|        |
|--------|
|   |

|                          |                                      |
|--------------------------|--------------------------------------|
| Delaware                 | 42-0823980                           |
| (State of incorporation) | (I.R.S. Employer Identification No.) |

|                                                             |                                           |
|-------------------------------------------------------------|-------------------------------------------|
| Title of Each Class                                         | Name of Each Exchange On Which Registered |
| Securities registered pursuant to Section 12(b) of the Act: |                                      |
| Common Stock - $2 par value                                 | New York Stock Exchange                   |
| Preferred Share Purchase Rights                             | New York Stock Exchange                   |
|                                                        |                                      |
| Securities registered pursuant to Section 12(g) of the Act: |                                      |
| Class B Common Stock - $2 par value                         |                                      |

|        |
|--------|
|   |

----

|                                   |                                                                                                                  |        |
|-----------------------------------|------------------------------------------------------------------------------------------------------------------|--------|
| TABLE OF CONTENTS                 | PAGE                                                                                                             |
|                              |                                                                                                             |
| Forward-Looking Statements        | 1                                                                                                                |
|                              |                                                                                                             |   |
| Part I                            |
|                              |                                                                                                             |   |
| Item 1                            | Business                                                                                                         | 1      |
|                              |                                                                                                             |   |
| Item 1A                           | Risk Factors                                                                                                     | 8      |
|                              |                                                                                                             |   |
| Item 1B                           | Unresolved Staff Comments                                                                                        | 11     |
|                              |                                                                                                             |   |
| Item 2                            | Properties                                                                                                       | 11     |
|                              |                                                                                                             |   |
| Item 3                            | Legal Proceedings                                                                                                | 11     |
|                              |                                                                                                             |   |
| Item 4                            | (Removed and Reserved)                                                                                           | 12     |
|                              |                                                                                                             |   |
| Part II                           |
|                              |                                                                                                             |   |
| Item 5                            | Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 12     |
|                              |                                                                                                             |   |
| Item 6                            | Selected Financial Data                                                                                          | 14     |
|                              |                                                                                                             |   |
| Item 7                            | Management's Discussion and Analysis of Financial Condition and Results of Operation                             | 15     |
|                              |                                                                                                             |   |
| Item 7A                           | Quantitative and Qualitative Disclosures about Market Risk                                                       | 34     |
|                              |                                                                                                             |   |
| Item 8                            | Financial Statements and Supplementary Data                                                                      | 35     |
|                              |                                                                                                             |   |
| Item 9                            | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                             | 35     |
|                              |                                                                                                             |   |
| Item 9A                           | Controls and Procedures                                                                                          | 36     |
|                              |                                                                                                             |   |
| Item 9B                           | Other Information                                                                                                | 38     |
|                              |                                                                                                             |   |
| Part III                          |
|                              |                                                                                                             |   |
| Item 10                           | Directors, Executive Officers and Corporate Governance                                                           | 38     |
|                              |                                                                                                             |   |
| Item 11                           | Executive Compensation                                                                                           | 38     |
|                              |                                                                                                             |   |
| Item 12                           | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                   | 38     |
|                              |                                                                                                             |   |
| Item 13                           | Certain Relationships and Related Transactions, and Director Independence                                        | 38     |
|                              |                                                                                                             |   |
| Item 14                           | Principal Accountant Fees and Services                                                                           | 38     |
|                              |                                                                                                             |   |
| Part IV                           |
|                              |                                                                                                             |   |
| Item 15                           | Exhibits and Financial Statement Schedules                                                                       | 38     |
|                              |                                                                                                             |
| Signatures                        | 39                                                                                                               |
|                              |                                                                                                             |
| Exhibit Index                     | 40                                                                                                               |
|                              |                                                                                                             |
| Consolidated Financial Statements | 44                                                                                                               |
|                              |                                                                                                             |

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|                            |            |        |           |        |        |        |        |        |        |      |        |
|----------------------------|------------|--------|-----------|--------|--------|--------|--------|--------|--------|------|--------|
|                       | All Adults |   | Age 18-29 |
| (Percent, Past Seven Days) | 2007       | 2008   | 2009      | 2010   |   |   | 2007   | 2008   | 2009   | 2010 |   |
|                       |       |   |      |   |   |   |   |   |   |
| Print users (1)       | NA         | NA     | NA        | 16     |   |   | NA     | NA     | NA     | 23   |   |
| Print only readers         | 48         | 49     | 45        | 43     |   |   | 35     | 38     | 38     | 31   |   |
| Print and digital readers  | 13         | 16     | 16        | 15     |   |   | 14     | 18     | 15     | 13   |   |
| Digital only readers       | 5          | 6      | 7         | 8      |   |   | 6      | 9      | 8      | 9    |   |
| Total reach                | 66         | 71     | 68        | 82     |   |   | 55     | 65     | 61     | 77   |   |
|                       |       |   |      |   |   |   |   |   |   |
| Total print reach (1) | 61         | 65     | 61        | 74     |   |   | 49     | 56     | 53     | 68   |   |
| Total digital reach        | 18         | 22     | 23        | 24     |   |   | 20     | 27     | 23     | 22   |   |

|                  |                                                                                                                                                       |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)              | Print users not measured prior to 2010. As a result, print reach in 2010 is not comparable to prior periods presented.                                |
| Source:          | Lee Enterprises Audience Report, Thoroughbred Research. January - June 2007, 2008, 2009 and 2010.                                                     |
| Markets:         | St. Louis, MO, Madison, WI, Escondido, CA, Northwest Indiana, Lincoln, NE, Davenport, IA, Billings, MT, Bloomington, IL, Sioux City, IA, Waterloo, IA |
| Margin of Error: | Total sample +/- 1.1%, Total digital sample +/- 1.3%                                                                                                  |

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|                                        |                      |                                                    |                             |        |           |         |        |
|----------------------------------------|----------------------|----------------------------------------------------|-----------------------------|--------|-----------|---------|--------|
|                                   |                 |                                               | Paid Circulation (1)        |
| Newspaper                              | Primary Website      | Location                                           |   Daily (2)  |   | Sunday    |
|                                   |                 |                                               |                        |   |      |
| St. Louis Post-Dispatch                | stltoday.com         | St. Louis, MO                                      | 207,145                     |   |      | 365,589 |   |
| Arizona Daily Star (3)                 | azstarnet.com        | Tucson, AZ                                         | 90,604                      |   |      | 130,241 |   |
| Capital Newspapers (4)                 |                 |                                               |                        |   |      |
| Wisconsin State Journal                | madison.com          | Madison, WI                                        | 87,950                      |   |      | 121,947 |   |
| Daily Citizen                          | wiscnews.com/bdc     | Beaver Dam, WI                                     | 8,859                       |   |      | — |   |
| Portage Daily Register                 | wiscnews.com/pdr     | Portage, WI                                        | 4,328                       |   |      | — |   |
| Baraboo News Republic                  | wiscnews.com/bnr     | Baraboo, WI                                        | 3,821                       |   |      | — |   |
| The Times                              | nwitimes.com         | Munster, Valparaiso, and Crown Point, IN | 83,877                      |   |      | 91,978  |   |
| North County Times and the Californian | nctimes.com          | Escondido and Temecula, CA                    | 69,991                      |   |      | 71,290  |   |
| Lincoln Group                          |                 |                                               |                        |   |      |
| Lincoln Journal Star                   | journalstar.com      | Lincoln, NE                                        | 67,137                      |   |      | 72,939  |   |
| Columbus Telegram                      | columbustelegram.com | Columbus, NE                                       | 8,075                       |   |      | 9,054   |   |
| Fremont Tribune                        | fremonttribune.com   | Fremont, NE                                        | 7,352                       |   |      | — |   |
| Beatrice Daily Sun                     | beatricedailysun.com | Beatrice, NE                                       | 5,508                       |   |      | — |   |
| Quad-Cities Group                      |                 |                                               |                        |   |      |
| Quad-City Times                        | qctimes.com          | Davenport, IA                                      | 47,166                      |   |      | 62,321  |   |
| Muscatine Journal                      | muscatinejournal.com | Muscatine, IA                                      | 5,939                       |   |      | — |   |
| The Pantagraph                         | pantagraph.com       | Bloomington, IL                                    | 39,019                      |   |      | 42,906  |   |
| The Courier                            | wcfcourier.com       | Waterloo and Cedar Falls, IA                  | 38,870                      |   |      | 46,543  |   |
| Billings Gazette                       | billingsgazette.com  | Billings, MT                                       | 38,660                      |   | (7)  | 45,743  |   |
| Sioux City Journal                     | siouxcityjournal.com | Sioux City, IA                                     | 35,639                      |   | (7)  | 37,948  |   |
| The Daily Herald                       | heraldextra.com      | Provo, UT                                          | 28,916                      |   |      | 41,701  |   |
| Central Illinois Newspaper Group       |                 |                                               |                        |   |      |
| Herald & Review                    | herald-review.com    | Decatur, IL                                        | 28,453                      |   | (7)  | 43,439  |   |
| Journal Gazette                        | jg-tc.com            | Mattoon, IL                                        | 8,247                       |   |      | — |   |
| Times-Courier                          | jg-tc.com            | Charleston, IL                                     | 5,052                       |   |      | — |   |
| The Post-Star                          | poststar.com         | Glens Falls, NY                                    | 26,798                      |   |      | 30,257  |   |
| River Valley Newspaper Group           |                 |                                               |                        |   |      |
| La Crosse Tribune                      | lacrossetribune.com  | La Crosse, WI                                      | 26,581                      |   |      | 35,387  |   |
| Winona Daily News                      | winonadailynews.com  | Winona, MN                                         | 9,467                       |   |      | 10,248  |   |
| The Chippewa Herald                    | chippewa.com         | Chippewa Falls, WI                                 | 5,589                       |   | (5)  | 5,700   |   |
| The Journal Times                      | journaltimes.com     | Racine, WI                                         | 26,373                      |   | (7)  | 29,023  |   |
| Missoula Group                         |                 |                                               |                        |   |      |
| Missoulian                             | missoulian.com       | Missoula, MT                                       | 26,206                      |   | (7)  | 29,460  |   |
| Ravalli Republic                       | ravallinews.com      | Hamilton, MT                                       | 4,794                       |   | (8)  | — |   |
| The Southern Illinoisan                | thesouthern.com      | Carbondale, IL                                     | 25,981                      |   |      | 32,218  |   |
| The Bismarck Tribune                   | bismarcktribune.com  | Bismarck, ND                                       | 25,490                      |   |      | 28,722  |   |

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|                          |                           |                 |                       |        |           |           |        |
|--------------------------|---------------------------|-----------------|-----------------------|--------|-----------|-----------|--------|
|                     | Paid Circulation (1) |
| Newspaper                | Primary Website           | Location        |   Daily (2) |   | Sunday    |
|                     |                      |            |                  |   |      |
| Rapid City Journal       | rapidcityjournal.com      | Rapid City, SD  | 25,185                |   |      | 30,139    |   |
| Casper Star-Tribune      | trib.com                  | Casper, WY      | 24,121                |   |      | 26,012    |   |
| The Daily News           | tdn.com                   | Longview, WA    | 20,152                |   | (7)  | 20,078    |   |
| Magic Valley Group       |                      |            |                  |   |      |
| The Times-News           | magicvalley.com           | Twin Falls, ID  | 19,431                |   | (7)  | 21,059    |   |
| Elko Daily Free Press    | elkodaily.com             | Elko, NV        | 5,792                 |   | (8)  | —   |   |
| Central Coast Newspapers |                      |            |                  |   |      |
| Santa Maria Times        | santamariatimes.com       | Santa Maria, CA | 16,351                |   |      | 14,686    |   |
| The Lompoc Record        | lompocrecord.com          | Lompoc, CA      | 4,136                 |   | (6)  | 4,173     |   |
| Mid-Valley News Group    |                      |            |                  |   |      |
| Albany Democrat-Herald   | democratherald.com        | Albany, OR      | 14,999                |   | (7)  | 15,581    |   |
| Corvallis Gazette-Times  | gazettetimes.com          | Corvallis, OR   | 10,284                |   | (7)  | 10,413    |   |
| Globe Gazette            | globegazette.com          | Mason City, IA  | 14,864                |   | (7)  | 19,389    |   |
| Napa Valley Register     | napavalleyregister.com    | Napa, CA        | 13,992                |   |      | 13,805    |   |
| The Times and Democrat   | thetandd.com              | Orangeburg, SC  | 13,395                |   | (7)  | 14,182    |   |
| Independent Record       | helenair.com              | Helena, MT      | 13,292                |   |      | 14,067    |   |
| The Sentinel             | cumberlink.com            | Carlisle, PA    | 12,780                |   | (7)  | 14,129    |   |
| The Montana Standard     | mtstandard.com            | Butte, MT       | 12,556                |   | (7)  | 12,710    |   |
| Arizona Daily Sun        | azdailysun.com            | Flagstaff, AZ   | 10,392                |   | (7)  | 10,803    |   |
| The World                | theworldlink.com          | Coos Bay, OR    | 10,260                |   |      | —   |   |
| The Sentinel             | hanfordsentinel.com       | Hanford, CA     | 9,575                 |   |      | —   |   |
| The Garden Island        | kauaiworld.com            | Lihue, HI       | 9,122                 |   | (7)  | 8,762     |   |
| The Citizen              | auburnpub.com             | Auburn, NY      | 8,903                 |   |      | 11,033    |   |
| The Ledger Independent   | maysville-online.com      | Maysville, KY   | 7,004                 |   |      | —   |   |
| Daily Journal            | dailyjournalonline.com    | Park Hills, MO  | 6,478                 |   | (7)  | 6,886     |   |
|                     |                      |            | 1,380,951             |   |      | 1,652,561 |   |

|     |                                                                       |
|-----|-----------------------------------------------------------------------|
| (1) | Source: ABC: Six months ended September 2010, unless otherwise noted. |
| (2) | Daily amounts are Monday - Friday average, unless otherwise noted.    |
| (3) | Owned by Star Publishing but published through TNI.                   |
| (4) | Owned by MNI.                                                         |
| (5) | Daily amounts are Monday - Thursday average and Saturday.             |
| (6) | Daily amounts are Tuesday - Friday average.                           |
| (7) | Daily amounts are Monday - Saturday average.                          |
| (8) | Source: Company statistics.                                           |

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|                     |        |                        |                         |                                                           |
|---------------------|--------|------------------------|-------------------------|-----------------------------------------------------------|
| Name                | Age    | ServiceWith TheCompany | NamedTo CurrentPosition | Current Position                                          |
|                |   |                   |                    |                                                      |
| Mary E. Junck       | 63     | June 1999              | January 2002            | Chairman, President and Chief Executive Officer           |
|                |   |                   |                    |                                                      |
| Joyce L. Dehli      | 52     | August 1987            | February 2006           | Vice President - News                                     |
|                |   |                   |                    |                                                      |
| Paul M. Farrell     | 54     | May 2007               | May 2007                | Vice President - Sales & Marketing                    |
|                |   |                   |                    |                                                      |
| Suzanna M. Frank    | 40     | December 2003          | March 2008              | Vice President - Audience                                 |
|                |   |                   |                    |                                                      |
| Karen J. Guest      | 57     | July 2006              | July 2006               | Vice President - Law and Chief Legal Officer              |
|                |   |                   |                    |                                                      |
| Michael R. Gulledge | 50     | October 1982           | May 2005                | Vice President - Publishing                               |
|                |   |                   |                    |                                                      |
| Daniel K. Hayes     | 65     | September 1969         | September 2005          | Vice President - Corporate Communications                 |
|                |   |                   |                    |                                                      |
| Brian E. Kardell    | 47     | January 1991           | August 2003             | Vice President - Production and Chief Information Officer |
|                |   |                   |                    |                                                      |
| Vytenis P. Kuraitis | 62     | August 1994            | January 1997            | Vice President - Human Resources                          |
|                |   |                   |                    |                                                      |
| Kevin D. Mowbray    | 48     | September 1986         | November 2004           | Vice President - Publishing                               |
|                |   |                   |                    |                                                      |
| Gregory P. Schermer | 56     | February 1989          | November 1997           | Vice President - Interactive Media                        |
|                |   |                   |                    |                                                      |
| Carl G. Schmidt     | 54     | May 2001               | May 2001                | Vice President, Chief Financial Officer and Treasurer     |
|                |   |                   |                    |                                                      |
| Greg R. Veon        | 58     | April 1976             | November 1999           | Vice President - Publishing                               |

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|                   |         |        |        |        |
|-------------------|---------|--------|--------|--------|
| (Square Feet)     | Owned   |   | Leased |   |
|              |    |   |
| PD LLC            | 749,000 |   | 23,000 |   |
| Suburban Journals | 89,000  |   | 39,000 |   |

