Exhibit 10.10



 Exhibit 10.10 
 EXECUTION VERSION 
 PLEDGE AGREEMENT 

PLEDGE AGREEMENT, dated as of January 30, 2012 (as amended, modified, restated and/or supplemented from time to time, this
“Agreement”), made by each of the undersigned pledgors (each, a “Pledgor” and, together with any other entity that becomes a pledgor hereunder pursuant to Section 30 hereof, the “Pledgors”) in
favor of Wilmington Trust, National Association, as Collateral Agent (together with any successor Collateral Agent, the “Pledgee”), for the benefit of the Secured Creditors (as defined below). Except as otherwise defined herein, all
capitalized terms used herein and defined in the Loan Agreement (as defined below) shall be used herein as therein defined. 

W I T N E S S E T H : 

WHEREAS, Lee Enterprises, Incorporated (the “Borrower”), the lenders from time to time party thereto (the
“Lenders”), Deutsche Bank Securities Inc. and Goldman Sachs Lending Partners LLC, as Joint Lead Arrangers and Joint Book Running Managers, and Wilmington Trust, National Association, as administrative agent (together with any
successor administrative agent, the “Administrative Agent”) for the Lenders, have entered into a Second Lien Loan Agreement, dated as of the date hereof (as amended, modified, restated and/or supplemented from time to time, the
“Loan Agreement”), providing for the making and continuation of Loans to the Borrower, all as contemplated therein (the Lenders, the Administrative Agent and the Pledgee are herein called the “Secured Creditors”);

 WHEREAS, pursuant to the Subsidiaries Guaranty, each Subsidiary Guarantor has jointly and severally guaranteed to the Secured
Creditors the payment when due of all Guaranteed Obligations as described therein; 
 WHEREAS, it is a condition precedent to
the making (or deemed making) and continuation of Loans to the Borrower under the Loan Agreement that each Pledgor shall have executed and delivered to the Pledgee this Agreement; 

WHEREAS, each Pledgor desires to execute this Agreement to satisfy the conditions described in the preceding paragraph; and 

WHEREAS, each Pledgor will obtain benefits from the incurrence (or deemed incurrence) and continuation of Loans by the Borrower under the
Loan Agreement and, accordingly, desires to execute this Agreement in order to satisfy the condition described in the preceding paragraph and to induce the Lenders to make (or be deemed to have made) and continue Loans to the Borrower. 

NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each Pledgor, the receipt and sufficiency of which are
hereby acknowledged, each Pledgor hereby makes the following representations and warranties to the Pledgee for the benefit of the Secured Creditors and hereby covenants and agrees with the Pledgee for the benefit of the Secured Creditors as follows:


  
 [Second Lien
Pledge Agreement] 








 1. SECURITY FOR OBLIGATIONS. This Agreement is made by each Pledgor for the benefit of the
Secured Creditors to secure: 
 (i) the full, prompt and complete payment when due (whether at stated maturity,
by acceleration or otherwise) of all obligations, liabilities and indebtedness (including, without limitation, principal, premium, interest (including, without limitation, all interest that accrues on or after the commencement of any case,
proceeding or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding of any Pledgor or any Subsidiary thereof at the rate provided for in the respective documentation, whether or not a claim for post-petition
interest is allowed in any such proceeding), fees, costs and indemnities) of such Pledgor owing to the Secured Creditors, whether now existing or hereafter incurred under, arising out of, or in connection with, each Credit Document to which such
Pledgor is a party (including, in the case of each Pledgor that is a Subsidiary Guarantor, all such obligations, liabilities and indebtedness of such Pledgor under the Subsidiaries Guaranties) and the due performance and compliance by such Pledgor
with all of the terms, conditions and agreements contained in each such Credit Document; 
 (ii) any and all sums
advanced by the Pledgee in order to preserve the Collateral (as hereinafter defined) or preserve its security interest in the Collateral; 
 (iii) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of such Pledgor referred to in clause (i) above, after an Event of Default shall
have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on the Collateral, or of any exercise by the Pledgee of its rights hereunder, together with
reasonable attorneys’ fees and court costs; 
 (iv) all amounts paid by any Indemnitee as to which such
Indemnitee has the right to reimbursement under Section 11 of this Agreement; 
 (v) all amounts owing to
any Agent or any of its affiliates pursuant to any of the Credit Documents in its capacity as such; and 
 (vi)
any and all other debts, liabilities and reimbursement obligations, indemnity obligations and other obligations for monetary amounts, fees, expenses, costs or other sums (including reasonable attorneys’ fees and costs) chargeable to any Credit
Party under or pursuant to any of the Credit Documents. 
 all such obligations, liabilities, indebtedness, sums and expenses set forth in
clauses (i) through (vi) of this Section 1 being herein collectively called the “Obligations”, it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the types
described above, whether outstanding on the date of this Agreement or extended from time to time after the date of this Agreement. 
 2. DEFINITIONS; INTERPRETATION. (a) Unless otherwise defined herein, all capitalized terms used herein and defined in the Loan Agreement shall be used herein as therein defined. Reference to singular
terms shall include the plural and vice versa. 

  
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Pledge Agreement] 








 (b) The following capitalized terms used herein shall have the definitions specified below:

 “Administrative Agent” shall have the meaning set forth in the recitals hereto. 

“Adverse Claim” shall have the meaning given such term in Section 8-102(a)(1) of the UCC. 

“Agreement” shall have the meaning set forth in the first paragraph hereof. 

“Borrower” shall have the meaning set forth in the recitals hereto. 

“Certificated Security” shall have the meaning given such term in Section 8-102(a)(4) of the UCC. 

“Clearing Corporation” shall have the meaning given such term in Section 8-102(a)(5) of the UCC. 

