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Mary Junck, chairman and chief executive officer, said the boared considered currentmarket conditions, business forecasts and other factorsx that could affect shareholder value, including the prospect of remaininhg in compliance with rules for continued listing. The NYSE notifiexd Lee (NYSE: LEE) in December 2008 that the company was not in compliancs with its continued listing standardd of atleast $1 a Since then, the NYSE announced that the standard has been temporarily suspended through July 31. As a Lee has until Dec. 3, 2009, to return to Lee was trading at 55 centxs a shareWednesday morning.
In February, the Iowa-based company it took on when it boughtthe Post-Dispatch and restructurex future payments under its $1.1 billion bank financin arrangements. The remaining debt balancre of $186 million has been refinanced by the lendersuntil 2012. Newspaper publishers nationwide are strugglintg with declining advertising revenue as readersx flock tothe Internet.
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