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|              |               |        |        |        |        |        |        |        |        |           |        |
|--------------|---------------|--------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|
|         | Quarter Ended |
| (Dollars)    | December      |   |   | March  |   |   | June   |   |   | September |   |
|         |          |   |   |   |   |   |   |
| STOCK PRICES |          |   |   |   |   |   |   |
|         |          |   |   |   |   |   |   |
| 2010         |          |   |   |   |   |   |   |
| High         | 4.50          |   |   | 4.77   |   |   | 4.52   |   |   | 3.15      |   |
| Low          | 2.15          |   |   | 2.96   |   |   | 2.49   |   |   | 1.93      |   |
| Closing      | 3.47          |   |   | 3.39   |   |   | 2.57   |   |   | 2.68      |   |
|         |          |   |   |   |   |   |   |
| 2009         |          |   |   |   |   |   |   |
| High         | 3.97          |   |   | 0.65   |   |   | 1.89   |   |   | 3.43      |   |
| Low          | 0.30          |   |   | 0.24   |   |   | 0.29   |   |   | 0.50      |   |
| Closing      | 0.41          |   |   | 0.28   |   |   | 0.53   |   |   | 2.75      |   |
|         |          |   |   |   |   |   |   |
| 2008         |          |   |   |   |   |   |   |
| High         | 17.96         |   |   | 14.91  |   |   | 11.32  |   |   | 5.00      |   |
| Low          | 13.61         |   |   | 9.26   |   |   | 4.21   |   |   | 2.22      |   |
| Closing      | 14.53         |   |   | 10.76  |   |   | 4.40   |   |   | 3.35      |   |
|         |          |   |   |   |   |   |   |
| DIVIDENDS    |          |   |   |   |   |   |   |
|         |          |   |   |   |   |   |   |
| 2008         | 0.19          |   |   | 0.19   |   |   | 0.19   |   |   | 0.19      |   |

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|                               |              |        |        |        |        |        |        |        |        |        |        |        |       |        |        |        |        |
|-------------------------------|--------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-------|--------|--------|--------|--------|
|                          | September 30 |
| (Dollars)                     | 2005         |   |   | 2006   |   |   | 2007   |   |   | 2008   |   |   | 2009  |   |   | 2010   |   |
|                          |         |   |   |   |   |   |   |   |   |   |   |
| Lee Enterprises, Incorporated | 100.00       |   |   | 60.81  |   |   | 38.62  |   |   | 9.68   |   |   | 7.61  |   |   | 7.41   |   |
| Peer Group Index              | 100.00       |   |   | 86.02  |   |   | 73.23  |   |   | 47.89  |   |   | 37.37 |   |   | 35.84  |   |
| S&P 500 Stock Index       | 100.00       |   |   | 110.79 |   |   | 129.01 |   |   | 100.66 |   |   | 93.7  |   |   | 103.22 |   |

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|                                                                                                       |           |        |        |           |        |        |            |        |        |           |        |        |           |        |
|-------------------------------------------------------------------------------------------------------|-----------|--------|--------|-----------|--------|--------|------------|--------|--------|-----------|--------|--------|-----------|--------|
| (Thousands of Dollars and Shares, Except Per Common Share Data)              | 2010      |   |   | 2009      |   |   | 2008       |   |   | 2007      |   |   | 2006      |   |
|                                                                                                  |      |   |   |      |   |   |       |   |   |      |   |   |      |   |
| OPERATING RESULTS (1)                                                                            |      |   |   |      |   |   |       |   |   |      |   |   |      |   |
|                                                                                                  |      |   |   |      |   |   |       |   |   |
| Operating revenue                                                                                     | 780,648   |   |   | 842,030   |   |   | 1,028,868  |   |   | 1,120,194 |   |   | 1,121,390 |   |
| Operating expenses, excluding depreciation, amortization, and impairment of goodwill and other assets | 609,745   |   |   | 675,035   |   |   | 821,846    |   |   | 853,375   |   |   | 843,577   |   |
| Depreciation and amortization                                                                         | 73,179    |   |   | 79,599    |   |   | 91,078     |   |   | 92,700    |   |   | 90,276    |   |
| Impairment of goodwill and other assets (2)                                                      | 3,290     |   |   | 245,953   |   |   | 1,070,808  |   |   | —   |   |   | 4,837     |   |
| Curtailment gains                                                                                     | 45,012    |   |   | —   |   |   | —    |   |   | 3,731     |   |   | —   |   |
| Equity in earnings of associated companies                                                            | 7,746     |   |   | 5,120     |   |   | 10,211     |   |   | 20,124    |   |   | 20,739    |   |
| Reduction in investment in TNI (2)                                                               | —   |   |   | 19,951    |   |   | 104,478    |   |   | —   |   |   | —   |   |
| Operating income (loss)                                                                               | 147,192   |   |   | (173,388  | )      |   | (1,049,131 | )      |   | 197,974   |   |   | 203,439   |   |
| Financial income                                                                                      | 411       |   |   | 1,886     |   |   | 5,857      |   |   | 7,613     |   |   | 6,054     |   |
| Financial expense                                                                                     | (71,631   | )      |   | (92,892   | )      |   | (71,472    | )      |   | (90,341   | )      |   | (95,939   | )      |
|                                                                                                  |      |   |   |      |   |   |       |   |   |
| Income (loss) from continuing operations                                                              | 46,178    |   |   | (180,062  | )      |   | (871,228   | )      |   | 81,397    |   |   | 72,009    |   |
| Discontinued operations                                                                               | —   |   |   | (5        | )      |   | 285        |   |   | 671       |   |   | 54        |   |
| Net income (loss)                                                                                     | 46,178    |   |   | (180,067  | )      |   | (870,943   | )      |   | 82,068    |   |   | 72,063    |   |
|                                                                                                  |      |   |   |      |   |   |       |   |   |
| Income (loss) attributable to Lee Enterprises, Incorporated                                           | 46,105    |   |   | (123,191  | )      |   | (880,316   | )      |   | 80,999    |   |   | 70,832    |   |
|                                                                                                  |      |   |   |      |   |   |       |   |   |
| Income (loss) from continuing operations attributable to Lee Enterprises, Incorporated                | 46,105    |   |   | (123,186  | )      |   | (880,601   | )      |   | 80,328    |   |   | 70,778    |   |
|                                                                                                  |      |   |   |      |   |   |       |   |
| EARNINGS (LOSS) PER COMMON SHARE                                                                      |      |   |   |      |   |   |       |   |
|                                                                                                  |      |   |   |      |   |   |       |   |   |
| Basic:                                                                                                |      |   |   |      |   |   |       |   |   |
| Continuing operations                                                                                 | 1.03      |   |   | (2.77     | )      |   | (19.65     | )      |   | 1.76      |   |   | 1.56      |   |
| Discontinued operations                                                                               | —   |   |   | —   |   |   | 0.01       |   |   | 0.01      |   |   | —   |   |
|                                                                                                  | 1.03      |   |   | (2.77     | )      |   | (19.64     | )      |   | 1.77      |   |   | 1.56      |   |
|                                                                                                  |
| Diluted:                                                                                              |      |   |   |      |   |   |       |   |   |
| Continuing operations                                                                                 | 1.03      |   |   | (2.77     | )      |   | (19.65     | )      |   | 1.75      |   |   | 1.55      |   |
| Discontinued operations                                                                               | —   |   |   | —   |   |   | 0.01       |   |   | 0.01      |   |   | —   |   |
|                                                                                                  | 1.03      |   |   | (2.77     | )      |   | (19.64     | )      |   | 1.77      |   |   | 1.56      |   |
|                                                                                                  |
| Weighted average common shares:                                                                       |      |   |   |      |   |   |       |   |   |
| Basic                                                                                                 | 44,555    |   |   | 44,442    |   |   | 44,813     |   |   | 45,671    |   |   | 45,421    |   |
| Diluted                                                                                               | 44,955    |   |   | 44,442    |   |   | 44,813     |   |   | 45,804    |   |   | 45,546    |   |
|                                                                                                  |
| Dividends per common share                                                                            | —   |   |   | —   |   |   | 0.76       |   |   | 0.72      |   |   | 0.72      |   |
|                                                                                                  |      |   |   |      |   |   |       |   |
| BALANCE SHEET INFORMATION (End of Year)                                                |      |   |   |      |   |   |       |   |
|                                                                                                  |      |   |   |      |   |   |       |   |   |
| Total assets                                                                                          | 1,440,116 |   |   | 1,515,612 |   |   | 2,016,367  |   |   | 3,260,963 |   |   | 3,329,809 |   |
| Debt, including current maturities (3)                                                           | 1,081,590 |   |   | 1,168,335 |   |   | 1,332,375  |   |   | 1,395,625 |   |   | 1,525,000 |   |
| Debt, net of cash, restricted cash and investments (3)                                           | 1,052,545 |   |   | 1,151,106 |   |   | 1,182,856  |   |   | 1,284,565 |   |   | 1,420,302 |   |
| Stockholders' equity                                                                                  | 56,823    |   |   | 23,598    |   |   | 155,518    |   |   | 1,086,442 |   |   | 990,625   |   |

|    |   |                                                                                  |
|----|---|----------------------------------------------------------------------------------|
| (1 | ) | Results of discontinued operations have been restated for all periods presented. |

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|    |   |                                                                                                             |
|----|---|-------------------------------------------------------------------------------------------------------------|
| (2 | ) | The Company recorded pretax, non-cash impairment charges to reduce the carrying value of assets as follows: |

|                                |         |        |        |         |        |        |           |        |
|--------------------------------|---------|--------|--------|---------|--------|--------|-----------|--------|
| (Thousands of Dollars)         | 2010    |   |   | 2009    |   |   | 2008      |   |
|                           |    |   |   |    |   |
| Goodwill                       | — |   |   | 193,471 |   |   | 908,977   |   |
| Nonamortized intangible assets | — |   |   | 14,055  |   |   | 13,027    |   |
| Amortizable intangible assets  | — |   |   | 33,848  |   |   | 143,785   |   |
| Property and equipment         | 3,290   |   |   | 4,579   |   |   | 5,019     |   |
|                           | 3,290   |   |   | 245,953 |   |   | 1,070,808 |   |
| Reduction in investment in TNI | — |   |   | 19,951  |   |   | 104,478   |   |
|                           | 3,290   |   |   | 265,904 |   |   | 1,175,286 |   |

|    |   |                                                                                                                                   |
|----|---|-----------------------------------------------------------------------------------------------------------------------------------|
| (3 | ) | Principal amount, excluding fair value adjustments. See Note 7 of the Notes to Consolidated Financial Statements, includedherein. |

|                                            |         |        |                        |        |        |          |        |                        |        |        |            |        |                        |        |
|--------------------------------------------|---------|--------|------------------------|--------|--------|----------|--------|------------------------|--------|--------|------------|--------|------------------------|--------|
| (Thousands of Dollars)                     | 2010    |   | Percent ofRevenue |   |   | 2009     |   | Percent ofRevenue |   |   | 2008       |   | Percent ofRevenue |   |
|                                       |    |   |                   |   |   |     |   |                   |
| Operating cash flow                        | 170,903 |   | 21.9                   |   |   | 166,995  |   | 19.8                   |   |   | 207,022    |   | 20.1                   |   |
| Depreciation and amortization              | (73,179 | )      | (9.4                   | )      |   | (79,599  | )      | (9.5                   | )      |   | (91,078    | )      | (8.9                   | )      |
| Impairment of goodwill and other assets    | (3,290  | )      | (0.4                   | )      |   | (245,953 | )      | (29.2                  | )      |   | (1,070,808 | )      | NM                     |   |
| Curtailment gains                          | 45,012  |   | 5.8                    |   |   | —  |   | —                |   |   | —    |   | —                |   |
| Equity in earnings of associated companies | 7,746   |   | 1.0                    |   |   | 5,120    |   | 0.6                    |   |   | 10,211     |   | 1.0                    |   |
| Reduction in investment in TNI             | — |   | —                |   |   | (19,951  | )      | (2.4                   | )      |   | (104,478   | )      | (10.2                  | )      |
| Operating income (loss)                    | 147,192 |   | 18.9                   |   |   | (173,388 | )      | NM                     |   |   | (1,049,131 | )      | NM                     |   |

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|                                |         |        |        |         |        |        |           |        |
|--------------------------------|---------|--------|--------|---------|--------|--------|-----------|--------|
| (Thousands of Dollars)         | 2010    |   |   | 2009    |   |   | 2008      |   |
|                           |    |   |   |    |   |
| Goodwill                       | — |   |   | 193,471 |   |   | 908,977   |   |
| Nonamortized intangible assets | — |   |   | 14,055  |   |   | 13,027    |   |
| Amortizable intangible assets  | — |   |   | 33,848  |   |   | 143,785   |   |
| Property and equipment         | 3,290   |   |   | 4,579   |   |   | 5,019     |   |
|                           | 3,290   |   |   | 245,953 |   |   | 1,070,808 |   |
| Reduction in investment in TNI | — |   |   | 19,951  |   |   | 104,478   |   |
|                           | 3,290   |   |   | 265,904 |   |   | 1,175,286 |   |

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|                                                                                        |         |        |        |          |        |        |                |        |
|----------------------------------------------------------------------------------------|---------|--------|--------|----------|--------|--------|----------------|--------|
| (Thousands of Dollars, Except Per Common Share Data)                                   | 2010    |   |   | 2009     |   |   | Percent Change |   |
|                                                                                   |    |   |   |     |   |
| Advertising revenue:                                                                   |    |   |   |     |   |
| Retail                                                                                 | 322,961 |   |   | 358,104  |   |   | (9.8           | )      |
| Classified:                                                                            |    |   |   |     |   |   |           |   |
| Daily newspapers:                                                                      |    |   |   |     |   |   |           |   |
| Employment                                                                             | 21,393  |   |   | 26,489   |   |   | (19.2          | )      |
| Automotive                                                                             | 25,063  |   |   | 30,465   |   |   | (17.7          | )      |
| Real estate                                                                            | 23,587  |   |   | 30,066   |   |   | (21.5          | )      |
| All other                                                                              | 46,039  |   |   | 44,635   |   |   | 3.1            |   |
| Other publications                                                                     | 27,762  |   |   | 30,660   |   |   | (9.5           | )      |
| Total classified                                                                       | 143,844 |   |   | 162,315  |   |   | (11.4          | )      |
| Digital                                                                                | 47,290  |   |   | 42,073   |   |   | 12.4           |   |
| National                                                                               | 33,749  |   |   | 39,047   |   |   | (13.6          | )      |
| Niche publications                                                                     | 12,260  |   |   | 13,135   |   |   | (6.7           | )      |
| Total advertising revenue                                                              | 560,104 |   |   | 614,674  |   |   | (8.9           | )      |
| Circulation                                                                            | 179,851 |   |   | 185,154  |   |   | (2.9           | )      |
| Commercial printing                                                                    | 11,762  |   |   | 12,895   |   |   | (8.8           | )      |
| Digital services and other                                                             | 28,931  |   |   | 29,307   |   |   | (1.3           | )      |
| Total operating revenue                                                                | 780,648 |   |   | 842,030  |   |   | (7.3           | )      |
| Compensation                                                                           | 315,698 |   |   | 339,014  |   |   | (6.9           | )      |
| Newsprint and ink                                                                      | 54,436  |   |   | 72,311   |   |   | (24.7          | )      |
| Other operating expenses                                                               | 238,191 |   |   | 257,060  |   |   | (7.3           | )      |
| Workforce adjustments and transition costs                                             | 1,420   |   |   | 6,650    |   |   | (78.6          | )      |
|                                                                                   | 609,745 |   |   | 675,035  |   |   | (9.7           | )      |
| Operating cash flow                                                                    | 170,903 |   |   | 166,995  |   |   | 2.3            |   |
| Depreciation and amortization                                                          | 73,179  |   |   | 79,599   |   |   | (8.1           | )      |
| Impairment of goodwill and other assets                                                | 3,290   |   |   | 245,953  |   |   | (98.7          | )      |
| Curtailment gains                                                                      | 45,012  |   |   | —  |   |   | NM             |   |
| Equity in earnings of associated companies                    | 7,746   |   |   | 5,120    |   |   | 51.3           |   |
| Reduction in investment in TNI                                                         | — |   |   | 19,951   |   |   | NM             |   |
| Operating income (loss)                                                                | 147,192 |   |   | (173,388 | )      |   | NM             |   |
| Non-operating expense, net                                                             | 72,392  |   |   | 89,183   |   |   | (18.8          | )      |
| Income (loss) from before income taxes                                                 | 74,800  |   |   | (262,571 | )      |   | NM             |   |
| Income tax expense (benefit)                                                           | 28,622  |   |   | (82,509  | )      |   | NM             |   |
| Income (loss) from continuing operations                                               | 46,178  |   |   | (180,062 | )      |   | NM             |   |
| Discontinued operations, net                                                           | — |   |   | (5       | )      |   | NM             |   |
| Net income (loss)                                                                      | 46,178  |   |   | (180,067 | )      |   | NM             |   |
| Net income attributable to non-controlling interests                                   | (73     | )      |   | (179     | )      |   | (59.2          | )      |
| Decrease in redeemable non-controlling interest                                        | — |   |   | 57,055   |   |   | NM             |   |
| Income (loss) attributable to Lee Enterprises, Incorporated                            | 46,105  |   |   | (123,191 | )      |   | NM             |   |
| Other comprehensive loss, net                                                          | (14,704 | )      |   | (21,839  | )      |   | (32.7          | )      |
| Comprehensive income (loss)                                                            | 31,401  |   |   | (145,030 | )      |   | NM             |   |
|                                                                                   |    |   |   |     |   |
| Income (loss) from continuing operations attributable to Lee Enterprises, Incorporated | 46,105  |   |   | (123,186 | )      |   | NM             |   |
|                                                                                   |    |   |   |     |   |
| Earnings (loss) per common share attributable to Lee Enterprises, Incorporated:        |    |   |   |     |   |   |           |   |
| Basic                                                                                  | 1.03    |   |   | (2.77    | )      |   | NM             |   |
| Diluted                                                                                | 1.03    |   |   | (2.77    | )      |   | NM             |   |