“Collateral” shall have the meaning set forth in Section 3.1 hereof. 

“Domestic Corporation” shall have the meaning set forth in the definition of “Stock.” 

“Event of Default” shall mean any Event of Default under, and as defined in, the Loan Agreement and shall in any event
include, without limitation, any payment default on any of the Obligations after the expiration of any applicable grace period. 

“Exempted Foreign Entity” shall mean any Foreign Corporation and any limited liability company organized under the laws
of a jurisdiction other than the United States or any State thereof or the District of Columbia that, in any such case, is treated as a corporation or an association taxable as a corporation for U.S. federal income tax purposes. 

“First Priority Representative” shall have the meaning given such term in the Lee Intercreditor Agreement or the
Pulitzer Intercreditor Agreement, as applicable. 
 “Foreign Corporation” shall have the meaning set forth in
the definition of “Stock”. 
 “Indemnitees” shall have the meaning set forth in Section 11
hereof. 
 “Investment Property” shall have the meaning given such term in Section 9-102(a)(49) of the
UCC. 
 “Lenders” shall have the meaning set forth in the recitals hereto. 

“Limited Liability Company Assets” shall mean all assets, whether tangible or intangible and whether real, personal or
mixed (including, without limitation, all limited liability company capital and interest in other limited liability companies), at any time owned by any Pledgor or represented by any Limited Liability Company Interest. 

  
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Pledge Agreement] 








 “Limited Liability Company Interests” shall mean the entire limited
liability company membership interest at any time owned by any Pledgor in any limited liability company that is a Subsidiary of such Pledgor. 
 “Loan Agreement” shall have the meaning set forth in the recitals hereto. 
 “Location” of any Pledgor has the meaning given such term in Section 9-307 of the UCC. 
 “Non-Voting Equity Interests” shall mean all Equity Interests of any Person which are not Voting Equity Interests. 

“Obligations” shall have the meaning set forth in Section 1 hereof. 

“Partnership Assets” shall mean all assets, whether tangible or intangible and whether real, personal or mixed
(including, without limitation, all partnership capital and interest in other partnerships), at any time owned by any Pledgor or represented by any Partnership Interest. 
 “Partnership Interest” shall mean the entire general partnership interest or limited partnership interest at any time owned by any Pledgor in any general partnership or limited
partnership that is a Subsidiary of such Pledgor. 
 “Pledgee” shall have the meaning set forth in the first
paragraph hereof. 
 “Pledgor” shall have the meaning set forth in the first paragraph hereof. 

“Proceeds” shall have the meaning given such term in Section 9-102(a)(64) of the UCC. 

“Pulitzer Pledgor” shall mean any Pledgor that is a Pulitzer Entity. 

“Registered Organization” shall have the meaning given such term in Section 9-102(a)(70) of the UCC. 

“Required Secured Creditors” shall mean the Required Lenders (or such other Lenders (or number or percentage thereof) as
shall be necessary under Section 13.12(a) of the Loan Agreement). 
 “Secured Creditors” shall have the
meaning set forth in the recitals hereto. 
 “Securities Account” shall have the meaning given such term in
Section 8-501(a) of the UCC. 
 “Secured Debt Agreements” shall mean and includes (x) this Agreement
and (y) the other Credit Documents. 
 “Securities Act” shall mean the Securities Act of 1933, as amended,
as in effect from time to time. 

  
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Pledge Agreement] 








 “Securities Intermediary” shall have the meaning given such term in
Section 8-102(14) of the UCC. 
 “Security” and “Securities” shall have the meaning given
such term in Section 8-102(a)(15) of the UCC and shall in any event also include all Stock. 
 “Security
Entitlement” shall have the meaning given such term in Section 8-102(a)(17) of the UCC. 

“Stock” shall mean (x) with respect to corporations incorporated under the laws of the United States or any State
thereof or the District of Columbia (each, a “Domestic Corporation”), all of the issued and outstanding shares of capital stock at anytime owned by any Pledgor of any Domestic Corporation that is a Subsidiary of such Pledgor and
(y) with respect to corporations not Domestic Corporations (each, a “Foreign Corporation”), all of the issued and outstanding shares of capital stock at any time owned by any Pledgor of any Foreign Corporation that is a
Subsidiary of such Pledgor. 
 “Termination Date” shall have the meaning set forth in Section 20 hereof.

 “Transmitting Utility” has the meaning given such term in Section 9-102(a)(80) of the UCC. 

“UCC” shall mean the Uniform Commercial Code as in effect in the State of New York from time to time;
provided that all references herein to specific Sections or subsections of the UCC are references to such Sections or subsections, as the case may be, of the Uniform Commercial Code as in effect in the State of New York on the date hereof.

 “Uncertificated Security” shall have the meaning given such term in Section 8-102(a)(18) of the UCC.

