehensive access to its content across multiple platforms, including print editions (delivered or available for pickup), Websites, smartphone and tablet apps, and e-editions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Lee Enterprises Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Lee Enterprises has scheduled an audio webcast and conference call for February 10, 2026, at 9 a.m. Central Time to release preliminary results for the quarter ended December 28, 2025, aimed at providing investors with the latest financial insights.
- Investor Participation: Investors can access the live webcast through the Investor Relations section of Lee's website, and upon registration, they will receive a dial-in number and unique PIN, ensuring smooth participation and enhancing engagement with investors.
- Replay Availability: The live webcast will be available for replay 24 hours after the call, allowing investors who cannot attend in real-time to access key information, reflecting the company's commitment to transparency and information sharing.
- Company Background: Lee Enterprises operates in 72 markets, providing high-quality local news and information with nearly 350 weekly and specialty publications, dedicated to delivering valuable local news to communities, thereby strengthening its position in the advertising and subscription platform market.
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- Shareholder Support: Existing shareholders are contributing the remaining $15 million, ensuring the successful execution of this private placement, while Hoffmann has agreed to fully backstop the transaction, guaranteeing the company receives the full funding.
- Debt Rate Reduction: This financing is expected to trigger an amendment to Lee's existing credit facility, reducing the interest rate on approximately $455.5 million of long-term debt from 9% to 5% over the next five years, which will materially improve cash flow and alleviate financial pressure.
- Board Changes: As part of the deal, Hoffmann is expected to become chair of the board, which may bring new strategic direction and optimize the governance structure of the company.
See More
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- Financial Structure Improvement: This investment will reduce the annual interest rate on approximately $455.5 million of long-term debt from 9% to 5%, significantly enhancing the company's capital structure and cash flow outlook, thereby bolstering financial stability.
- Leadership Change: Following the retirement announcement of CEO Kevin Mowbray, COO Nathan Bekke is expected to serve as interim CEO, with the board initiating a search for a permanent CEO to clarify the company's strategic direction.
- Board Decision: The board unanimously approved the transaction, emphasizing that strengthening the balance sheet and implementing leadership changes are essential for improving execution and long-term value creation, reflecting the company's strong confidence in future growth.
See More
Lee Enterprises Secures $50 Million Strategic Equity Investment
- Strategic Investment: Lee Enterprises has entered into a $50 million stock purchase agreement with David Hoffmann at an investment price of $3.25 per share, providing robust capital support to propel the company into its next growth phase.
- Financial Structure Improvement: This investment will reduce the annual interest rate on approximately $455.5 million of the company's long-term debt from 9% to 5%, significantly enhancing the company's capital structure and cash flow outlook, thereby bolstering financial stability.
- Leadership Change: CEO Kevin Mowbray has announced his retirement, with current COO Nathan Bekke expected to serve as interim CEO, as the board initiates a search for a permanent CEO to clarify the company's strategic direction.
- Shareholder Support: The board unanimously approved the transaction and entered into voting agreements with key shareholders, demonstrating strong confidence in the company's future and ensuring the smooth execution of the deal.
See More
Lee Enterprises Reschedules Special Meeting to December 19, 2025
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- Proposal Consistency: Despite the rescheduling, all proposals expected to be voted on will proceed as previously disclosed, ensuring that shareholders retain their voting rights regarding the company's future direction.
- Proxy Voting Clarification: Shareholders who have already submitted proxies do not need to take further action unless they wish to change their vote, which simplifies the voting process and reduces confusion among shareholders.
- Transparency Emphasis: The company urges shareholders to carefully read the Definitive Proxy Statement filed on November 13, 2025, to obtain detailed information about the Special Meeting, ensuring that shareholders are fully informed about the proposals to be voted on.
See More
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- Meeting Rescheduling: Lee Enterprises has postponed its Special Meeting of Stockholders originally set for December 4, 2025, to December 19, 2025, aiming to provide more time for shareholder engagement, which will enhance voting participation and shareholder satisfaction.
- Proposal Consistency: Despite the rescheduling, all proposals expected to be voted on will proceed as previously disclosed, ensuring that shareholders can vote on the company's future direction within the established framework.
- Proxy Voting Clarification: Shareholders who have already submitted proxies do not need to take further action unless they wish to change their vote, simplifying the participation process and lowering the barriers for shareholder involvement.
- Enhanced Transparency: The company has filed a Definitive Proxy Statement with the SEC on November 13, providing detailed information about the Special Meeting, emphasizing the importance of transparency and compliance to bolster shareholder trust in corporate governance.
See More
Lee Enterprises Schedules Q4 2025 Earnings Call
- Earnings Call Announcement: Lee Enterprises has scheduled an audio webcast and conference call for February 10, 2026, at 9 a.m. Central Time to release preliminary results for the quarter ended December 28, 2025, aimed at providing investors with the latest financial insights.