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|                          |         |        |        |         |        |        |                |        |
|--------------------------|---------|--------|--------|---------|--------|--------|----------------|--------|
| (Thousands of Dollars)   | 2010    |   |   | 2009    |   |   | Percent Change |   |
|                     |    |   |   |    |   |
| Retail                   | 339,219 |   |   | 369,304 |   |   | (8.1           | )      |
|                     |    |   |   |    |   |
| Classified:              |    |   |   |    |   |
| Employment               | 35,470  |   |   | 41,626  |   |   | (14.8          | )      |
| Automotive               | 40,823  |   |   | 45,574  |   |   | (10.4          | )      |
| Real estate              | 31,647  |   |   | 39,331  |   |   | (19.5          | )      |
| Other                    | 65,332  |   |   | 65,715  |   |   | (0.6           | )      |
| Total classified revenue | 173,272 |   |   | 192,246 |   |   | (9.9           | )      |

|                       |        |        |        |        |        |        |                     |        |
|-----------------------|--------|--------|--------|--------|--------|--------|---------------------|--------|
| (Thousands of Inches) | 2010   |   |   | 2009   |   |   | Percent Change |   |
|                  |   |   |   |   |   |
| Retail                | 10,287 |   |   | 10,993 |   |   | (6.4                | )      |
| Classified            | 11,137 |   |   | 11,607 |   |   | (4.0                | )      |
| National              | 475    |   |   | 488    |   |   | (2.7                | )      |
|                  | 21,899 |   |   | 23,088 |   |   | (5.2                | )      |

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|                                |         |        |        |         |        |
|--------------------------------|---------|--------|--------|---------|--------|
| (Thousands of Dollars)         | 2010    |   |   | 2009    |   |
|                           |    |   |   |
| Goodwill                       | — |   |   | 193,471 |   |
| Nonamortized intangible assets | — |   |   | 14,055  |   |
| Amortizable intangible assets  | — |   |   | 33,848  |   |
| Property and equipment         | 3,290   |   |   | 4,579   |   |
|                           | 3,290   |   |   | 245,953 |   |
| Reduction in investment in TNI | — |   |   | 19,951  |   |
|                           | 3,290   |   |   | 265,904 |   |

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|                                                                          |         |        |        |                |        |         |          |        |        |                |        |
|--------------------------------------------------------------------------|---------|--------|--------|----------------|--------|---------|----------|--------|--------|----------------|--------|
|                                                                     | 2010    |   | 2009   |
| (Thousands of Dollars, Except Per Share Data)                            | Amount  |   |   | Per Share |   |    | Amount   |   |   | Per Share |   |
|                                                                     |    |   |   |           |   |    |     |
| Income (loss) attributable to Lee Enterprises, Incorporated, as reported | 46,105  |   |   | 1.03           |   |    | (123,191 | )      |   | (2.77          | )      |
| Adjustments:                                                             |    |   |   |           |   |    |     |
| Impairment of goodwill and other assets, including TNI                   | 3,290   |   |   |           |   | 265,904 |     |   |   |
| Curtailment gains                                                        | (45,012 | )      |   |           |   | — |     |   |   |
| Debt financing costs                                                     | 8,514   |   |   |           |   | 17,467  |     |   |   |
| Other, net                                                               | 1,960   |   |   |           |   | 6,848   |     |   |   |
|                                                                     | (31,248 | )      |   |           |   | 290,219 |     |   |   |
| Income tax effect of adjustments, net, and other unusual tax matters     | 17,167  |   |   |           |   | (94,518 | )        |   |   |
|                                                                     | (14,081 | )      |   | (0.31          | )      |    | 195,701  |   |   | 4.40           |   |
| Net income, as adjusted                                                  | 32,024  |   |   | 0.71           |   |    | 72,510   |   |   | 1.63           |   |
| Change in redeemable non-controlling interest liability                  | — |   |   | —        |   |    | (57,055  | )      |   | (1.28          | )      |
| Income attributable to Lee Enterprises, Incorporated, as adjusted        | 32,024  |   |   | 0.71           |   |    | 15,455   |   |   | 0.35           |   |

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|                                                                               |          |        |        |            |        |        |                |        |
|-------------------------------------------------------------------------------|----------|--------|--------|------------|--------|--------|----------------|--------|
| (Thousands of Dollars, Except Per Common Share Data)                          | 2009     |   |   | 2008       |   |   | Percent Change |   |
|                                                                          |     |   |   |       |   |
| Advertising revenue:                                                          |     |   |   |       |   |
| Retail                                                                        | 358,104  |   |   | 434,069    |   |   | (17.5          | )      |
| Classified:                                                                   |     |   |   |       |   |
| Daily newspapers:                                                             |     |   |   |       |   |
| Employment                                                                    | 26,489   |   |   | 59,457     |   |   | (55.4          | )      |
| Automotive                                                                    | 30,465   |   |   | 45,388     |   |   | (32.9          | )      |
| Real estate                                                                   | 30,066   |   |   | 43,282     |   |   | (30.5          | )      |
| All other                                                                     | 44,635   |   |   | 43,006     |   |   | 3.8            |   |
| Other publications                                                            | 30,660   |   |   | 43,361     |   |   | (29.3          | )      |
| Total classified                                                              | 162,315  |   |   | 234,494    |   |   | (30.8          | )      |
| Digital                                                                       | 42,073   |   |   | 55,119     |   |   | (23.7          | )      |
| National                                                                      | 39,047   |   |   | 44,143     |   |   | (11.5          | )      |
| Niche publications                                                            | 13,135   |   |   | 15,874     |   |   | (17.3          | )      |
| Total advertising revenue                                                     | 614,674  |   |   | 783,699    |   |   | (21.6          | )      |
| Circulation                                                                   | 185,154  |   |   | 195,457    |   |   | (5.3           | )      |
| Commercial printing                                                           | 12,895   |   |   | 15,993     |   |   | (19.4          | )      |
| Digital services and other                                                    | 29,307   |   |   | 33,719     |   |   | (13.1          | )      |
| Total operating revenue                                                       | 842,030  |   |   | 1,028,868  |   |   | (18.2          | )      |
| Compensation                                                                  | 339,014  |   |   | 421,652    |   |   | (19.6          | )      |
| Newsprint and ink                                                             | 72,311   |   |   | 103,926    |   |   | (30.4          | )      |
| Other operating expenses                                                      | 257,060  |   |   | 292,840    |   |   | (12.2          | )      |
| Workforce adjustments and transition costs                                    | 6,650    |   |   | 3,428      |   |   | 94.0           |   |
|                                                                          | 675,035  |   |   | 821,846    |   |   | (17.9          | )      |
| Operating cash flow                                                           | 166,995  |   |   | 207,022    |   |   | (19.3          | )      |
| Depreciation and amortization                                                 | 79,599   |   |   | 91,078     |   |   | (12.6          | )      |
| Impairment of goodwill and other assets                                       | 245,953  |   |   | 1,070,808  |   |   | (77.0          | )      |
| Equity in earnings of associated companies           | 5,120    |   |   | 10,211     |   |   | (49.9          | )      |
| Reduction in investment in TNI                                                | 19,951   |   |   | 104,478    |   |   | (80.9          | )      |
| Operating loss                                                                | (173,388 | )      |   | (1,049,131 | )      |   | (83.5          | )      |
| Non-operating expense, net                                                    | 89,183   |   |   | 64,730     |   |   | 37.8           |   |
| Loss before income taxes                                                      | (262,571 | )      |   | (1,113,861 | )      |   | (76.4          | )      |
| Income tax benefit                                                            | (82,509  | )      |   | (242,633   | )      |   | (66.0          | )      |
| Loss from continuing operations                                               | (180,062 | )      |   | (871,228   | )      |   | (79.3          | )      |
| Discontinued operations, net                                                  | (5       | )      |   | 285        |   |   | NM             |   |
| Net loss                                                                      | (180,067 | )      |   | (870,943   | )      |   | (79.3          | )      |
| Net income attributable to non-controlling interests                          | (179     | )      |   | (535       | )      |   | (66.5          | )      |
| Decrease (increase) in redeemable non-controlling interest                    | 57,055   |   |   | (8,838     | )      |   | NM             |   |
| Loss attributable to Lee Enterprises, Incorporated                            | (123,191 | )      |   | (880,316   | )      |   | (86.0          | )      |
| Other comprehensive income (loss), net                                        | (21,839  | )      |   | 1,001      |   |   | NM             |   |
| Comprehensive loss                                                            | (145,030 | )      |   | (879,315   | )      |   | (83.5          | )      |
|                                                                          |     |   |   |       |   |
| Loss from continuing operations attributable to Lee Enterprises, Incorporated | (123,186 | )      |   | (880,601   | )      |   | (86.0          | )      |
|                                                                          |     |   |   |       |   |
| Loss per common share attributable to Lee Enterprises, Incorporated:          |     |   |   |       |   |
| Basic                                                                         | (2.77    | )      |   | (19.65     | )      |   | (85.9          | )      |
| Diluted                                                                       | (2.77    | )      |   | (19.65     | )      |   | (85.9          | )      |

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|                                       |         |        |        |         |        |        |                     |        |
|---------------------------------------|---------|--------|--------|---------|--------|--------|---------------------|--------|
| (Thousands of Dollars, Same Property) | 2009    |   |   | 2008    |   |   | Percent Change |   |
|                                  |    |   |   |    |   |
| Retail                                | 369,302 |   |   | 439,354 |   |   | (15.9               | )      |
|                                  |    |   |   |    |   |
| Classified:                           |    |   |   |    |   |
| Employment                            | 41,627  |   |   | 90,830  |   |   | (54.2               | )      |
| Automotive                            | 44,885  |   |   | 62,938  |   |   | (28.7               | )      |
| Real estate                           | 39,331  |   |   | 57,389  |   |   | (31.5               | )      |
| Other                                 | 65,715  |   |   | 72,177  |   |   | (9.0                | )      |
| Total classified revenue              | 191,558 |   |   | 283,334 |   |   | (32.4               | )      |

|                       |        |        |        |        |        |        |                     |        |
|-----------------------|--------|--------|--------|--------|--------|--------|---------------------|--------|
| (Thousands of Inches) | 2009   |   |   | 2008   |   |   | Percent Change |   |
|                  |   |   |   |   |   |
| Retail                | 10,993 |   |   | 12,639 |   |   | (13.0               | )      |
| Classified            | 11,607 |   |   | 14,317 |   |   | (18.9               | )      |
| National              | 488    |   |   | 612    |   |   | (20.2               | )      |
|                  | 23,088 |   |   | 27,568 |   |   | (16.3               | )      |

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|                                |         |        |        |           |        |
|--------------------------------|---------|--------|--------|-----------|--------|
| (Thousands of Dollars)         | 2009    |   |   | 2008      |   |
|                           |    |   |   |
| Goodwill                       | 193,471 |   |   | 908,977   |   |
| Nonamortized intangible assets | 14,055  |   |   | 13,027    |   |
| Amortizable intangible assets  | 33,848  |   |   | 143,785   |   |
| Property and equipment         | 4,579   |   |   | 5,019     |   |
|                           | 245,953 |   |   | 1,070,808 |   |
| Reduction in investment in TNI | 19,951  |   |   | 104,478   |   |
|                           | 265,904 |   |   | 1,175,286 |   |

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|                                                                      |          |        |                |        |        |           |                |        |        |        |        |
|----------------------------------------------------------------------|----------|--------|----------------|--------|--------|-----------|----------------|--------|--------|--------|--------|
|                                                                 | 2009     |   | 2008           |
| (Thousands of Dollars, Except Per Share Data)                        | Amount   |   | Per Share |   | Amount |      | Per Share |
|                                                                 |     |   |           |   |   |      |           |
| Loss attributable to Lee Enterprises, Incorporated, as reported      | (123,191 | )      |           | (2.77  | )      |      | (880,316       | )      |   | (19.64 | )      |
| Adjustments:                                                         |     |   |           |   |   |      |           |
| Impairment of goodwill and other assets, including TNI               | 265,904  |   |           |   |   | 1,175,286 |           |   |   |
| Debt financing costs                                                 | 17,467   |   |           |   |   | 3,505     |           |   |   |
| Other, net                                                           | 6,848    |   |           |   |   | 4,463     |           |   |   |
|                                                                 | 290,219  |   |           |   |   | 1,183,254 |           |   |   |
| Income tax effect of adjustments, net, and other unusual tax matters | (94,518  | )      |           |   |   | (265,979  | )              |   |   |
|                                                                 | 195,701  |   |           | 4.40   |   |      | 917,275        |   |   | 20.47  |   |
| Net income, as adjusted                                              | 72,510   |   |           | 1.63   |   |      | 36,959         |   |   | 0.82   |   |
| Change in redeemable minority interest liability                     | (57,055  | )      |           | (1.28  | )      |      | 8,838          |   |   | 0.20   |   |
| Income attributable to Lee Enterprises, Incorporated, as adjusted    | 15,455   |   |           | 0.35   |   |      | 45,797         |   |   | 1.02   |   |

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|                                 |                                          |        |        |            |        |        |           |        |        |         |        |        |                 |        |
|---------------------------------|------------------------------------------|--------|--------|------------|--------|--------|-----------|--------|--------|---------|--------|--------|-----------------|--------|
| (Thousands of Dollars)          | Payments (or Commitments) Due by Year(s) |
| Nature of Obligation            | Total                                    |   |   | LessThan 1 |   |   | 1-3       |   |   | 3-5     |   |   | MoreThan 5 |   |
|                            |                                     |   |   |       |   |   |      |   |   |
| Debt (principal amount) (1)     | 1,081,590                                |   |   | 81,500     |   |   | 1,000,090 |   |   | — |   |   | —         |   |
| Financial expense (2)(3)        | 85,400                                   |   |   | 52,300     |   |   | 33,100    |   |   | — |   |   | —         |   |
| Operating lease obligations     | 16,024                                   |   |   | 4,073      |   |   | 5,500     |   |   | 2,027   |   |   | 4,424           |   |
| Capital expenditure commitments | 532                                      |   |   | 532        |   |   | —   |   |   | — |   |   | —         |   |
|                            | 1,183,546                                |   |   | 138,405    |   |   | 1,038,690 |   |   | 2,027   |   |   | 4,424           |   |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Maturities of long-term debt exclude the possible impact of acceleration of amounts due under the Credit Agreement or Pulitzer Notes due to a future default under such agreements. See Note 7 of the Notes to Consolidated Financial Statements, included herein.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| (2) | Financial expense includes an estimate of interest expense for the Credit Agreement and Pulitzer Notes until their respective maturities in April 2012. Financial expense under the Credit Agreement is estimated based on the 30 day minimum LIBOR level of 1.25% at September 26, 2010 as increased by our applicable margin of 2.875% at such date applied to the outstanding balance at September 26, 2010, as reduced by future contractual maturities of such debt. Financial expense under the Pulitzer Notes is estimated based on the fixed contractual interest rates applied to the outstanding balance at September 26, 2010, as reduced by future contractual maturities of such debt. Changes in interest rates in excess of the minimum LIBOR level, changes in our applicable interest rate margin due to changes in our maximum total leverage ratio, use of LIBOR borrowing periods in excess of 30 days, use of borrowing rates not based on LIBOR, use of interest rate hedging instruments, and/or principal payments in excess of contractual maturities or based on other requirements of the Credit Agreement or Pulitzer Notes could significantly change this estimate. See Note 7 of the Notes to Consolidated Financial Statements, included herein. |
| (3) | Financial expense excludes amortization of debt financing costs totaling $26,061,000, as such costs were paid in 2009 and prior years. See Note 7 of the Notes to Consolidated Financial Statements, included herein.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

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|                                                 |        |                                              |
|-------------------------------------------------|--------|----------------------------------------------|
| /s/ Mary E. Junck                               |   | /s/ Carl G. Schmidt                          |
| Mary E. Junck                                   |   | Carl G. Schmidt                              |
| Chairman, President and Chief Executive Officer |   | Vice President, Chief Financial Officer      |
| (Principal Executive (Officer)                  |   | and Treasurer                                |
|                                            |   | (Principal Financial and Accounting Officer) |
| December 10, 2010                               |   | December 10, 2010                            |