 “Voting Equity Interests” of any Person shall mean all classes of Equity Interests of such Person entitled
to vote. 
 3. PLEDGE OF SECURITIES, ETC. 
 3.1 Pledge. To secure the Obligations now or hereafter owed or to be performed by such Pledgor, each Pledgor does hereby grant, pledge and assign to the Pledgee for the benefit of the Secured
Creditors, and does hereby create a continuing security interest in favor of the Pledgee for the benefit of the Secured Creditors in, all of its right, title and interest in and to the following, whether now existing or hereafter from time to time
acquired (collectively, the “Collateral”): 
 (a) all Stock owned or held by such Pledgor from time to time and
all options and warrants owned by such Pledgor from time to time to purchase Stock; 
 (b) all Limited Liability Company
Interests owned by such Pledgor from time to time and all of its right, title and interest in each limited liability company to which each such Limited Liability Company Interest relates, whether now existing or hereafter acquired,


  
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Pledge Agreement] 








 
including, without limitation, to the fullest extent permitted under the terms and provisions of the documents and agreements governing such Limited Liability Company Interests and applicable
law: 
 (A) all its capital therein and its interest in all profits, income, surpluses, losses, Limited Liability
Company Assets and other distributions to which such Pledgor shall at any time be entitled in respect of such Limited Liability Company Interests; 
 (B) all other payments due or to become due to such Pledgor in respect of Limited Liability Company Interests, whether under any limited liability company agreement or otherwise, whether as contractual
obligations, damages, insurance proceeds or otherwise; 
 (C) all of its claims, rights, powers, privileges,
authority, options, security interests, liens and remedies, if any, under any limited liability company agreement or operating agreement, or at law or otherwise in respect of such Limited Liability Company Interests; 

(D) all present and future claims, if any, of such Pledgor against any such limited liability company for monies loaned or
advanced, for services rendered or otherwise; 
 (E) all of such Pledgor’s rights under any limited
liability company agreement or operating agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Limited Liability Company Interests, including any power to terminate,
cancel or modify any such limited liability company agreement or operating agreement, to execute any instruments and to take any and all other action on behalf of and in the name of any of such Pledgor in respect of such Limited Liability Company
Interests and any such limited liability company, to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together
with full power and authority to demand, receive, enforce, collect or receipt for any of the foregoing or for any Limited Liability Company Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any
action in connection with any of the foregoing; and 
 (F) all other property hereafter delivered in substitution
for or in addition to any of the foregoing, all certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all thereof; 
 (c) all Partnership Interests owned
by such Pledgor from time to time and all of its right, title and interest in each partnership to which each such Partnership Interest relates, whether now existing or hereafter acquired, including, without limitation, to the fullest extent


  
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Pledge Agreement] 








 
permitted under the terms and provisions of the documents and agreements governing such Partnership Interests and applicable law: 

(A) all its capital therein and its interest in all profits, income, surpluses, losses, Partnership Assets and other
distributions to which such Pledgor shall at any time be entitled in respect of such Partnership Interests; 

(B) all other payments due or to become due to such Pledgor in respect of Partnership Interests, whether under any
partnership agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; 
 (C) all of its claims, rights, powers, privileges, authority, options, security interests, liens and remedies, if any, under any partnership agreement or operating agreement, or at law or otherwise in
respect of such Partnership Interests; 
 (D) all present and future claims, if any, of such Pledgor against any
such partnership for monies loaned or advanced, for services rendered or otherwise; 
 (E) all of such
Pledgor’s rights under any partnership agreement or operating agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Partnership Interests, including any power to
terminate, cancel or modify any partnership agreement or operating agreement, to execute any instruments and to take any and all other action on behalf of and in the name of such Pledgor in respect of such Partnership Interests and any such
partnership, to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together with full power and authority to demand,
receive, enforce, collect or receipt for any of the foregoing or for any Partnership Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action in connection with any of the foregoing; and

 (F) all other property hereafter delivered in substitution for or in addition to any of the foregoing, all
certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in
exchange for any or all thereof; 
 (d) all other Investment Property that constitutes Equity Interests of a Person that is a
Subsidiary of a Pledgor; and 
 (e) all Proceeds, rents, issues, profits, returns, income, allocations and of and from any and
all of the foregoing; 
 provided that (x) except in the circumstances and to the extent provided by Section 9.15 of the Loan
Agreement (in which case this clause (x) shall no longer be applicable), no Pledgor shall be 

  
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Pledge Agreement] 








 
required at any time to pledge hereunder more than
66- 2/3% of the total combined voting power of all
classes of Voting Equity Interests of any Exempted Foreign Entity, (y) each Pledgor shall be required to pledge hereunder 100% of the Non-Voting Equity Interests of each Exempted Foreign Entity at any time and from time to time acquired by such
Pledgor, which Non-Voting Equity Interests shall not be subject to the limitations described in preceding clause (x) and (z) no Pledgor shall be required at any time to pledge hereunder any equity interests in any Excluded TNI Assets.

 Notwithstanding anything in this Agreement to the contrary, it is the understanding of the parties that the Liens pledged pursuant to
this Section 3.1 shall, (x) with respect to any such Liens granted in any Collateral comprising Common Collateral (as defined in the Lee Intercreditor Agreement), prior to the First Priority Obligations Payment Date (as defined in the Lee
Intercreditor Agreement), be subject and subordinate to the First Priority Lien (as defined in the Lee Intercreditor Agreement) on such Collateral pursuant to the terms of the Lee Intercreditor Agreement and (y) with respect to any such Liens
granted in any Collateral comprising Common Collateral (as defined in the Pulitzer Intercreditor Agreement), prior to the First Priority Obligations Payment Date (as defined in the Pulitzer Intercreditor Agreement), be subject and subordinate to the
First Priority Lien (as defined in the Pulitzer Intercreditor Agreement) on such Collateral pursuant to the terms of the Pulitzer Intercreditor Agreement. 
 3.2 Procedures. (a) To the extent that any Pledgor at any time or from time to time owns, acquires or obtains any right, title or interest in any Collateral, such Collateral shall
automatically (and without the taking of any action by such Pledgor) be pledged pursuant to Section 3.1 of this Agreement and, in addition thereto, such Pledgor shall (to the extent provided below) take the following actions as set forth below
(as promptly as practicable and, in any event, within 10 days after it obtains such Collateral) for the benefit of the Pledgee and the other Secured Creditors (subject to the provisions of Section 3.6 below): 

