LEE - Lee targets 900K digital-only subscribers in upcoming five-years; transfer listing to NASDAQ

In its digital transformation and growth strategy, Lee Enterprises ([[LEE]] -0.9%) plans to will expand subscriber base, grow its base of annualized recurring revenue, drive new revenue streams with enhanced capabilities for advertisers, and create value for shareholders.It's three-pillar growth strategy is aimed at advancing the company's digital transformation and creating a growing base of annualized recurring revenue, resulting in top-line revenue growth.For long-term, the company targets reaching 900K digital-only subscribers in the next five-years; also generate $100M in annualized revenue from Amplified Digital Agency, which is expected in three years.It targets to achieve long-term leverage target of under 2.5x."We also established a centralized, efficient model for our Amplified Digital Agency, launched our custom content division Brand Avenue Studios, and continued to expand our sales organization to 900+ sellers focused on driving revenue from new e-commerce and first party data sales strategies," president & CEO Kevin Mowbray commented.Lee intends to transfer its

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Lee targets 900K digital-only subscribers in upcoming five-years; transfer listing to NASDAQ