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|                                                 |        |                                                       |
|-------------------------------------------------|--------|-------------------------------------------------------|
| /s/ Mary E. Junck                               |   | /s/ Carl G. Schmidt                                   |
| Mary E. Junck                                   |   | Carl G. Schmidt                                       |
| Chairman, President and Chief Executive Officer |   | Vice President, Chief Financial Officer and Treasurer |
| (Principal Executive Officer)                   |   | (Principal Financial and Accounting Officer)          |

|                            |        |                                                       |
|----------------------------|--------|-------------------------------------------------------|
| Signature             |   |                                                  |
|                       |   |                                                  |
| /s/ Richard R. Cole        |   | Director                                              |
| Richard R. Cole            |   |                                                  |
|                       |   |                                                  |
| /s/ Nancy S. Donovan       |   | Director                                              |
| Nancy S. Donovan           |   |                                                  |
|                       |   |                                                  |
| /s/ Leonard J. Elmore      |   | Director                                              |
| Leonard J. Elmore          |   |                                                  |
|                       |   |                                                  |
| /s/ Mary E. Junck          |   | Chairman, President and Chief Executive Officer,      |
| Mary E. Junck              |   | and Director                                          |
|                       |   |                                                  |
| /s/ Brent Magid            |   | Director                                              |
| Brent Magid                |   |                                                  |
|                       |   |                                                  |
| /s/ William E. Mayer       |   | Director                                              |
| William E. Mayer           |   |                                                  |
|                       |   |                                                  |
| /s/ Herbert W. Moloney III |   | Director                                              |
| Herbert W. Moloney III     |   |                                                  |
|                       |   |                                                  |
| /s/ Andrew E. Newman       |   | Director                                              |
| Andrew E. Newman           |   |                                                  |
|                       |   |                                                  |
| /s/ Gordon D. Prichett     |   | Director                                              |
| Gordon D. Prichett         |   |                                                  |
|                       |   |                                                  |
| /s/ Gregory P. Schermer    |   | Vice President - Interactive Media, and Director      |
| Gregory P. Schermer        |   |                                                  |
|                       |   |                                                  |
| /s/ Carl G. Schmidt        |   | Vice President, Chief Financial Officer and Treasurer |
| Carl G. Schmidt            |   |                                                  |
|                       |   |                                                  |
| /s/ Mark B. Vittert        |   | Director                                              |
| Mark B. Vittert            |   |                                                  |

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|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number      | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2.1 *  | Agreement and Plan of Merger dated as of January 29, 2005 among Lee Enterprises, Incorporated, LP Acquisition Corp. and Pulitzer Inc. (Exhibit 2.1 to Form 8-K filed February 3, 2005)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2.2 *       | Asset Purchase Agreement dated September 6, 2006 by and among Lee Enterprises, Incorporated, Lee Procurement Solutions Co. and Sound Publishing, Inc. (Exhibit 2.3 to Form 10-K for the Fiscal Year Ended September 30, 2006)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2.3 *       | Asset Purchase Agreement dated September 5, 2006 by and among Lee Enterprises, Incorporated, Lee Procurement and Target Media Partners Operating Company, LLC (Exhibit 2.4 to Form 10-K for the Fiscal Year Ended September 30, 2006)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 3.1 *  | Restated Certificate of Incorporation of Lee Enterprises, Incorporated, as amended, as of March 3, 2005 (Exhibit 3.1 to Form 10-Q for the Fiscal Quarter Ended March 31, 2005)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 3.2 *  | Amended By-Laws of Lee Enterprises, Incorporated effective May 17, 2007. (Exhibit 99.1 to Form 8-K filed May 21, 2007)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 4 *    | The description of the Company's preferred stock purchase rights contained in its report on Form 8-K, filed on May 7, 1998, and related Rights Agreement, dated as of May 7, 1998 (“Rights Agreement”), between the Company and The First Chicago Trust Company of New York (“First Chicago”), as amended by Amendment No. 1 to the Rights Agreement dated January 1, 2008 between the Company and Wells Fargo Bank, N.A. (as successor rights agent to First Chicago) contained in the Company's report on Form 8-K filed on January 11, 2008 as Exhibit 4.2, and the related form of Certificate of Designation of the Preferred Stock as Exhibit A, the form of Rights Certificate as Exhibit B and the Summary of Rights as Exhibit C, included as Exhibit 1.1 to the Company's registration statement on Form 8-A filed on May 26, 1998 (File No. 1-6227), as supplemented by Form 8-A/A, Amendment No. 1, filed on January 11, 2008. |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.1 * | Amended and Restated Credit Agreement, dated as of December 21, 2005, by and among Lee Enterprises, Incorporated, the lenders from time to time party thereto, Deutsche Bank Trust Company Americas, as Administrative Agent, Deutsche Bank Securities Inc. and SunTrust Capital Markets, Inc., as Joint Lead Arrangers, Deutsche Bank Securities Inc., as Book Running Manager, SunTrust Bank, as Syndication Agent and Bank of America, N.A., The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd., Chicago Branch, as Co-Documentation Agents (Exhibit 10 to Form 10-Q for the Fiscal Quarter Ended December 31, 2005)                                                                                                                                                                                                                                                                                                                              |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.2 *      | First Amendment and Waiver to Credit Agreement, dated as of September 29, 2008, among Lee Enterprises, Incorporated (the “Company”), the Lenders party thereto, Deutsche Bank Trust Company Americas, as Administrative Agent, related to the Company's Amended and Restated Credit Agreement, dated as of December 21, 2005, by and among the Company, Deutsche Bank Trust Company Americas, as Administrative Agent, Deutsche Bank Securities Inc. and SunTrust Capital Markets, Inc., as Joint Lead Arrangers, Deutsche Bank Securities Inc., as Book Running Manager, SunTrust Bank, as Syndication Agent, and Bank of America, N.A., The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd., Chicago Branch, as Co-Documentation Agents and other lenders thereto (Exhibit 10.1 to Form 8-K filed December 17, 2008)                                                                                                                         |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.3 *      | Second Amendment to Credit Agreement, dated as of October 29, 2008, among Lee Enterprises, Incorporated (the “Company”), the Lenders party thereto, Deutsche Bank Trust Company Americas, as Administrative Agent, related to the Company's Amended and Restated Credit Agreement, dated as of December 21, 2005, by and among the Company, Deutsche Bank Trust Company Americas, as Administrative Agent, Deutsche Bank Securities Inc. and SunTrust Capital Markets, Inc., as Joint Lead Arrangers, Deutsche Bank Securities Inc., as Book Running Manager, SunTrust Bank, as Syndication Agent, and Bank of America, N.A., The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd., Chicago Branch, as Co-Documentation Agents and other lenders thereto (Exhibit 10.1 to Form 8-K filed December 17, 2008)                                                                                                                      |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 10.4 *      | Second Waiver to Credit Agreement, dated as of December 22, 2008, among Lee Enterprises, Incorporated, the lenders party thereto and Deutsche Bank Trust Company Americas, as Administrative Agent (Exhibit 10.4 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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|              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number       | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.5 *       | Third Amendment, Consent and Waiver to Credit Agreement and First Amendment to Intercompany Subordination Agreement and Mortgages, dated as of February 18, 2009, among Lee Enterprises, Incorporated (“Company”), Deutsche Bank Trust Company Americas (“Deutsche Bank Trust”), as Administrative Agent and as Collateral Agent, and the Lenders party to the Amended and Restated Credit Agreement, dated as of December 21, 2005, among the Company, Deutsche Bank Trust, as Administrative Agent, Deutsche Bank Securities Inc. and SunTrust Capital Markets, Inc., as Joint Lead Arrangers, Deutsche Bank Securities Inc., as Book Running Manager, SunTrust Bank, as Syndication Agent, and Bank of America, N.A., The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd., Chicago Branch, as Co-Documentation Agents and other Lenders party thereto. (Exhibit 10.1 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009) |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.6 *       | Security Agreement, dated as of November 21, 2008, among Lee Enterprises, Incorporated and certain of its subsidiaries in favor of Deutsche Bank Trust Company Americas, as Collateral Agent (Exhibit 10.1 to Form 8-K filed December 17, 2008)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.7 *       | Amended and Restated Pledge Agreement, dated as of December 21, 2005, among Lee Enterprises, Incorporated (“Company”) and certain Subsidiaries of the Company party thereto and Deutsche Bank Trust Company Americas, as Collateral Agent (Exhibit 10.2 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.8 *       | Amended and Restated Subsidiaries Guaranty, dated as of December 21, 2005, among Lee Enterprises, Incorporated (“Company”) and certain Subsidiaries of the Company party thereto in favor of Deutsche Bank Trust Company Americas, as Administrative Agent (Exhibit 10.3 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.9 *       | Amended and Restated Intercompany Subordination Agreement, dated as of December 21, 2005, among Lee Enterprises, Incorporated (“Company”) and certain Subsidiaries of the Company party thereto and Deutsche Bank Trust Company Americas, as Collateral Agent (Exhibit 10.4 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.10 * | St. Louis Post-Dispatch LLC Note Agreement, dated as of May 1, 2000, as amended by Amendment No. 1 to Note Agreement, entered into as of November 23, 2004 (Exhibit 10.8 to Form 10-Q for the Fiscal Quarter Ended June 30, 2005)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.11 *      | Amendment No. 2 to Note Agreement, entered into as of February 1, 2006, by and between St. Louis Post-Dispatch LLC and the Note Holders party thereto related to the St. Louis Post-Dispatch LLC Note Agreement, dated as of May 1, 2000, as amended (Exhibit 10.14 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.12 *      | Amendment No. 3 to Note Agreement, entered into as of November 19, 2008, by and between St. Louis Post-Dispatch LLC and the Note Holders party thereto related to St. Louis Post-Dispatch LLC Note Agreement, dated as of May 1, 2000, as amended (Exhibit 10.15 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.13 *      | Limited Waiver to Note Agreement and Guaranty Agreement entered into as of December 26, 2008 by and among St. Louis Post-Dispatch LLC, Pulitzer Inc. and the Note Holders party thereto (Exhibit 10.16 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.14 *      | Fourth Amendment to Note Agreement and First Amendment to Limited Waiver to Note Agreement and Guaranty Agreement entered into as of January 16, 2009 by and among St. Louis Post-Dispatch LLC, Pulitzer Inc. and the Noteholders party thereto (Exhibit 10.1 to Form 8-K filed January 20, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.15 *      | Second Amendment to Limited Waiver to Note Agreement and Guaranty Agreement entered into as of January 30, 2009 by and among St. Louis Post-Dispatch LLC, Pulitzer Inc. and the Noteholders party thereto (Exhibit 10.1 to Form 8-K filed February 3, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.16 *      | Third Amendment to Limited Waiver to Note Agreement and Guaranty Agreement, dated as of February 6, 2009, among St. Louis Post-Dispatch LLC, Pulitzer Inc. and the Noteholders party thereto (Exhibit 10.5 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.17 *      | Limited Waiver and Amendment No. 5 to Note Agreement, dated as of February 18, 2009, among St. Louis Post-Dispatch LLC and the Noteholders party thereto (Exhibit 10.6 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.18 *      | Security Agreement, dated as of February 18, 2009, among Pulitzer Inc., St. Louis Post-Dispatch LLC and each Subsidiary of the Company party thereto (Exhibit 10.7 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

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|               |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number        | Description                                                                                                                                                                                                                                                                                                                                                                                                                   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.19 *       | Pledge Agreement, dated as of February 18, 2009, among Pulitzer Inc., St. Louis Post-Dispatch LLC and each Subsidiary of Pulitzer Inc. party thereto in favor of The Bank New York Mellon Trust Company, N.A., as Collateral Agent, on behalf and for the benefit of the Secured Parties (as defined therein) (Exhibit 10.8 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                    |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.20 *       | Set-Off Agreement, dated as of February 18, 2009, among Lee Enterprises, Incorporated, Lee Procurement Solutions Co. and Pulitzer Inc. (Exhibit 10.10 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                                          |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.21 *       | Redemption Agreement, dated February 18, 2009, among St. Louis Post-Dispatch LLC, STL Distribution Services LLC, The Herald Publishing Company, LLC, Pulitzer Inc. and Pulitzer Technologies, Inc. (Exhibit 10.12 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                              |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.22 *  | Pulitzer Inc. Guaranty Agreement, dated as of May 1, 2000 as amended by Amendment No. 1 to Guaranty Agreement, dated as of August 7, 2000, as further amended by Amendment No. 2 to Guaranty Agreement, dated as of November 23, 2004, and further amended by Amendment No. 3 to Guaranty Agreement, dated as of June 3, 2005 (Exhibit 10.9 to Form 10-Q for the Fiscal Quarter Ended June 30, 2005) |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.23 *       | Amendment No. 4 to Guaranty Agreement, dated as of February 1, 2006, by Pulitzer Inc. related to the Pulitzer Inc. Guaranty Agreement, dated as of May 1, 2000, as amended (Exhibit 10.18 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                     |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.24 *       | Limited Waiver and Amendment No. 5 to Guaranty Agreement, dated as of February 18, 2009, among Pulitzer Inc., in favor of the Noteholders under the Note Agreement, dated as of May 1, 2000, among St. Louis Post-Dispatch LLC and the Noteholders party thereto (Exhibit 10.11 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.25 *       | Subsidiary Guaranty Agreement, dated as of February 18, 2009, among the Subsidiaries of Pulitzer Inc. party thereto in favor of the Noteholders under the Note Agreement, dated as of May 1, 2000, among St. Louis Post-Dispatch LLC and the Noteholders party thereto (Exhibit 10.9 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                           |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.26 *       | Operating Agreement of St. Louis Post-Dispatch LLC, dated as of May 1, 2000, as amended by Amendment No. 1 to Operating Agreement of St. Louis Post-Dispatch LLC, dated as of June 1, 2001 (Exhibit 10.5 to Form 10-Q for the Fiscal Quarter Ended June 30, 2005)                                                                                                                                              |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.27 *       | Amendment Number Two to Operating Agreement of St. Louis Post-Dispatch LLC, effective February 18, 2009, between Pulitzer Inc. and Pulitzer Technologies, Inc. (Exhibit 10.13 to Form 10-Q for the Fiscal Quarter Ended March 29, 2009)                                                                                                                                                                                  |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.28 *  | Amended and Restated Joint Operating Agreement, dated December 22, 1988, between Star Publishing Company and Citizen Publishing Company (Exhibit 10.2 to Form 10-Q for the Fiscal Quarter Ended June 30, 2005)                                                                                                                                                                                                           |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.29 *  | Amended and Restated Partnership Agreement, dated as of November 30, 2009, between Star Publishing Company and Citizen Publishing Company (Exhibit 10.2 to Form 10-Q for the Fiscal Quarter Ended December 27, 2009)                                                                                                                                                                                                          |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.30*        | Amended and Restated Management Agreement, dated as of November 30, 2009, between Star Publishing Company and Citizen Publishing Company (Exhibit 10.1 to Form 10-Q for the Fiscal Quarter Ended December 27, 2009)                                                                                                                                                                                                      |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.31*        | License Agreement (Star), as amended and restated November 30, 2009, between Star Publishing Company and TNI Partners (Exhibit 10.3 to Form 10-Q for the Fiscal Quarter Ended December 27, 2009)                                                                                                                                                                                                                              |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.32*   | License Agreement (Citizen), as amended and restated November 30, 2009, between Citizen Publishing Company and TNI Partners (Exhibit 10.4 to Form 10-Q for the Fiscal Quarter Ended December 27, 2009)                                                                                                                                                                                                                        |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.33 *  | Lease Agreement between Ryan Companies US, Inc. and Lee Enterprises, Incorporated dated May 2003 (Exhibit 10.7 to Form 10-K for the Fiscal Year Ended September 30, 2003)                                                                                                                                                                                                                                                     |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.34 *       | License Agreement, dated as of May 1, 2000, by and between Pulitzer Inc. and St. Louis Post-Dispatch LLC (Exhibit 10.7 to Form 10-Q for the Fiscal Quarter Ended June 30, 2005)                                                                                                                                                                                                                                          |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.35 *  | Non-Confidentiality Agreement, dated as of May 1, 2000 (Exhibit 10.10 to Form 10-Q for the Fiscal Quarter Ended June 30, 2005)                                                                                                                                                                                                                                                                                           |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.36 +* | Form of Director Compensation Agreement of Lee Enterprises, Incorporated for non-employee director deferred compensation (Exhibit 10.7 to Form 10-K for the Fiscal Year Ended September 30, 2004)                                                                                                                                                                                                                             |