(i) with respect to a Certificated Security (other than a Certificated Security credited on the books of a Clearing
Corporation or Securities Intermediary), such Pledgor shall physically deliver such Certificated Security to the Pledgee. endorsed to the Pledgee or endorsed in blank; 

(ii) with respect to an Uncertificated Security (other than an Uncertificated Security credited on the books of a Clearing
Corporation or Securities Intermediary), such Pledgor shall cause the issuer of such Uncertificated Security to duly authorize, execute, and deliver to the Pledgee an agreement for the benefit of the Pledgee, and the other Secured Creditors
substantially in the form of Annex G hereto (appropriately completed to the satisfaction of the Pledgee and with such modifications, if any, as shall be satisfactory to the Pledgee) pursuant to which such issuer agrees to comply with any and all
instructions originated by the Pledgee without further consent by the registered owner and not to comply with instructions regarding such Uncertificated Security (and any Partnership Interests and Limited Liability Company Interests issued by such
issuer) originated by any other Person other than a court of competent jurisdiction; 
 (iii) with respect to a
Certificated Security, Uncertificated Security, Partnership Interest or Limited Liability Company Interest credited on the books of a Clearing 

  
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Pledge Agreement] 








 
Corporation or Securities Intermediary (including a Federal Reserve Bank, Participants Trust Company or The Depository Trust Company), such Pledgor shall promptly notify the Pledgee thereof and
shall promptly take (x) all actions required (i) to comply with the applicable rules of such Clearing Corporation or Securities Intermediary and (ii) to perfect the security interest of the Pledgee under applicable law (including, in
any event, under Sections 9-314(a), (b) and (c), 9-106 and 8-106(d) of the UCC) and (y) such other actions as the Pledgee deems necessary or desirable to effect the foregoing; 

(iv) with respect to a Partnership Interest or a Limited Liability Company Interest (other than a Partnership Interest or
Limited Liability Company Interest credited on the books of a Clearing Corporation or Securities Intermediary), (1) if such Partnership Interest or Limited Liability Company Interest is represented by a certificate and is a Security for
purposes of the UCC, such Pledgor shall follow the procedure set forth in Section 3.2(a)(i) hereof, and (2) if such Partnership Interest or Limited Liability Company Interest is not represented by a certificate or is not a Security for
purposes of the UCC, such Pledgor shall follow the procedure set forth in Section 3.2(a)(ii) hereof; and 

(v) with respect to cash proceeds from any of the Collateral, (i) establishment by the Pledgee of a cash account in
the name of such Pledgor over which the Pledgee, shall have “control” within the meaning of the UCC and at any time any Default or Event of Default is in existence no withdrawals or transfers may be made therefrom by any Person except with
the prior written consent of the Pledgee and (ii) deposit of such cash in such cash account. 
 (b) In addition to the
actions required to be taken pursuant to Section 3.2(a) hereof, each Pledgor shall take the following additional actions with respect to the Collateral: 
 (i) with respect to all Collateral of such Pledgor whereby or with respect to which the Pledgee may obtain “control” thereof within the meaning of Section 8-106 of the UCC (or under any
provision of the UCC as same may be amended or supplemented from time to time, or under the laws of any relevant State other than the State of New York), such Pledgor shall take all actions as may be requested from time to time by the Pledgee
so that “control” of such Collateral is obtained and at all times held by the Pledgee; and 
 (ii) each
Pledgor shall from time to time cause appropriate financing statements (on appropriate forms) under the UCC as in effect in the various relevant States, covering all Collateral hereunder (with the form of such financing statements to be satisfactory
to the Pledgee), to be filed in the relevant filing offices so that at all times the Pledgee’s security interest in all Investment Property and other Collateral which can be perfected by the filing of such financing statements (in each case to
the maximum extent perfection by filing may be obtained under the laws of the relevant States, including, without limitation, Section 9-312(a) of the UCC) is so perfected. 

3.3 Subsequently Acquired Collateral. If any Pledgor shall acquire (by purchase, stock dividend, distribution or otherwise)
any additional Collateral at any time or from time to 

  
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Pledge Agreement] 








 
time after the date hereof, (i) such Collateral shall automatically (and without any further action being required to be taken) be subject to the pledge and security interests created
pursuant to Section 3.1 hereof and, furthermore, such Pledgor will thereafter take (or cause to be taken) all action (as promptly as practicable and, in any event, within 10 days after it obtains such Collateral) with respect to such Collateral
in accordance with the procedures set forth in Section 3.2 hereof, and will promptly thereafter deliver to the Pledgee (i) a certificate executed by an authorized officer of such Pledgor describing such Collateral and certifying that the
same has been duly pledged in favor of the Pledgee (for the benefit of the Secured Creditors) hereunder and (ii) supplements to Annexes A through F hereto as are necessary to cause such Annexes to be complete and accurate at such time. Without
limiting the foregoing, each Pledgor shall be required to pledge hereunder the Equity Interests of any Exempted Foreign Entity at any time and from time to time after the date hereof acquired by such Pledgor, provided that (x) except in
the circumstances and to the extent provided by Section 9.15 of the Loan Agreement (in which case this clause (x) shall no longer be applicable), no Pledgor shall be required at any time to pledge hereunder more than 66- 2/3% of the total combined voting power of all classes of Voting Equity
Interests of any Exempted Foreign Entity and (y) each Pledgor shall be required to pledge hereunder 100% of the Non-Voting Equity Interests of each Exempted Foreign Entity at any time and from time to time acquired by such Pledgor.

