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Lee Enterprises Gets Debt Waivers, Avoids Default — For Now

Lee Enterprises (NYSE: LEE) has received a waiver on debt payments that were due last Friday, allowing the owner of the St. Louis Post-Dispatch to avoid default. The waivers, which the Davenport, Iowa-based publisher had been seeking since last month, gives Lee until Jan. 30 to make its next payment. Without the waivers, Lee could have faced an accelerated repayment schedule on its outstanding debt. The waivers specifically cover $306 million of senior notes related to its purchase of Pulitzer Inc., the parent of the Post-Dispatch. Lee borrowed about $1.5 billion three years ago to buy the company. Release

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