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|                 |                                                                                                                                                                                                                                                                                                                                                                                           |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Number          | Description                                                                                                                                                                                                                                                                                                                                                                               |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.37.1 +* | Amended and Restated Lee Enterprises, Incorporated 1990 Long-Term Incentive Plan (effective October 1, 1999, as amended effective January 6, 2010) (Exhibit B to Schedule 14A Definitive Proxy Statement for 2010)                                                                                                                                                                        |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.37.2 +* | Forms of related Incentive Stock Option Agreement, Non-Qualified Stock Option Agreement, Accelerated Ownership Stock Option Agreement and Restricted Stock Agreement related to Lee Enterprises, Incorporated 1990 Long-Term Incentive Plan (effective as of October 1, 1999, as amended November 16, 2005). (Exhibit 10.15.1a to Form 10-K for the Fiscal Year Ended September 30, 2005) |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.38 +*   | Amended and Restated Lee Enterprises, Incorporated 1996 Stock Plan for Non-Employee Directors Effective February 17, 2010 (Exhibit A to Schedule 14A Definitive Proxy Statement for 2010)                                                                                                                                                                                            |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.39 +*   | Lee Enterprises, Incorporated Supplementary Benefit Plan, Amended and Restated as of January 1, 2008 (Exhibit 10.25 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                                                            |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.40 +*        | Lee Enterprises, Incorporated Outside Directors Deferral Plan, Amended and Restated as of January 1, 2008 (Exhibit 10.26 to Form 10-K for the Fiscal Year Ended September 28, 2008)                                                                                                                                                                                                       |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.41 +*        | Form of Amended and Restated Employment Agreement for certain Lee Enterprises, Incorporated Executive Officers Group (Exhibit 10.2 to Form 10-Q for the Fiscal Quarter Ended March 30, 2008)                                                                                                                                                                                              |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.42 +*   | Form of Indemnification Agreement for Lee Enterprises, Incorporated Directors and Executive Officers Group (Exhibit 10.2 to Form 10-Q for the Fiscal Quarter Ended March 30, 2008)                                                                                                                                                                                                   |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.43 +*   | Lee Enterprises, Incorporated 2005 Incentive Compensation Program (Appendix A to Schedule 14A Definitive Proxy Statement for 2005)                                                                                                                                                                                                                                                        |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.44 +*   | Cancellation Agreement dated November 19, 2004 between Lee Enterprises, Incorporated and Mary E. Junck (Exhibit 10.1 to Form 8-K filed on November 26, 2004)                                                                                                                                                                                                                              |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 21              | Subsidiaries and associated companies                                                                                                                                                                                                                                                                                                                                                     |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 23.1            | Consent of KPMG LLP, Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                                                                                        |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 23.2            | Consent of McGladrey & Pullen LLP, Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                                                                      |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 23.3            | Report of McGladrey & Pullen LLP, Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                                                                       |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 24              | Power of Attorney                                                                                                                                                                                                                                                                                                                                                                         |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.1            | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                        |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 31.2            | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                        |
|            |                                                                                                                                                                                                                                                                                                                                                                                      |
| 32              | Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                            |

----

Table of Contents

|                                                                       |        |
|-----------------------------------------------------------------------|--------|
| CONSOLIDATED FINANCIAL STATEMENTS                                     | PAGE   |
|                                                                  |   |
| Consolidated Statements of Operations and Comprehensive Income (Loss) | 45     |
|                                                                  |   |
| Consolidated Balance Sheets                                           | 46     |
|                                                                  |   |
| Consolidated Statements of Stockholders' Equity                       | 48     |
|                                                                  |   |
| Consolidated Statements of Cash Flows                                 | 49     |
|                                                                  |   |
| Notes to Consolidated Financial Statements                            | 50     |
|                                                                  |   |
| Report of Independent Registered Public Accounting Firm               | 81     |

----

Table of Contents

|                                                                                        |         |        |        |           |        |        |            |        |
|----------------------------------------------------------------------------------------|---------|--------|--------|-----------|--------|--------|------------|--------|
| (Thousands of Dollars, Except Per Common Share Data)                                   | 2010    |   |   | 2009      |   |   | 2008       |   |
|                                                                                   |    |   |   |      |   |
| Operating revenue:                                                                     |    |   |   |      |   |
| Advertising                                                                            | 560,104 |   |   | 614,674   |   |   | 783,699    |   |
| Circulation                                                                            | 179,851 |   |   | 185,154   |   |   | 195,457    |   |
| Other                                                                                  | 40,693  |   |   | 42,202    |   |   | 49,712     |   |
| Total operating revenue                                                                | 780,648 |   |   | 842,030   |   |   | 1,028,868  |   |
| Operating expenses:                                                                    |    |   |   |      |   |
| Compensation                                                                           | 315,698 |   |   | 339,014   |   |   | 421,652    |   |
| Newsprint and ink                                                                      | 54,436  |   |   | 72,311    |   |   | 103,926    |   |
| Other operating expenses                                                               | 238,191 |   |   | 257,060   |   |   | 292,840    |   |
| Depreciation                                                                           | 27,971  |   |   | 32,807    |   |   | 34,670     |   |
| Amortization of intangible assets                                                      | 45,208  |   |   | 46,792    |   |   | 56,408     |   |
| Impairment of goodwill and other assets                                                | 3,290   |   |   | 245,953   |   |   | 1,070,808  |   |
| Workforce adjustments and transition costs                                             | 1,420   |   |   | 6,650     |   |   | 3,428      |   |
| Total operating expenses                                                               | 686,214 |   |   | 1,000,587 |   |   | 1,983,732  |   |
| Curtailment gains                                                                      | 45,012  |   |   | —   |   |   | —    |   |
| Equity in earnings of associated companies                                             | 7,746   |   |   | 5,120     |   |   | 10,211     |   |
| Reduction in investment in TNI                                                         | — |   |   | (19,951   | )      |   | (104,478   | )      |
| Operating income (loss)                                                                | 147,192 |   |   | (173,388  | )      |   | (1,049,131 | )      |
| Non-operating income (expense):                                                        |    |   |   |      |   |
| Financial income                                                                       | 411     |   |   | 1,886     |   |   | 5,857      |   |
| Financial expense                                                                      | (63,117 | )      |   | (75,425   | )      |   | (67,967    | )      |
| Debt financing costs                                                                   | (8,514  | )      |   | (17,467   | )      |   | (3,505     | )      |
| Other, net                                                                             | (1,172  | )      |   | 1,823     |   |   | 885        |   |
| Total non-operating expense, net                                                       | (72,392 | )      |   | (89,183   | )      |   | (64,730    | )      |
| Income (loss) before income taxes                                                      | 74,800  |   |   | (262,571  | )      |   | (1,113,861 | )      |
| Income tax expense (benefit)                                                           | 28,622  |   |   | (82,509   | )      |   | (242,633   | )      |
| Income (loss) from continuing operations                                               | 46,178  |   |   | (180,062  | )      |   | (871,228   | )      |
| Discontinued operations:                                                               |    |   |   |      |   |
| Income from discontinued operations, net of income tax effect                          | — |   |   | —   |   |   | 84         |   |
| Gain (loss) on disposition, net of income tax effect                                   | — |   |   | (5        | )      |   | 201        |   |
| Net income (loss)                                                                      | 46,178  |   |   | (180,067  | )      |   | (870,943   | )      |
| Net income attributable to non-controlling interests                                   | (73     | )      |   | (179      | )      |   | (535       | )      |
| Decrease (increase) in redeemable non-controlling interest                             | — |   |   | 57,055    |   |   | (8,838     | )      |
| Income (loss) attributable to Lee Enterprises, Incorporated                            | 46,105  |   |   | (123,191  | )      |   | (880,316   | )      |
| Other comprehensive income (loss), net                                                 | (14,704 | )      |   | (21,839   | )      |   | 1,001      |   |
| Comprehensive income (loss)                                                            | 31,401  |   |   | (145,030  | )      |   | (879,315   | )      |
|                                                                                   |    |   |   |      |   |
| Income (loss) from continuing operations attributable to Lee Enterprises, Incorporated | 46,105  |   |   | (123,186  | )      |   | (880,601   | )      |
|                                                                                   |    |   |   |      |   |
| Earnings (loss) per common share:                                                      |    |   |   |      |   |
| Basic:                                                                                 |    |   |   |      |   |
| Continuing operations                                                                  | 1.03    |   |   | (2.77     | )      |   | (19.65     | )      |
| Discontinued operations                                                                | — |   |   | —   |   |   | 0.01       |   |
|                                                                                   | 1.03    |   |   | (2.77     | )      |   | (19.64     | )      |
|                                                                                   |    |   |   |      |   |
| Diluted:                                                                               |    |   |   |      |   |
| Continuing operations                                                                  | 1.03    |   |   | (2.77     | )      |   | (19.65     | )      |
| Discontinued operations                                                                | — |   |   | —   |   |   | 0.01       |   |
|                                                                                   | 1.03    |   |   | (2.77     | )      |   | (19.64     | )      |
|                                                                                   |    |   |   |      |   |
| Dividends per common share                                                             | — |   |   | —   |   |   | 0.76       |   |

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Table of Contents

|                                                            |                       |        |        |                       |        |
|------------------------------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                                     | September 262010 |   |   | September 272009 |   |
|                                                       |                  |   |   |
| ASSETS                                                     |                  |   |   |
|                                                       |                  |   |   |
| Current assets:                                            |                  |   |   |
| Cash and cash equivalents                                  | 19,422                |   |   | 7,905                 |   |
| Accounts receivable, less allowance for doubtful accounts: |                  |   |   |
| 2010 $5,763; 2009 $6,275                                   | 77,558                |   |   | 79,731                |   |
| Income taxes receivable                                    | —               |   |   | 5,625                 |   |
| Inventories                                                | 10,822                |   |   | 13,854                |   |
| Deferred income taxes                                      | 2,687                 |   |   | 3,638                 |   |
| Other                                                      | 11,128                |   |   | 7,354                 |   |
| Total current assets                                       | 121,617               |   |   | 118,107               |   |
| Investments:                                               |                  |   |   |
| Associated companies                                       | 58,122                |   |   | 58,073                |   |
| Restricted cash and investments                            | 9,623                 |   |   | 9,324                 |   |
| Other                                                      | 9,594                 |   |   | 9,498                 |   |
| Total investments                                          | 77,339                |   |   | 76,895                |   |
| Property and equipment:                                    |                  |   |   |
| Land and improvements                                      | 28,075                |   |   | 30,365                |   |
| Buildings and improvements                                 | 194,344               |   |   | 195,573               |   |
| Equipment                                                  | 316,697               |   |   | 316,364               |   |
| Construction in process                                    | 811                   |   |   | 1,985                 |   |
|                                                       | 539,927               |   |   | 544,287               |   |
| Less accumulated depreciation                              | 304,527               |   |   | 281,318               |   |
| Property and equipment, net                                | 235,400               |   |   | 262,969               |   |
| Goodwill                                                   | 433,552               |   |   | 433,552               |   |
| Other intangible assets, net                               | 558,140               |   |   | 603,348               |   |
| Other                                                      | 14,068                |   |   | 20,741                |   |
|                                                       |                  |   |   |
|                                                       |                  |   |   |
|                                                       |                  |   |   |
|                                                       |                  |   |   |
|                                                       |                  |   |   |
| Total assets                                               | 1,440,116             |   |   | 1,515,612             |   |

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Table of Contents

|                                                                                       |                       |        |        |                       |        |
|---------------------------------------------------------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars and Shares, Except Per Share Data)                              | September 262010 |   |   | September 272009 |   |
|                                                                                  |                  |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                  |                  |   |   |
|                                                                                  |                  |   |   |
| Current liabilities:                                                                  |                  |   |   |
| Current maturities of long-term debt                                                  | 81,500                |   |   | 89,800                |   |
| Accounts payable                                                                      | 30,529                |   |   | 31,377                |   |
| Compensation and other accrued liabilities                                            | 38,117                |   |   | 42,755                |   |
| Income taxes payable                                                                  | 1,082                 |   |   | —               |   |
| Unearned revenue                                                                      | 36,624                |   |   | 37,001                |   |
| Total current liabilities                                                             | 187,852               |   |   | 200,933               |   |
| Long-term debt, net of current maturities                                             | 1,000,927             |   |   | 1,079,993             |   |
| Pension obligations                                                                   | 54,566                |   |   | 45,953                |   |
| Postretirement and postemployment benefit obligations                                 | 9,979                 |   |   | 40,687                |   |
| Deferred income taxes                                                                 | 102,616               |   |   | 93,766                |   |
| Income taxes payable                                                                  | 11,919                |   |   | 12,839                |   |
| Other                                                                                 | 15,150                |   |   | 17,591                |   |
| Total liabilities                                                                     | 1,383,009             |   |   | 1,491,762             |   |
| Stockholders' equity:                                                                 |                  |   |   |
| Serial convertible preferred stock, no par value; authorized 500 shares; none issued  | —               |   |   | —               |   |
| Common Stock, $2 par value; authorized 120,000 shares; issued and outstanding:        | 78,554                |   |   | 78,278                |   |
| 2010; 39,277 shares;                                                                  |                  |   |   |
| 2009; 39,139 shares                                                                   |                  |   |   |
| Class B Common Stock, $2 par value; authorized 30,000 shares; issued and outstanding: | 11,352                |   |   | 11,552                |   |
| 2010; 5,676 shares;                                                                   |                  |   |   |
| 2009; 5,776 shares                                                                    |                  |   |   |
| Additional paid-in capital                                                            | 139,460               |   |   | 137,713               |   |
| Accumulated deficit                                                                   | (179,194              | )      |   | (225,299              | )      |
| Accumulated other comprehensive income                                                | 6,651                 |   |   | 21,354                |   |
|   Total stockholders' equity                                                | 56,823                |   |   | 23,598                |   |
|   Non-controlling interests                                                 | 284                   |   |   | 252                   |   |
| Total equity                                                                          | 57,107                |   |   | 23,850                |   |
| Total liabilities and equity                                                          | 1,440,116             |   |   | 1,515,612             |   |

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Table of Contents

|                                                             |          |        |        |          |        |        |          |        |        |        |        |        |        |        |        |        |        |
|-------------------------------------------------------------|----------|--------|--------|----------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                        | Amount   |   | Shares |
| (Thousands of Dollars and Shares)                           | 2010     |   |   | 2009     |   |   | 2008     |   |   | 2010   |   |   | 2009   |   |   | 2008   |   |
|                                                        |     |   |   |     |   |   |     |   |   |
| Common Stock:                                               | 78,278   |   |   | 78,222   |   |   | 79,958   |   |   | 39,139 |   |   | 39,111 |   |   | 39,979 |   |
| Balance, beginning of year                                  |     |   |   |     |   |   |     |   |   |   |   |
| Conversion from Class B Common Stock                        | 200      |   |   | 406      |   |   | 458      |   |   | 100    |   |   | 203    |   |   | 229    |   |
| Shares issued                                               | 190      |   |   | 82       |   |   | 1,404    |   |   | 95     |   |   | 41     |   |   | 702    |   |
| Shares reacquired                                           | (114     | )      |   | (432     | )      |   | (3,598   | )      |   | (57    | )      |   | (216   | )      |   | (1,799 | )      |
| Balance, end of year                                        | 78,554   |   |   | 78,278   |   |   | 78,222   |   |   | 39,277 |   |   | 39,139 |   |   | 39,111 |   |
| Class B Common Stock:                                       |     |   |   |     |   |   |     |   |   |   |   |
| Balance, beginning of year                                  | 11,552   |   |   | 11,958   |   |   | 12,416   |   |   | 5,776  |   |   | 5,979  |   |   | 6,208  |   |
| Conversion to Common Stock                                  | (200     | )      |   | (406     | )      |   | (458     | )      |   | (100   | )      |   | (203   | )      |   | (229   | )      |
| Balance, end of year                                        | 11,352   |   |   | 11,552   |   |   | 11,958   |   |   | 5,676  |   |   | 5,776  |   |   | 5,979  |   |
| Additional paid-in capital:                                 |     |   |   |     |   |   |     |   |   |   |   |
| Balance, beginning of year                                  | 137,713  |   |   | 134,289  |   |   | 132,090  |   |   |   |   |   |   |   |
|     Stock compensation                  | 1,911    |   |   | 3,440    |   |   | 6,176    |   |   |   |   |   |   |   |
| Income tax expense related to stock compensation            | —  |   |   | —  |   |   | (3,413   | )      |   |   |   |   |   |   |
| Shares redeemed                                             | (164     | )      |   | (16      | )      |   | (564     | )      |   |   |   |   |   |   |
| Balance, end of year                                        | 139,460  |   |   | 137,713  |   |   | 134,289  |   |   |   |   |   |   |   |
| Retained earnings (accumulated deficit):                    |     |   |   |     |   |   |     |   |   |   |   |
| Balance, beginning of year                                  | (225,299 | )      |   | (112,144 | )      |   | 819,786  |   |   |   |   |   |   |   |
| Net income (loss)                                           | 46,178   |   |   | (180,067 | )      |   | (870,943 | )      |   |   |   |   |   |   |
| Net income attributable to non-controlling interests        | (73      | )      |   | (179     | )      |   | (535     | )      |   |   |   |   |   |   |
| Shares reacquired                                           | —  |   |   | —  |   |   | (15,472  | )      |   |   |   |   |   |   |
| Adoption of FASB ASC Topic 740                              | —  |   |   | —  |   |   | (1,733   | )      |   |   |   |   |   |   |
| Adoption of FASB ASC Topic 715                              | —  |   |   | (267     | )      |   | —  |   |   |   |   |   |   |   |
| Change in redeemable minority interest                      | —  |   |   | 67,358   |   |   | (8,838   | )      |   |   |   |   |   |   |
| Cash dividends                                              | —  |   |   | —  |   |   | (34,409  | )      |   |   |   |   |   |   |
| Balance, end of year                                        | (179,194 | )      |   | (225,299 | )      |   | (112,144 | )      |   |   |   |   |   |   |
| Accumulated other comprehensive income:                     |     |   |   |     |   |   |     |   |   |   |   |
| Balance, beginning of year                                  | 21,354   |   |   | 43,193   |   |   | 42,192   |   |   |   |   |   |   |   |
| Unrealized gain (loss) on interest rate exchange agreements | 2,334    |   |   | 1,004    |   |   | (4,776   | )      |   |   |   |   |   |   |
| Unrealized gain (loss) on available-for-sale securities     | —  |   |   | (680     | )      |   | 72       |   |   |   |   |   |   |   |
| Change in pension and postretirement benefits               | (26,179  | )      |   | (33,897  | )      |   | 8,354    |   |   |   |   |   |   |   |
| Adoption of FASB ASC Topic 715                         | —  |   |   | (903     | )      |   | —  |   |   |   |   |   |   |   |
| Deferred income taxes, net                                  | 9,142    |   |   | 12,637   |   |   | (2,649   | )      |   |   |   |   |   |   |
| Balance, end of year                                        | 6,651    |   |   | 21,354   |   |   | 43,193   |   |   |   |   |   |   |   |
| Total stockholders' equity                                  | 56,823   |   |   | 23,598   |   |   | 155,518  |   |   | 44,953 |   |   | 44,915 |   |   | 45,090 |   |