 3.4 Transfer Taxes. Each pledge of Collateral under Section 3.1 or Section 3.3 hereof shall be
accompanied by any transfer tax stamps required in connection with the pledge of such Collateral. 
 3.5 Certain
Representations and Warranties Regarding the Collateral. Each Pledgor represents and warrants that on the date hereof: (i) each Subsidiary of such Pledgor, and the direct ownership thereof, is listed in Annex B hereto; (ii) the Stock
(and any warrants or options to purchase Stock) held by such Pledgor consists of the number and type of shares of the stock (or warrants or options to purchase any stock) of the corporations as described in Annex C hereto; (iii) such Stock
referenced in clause (ii) of this sentence constitutes that percentage of the issued and outstanding capital stock of the issuing corporation as is set forth in Annex C hereto; (iv) the Limited Liability Company Interests held by such
Pledgor consist of the number and type of interests of the Persons described in Annex D hereto; (v) each such Limited Liability Company Interest referenced in clause (iv) of this paragraph constitutes that percentage of the issued and
outstanding equity interest of the issuing Person as set forth in Annex D hereto; (vi) the Partnership Interests held by such Pledgor consist of the number and type of interests of the Persons described in Annex E hereto; (vii) each such
Partnership Interest referenced in clause (vi) of this paragraph constitutes that percentage or portion of the entire Partnership Interest of the relevant partnership as set forth in Annex E hereto; (viii) the exact address of the chief
executive office of such Pledgor is listed on Annex F hereto; (ix) such Pledgor has complied with the respective procedure set forth in Section 3.2(a) hereof with respect to each item of Collateral described in Annexes C through E hereto
for such Pledgor; and (x) on the date hereof, such Pledgor owns no other Stock, Limited Liability Company Interests or Partnership Interests. Each Pulitzer Pledgor represents and warrants that on the date hereof all information with respect to
the Collateral of such Pulitzer Pledgor set forth in any schedule, certificate or other writing at any time furnished by such Pledgor to the Pledgee or any Secured Creditor, and all other written information at any time furnished by such Pledgor to
the Pledgee or any Secured Creditor, is and shall be true and correct in all material respects as of the date furnished. 

  
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Pledge Agreement] 








 3.6 Bailee for Perfection. Notwithstanding anything herein to the contrary, subject
to the terms of the Lee Intercreditor Agreement or the Pulitzer Intercreditor Agreement, as applicable, and until (but not after) the First Priority Obligations Payment Date (as defined in the Lee Intercreditor Agreement or the Pulitzer
Intercreditor Agreement, as applicable), (i) the requirements of this Agreement to endorse, assign or deliver Collateral to the Pledgee or to provide the Pledgee “control” (within the meaning of the UCC) over the Collateral shall be
deemed satisfied by endorsement, assignment or delivery of such Collateral to the applicable First Priority Representative or by exercise of control over such Collateral by such First Priority Representative, in each case as bailee and agent for the
Pledgee pursuant to Section 2.3(c) of the Lee Intercreditor Agreement or the Pulitzer Intercreditor Agreement, as applicable, and (ii) any endorsement, assignment or delivery of Collateral to the First Priority Representative as bailee and
agent for the Pledgee pursuant to Section 2.3(c) of the Lee Intercreditor Agreement or the Pulitzer Intercreditor Agreement, as applicable, shall be deemed an endorsement, assignment or delivery to, or control by, the Pledgee for all purposes
hereunder. 
 3.7 Consent to Pledge and Waiver of Certain Partnership and Operating Agreement Provisions. Each Pulitzer
Pledgor irrevocably (i) consents to (a) the pledge of all limited liability company interests of each Pulitzer Entity that is a limited liability company and all partnership interests of each Pulitzer Entity that is a partnership or
limited partnership which are being pledged hereunder by such Pulitzer Pledgor and each of the other Pulitzer Pledgors that is a member or partner of such Pulitzer Entity and the pledge of all rights in respect thereof (including all economic,
voting and membership rights) and (b) the Collateral Agent and/or any of its transferees becoming full voting members of any limited liability company or partner in any partnership or limited partnership in which such Pulitzer Pledgor has an
interest upon any foreclosure or exercise of remedies by the Collateral Agent in respect of such pledged interests and rights without any further action or consent by such Pulitzer Pledgor and the Collateral Agent or such transferee shall succeed to
all of such Pulitzer Pledgor’s rights and interests under the relevant certificate of incorporation, by-laws, certificate of partnership, partnership agreement, certificate of formation or limited liability company agreement (or equivalent
organizational documents), as the case may be, of such limited liability company, partnership or limited partnership, and (ii) waives any and all provisions of the partnership agreements and operating agreements of each Pulitzer Entity (as
applicable) that (a) prohibit, restrict, condition or otherwise affect the grant hereunder of any Lien on any of the Collateral applicable to the Pulitzer Entities or any enforcement action which may be taken in respect of any such Lien or the
transfer of the Collateral applicable to the Pulitzer Entities by the Collateral Agent or any of its transferees, (b) would operate to limit or restrict the ability of the Collateral Agent or any of its transferees from becoming a full voting
member of the partnership or limited liability company, as the case may be, or (c) otherwise conflict with the terms of this Agreement. 
 4. APPOINTMENT OF SUB-AGENTS; ENDORSEMENTS, ETC. The Pledgee shall have the right to appoint one or more sub-agents for the purpose of retaining physical possession of the Collateral, which may be held
(in the discretion of the Pledgee) in the name of the relevant Pledgor, endorsed or assigned in blank or in favor of the Pledgee or any nominee or nominees of the Pledgee or a sub-agent appointed by the Pledgee. 

