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Mary Junck, chairman and chief executive said the board considered currentgmarket conditions, business forecasts and othert factors that could affect shareholder including the prospect of remainint in compliance with rules for continued The NYSE notified Lee (NYSE: LEE) in December 2008 that the companty was not in compliance with its continueds listing standard of at least $1 a Since then, the NYSE announce d that the standard has been temporarily suspended through July 31. As a Lee has until Dec. 3, 2009, to retur n to compliance. Lee was tradinbg at 55 cents a shareWednesdaty morning.
In February, the Davenport, Iowa-based company it took on when it boughrtthe Post-Dispatch and restructureds future payments under its $1.1 billion bank financing The remaining debt balance of $186 million has been refinancecd by the lenders until 2012. Newspaper publisher nationwide are struggling with declining advertising revenus as readers flock tothe Internet.
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