----

Table of Contents

|                                                                                                                                          |          |        |        |          |        |        |           |        |
|------------------------------------------------------------------------------------------------------------------------------------------|----------|--------|--------|----------|--------|--------|-----------|--------|
| (Thousands of Dollars)                                                                                                                   | 2010     |   |   | 2009     |   |   | 2008      |   |
|                                                                                                                                     |     |   |   |     |   |
| Cash provided by operating activities:                                                                                                   |     |   |   |     |   |
| Net income (loss)                                                                                                                        | 46,178   |   |   | (180,067 | )      |   | (870,943  | )      |
| Results of discontinued operations                                                                                                       | —  |   |   | (5       | )      |   | 285       |   |
| Income (loss) from continuing operations                                                                                                 | 46,178   |   |   | (180,062 | )      |   | (871,228  | )      |
| Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities of continuing operations: |     |   |   |     |   |
| Depreciation and amortization                                                                                                            | 73,179   |   |   | 79,599   |   |   | 91,078    |   |
| Impairment of goodwill and other assets                                                                                                  | 3,290    |   |   | 245,953  |   |   | 1,070,808 |   |
| Curtailment gains                                                                                                                        | (45,012  | )      |   | —  |   |   | —   |   |
| Reduction in investment in TNI                                                                                                           | —  |   |   | 19,951   |   |   | 104,478   |   |
| Accretion of debt fair value adjustment                                                                                                  | (621     | )      |   | (3,807   | )      |   | (7,990    | )      |
| Stock compensation expense                                                                                                               | 1,974    |   |   | 3,013    |   |   | 5,905     |   |
| Distributions greater (less) than earnings of associated companies                                                                       | 334      |   |   | (609     | )      |   | 1,772     |   |
| Deferred income tax expense (benefit)                                                                                                    | 18,943   |   |   | (78,500  | )      |   | (261,738  | )      |
| Debt financing costs                                                                                                                     | 8,480    |   |   | 17,467   |   |   | 3,505     |   |
| Changes in operating assets and liabilities:                                                                                             |     |   |   |     |   |
| Decrease in receivables                                                                                                                  | 7,798    |   |   | 15,174   |   |   | 19,777    |   |
| Decrease (increase) in inventories and other                                                                                             | 3,031    |   |   | 3,866    |   |   | (4,875    | )      |
| Decrease in accounts payable, accrued expenses and unearned revenue                                                                      | (6,450   | )      |   | (39,067  | )      |   | (18,304   | )      |
| Decrease in pension, postretirement and post employment benefits                                                                         | (3,261   | )      |   | (6,677   | )      |   | (315      | )      |
| Change in income taxes receivable or payable                                                                                             | 162      |   |   | (4,208   | )      |   | 5,125     |   |
| Other                                                                                                                                    | (1,454   | )      |   | 1,964    |   |   | (1,386    | )      |
| Net cash provided by operating activities of continuing operations                                                                       | 106,571  |   |   | 74,057   |   |   | 136,612   |   |
| Cash provided by (required for) investing activities of continuing operations:                                                           |     |   |   |     |   |
| Purchases of marketable securities                                                                                                       | —  |   |   | (47,777  | )      |   | (115,555  | )      |
| Sales or maturities of marketable securities                                                                                             | —  |   |   | 166,109  |   |   | 87,873    |   |
| Purchases of property and equipment                                                                                                      | (9,458   | )      |   | (11,555  | )      |   | (20,606   | )      |
| Decrease (increase) in restricted cash                                                                                                   | (299     | )      |   | (2,291   | )      |   | 13,771    |   |
| Proceeds from sale of assets                                                                                                             | 2,332    |   |   | 1,418    |   |   | 12,685    |   |
| Acquisitions, net                                                                                                                        | —  |   |   | —  |   |   | (1,624    | )      |
| Other                                                                                                                                    | (265     | )      |   | 3,081    |   |   | 8,493     |   |
| Net cash provided by (required for) investing activities of continuing operations                                                        | (7,690   | )      |   | 108,985  |   |   | (14,963   | )      |
| Cash provided by (required for) financing activities of continuing operations:                                                           |     |   |   |     |   |
| Proceeds from long-term debt                                                                                                             | 83,800   |   |   | 195,950  |   |   | 134,400   |   |
| Payments on long-term debt                                                                                                               | (170,545 | )      |   | (359,990 | )      |   | (197,650  | )      |
| Debt financing costs paid                                                                                                                | (453     | )      |   | (26,061  | )      |   | —   |   |
| Cash dividends paid                                                                                                                      | —  |   |   | (8,539   | )      |   | (32,573   | )      |
| Common stock transactions, net                                                                                                           | (166     | )      |   | 49       |   |   | (17,537   | )      |
| Net cash required for financing activities of continuing operations                                                                      | (87,364  | )      |   | (198,591 | )      |   | (113,360  | )      |
| Net cash provided by (required for) discontinued operations:                                                                             |     |   |   |     |   |
| Operating activities                                                                                                                     | —  |   |   | (5       | )      |   | (8,741    | )      |
| Investing activities                                                                                                                     | —  |   |   | —  |   |   | 23,911    |   |
| Net increase (decrease) in cash and cash equivalents                                                                                     | 11,517   |   |   | (15,554  | )      |   | 23,459    |   |
| Cash and cash equivalents:                                                                                                               |     |   |   |     |   |
| Beginning of year                                                                                                                        | 7,905    |   |   | 23,459   |   |   | —   |   |
| End of year                                                                                                                              | 19,422   |   |   | 7,905    |   |   | 23,459    |   |

----

Table of Contents

|   |                                 |
|---|---------------------------------|
| 1 | SIGNIFICANT ACCOUNTING POLICIES |

----

Table of Contents

|                        |                       |        |        |                       |        |
|------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars) | September 262010 |   |   | September 272009 |   |
|                   |                  |   |   |
| First-in, first-out    | 2,615                 |   |   | 3,309                 |   |
| Last-in, first-out     | 5,131                 |   |   | 6,798                 |   |
|                   | 7,746                 |   |   | 10,107                |   |

|                                          |                  |
|------------------------------------------|------------------|
|                                     | Years            |
|                                     |             |
| Buildings and improvements               | 5 - 54 |
| Printing presses and insertion equipment | 2 - 28 |
| Other                                    | 3 - 20      |

|                                      |                  |
|--------------------------------------|------------------|
|                                 | Years            |
|                                 |             |
| Customer lists                       | 5 - 23           |
| Newspaper subscriber lists           | 7 - 33 |
| Noncompete and consulting agreements | 5 - 15 |

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|   |              |
|---|--------------|
| 2 | ACQUISITIONS |

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Table of Contents

|   |                         |
|---|-------------------------|
| 3 | DISCONTINUED OPERATIONS |

|                                                                     |         |        |        |        |        |
|---------------------------------------------------------------------|---------|--------|--------|--------|--------|
| (Thousands of Dollars)                                              | 2009    |   |   | 2008   |   |
|                                                                |    |   |   |
| Operating revenue                                                   | — |   |   | 1,376  |   |
|                                                                |    |   |   |   |   |
| Income from discontinued operations                                 | — |   |   | 128    |   |
| Gain (loss) on sale of discontinued operations, before income taxes | (8      | )      |   | 5,786  |   |
| Income tax expense (benefit), net                                   | (3      | )      |   | 5,629  |   |
|                                                                | (5      | )      |   | 285    |   |

|                                                                |        |        |        |      |
|----------------------------------------------------------------|--------|--------|--------|------|
|                                                           | 2009   |   |   | 2008 |
|                                                           |   |   |   |
| Computed “expected” income tax expense (benefit)   | (35.0  | )      |   | 35.0 |
| State income taxes (benefit), net of federal income tax impact | (3.0   | )      |   | 3.0  |
| Other, primarily goodwill basis differences                    | 0.5    |   |   | 57.2 |
|                                                           | (37.5  | )      |   | 95.2 |

|   |                                     |
|---|-------------------------------------|
| 4 | INVESTMENTS IN ASSOCIATED COMPANIES |

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Table of Contents

|                                       |                       |        |        |                       |        |
|---------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                | September 262010 |   |   | September 272009 |   |
|                                  |                  |   |   |
| ASSETS                                |                  |   |   |
|                                  |                  |   |   |
| Current assets                        | 7,812                 |   |   | 6,772                 |   |
| Investments and other assets          | 32                    |   |   | 19                    |   |
| Total assets                          | 7,844                 |   |   | 6,791                 |   |
|                                  |                  |   |   |
| LIABILITIES AND MEMBERS' EQUITY       |                  |   |   |
|                                  |                  |   |   |
| Current liabilities                   | 5,109                 |   |   | 5,431                 |   |
| Members' equity                       | 2,735                 |   |   | 1,360                 |   |
| Total liabilities and members' equity | 7,844                 |   |   | 6,791                 |   |

|                                                             |        |        |        |        |        |        |        |        |
|-------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
| (Thousands of Dollars)                                      | 2010   |   |   | 2009   |   |   | 2008   |   |
|                                                        |   |   |   |   |   |
| Operating revenue                                           | 64,379 |   |   | 74,407 |   |   | 98,156 |   |
| Operating expenses, excluding depreciation and amortization | 53,707 |   |   | 66,535 |   |   | 76,978 |   |
|                                                        | 10,672 |   |   | 7,872  |   |   | 21,178 |   |
|                                                        |   |   |   |   |   |
| Company's 50% share                                         | 5,336  |   |   | 3,936  |   |   | 10,589 |   |
| Less amortization of intangible assets                      | 1,156  |   |   | 1,425  |   |   | 4,418  |   |
| Equity in earnings of TNI                                   | 4,180  |   |   | 2,511  |   |   | 6,171  |   |

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|                                            |                       |        |        |                       |        |
|--------------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                     | September 262010 |   |   | September 272009 |   |
|                                       |                  |   |   |
| ASSETS                                     |                  |   |   |
|                                       |                  |   |   |
| Current assets                             | 20,284                |   |   | 17,677                |   |
| Investments and other assets               | 30,982                |   |   | 31,481                |   |
| Property and equipment, net                | 10,013                |   |   | 11,346                |   |
| Total assets                               | 61,279                |   |   | 60,504                |   |
|                                       |                  |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY       |                  |   |   |
|                                       |                  |   |   |
| Current liabilities                        | 8,583                 |   |   | 7,941                 |   |
| Other liabilities                          | 5,100                 |   |   | 4,299                 |   |
| Stockholders' equity                       | 47,596                |   |   | 48,264                |   |
| Total liabilities and stockholders' equity | 61,279                |   |   | 60,504                |   |

|                                                             |        |        |        |        |        |        |         |        |
|-------------------------------------------------------------|--------|--------|--------|--------|--------|--------|---------|--------|
| (Thousands of Dollars)                                      | 2010   |   |   | 2009   |   |   | 2008    |   |
|                                                        |   |   |   |   |   |
| Operating revenue                                           | 75,137 |   |   | 79,291 |   |   | 100,352 |   |
| Operating expenses, excluding depreciation and amortization | 61,763 |   |   | 68,296 |   |   | 84,345  |   |
| Operating income                                            | 11,002 |   |   | 7,755  |   |   | 11,949  |   |
| Net income                                                  | 7,132  |   |   | 5,218  |   |   | 8,080   |   |
|                                                        |   |   |   |   |   |
| Company's 50% share of net income                           | 3,566  |   |   | 2,609  |   |   | 4,040   |   |

|                        |                       |        |        |                       |        |
|------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars) | September 262010 |   |   | September 272009 |   |
|                   |                  |   |   |
| Company's share of:    |                  |   |   |
| Stockholders' equity   | 23,798                |   |   | 24,132                |   |
| Undistributed earnings | 23,548                |   |   | 23,882                |   |

|   |                                          |
|---|------------------------------------------|
| 5 | MARKETABLE SECURITIES AVAILABLE-FOR-SALE |

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|   |                                      |
|---|--------------------------------------|
| 6 | GOODWILL AND OTHER INTANGIBLE ASSETS |

|                               |            |        |        |           |        |
|-------------------------------|------------|--------|--------|-----------|--------|
| (Thousands of Dollars)        | 2010       |   |   | 2009      |   |
|                          |       |   |   |
| Goodwill, gross amount        | 1,536,000  |   |   | 1,536,000 |   |
| Accumulated impairment losses | (1,102,448 | )      |   | (908,977  | )      |
| Goodwill, beginning of year   | 433,552    |   |   | 627,023   |   |
| Impairment                    | —    |   |   | (193,471  | )      |
| Goodwill, end of year         | 433,552    |   |   | 433,552   |   |

|                                         |                       |        |        |                       |        |
|-----------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                  | September 262010 |   |   | September 272009 |   |
|                                    |                  |   |   |
| Nonamortized intangible assets:         |                  |   |   |
| Mastheads                               | 44,754                |   |   | 44,754                |   |
| Amortizable intangible assets:          |                  |   |   |
| Customer and newspaper subscriber lists | 885,713               |   |   | 885,713               |   |
| Less accumulated amortization           | 372,337               |   |   | 327,133               |   |
|                                    | 513,376               |   |   | 558,580               |   |
| Noncompete and consulting agreements    | 28,658                |   |   | 28,658                |   |
| Less accumulated amortization           | 28,648                |   |   | 28,644                |   |
|                                    | 10                    |   |   | 14                    |   |
|                                    | 558,140               |   |   | 603,348               |   |

|                                |         |        |        |         |        |        |           |        |
|--------------------------------|---------|--------|--------|---------|--------|--------|-----------|--------|
| (Thousands of Dollars)         | 2010    |   |   | 2009    |   |   | 2008      |   |
|                           |    |   |   |    |   |
| Goodwill                       | — |   |   | 193,471 |   |   | 908,977   |   |
| Nonamortized intangible assets | — |   |   | 14,055  |   |   | 13,027    |   |
| Amortizable intangible assets  | — |   |   | 33,848  |   |   | 143,785   |   |
| Property and equipment         | 3,290   |   |   | 4,579   |   |   | 5,019     |   |
|                           | 3,290   |   |   | 245,953 |   |   | 1,070,808 |   |
| Reduction in investment in TNI | — |   |   | 19,951  |   |   | 104,478   |   |
|                           | 3,290   |   |   | 265,904 |   |   | 1,175,286 |   |

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|   |      |
|---|------|
| 7 | DEBT |

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|                                  |                       |        |                    |                       |        |        |                       |
|----------------------------------|-----------------------|--------|--------------------|-----------------------|--------|--------|-----------------------|
|                             | Balance               |   | Interest Rate |
| (Thousands of Dollars)           | September 262010 |   |               | September 272009 |   |   | September 262010 |
|                             |                  |   |               |                  |   |
| Credit Agreement:                |                  |   |               |                  |   |
| A Term Loan                      | 635,665               |   |               | 714,885               |   |   | 4.125                 |
| Revolving credit facility        | 285,425               |   |               | 275,450               |   |   | 4.125                 |
| Pulitzer Notes:                  |                  |   |               |                  |   |
| Principal amount                 | 160,500               |   |               | 178,000               |   |   | 9.55                  |
| Unaccreted fair value adjustment | 837                   |   |               | 1,458                 |   |   |                  |
|                             | 1,082,427             |   |               | 1,169,793             |   |   |                  |
| Less current maturities          | 81,500                |   |               | 89,800                |   |   |                  |
|                             | 1,000,927             |   |               | 1,079,993             |   |   |                  |

|   |                                   |
|---|-----------------------------------|
| 8 | INTEREST RATE EXCHANGE AGREEMENTS |