5. VOTING, ETC., WHILE NO EVENT OF DEFAULT. Unless and until there shall have occurred and be continuing an Event of Default and the
Pledgee shall instruct the 

  
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Pledge Agreement] 








 
Pledgors otherwise (in writing), each Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral owned by it, and to give consents, waivers
or ratifications in respect thereof; provided that, in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would violate, result in a breach of any covenant contained
in, or be inconsistent with any of the terms of any Secured Debt Agreement, or which could reasonably be expected to have the effect of impairing the value of the Collateral or any part thereof or the position or interests of the Pledgee or any
other Secured Creditor in the Collateral, unless expressly permitted by the terms of the Secured Debt Agreements. All such rights of each Pledgor to vote and to give consents, waivers and ratifications shall cease in case an Event of Default has
occurred and is continuing and the Pledgee has notified the Pledgors (in writing) that such rights have ceased, and Section 7 hereof shall become applicable. 
 6. DIVIDENDS AND OTHER DISTRIBUTIONS. Unless and until there shall have occurred and be continuing an Event of Default, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable
in respect of the Collateral shall be paid to the respective Pledgor. The Pledgee, in each case subject to the applicable Intercreditor Agreement, shall be entitled to receive directly, and to retain as part of the Collateral: 

(i) all other or additional stock, notes, certificates, limited liability company interests, partnership interests,
instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above) paid or distributed by way of dividend or otherwise in respect of the Collateral; 

(ii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests,
instruments or other securities or property (including, but not limited to, cash (although such cash may be paid directly to the respective Pledgor so long as no Event of Default then exists)) paid or distributed in respect of the Collateral by way
of stock-split, spin-off, split-up, reclassification, combination of shares or similar rearrangement; and 

(iii) all other or additional stock, notes, certificates, limited liability company interests, partnership interests,
instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of assets, liquidation or similar corporate or
other reorganization. 
 Nothing contained in this Section 6 shall limit or restrict in any way the Pledgee’s right to receive the
proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this Section 6 or Section 7 hereof
shall be received in trust for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith paid over to the Pledgee as Collateral in the same form as so received (with any necessary
endorsement). 
 7. REMEDIES IN CASE OF AN EVENT OF DEFAULT. If there shall have occurred and be continuing an Event of Default,
then and in every such case, the Pledgee shall be 

  
 [Second Lien
Pledge Agreement] 








 
entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any Intercreditor Agreement, any other Secured Debt Agreement, Section 11 of the Loan
Agreement or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the UCC as in effect in any relevant jurisdiction
and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable: 
 (i) to receive all amounts payable in respect of the Collateral otherwise payable under Section 6 hereof to the respective Pledgor; 

(ii) to transfer all or any part of the Collateral into the Pledgee’s name or the name of its nominee or nominees;

 (iii) to vote (and exercise all rights and powers in respect of voting) all or any part of the Collateral
(whether or not transferred into the name of the Pledgee) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof (each Pledgor hereby
irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of such Pledgor, with full power of substitution to do so); 
 (iv) at any time and from time to time to sell, assign and deliver, or grant options to purchase, all or any part of the Collateral, or any interest therein, at any public or private sale, without demand
of performance, advertisement or, notice of intention to sell or of the time or place of sale or adjournment thereof or to redeem or otherwise purchase or dispose (all of which are hereby waived by each Pledgor), for cash, on credit or for other
property, for immediate or future delivery without any assumption of credit risk, and for such price or prices and on such terms as the Pledgee in its absolute discretion may determine, provided at least 10 days’ written notice of the
time and place of any such sale shall be given to the respective Pledgor. The Pledgee shall not be obligated to make any such sale of Collateral regardless of whether any such notice of sale has theretofore been given. Each Pledgor hereby waives and
releases to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, and all rights, if any, of marshalling the Collateral and any other security or the Obligations
or otherwise. At any such sale, unless prohibited by applicable law, the Pledgee on behalf of the Secured Creditors may bid for and purchase all or any part of the Collateral so sold free from any such right or equity of redemption. Neither the
Pledgee nor any other Secured Creditor shall be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing nor shall any of them be under any obligation to take any action whatsoever with regard thereto;
and 
 (v) to set off any and all Collateral against any and all Obligations, and to withdraw any and all cash or
other Collateral from any and all accounts described in Section 3.2(a)(v) hereof and to apply such cash and other Collateral to the payment of any and all Obligations. 

  
 [Second Lien
Pledge Agreement] 








 8. REMEDIES, CUMULATIVE, ETC. Each and every right, power and remedy of the Pledgee provided
for in this Agreement, each Intercreditor Agreement or in any other Secured Debt Agreement, or now or hereafter existing at law or in equity or by statute shall be cumulative and concurrent and shall be in addition to every other such right, power
or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Creditor of any one or more of the rights, powers or remedies provided for in this Agreement or any other Secured Debt Agreement or now or hereafter existing at
law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Creditor of all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any
other Secured Creditor to exercise any such right, power or remedy shall operate as a waiver thereof. No notice to or demand on any Pledgor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or
constitute a waiver of any of the rights of the Pledgee or any other Secured Creditor to any other or further action in any circumstances without notice or demand. The Secured Creditors agree that, other than as provided in the applicable
Intercreditor Agreement, this Agreement may be enforced only by the action of the Pledgee, in each case, acting upon the instructions of the Required Secured Creditors, and that no other Secured Creditor shall have any right individually to seek to
enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by the Pledgee for the benefit of the Secured Creditors upon the terms of this
Agreement. 
 9. APPLICATION OF PROCEEDS. (a) Subject to the terms of the applicable Intercreditor Agreement with respect
to Common Collateral (as defined in the applicable Intercreditor Agreement), all monies collected by the Pledgee pursuant to the terms of this Agreement upon any sale or other disposition of Collateral, together with all other monies received by the
Pledgee hereunder, shall be applied as provided in Section 13.17 of the Loan Agreement. 
 (b) All payments required to be
made under Section 13.17 of the Loan Agreement shall be made to the Administrative Agent for the account of the Secured Creditors. 
 (c) It is understood and agreed that each Pledgor shall remain jointly and severally liable with respect to its Obligations to the extent of any deficiency between the amount of the proceeds of the
Collateral pledged by it hereunder and the aggregate amount of such Obligations. 
 10. PURCHASERS OF COLLATERAL. Upon any sale
of the Collateral by the Pledgee hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Pledgee or the officer making such sale shall be a sufficient discharge to the
purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Pledgee or such officer or be answerable in any way for the
misapplication or nonapplication thereof. 
 11. INDEMNITY. Each Pledgor jointly and severally agrees (i) to indemnify,
reimburse and hold harmless the Pledgee and each other Secured Creditor and their respective successors, assigns, employees, agents and affiliates (individually an “Indemnitee”, and