- Investor Participation: Investors can access the live webcast through the Investor Relations section of Lee's website, and upon registration, they will receive a dial-in number and unique PIN, ensuring smooth participation and enhancing engagement with investors.
- Replay Availability: The live webcast will be available for replay 24 hours after the call, allowing investors who cannot attend in real-time to access key information, reflecting the company's commitment to transparency and information sharing.
- Company Background: Lee Enterprises operates in 72 markets, providing high-quality local news and information with nearly 350 weekly and specialty publications, dedicated to delivering valuable local news to communities, thereby strengthening its position in the advertising and subscription platform market.
See More
Lee Enterprises Secures $50 Million Strategic Investment at $3.25 per Share
- Financial Stabilization: Lee Enterprises has secured a $50 million strategic equity investment aimed at stabilizing its finances and improving long-term performance, with investor David Hoffmann committing approximately $35 million, reflecting strong confidence in the company.
- Shareholder Support: Existing shareholders are contributing the remaining $15 million, ensuring the successful execution of this private placement, while Hoffmann has agreed to fully backstop the transaction, guaranteeing the company receives the full funding.
- Debt Rate Reduction: This financing is expected to trigger an amendment to Lee's existing credit facility, reducing the interest rate on approximately $455.5 million of long-term debt from 9% to 5% over the next five years, which will materially improve cash flow and alleviate financial pressure.
- Board Changes: As part of the deal, Hoffmann is expected to become chair of the board, which may bring new strategic direction and optimize the governance structure of the company.
See More
Lee Enterprises Secures $50 Million Strategic Equity Investment
- Capital Injection: Lee Enterprises has entered into a stock purchase agreement for a $50 million investment at $3.25 per share, providing robust capital support that will facilitate the company's transition into its next growth phase.
- Financial Structure Improvement: This investment will reduce the annual interest rate on approximately $455.5 million of long-term debt from 9% to 5%, significantly enhancing the company's capital structure and cash flow outlook, thereby bolstering financial stability.
- Leadership Change: Following the retirement announcement of CEO Kevin Mowbray, COO Nathan Bekke is expected to serve as interim CEO, with the board initiating a search for a permanent CEO to clarify the company's strategic direction.
- Board Decision: The board unanimously approved the transaction, emphasizing that strengthening the balance sheet and implementing leadership changes are essential for improving execution and long-term value creation, reflecting the company's strong confidence in future growth.
See More
Lee Enterprises Secures $50 Million Strategic Equity Investment
- Strategic Investment: Lee Enterprises has entered into a $50 million stock purchase agreement with David Hoffmann at an investment price of $3.25 per share, providing robust capital support to propel the company into its next growth phase.
- Financial Structure Improvement: This investment will reduce the annual interest rate on approximately $455.5 million of the company's long-term debt from 9% to 5%, significantly enhancing the company's capital structure and cash flow outlook, thereby bolstering financial stability.
- Leadership Change: CEO Kevin Mowbray has announced his retirement, with current COO Nathan Bekke expected to serve as interim CEO, as the board initiates a search for a permanent CEO to clarify the company's strategic direction.
- Shareholder Support: The board unanimously approved the transaction and entered into voting agreements with key shareholders, demonstrating strong confidence in the company's future and ensuring the smooth execution of the deal.
See More
Lee Enterprises Reschedules Special Meeting to December 19, 2025
- Meeting Rescheduling: Lee Enterprises has postponed its Special Meeting of Stockholders originally set for December 4, 2025, to December 19, 2025, aiming to provide more time for stockholder engagement, which will enhance voting participation and shareholder involvement.
- Proposal Consistency: Despite the rescheduling, all proposals expected to be voted on will proceed as previously disclosed, ensuring that shareholders retain their voting rights regarding the company's future direction.
- Proxy Voting Clarification: Shareholders who have already submitted proxies do not need to take further action unless they wish to change their vote, which simplifies the voting process and reduces confusion among shareholders.
- Transparency Emphasis: The company urges shareholders to carefully read the Definitive Proxy Statement filed on November 13, 2025, to obtain detailed information about the Special Meeting, ensuring that shareholders are fully informed about the proposals to be voted on.
See More
Lee Enterprises Postpones Special Meeting to December 19, 2025
- Meeting Rescheduling: Lee Enterprises has postponed its Special Meeting of Stockholders originally set for December 4, 2025, to December 19, 2025, aiming to provide more time for shareholder engagement, which will enhance voting participation and shareholder satisfaction.
- Proposal Consistency: Despite the rescheduling, all proposals expected to be voted on will proceed as previously disclosed, ensuring that shareholders can vote on the company's future direction within the established framework.
- Proxy Voting Clarification: Shareholders who have already submitted proxies do not need to take further action unless they wish to change their vote, simplifying the participation process and lowering the barriers for shareholder involvement.
- Enhanced Transparency: The company has filed a Definitive Proxy Statement with the SEC on November 13, providing detailed information about the Special Meeting, emphasizing the importance of transparency and compliance to bolster shareholder trust in corporate governance.
See More