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Table of Contents

|                                                  |        |                             |                             |           |        |                 |        |
|--------------------------------------------------|--------|-----------------------------|-----------------------------|-----------|--------|-----------------|--------|
| (Thousands of Dollars)                           |   |                        |                        |      |   |
| Notional Amount                             |   | Start Date                  | Maturity Date               | Rate(s)   |   | Fair Value |   |
|                                             |   |                        |                        |      |   |
| VARIABLE TO FIXED RATE SWAPS |   |                        |                        |      |
|                                             |   |                        |                        |      |   |
| 50,000                                           |   | November 30, 2005 | November 30, 2009      | 4.315     |   | (514            | )      |
| 50,000                                           |   | November 30, 2005      | November 30, 2009      | 4.325     |   | (501            | )      |
| 25,000                                           |   | November 30, 2005      | November 30, 2010      | 4.395     |   | (1,177          | )      |
| 125,000                                          |   |                        |                        |      |   | (2,192          | )      |
|                                             |   |                        |                        |      |   |
| COLLARS                                          |   |                        |                        |      |   |
|                                             |   |                        |                        |      |   |
| 75,000                                           |   | November 30, 2007      | November 30, 2009 | 3.53-5.00 |   | (618            | )      |
| 75,000                                           |   | November 30, 2007      | November 30, 2009      | 3.61-5.00 |   | (635            | )      |
| 150,000                                          |   |                        |                        |      |   | (1,253          | )      |

|   |               |
|---|---------------|
| 9 | PENSION PLANS |

|                                                  |        |        |        |         |        |        |         |        |
|--------------------------------------------------|--------|--------|--------|---------|--------|--------|---------|--------|
| (Thousands of Dollars)                           | 2010   |   |   | 2009    |   |   | 2008    |   |
|                                             |   |   |   |    |   |
| Service cost for benefits earned during the year | 792    |   |   | 1,076   |   |   | 1,501   |   |
| Interest cost on projected benefit obligation    | 8,888  |   |   | 9,550   |   |   | 9,333   |   |
| Expected return on plan assets                   | (9,568 | )      |   | (11,669 | )      |   | (13,743 | )      |
| Amortization of net gain                         | 453    |   |   | (1,181  | )      |   | (1,697  | )      |
| Amortization of prior service cost               | (136   | )      |   | (137    | )      |   | (132    | )      |
| Curtailment gains                                | (2,004 | )      |   | — |   |   | — |   |
| Net periodic pension cost (benefit)              | (1,575 | )      |   | (2,361  | )      |   | (4,738  | )      |

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|                                                                  |         |        |        |         |        |
|------------------------------------------------------------------|---------|--------|--------|---------|--------|
| (Thousands of Dollars)                                           | 2010    |   |   | 2009    |   |
|                                                             |    |   |   |
| Benefit obligation, beginning of year                            | 167,880 |   |   | 147,424 |   |
| Service cost                                                     | 792     |   |   | 1,076   |   |
| Interest cost                                                    | 8,888   |   |   | 9,550   |   |
| Actuarial loss                                                   | 13,615  |   |   | 21,676  |   |
| Benefits paid                                                    | (10,992 | )      |   | (14,504 | )      |
| Adjustment for FASB ASC Topic 715                                | — |   |   | 2,658   |   |
| Curtailment gain                                                 | (2,004  | )      |   | — |   |
| Benefit obligation, end of year                                  | 178,179 |   |   | 167,880 |   |
| Fair value of plan assets, beginning of year:                    | 124,177 |   |   | 151,801 |   |
| Actual return on plan assets                                     | 14,067  |   |   | (13,692 | )      |
| Benefits paid                                                    | (10,992 | )      |   | (14,504 | )      |
| Administrative expenses paid                                     | (1,788  | )      |   | (2,345  | )      |
| Adjustment for FASB ASC Topic 715                                | — |   |   | 2,917   |   |
| Fair value of plan assets, end of year                           | 125,464 |   |   | 124,177 |   |
| Funded status - benefit obligation in excess of plan assets | 52,715  |   |   | 43,703  |   |

|                                                            |                       |        |        |                       |        |
|------------------------------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                                     | September 262010 |   |   | September 272009 |   |
|                                                       |                  |   |   |
| Pension obligations                                        | 52,715                |   |   | 43,703                |   |
| Accumulated other comprehensive loss (before income taxes) | (29,209               | )      |   | (18,621               | )      |

|                                    |                       |        |        |                       |        |
|------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)             | September 262010 |   |   | September 272009 |   |
|                               |                  |   |   |
| Unrecognized net actuarial loss    | (30,409               | )      |   | (19,958               | )      |
| Unrecognized prior service benefit | 1,200                 |   |   | 1,337                 |   |
|                               | (29,209               | )      |   | (18,621               | )      |

|                               |                       |        |                       |
|-------------------------------|-----------------------|--------|-----------------------|
| (Percent)                     | September 262010 |   | September 272009 |
|                          |                  |   |                  |
| Discount rate                 | 4.8                   |   | 5.5                   |
| Rate of compensation increase | 3.5                   |   | 3.5                   |

----

Table of Contents

|                                          |        |        |        |
|------------------------------------------|--------|--------|--------|
| (Percent)                                | 2010   | 2009   | 2008   |
|                                     |   |   |   |
| Discount rate                            | 5.5    | 6.75   | 5.75   |
| Expected long-term return on plan assets | 8.0    | 8.0    | 8.0    |
| Rate of compensation increase            | 3.5    | 3.5    | 4.0    |

|                           |                        |                        |                       |        |
|---------------------------|------------------------|------------------------|-----------------------|--------|
| (Percent)                 |                   | Actual Allocation |
| Asset Class               | Policy Allocation | September 262010  | September 272009 |   |
|                      |                   |                   |                  |
| Equity securities         | 65 to 70     | 70                     | 71                    |   |
| Debt securities           | 30 to 35               | 25                     | 29                    |   |
| Cash and cash equivalents |                   | 5                      | —               |   |

|                                 |                                              |        |                                                              |        |                                                        |        |
|---------------------------------|----------------------------------------------|--------|--------------------------------------------------------------|--------|--------------------------------------------------------|--------|
| (Thousands of Dollars)          | Quoted Prices in Active Markets    (Level 1) |   | Significant Other Observable Inputs                (Level 2) |   | Significant Unobservable Inputs              (Level 3) |   |
|                            |                                         |   |                                                         |
| Cash and cash equivalents       | 6,929                                        |   | —                                                      |   | —                                                |   |
| Domestic equity securities      | 22,674                                       |   | 45,798                                                       |   | —                                                |   |
| International equity securities | —                                      |   | 18,829                                                       |   | —                                                |   |
| Debt securities                 | —                                      |   | 31,234                                                       |   | —                                                |   |

----

Table of Contents

|                        |        |        |
|------------------------|--------|--------|
| (Thousands of Dollars) |   |
|                   |   |
| 2011                   | 11,277 |   |
| 2012                   | 11,047 |   |
| 2013                   | 11,089 |   |
| 2014                   | 11,133 |   |
| 2015                   | 11,130 |   |
| 2016-2020              | 56,235 |   |

|    |                                            |
|----|--------------------------------------------|
| 10 | POSTRETIREMENT AND POSTEMPLOYMENT BENEFITS |

----

Table of Contents

|                                                    |         |        |        |         |        |        |         |        |
|----------------------------------------------------|---------|--------|--------|---------|--------|--------|---------|--------|
| (Thousands of Dollars)                             | 2010    |   |   | 2009    |   |   | 2008    |   |
|                                               |    |   |   |    |   |
| Service cost for benefits earned during the year   | 361     |   |   | 770     |   |   | 2,100   |   |
| Interest cost on projected benefit obligation      | 2,971   |   |   | 5,022   |   |   | 6,610   |   |
| Expected return on plan assets                     | (2,274  | )      |   | (2,409  | )      |   | (2,194  | )      |
| Amortization of net actuarial gain                 | (2,447  | )      |   | (2,760  | )      |   | (633    | )      |
| Amortization of prior service benefit              | (1,994  | )      |   | (2,197  | )      |   | (233    | )      |
| Curtailment gains                                  | (43,008 | )      |   | — |   |   | — |   |
| Net periodic postretirement benefit cost (benefit) | (46,391 | )      |   | (1,574  | )      |   | 5,650   |   |

|                                                                       |         |        |        |         |        |
|-----------------------------------------------------------------------|---------|--------|--------|---------|--------|
| (Thousands of Dollars)                                                | 2010    |   |   | 2009    |   |
|                                                                  |    |   |   |
| Benefit obligation, beginning of year                                 | 80,947  |   |   | 103,145 |   |
| Service cost                                                          | 361     |   |   | 770     |   |
| Interest cost                                                         | 2,971   |   |   | 5,022   |   |
| Actuarial gain                                                        | 2,352   |   |   | (2,788  | )      |
| Benefits paid, net of premiums received                               | (3,330  | )      |   | (7,078  | )      |
| Changes in plan provisions                                            | (5,065  | )      |   | (20,673 | )      |
| Curtailment                                                           | (30,260 | )      |   | — |   |
| Medicare Part D subsidies                                             | 340     |   |   | 517     |   |
| Reclassifications                                                     | 2,166   |   |   | — |   |
| Adjustment for FASB ASC Topic 715                                     | — |   |   | 2,032   |   |
| Benefit obligation, end of year                                       | 50,482  |   |   | 80,947  |   |
| Fair value of plan assets, beginning of year                          | 41,053  |   |   | 44,786  |   |
| Actual return on plan assets                                          | 1,212   |   |   | 719     |   |
| Employer contributions                                                | 2,172   |   |   | 1,507   |   |
| Benefits paid, net of premiums and Medicare Part D subsidies received | (2,990  | )      |   | (6,560  | )      |
| Adjustment for FASB ASC Topic 715                                     | — |   |   | 601     |   |
| Fair value of plan assets at measurement date                         | 41,447  |   |   | 41,053  |   |
| Funded status - benefit obligation in excess of plan assets           | 9,035   |   |   | 39,894  |   |

|                                                                    |                       |        |        |                       |        |
|--------------------------------------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                                             | September 262010 |   |   | September 272009 |   |
|                                                               |                  |   |   |
| Current portion of benefit obligation                              | 2,360                 |   |   | 2,640                 |   |
| Postretirement benefit obligations                                 | 6,675                 |   |   | 37,254                |   |
| Accumulated other comprehensive income (before income tax benefit) | 42,415                |   |   | 57,954                |   |

|                                    |                       |        |        |                       |        |
|------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)             | September 262010 |   |   | September 272009 |   |
|                               |                  |   |   |
| Unrecognized net actuarial gain    | 31,055                |   |   | 36,917                |   |
| Unrecognized prior service benefit | 11,360                |   |   | 21,037                |   |
|                               | 42,415                |   |   | 57,954                |   |

----

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|                                          |                       |        |                       |
|------------------------------------------|-----------------------|--------|-----------------------|
| (Percent)                                | September 262010 |   | September 272009 |
|                                     |                  |   |                  |
| Discount rate                            | 4.8                   |   | 5.5                   |
| Expected long-term return on plan assets | 5.75                  |   | 5.75                  |

|                                          |                        |        |        |        |        |
|------------------------------------------|------------------------|--------|--------|--------|--------|
| (Percent)                                | 2010    |   | 2009   |   | 2008   |
|                                     |                   |   |   |   |   |
| Discount rate                            | 5.5                    |   | 6.75   |   | 5.75   |
| Expected long-term return on plan assets | 5.75                   |   | 5.75   |   | 5.0    |

|                                                                                                   |                       |        |                       |
|---------------------------------------------------------------------------------------------------|-----------------------|--------|-----------------------|
| (Percent)                                                                                         | September 262010 |   | September 272009 |
|                                                                                              |                  |   |                  |
| Health care cost trend rates                                                                      | 11.0                  |   | 9.0                   |
| Rates to which the cost trend rate is assumed to decline (the “Ultimate Trend Rates”) | 4.0                   |   | 5.0                   |
| Year in which the rate reaches the Ultimate Trend Rates                                           | 2017                  |   | 2013                  |

|                                                    |                      |        |        |          |        |
|----------------------------------------------------|----------------------|--------|--------|----------|--------|
|                                               | One Percentage Point |
| (Thousands of Dollars)                             | Increase             |   |   | Decrease |   |
|                                               |                 |   |   |
| Effect on net periodic postretirement benefit cost | 212                  |   |   | (185     | )      |
| Effect on postretirement benefit obligation        | 4,215                |   |   | (3,680   | )      |

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|                   |                        |                        |                       |
|-------------------|------------------------|------------------------|-----------------------|
| (Percent)         |                   | Actual Allocation |
| Asset Class       | Policy Allocation | September 262010  | September 272009 |
|              |                   |                   |                  |
| Equity securities | 0-10                   | 11                     | 3                     |
| Debt securities   | 90-100                 | 89                     | 97                    |

|                                 |                                           |        |                                                              |        |                                           |        |
|---------------------------------|-------------------------------------------|--------|--------------------------------------------------------------|--------|-------------------------------------------|--------|
| (Thousands of Dollars)          | Quoted Prices in Active Markets (Level 1) |   | Significant Other Observable Inputs                (Level 2) |   | Significant Unobservable Inputs (Level 3) |   |
|                            |                                      |   |                                                         |
| Cash and cash equivalents       | 2                                         |   | —                                                      |   | —                                   |   |
| Domestic equity securities      | 1,275                                     |   | 1,685                                                        |   | —                                   |   |
| International equity securities | —                                   |   | 1,597                                                        |   | —                                   |   |
| Debt securities                 | 36,888                                    |   | —                                                      |   | —                                   |   |

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Table of Contents

|                        |               |        |        |                           |        |        |             |        |
|------------------------|---------------|--------|--------|---------------------------|--------|--------|-------------|--------|
| (Thousands of Dollars) | GrossPayments |   |   | LessMedicarePart DSubsidy |   |   | NetPayments |   |
|                   |          |   |   |                      |   |
| 2011                   | 4,110         |   |   | (250                      | )      |   | 3,860       |   |
| 2012                   | 4,570         |   |   | (260                      | )      |   | 4,310       |   |
| 2013                   | 4,470         |   |   | (280                      | )      |   | 4,190       |   |
| 2014                   | 4,490         |   |   | (300                      | )      |   | 4,190       |   |
| 2015                   | 4,460         |   |   | (310                      | )      |   | 4,150       |   |
| 2016-2020              | 21,070        |   |   | (1,680                    | )      |   | 19,390      |   |

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|    |                        |
|----|------------------------|
| 11 | OTHER RETIREMENT PLANS |

|    |                                                                         |
|----|-------------------------------------------------------------------------|
| 12 | COMMON STOCK, CLASS B COMMON STOCK, AND PREFERRED SHARE PURCHASE RIGHTS |

|    |                       |
|----|-----------------------|
| 13 | STOCK OWNERSHIP PLANS |

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Table of Contents

|                                 |         |        |        |        |        |        |         |        |
|---------------------------------|---------|--------|--------|--------|--------|--------|---------|--------|
| (Thousands of Shares)           | 2010    |   |   | 2009   |   |   | 2008    |   |
|                            |    |   |   |   |   |
| Under option, beginning of year | 1,009   |   |   | 263    |   |   | 1,195   |   |
| Granted                         | — |   |   | 783    |   |   | — |   |
| Canceled                        | (69     | )      |   | (37    | )      |   | (932    | )      |
| Under option, end of year       | 940     |   |   | 1,009  |   |   | 263     |   |
|                            |    |   |   |   |   |
| Exercisable, end of year        | 423     |   |   | 191    |   |   | 171     |   |

|                           |         |        |        |        |        |        |         |        |
|---------------------------|---------|--------|--------|--------|--------|--------|---------|--------|
| (Dollars)                 | 2010    |   |   | 2009   |   |   | 2008    |   |
|                      |    |   |   |   |   |
| Granted                   | — |   |   | 2.07   |   |   | — |   |
| Under option, end of year | 8.77    |   |   | 9.40   |   |   | 34.69   |   |

|                                |        |        |        |        |
|--------------------------------|--------|--------|--------|--------|
|                           |   |   | 2009   |   |
|                           |   |   |   |
| Volatility (percent)           |   |   | 105    |   |
| Risk-free interest rate        |   |   | 2.45   |   |
| Expected life (years)          |   |   | 4.7    |   |
| Estimated fair value (dollars) |   |   | 1.57   |   |

|                                     |                     |        |                                                             |        |                                    |        |        |                   |        |        |                                    |        |
|-------------------------------------|---------------------|--------|-------------------------------------------------------------|--------|------------------------------------|--------|--------|-------------------|--------|--------|------------------------------------|--------|
| (Dollars)                           | Options Outstanding |   | Options Exercisable                                         |
| Range ofExercisePrices         | NumberOutstanding   |   | Weighted AverageRemaining ContractualLife (Years) |   | WeightedAverageExercise Price |   |   | NumberExercisable |   |   | WeightedAverageExercise Price |   |
|                                |                |   |                                                        |   |                               |   |   |              |
|   1 to 25  | 745,900             |   | 8.8                                                         |   | 2.07                               |   |   | 228,600           |   |   | 2.07                               |   |
| 25 to 30                            | 86,570              |   | 5.7                                                         |   | 28.62                              |   |   | 86,570            |   |   | 28.62                              |   |
| 30 to 35                  | 25,966              |   | 2.1                                                         |   | 32.51                              |   |   | 25,966            |   |   | 32.51                              |   |
| 35 to 40                  | 45,685              |   | 3.8                                                         |   | 38.28                              |   |   | 45,685            |   |   | 38.28                              |   |
| 40 to 45                  | 18,108              |   | 3.0                                                         |   | 43.27                              |   |   | 18,108            |   |   | 43.27                              |   |
| 45 to 50                  | 17,842              |   | 4.1                                                         |   | 47.63                              |   |   | 17,842            |   |   | 47.63                              |   |
|                                | 940,071             |   | 7.9                                                         |   | 8.77                               |   |   | 422,771           |   |   | 16.98                              |   |

