Several companies have or will soon release earnings reports for the most recent quarter.
• A. H. Belo, parent of The Dallas Morning News, reported a $2.8 million net loss for the first three months of this year, compared with a $1.6 million loss for the same time a year ago. The company has offered voluntary severance packages to workers in non-newsroom departments, says the Dallas Morning News. Belo also said it has a nonbinding agreement with Ray Washburne’s Charter DMN Holdings to push his buy of The News’ former headquarters to June 30, 2022. Charter has a $22.4 million payment due this June.
• Lee Enterprises has scheduled an audio webcast and conference call for May 6 at 9 a.m. CST. Lee plans to issue a news release before market open that day with preliminary results for its second fiscal quarter ended March 28. Since April 19, Lee common stock has been traded on the NASDAQ under the symbol LEE.
Lee shuttering Virginia plant
Lee Enterprises says it’s shuttering its Print Innovators printing plant in Fredericksburg, Virginia, on Aug. 1, The Free Lance–Star reported.
Printing of Lee’s Free Lance–Star will move to a Lee facility in Hanover County, Virginia. The newsgathering and daily delivery operations of The Free Lance–Star will stay in Fredericksburg, the paper said.
Print Innovators staff and commercial clients of the 11-year-old facility were told of the move April 30, the paper said.
Saga over Tribune Publishing’s fate continues
The fate of Tribune Publishing continues to unfold, the Chicago Tribune reports.
Maryland hotel mogul Stewart Bainum Jr. has pledged more of his own money to his bid for Tribune Publishing, but there are complications, the Chicago Tribune reports.
Shareholders meet May 21 to vote on a deal to sell the Chicago-based chain to New York hedge fund Alden Global Capital for $633 million.
California firm has winning bid for Ponderay Newsprint Mill
Allrise Capital, of Irvine, California, had the winning bid of $18.1 million for the shuttered Ponderay Newsprint Mill in Usk, Washington, The Spokesman-Review reported.
Their bid topped two other bids, one from PPL Acquisition Group and the other from the Kalispel Tribe of Indians.
Ponderay Newsprint closed in 2020 and the owners filed for bankruptcy protection.
Concerns have come up from local public utility officials about possible intentions to use power slated to the mill for cryptocurrency mining, The Spokesman-Review reported.
Sun Chemical to raise prices on publication inks in North America
Sun Chemical will raise prices across its portfolio of publication inks in North America, effective June 1.
The continued escalation of raw material costs, increasing international and domestic freight rates and shortages of key material inputs into the printing ink supply chain have contributed to the increase, says the company.
Sun Chemical will communicate specific increases directly with customers.
Sun Chemical is a subsidiary of Sun Chemical Group Cooperatief, the Netherlands, and is headquartered in Parsippany, New Jersey.
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