  
 [Second Lien
Pledge Agreement] 








 
collectively, the “Indemnitees”) from and against any and all obligations, damages, injuries, penalties, claims, demands, losses, judgments and liabilities (including, without
limitation, liabilities for penalties) of whatsoever kind or nature, and (ii) to reimburse each Indemnitee for all reasonable costs, expenses and disbursements, including reasonable attorneys’ fees and expenses, in each case arising out of
or resulting from this Agreement or the exercise by any Indemnitee of any right or remedy granted to it hereunder or under any other Secured Debt Agreement (but excluding any obligations, damages, injuries, penalties, claims, demands, losses,
judgments and liabilities (including, without limitation, liabilities for penalties) or expenses of whatsoever kind or nature to the extent incurred or arising by reason of gross negligence or willful misconduct of such Indemnitee (as determined by
a court of competent jurisdiction in a final and non-appealable decision)). In no event shall the Pledgee hereunder be liable, in the absence of gross negligence or willful misconduct on its part (as determined by a court of competent jurisdiction
in a final and non-appealable decision), for any matter or thing in connection with this Agreement other than to account for monies or other property actually received by it in accordance with the terms hereof. If and to the extent that the
obligations of any Pledgor under this Section 11 are unenforceable for any reason, such Pledgor hereby agrees to make the maximum contribution to the payment and satisfaction of such obligations which is permissible under applicable law. The
indemnity obligations of each Pledgor contained in this Section 11 shall continue in full force and effect notwithstanding the full payment of all the Notes issued under the Loan Agreement, and the payment of all other Obligations and
notwithstanding the discharge thereof. 
 12. PLEDGEE NOT A PARTNER OR LIMITED LIABILITY COMPANY MEMBER. (a) Nothing herein
shall be construed to make the Pledgee or any other Secured Creditor liable as a member of any limited liability company or as a partner of any partnership and neither the Pledgee nor any other Secured Creditor by virtue of this Agreement or
otherwise (except as referred to in the following sentence) shall have any of the duties, obligations or liabilities of a member of any limited liability company or as a partner in any partnership. The parties hereto expressly agree that, unless the
Pledgee shall become the absolute owner of Collateral consisting of a Limited Liability Company Interest or a Partnership Interest pursuant hereto, this Agreement shall not be construed as creating a partnership or joint venture among the Pledgee,
any other Secured Creditor, any Pledgor and/or any other Person. 
 (b) Except as provided in the last sentence of paragraph
(a) of this Section 12, the Pledgee, by accepting this Agreement, did not intend to become a member of any limited liability company or a partner of any partnership or otherwise be deemed to be a co-venturer with respect to any Pledgor,
any limited liability company, partnership and/or any other Person either before or after an Event of Default shall have occurred. The Pledgee shall have only those powers set forth herein and the Secured Creditors shall assume none of the duties,
obligations or liabilities of a member of any limited liability company or as a partner of any partnership or any Pledgor except as provided in the last sentence of paragraph (a) of this Section 12. 

(c) The Pledgee and the other Secured Creditors shall not be obligated to perform or discharge any obligation of any Pledgor as a result
of the pledge hereby effected. 
 (d) The acceptance by the Pledgee of this Agreement, with all the rights, powers, privileges
and authority so created, shall not at any time or in any event obligate the 

  
 [Second Lien
Pledge Agreement] 








 
Pledgee or any other Secured Creditor to appear in or defend any action or proceeding relating to the Collateral to which it is not a party, or to take any action hereunder or thereunder, or to
expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Collateral. 
 13.
FURTHER ASSURANCES; POWER-OF-ATTORNEY. (a) Each Pledgor agrees that it will join with the Pledgee in executing and, at such Pledgor’s own expense, file and refile under the UCC or other applicable law such financing statements,
continuation statements and other documents, in form reasonably acceptable to the Pledgee, in such offices as the Pledgee (acting on its own or on the instructions of the Required Secured Creditors) may reasonably deem necessary or appropriate and
wherever required or permitted by law in order to perfect and preserve the Pledgee’s security interest in the Collateral hereunder and hereby authorizes the Pledgee to file financing statements and amendments thereto relative to all or any part
of the Collateral (including, without limitation, (x) financing statements which list the Collateral specifically and/or “all assets” as collateral and (y) “in lieu of” financing statements) without the signature of
such Pledgor where permitted by law, and agrees to do such further acts and things and to execute and deliver to the Pledgee such additional conveyances, assignments, agreements and instruments as the Pledgee may reasonably require or deem advisable
to carry into effect the purposes of this Agreement or to further assure and confirm unto the Pledgee its rights, powers and remedies hereunder or thereunder. 
 (b) Each Pledgor hereby constitutes and appoints the Pledgee, its true and lawful attorney-in-fact, irrevocably, with full authority in the place and stead of such Pledgor and in the name of such Pledgor
or otherwise, from time to time after the occurrence and during the continuance of an Event of Default, in the Pledgee’s discretion, to act, require, demand, receive and give acquittance for any and all monies and claims for monies due or to
become due to such Pledgor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file any claims or take any action or institute any proceedings and to execute any instrument
which the Pledgee may deem necessary or advisable to accomplish the purposes of this Agreement, which appointment as attorney is coupled with an interest. 
 14. THE PLEDGEE AS COLLATERAL AGENT. The Pledgee will hold in accordance with this Agreement (and subject to the Lee Intercreditor Agreement or the Pulitzer Intercreditor Agreement, as applicable) all
items of the Collateral at any time received under this Agreement. It is expressly understood, acknowledged and agreed by each Secured Creditor that by accepting the benefits of this Agreement each such Secured Creditor acknowledges and agrees that
the obligations of the Pledgee as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement, the Intercreditor Agreements and
in Section 12 of the Loan Agreement. The Pledgee shall act hereunder on the terms and conditions set forth herein and in Section 12 of the Loan Agreement. 
 15. TRANSFER BY THE PLEDGORS. Except as permitted by the Loan Agreement, no Pledgor will sell or otherwise dispose of, grant any option with respect to, or mortgage, pledge or otherwise encumber any of
the Collateral or any interest therein. 