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|                                |         |        |        |         |        |        |      |        |
|--------------------------------|---------|--------|--------|---------|--------|--------|------|--------|
| (Thousands of Shares)          | 2010    |   |   | 2009    |   |   | 2008 |   |
|                           |    |   |   |    |   |
| Outstanding, beginning of year | 453     |   |   | 746     |   |   | 416  |   |
| Granted                        | — |   |   | — |   |   | 482  |   |
| Vested                         | (143    | )      |   | (114    | )      |   | (112 | )      |
| Forfeited                      | (11     | )      |   | (179    | )      |   | (40  | )      |
| Outstanding, end of year       | 299     |   |   | 453     |   |   | 746  |   |

|                                |         |        |        |         |        |        |       |        |
|--------------------------------|---------|--------|--------|---------|--------|--------|-------|--------|
| (Dollars)                      | 2010    |   |   | 2009    |   |   | 2008  |   |
|                           |    |   |   |    |   |
| Outstanding, beginning of year | 19.35   |   |   | 21.60   |   |   | 36.60 |   |
| Granted                        | — |   |   | — |   |   | 15.02 |   |
| Vested                         | 28.73   |   |   | 39.53   |   |   | 46.66 |   |
| Forfeited                      | 15.02   |   |   | 15.94   |   |   | 27.95 |   |
| Outstanding, end of year       | 15.02   |   |   | 19.35   |   |   | 21.60 |   |

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|    |              |
|----|--------------|
| 14 | INCOME TAXES |

|                         |         |        |        |         |        |        |          |        |
|-------------------------|---------|--------|--------|---------|--------|--------|----------|--------|
| (Thousands of Dollars)  | 2010    |   |   | 2009    |   |   | 2008     |   |
|                    |    |   |   |    |   |
| Current:                |    |   |   |    |   |
| Federal                 | 8,673   |   |   | (3,573  | )      |   | 24,442   |   |
| State                   | 833     |   |   | 643     |   |   | 3,383    |   |
| Deferred                | 19,116  |   |   | (79,582 | )      |   | (264,829 | )      |
|                    | 28,622  |   |   | (82,512 | )      |   | (237,004 | )      |
|                    |    |   |   |    |   |
| Continuing operations   | 28,622  |   |   | (82,509 | )      |   | (242,633 | )      |
| Discontinued operations | — |   |   | (3      | )      |   | 5,629    |   |
|                    | 28,622  |   |   | (82,512 | )      |   | (237,004 | )      |

|                                                                    |         |        |        |         |        |        |         |        |
|--------------------------------------------------------------------|---------|--------|--------|---------|--------|--------|---------|--------|
| (Percent)                                                          | 2010    |   |   | 2009    |   |   | 2008    |   |
|                                                               |    |   |   |    |   |
| Computed “expected” income tax expense (benefit)       | 35.0    |   |   | (35.0   | )      |   | (35.0   | )      |
| State income taxes (benefit), net of federal tax expense (benefit) | 4.3     |   |   | (3.7    | )      |   | (3.0    | )      |
| Net income of associated companies taxed at dividend rates         | (1.4    | )      |   | (0.3    | )      |   | (0.1    | )      |
| Domestic production deduction                                      | (0.8    | )      |   | — |   |   | (0.1    | )      |
| Resolution of tax matters                                          | (3.5    | )      |   | — |   |   | (0.3    | )      |
| Impairment of goodwill and other assets                            | — |   |   | 12.2    |   |   | 14.9    |   |
| Valuation allowance                                                | (0.1    | )      |   | (6.1    | )      |   | 2.3     |   |
| Tax law change                                                     | 4.2     |   |   | — |   |   | — |   |
| Other                                                              | 0.6     |   |   | 1.5     |   |   | (0.5    | )      |
|                                                               | 38.3    |   |   | (31.4   | )      |   | (21.8   | )      |

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|                                                                              |                  |        |        |                  |        |
|------------------------------------------------------------------------------|------------------|--------|--------|------------------|--------|
| (Thousands of Dollars)                                                       | September 262010 |   |   | September 272009 |   |
|                                                                         |             |   |   |
| Deferred income tax liabilities:                                             |             |   |   |
| Property and equipment                                                       | (29,659          | )      |   | (32,975          | )      |
| Investments                                                                  | (26,443          | )      |   | (18,185          | )      |
| Identified intangible assets                                                 | (62,731          | )      |   | (59,036          | )      |
|     Long-term debt and interest rate exchange agreements | (1,450           | )      |   | (1,398           | )      |
|                                                                         | (120,283         | )      |   | (111,594         | )      |
| Deferred income tax assets:                                                  |             |   |   |
| Accrued compensation                                                         | 6,462            |   |   | 7,458            |   |
| Allowance for doubtful accounts and losses on loans                          | 1,745            |   |   | 1,682            |   |
| Pension and postretirement benefits                                          | 5,384            |   |   | 3,950            |   |
| State operating loss carryforwards                                           | 20,897           |   |   | 18,205           |   |
| Accrued expenses                                                             | 5,767            |   |   | 6,747            |   |
| Other                                                                        | 3,124            |   |   | 3,893            |   |
|                                                                         | 43,379           |   |   | 41,935           |   |
| Valuation allowance                                                          | (23,025          | )      |   | (20,469          | )      |
| Net deferred income tax liabilities                                          | (99,929          | )      |   | (90,128          | )      |

|                                     |                       |        |        |                       |        |
|-------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)              | September 262010 |   |   | September 272009 |   |
|                                |                  |   |   |
| Current assets                      | 2,687                 |   |   | 3,638                 |   |
| Non-current liabilities             | (102,616              | )      |   | (93,766               | )      |
| Net deferred income tax liabilities | (99,929               | )      |   | (90,128               | )      |

|                                                 |        |        |
|-------------------------------------------------|--------|--------|
| (Thousands of Dollars)                          | 2010   |   |
|                                            |   |
| Balance, beginning of year                      | 10,186 |   |
| Decreases in tax positions for prior years      | (860   | )      |
| Increases in tax positions for the current year | 355    |   |
| Lapse in statute of limitations                 | (503   | )      |
| Settled items                                   | (9     | )      |
| Balance, end of year                            | 9,169  |   |

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|    |                                     |
|----|-------------------------------------|
| 15 | FAIR VALUE OF FINANCIAL INSTRUMENTS |

|                                        |              |        |        |              |        |        |              |        |        |       |        |
|----------------------------------------|--------------|--------|--------|--------------|--------|--------|--------------|--------|--------|-------|--------|
| (Thousands of Dollars)                 | Level 1 |   |   | Level 2 |   |   | Level 3 |   |   | Total |   |
|                                   |         |   |   |         |   |   |         |
| Herald Value - liability (see Note 19) | —      |   |   | —      |   |   | 2,300        |   |   | 2,300 |   |

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|    |                                  |
|----|----------------------------------|
| 16 | EARNINGS (LOSS) PER COMMON SHARE |

|                                                             |         |        |        |          |        |        |          |        |
|-------------------------------------------------------------|---------|--------|--------|----------|--------|--------|----------|--------|
| (Thousands of Dollars, Except Per Common Share Data)        | 2010    |   |   | 2009     |   |   | 2008     |   |
|                                                        |    |   |   |     |   |
| Income (loss) attibutable to Lee Enterprises, Incorporated: |    |   |   |     |   |
| Continuing operations                                       | 46,105  |   |   | (123,186 | )      |   | (880,601 | )      |
| Discontinued operations                                     | — |   |   | (5       | )      |   | 285      |   |
|                                                        | 46,105  |   |   | (123,191 | )      |   | (880,316 | )      |
|                                                        |    |   |   |     |   |
| Weighted average Common Shares                              | 44,902  |   |   | 44,952   |   |   | 45,478   |   |
| Less non-vested restricted Common Stock                     | (347    | )      |   | (510     | )      |   | (665     | )      |
| Basic average Common Shares                                 | 44,555  |   |   | 44,442   |   |   | 44,813   |   |
| Dilutive stock options and restricted Common Stock          | 400     |   |   | —  |   |   | —  |   |
| Diluted average Common Shares                               | 44,955  |   |   | 44,442   |   |   | 44,813   |   |
|                                                        |    |   |   |     |   |
| Earnings (loss) per common share:                           |    |   |   |     |   |
| Basic:                                                      |    |   |   |     |   |
| Continuing operations                                       | 1.03    |   |   | (2.77    | )      |   | (19.65   | )      |
| Discontinued operations                                     | — |   |   | —  |   |   | 0.01     |   |
|                                                        | 1.03    |   |   | (2.77    | )      |   | (19.64   | )      |
|                                                        |    |   |   |     |   |
| Diluted:                                                    |    |   |   |     |   |
| Continuing operations                                       | 1.03    |   |   | (2.77    | )      |   | (19.65   | )      |
| Discontinued operations                                     | — |   |   | —  |   |   | 0.01     |   |
|                                                        | 1.03    |   |   | (2.77    | )      |   | (19.64   | )      |

|    |                                       |
|----|---------------------------------------|
| 17 |  ALLOWANCE FOR DOUBTFUL ACCOUNTS |

|                              |        |        |        |        |        |        |        |        |
|------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
| (Thousands of Dollars)       | 2010   |   |   | 2009   |   |   | 2008   |   |
|                         |   |   |   |   |   |
| Balance, beginning of year   | 6,275  |   |   | 6,647  |   |   | 10,266 |   |
| Additions charged to expense | 3,043  |   |   | 5,995  |   |   | 5,977  |   |
| Deductions from reserves     | (3,555 | )      |   | (6,367 | )      |   | (9,596 | )      |
| Balance, end of year         | 5,763  |   |   | 6,275  |   |   | 6,647  |   |

|    |                         |
|----|-------------------------|
| 18 |  OTHER INFORMATION |

|                                     |                       |        |        |                       |        |
|-------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)              | September 262010 |   |   | September 272009 |   |
|                                |                  |   |   |
| Compensation                        | 12,113                |   |   | 12,858                |   |
| Retirement and stock purchase plans | 7,632                 |   |   | 10,533                |   |
| Interest                            | 4,703                 |   |   | 5,644                 |   |
| Other                               | 13,669                |   |   | 13,720                |   |
|                                | 38,117                |   |   | 42,755                |   |

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|                              |        |        |        |        |        |        |         |        |
|------------------------------|--------|--------|--------|--------|--------|--------|---------|--------|
| (Thousands of Dollars)       | 2010   |   |   | 2009   |   |   | 2008    |   |
|                         |   |   |   |   |   |
| Interest                     | 65,791 |   |   | 80,690 |   |   | 80,960  |   |
| Debt financing costs         | 453    |   |   | 26,061 |   |   | — |   |
| Income taxes, net of refunds | 3,753  |   |   | 5,829  |   |   | 26,173  |   |

|                                                      |                       |        |        |                       |        |
|------------------------------------------------------|-----------------------|--------|--------|-----------------------|--------|
| (Thousands of Dollars)                               | September 262010 |   |   | September 272009 |   |
|                                                 |                  |   |   |
| Pension and postretirement benefits                  | 6,651                 |   |   | 22,800                |   |
| Unrealized loss on interest rate exchange agreements | —               |   |   | (1,446                | )      |
|                                                 | 6,651                 |   |   | 21,354                |   |

|    |                                        |
|----|----------------------------------------|
| 19 | COMMITMENTS AND CONTINGENT LIABILITIES |

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|    |                                                |
|----|------------------------------------------------|
| 20 | IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS |

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|    |                                      |
|----|--------------------------------------|
| 21 | QUARTERLY FINANCIAL DATA (UNAUDITED) |

|                                                             |               |        |        |          |        |        |         |        |        |           |        |
|-------------------------------------------------------------|---------------|--------|--------|----------|--------|--------|---------|--------|--------|-----------|--------|
|                                                        | Quarter Ended |
| (Thousands of Dollars, Except Per Common Share Data)        | December      |   |   | March    |   |   | June    |   |   | September |   |
|                                                        |          |   |   |     |   |   |    |
| 2010                                                        |          |   |   |     |   |   |    |
|                                                        |          |   |   |     |   |   |    |
| Operating revenue                                           | 209,838       |   |   | 185,744  |   |   | 196,405 |   |   | 188,660   |   |
|                                                        |          |   |   |     |   |   |    |
| Income (loss) from continuing operations                    | 27,959        |   |   | 2,982    |   |   | 10,039  |   |   | 5,199     |   |
| Discontinued operations                                     | —       |   |   | —  |   |   | — |   |   | —   |   |
| Net income (loss)                                           | 27,959        |   |   | 2,982    |   |   | 10,039  |   |   | 5,199     |   |
|                                                        |          |   |   |     |   |   |    |
| Income (loss) attributable to Lee Enterprises, Incorporated | 27,907        |   |   | 2,991    |   |   | 10,019  |   |   | 5,189     |   |
|                                                        |          |   |   |     |   |   |    |
| Earnings per common share:                                  |          |   |   |     |   |   |    |
| Basic:                                                      |          |   |   |     |   |   |    |
| Income from continuing operations                           | 0.63          |   |   | 0.07     |   |   | 0.22    |   |   | 0.12      |   |
| Discontinued operations                                     | —       |   |   | —  |   |   | — |   |   | —   |   |
|                                                        | 0.63          |   |   | 0.07     |   |   | 0.22    |   |   | 0.12      |   |
|                                                        |          |   |   |     |   |   |    |
| Diluted:                                                    |          |   |   |     |   |   |    |
| Income from continuing operations                           | 0.62          |   |   | 0.07     |   |   | 0.22    |   |   | 0.11      |   |
| Discontinued operations                                     | —       |   |   | —  |   |   | — |   |   | —   |   |
|                                                        | 0.62          |   |   | 0.07     |   |   | 0.22    |   |   | 0.11      |   |
|                                                        |          |   |   |     |   |   |    |
| 2009                                                        |          |   |   |     |   |   |    |
|                                                        |          |   |   |     |   |   |    |
| Operating revenue                                           | 243,555       |   |   | 198,844  |   |   | 203,805 |   |   | 195,826   |   |
|                                                        |          |   |   |     |   |   |    |
| Income (loss) from continuing operations                    | (47,463       | )      |   | (109,889 | )      |   | (24,492 | )      |   | 1,782     |   |
| Discontinued operations                                     | (5            | )      |   | —  |   |   | — |   |   | —   |   |
| Net income (loss)                                           | (47,468       | )      |   | (109,889 | )      |   | (24,492 | )      |   | 1,782     |   |
|                                                        |          |   |   |     |   |   |    |
| Income (loss) attributable to Lee Enterprises, Incorporated | (48,677       | )      |   | (51,757  | )      |   | (24,512 | )      |   | 1,755     |   |
|                                                        |          |   |   |     |   |   |    |
| Earnings (loss) per common share:                           |          |   |   |     |   |   |    |
| Basic:                                                      |          |   |   |     |   |   |    |
| Income from continuing operations                           | (1.10         | )      |   | (1.16    | )      |   | (0.55   | )      |   | 0.04      |   |
| Discontinued operations                                     | —       |   |   | —  |   |   | — |   |   | —   |   |
|                                                        | (1.10         | )      |   | (1.16    | )      |   | (0.55   | )      |   | 0.04      |   |
|                                                        |          |   |   |     |   |   |    |
| Diluted:                                                    |          |   |   |     |   |   |    |
| Income from continuing operations                           | (1.10         | )      |   | (1.16    | )      |   | (0.55   | )      |   | 0.04      |   |
| Discontinued operations                                     | —       |   |   | —  |   |   | — |   |   | —   |   |
|                                                        | (1.10         | )      |   | (1.16    | )      |   | (0.55   | )      |   | 0.04      |   |

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