  
 [Second Lien
Pledge Agreement] 








 16. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PLEDGORS. (a) Each Pledgor
represents, warrants and covenants as to itself and each of its Subsidiaries that: 
 (i) it is the legal,
beneficial and record owner of, and has good and marketable title to, all of its Collateral and that it has sufficient interest in all of its Collateral in which a security interest is purported to be created hereunder for such security interest to
attach (subject, in each case, to no pledge, lien, mortgage, hypothecation, security interest, charge, option, Adverse Claim or other encumbrance whatsoever, except the liens and security interests created by this Agreement and any other Permitted
Liens and Permitted Encumbrances); 
 (ii) it has full power, authority and legal right to pledge all the
Collateral pledged by it pursuant to this Agreement; 
 (iii) this Agreement has been duly authorized, executed
and delivered by such Pledgor and constitutes a legal, valid and binding obligation of such Pledgor enforceable against such Pledgor in accordance with its terms, except to the extent that the enforceability hereof may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general equitable principles (regardless of whether enforcement is sought in equity or at law); 

(iv) except to the extent already obtained or made, no consent of any other party (including, without limitation, any
stockholder, partner, member or creditor of such Pledgor or any of its Subsidiaries) and no consent, license, permit, approval or authorization of, exemption by, notice or report to, or registration, filing or declaration with, any governmental
authority is required to be obtained by such Pledgor in connection with (a) the execution, delivery or performance of this Agreement by such Pledgor, (b) the validity or enforceability of this Agreement against such Pledgor, (c) the
perfection or enforceability of the Pledgee’s security interest in such Pledgor’s Collateral or (d) except for compliance with or as may be required by applicable securities laws, the exercise by the Pledgee of any of its rights or
remedies provided herein; 
 (v) neither the execution, delivery or performance by such Pledgor of this Agreement
or any other Secured Debt Agreement to which it is a party, nor compliance by it with the terms and provisions hereof and thereof nor the consummation of the transactions contemplated therein: (i) will contravene any provision of any applicable
law, statute, rule or regulation, or any applicable order, writ, injunction or decree of any court, arbitrator or governmental instrumentality, domestic or foreign, applicable to such Pledgor; (ii) will conflict or be inconsistent with or
result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to this Agreement or any
other Security Document) upon any of the properties or assets of such Pledgor or any of its Subsidiaries pursuant to the terms of any indenture, lease, mortgage, deed of trust, credit agreement, loan agreement or any other material agreement,
contract or other instrument to which such Pledgor or any of its Subsidiaries is a party or is otherwise bound, or by which it or any of its properties or assets is bound 

  
 [Second Lien
Pledge Agreement] 








 
or to which it may be subject; or (iii) will violate any provision of the certificate of incorporation, by-laws, certificate of partnership, partnership agreement, certificate of formation
or limited liability company agreement (or equivalent organizational documents), as the case may be, of such Pledgor or any of its Subsidiaries; 
 (vi) all of such Pledgor’s Collateral has been duly and validly issued, is fully paid and non-assessable and is subject to no options to purchase or similar rights; 

(vii) the pledge, collateral assignment and delivery to the Pledgee (subject to Section 3.6 above) of such
Pledgor’s Collateral consisting of Certificated Securities pursuant to this Agreement creates a valid and perfected security interest in such Certificated Securities and the Proceeds thereof, subject to no prior Lien or encumbrance or to any
agreement purporting to grant to any third party a Lien or encumbrance on the property or assets of such Pledgor (other than Permitted Liens and Permitted Encumbrances) which would include the Securities and the Pledgee is entitled to all the
rights, priorities and benefits afforded by the UCC or other relevant law as enacted in any relevant jurisdiction to perfect security interests in respect of such Collateral, in each case subject to the provisions of the applicable Intercreditor
Agreement; and 
 (viii) subject to Section 3.6 above, “control” (as defined in Section 8-106
of the UCC) has been obtained by the Pledgee, over all of such Pledgor’s Collateral consisting of Securities with respect to which such “control” may be obtained pursuant to Section 8-106 of the UCC, except to the extent that the
obligation of the applicable Pledgor to provide the Pledgee with “control” of such Collateral has not yet arisen under this Agreement; provided that in the case of the Pledgee obtaining “control” over Collateral consisting
of a Security Entitlement, such Pledgor shall have taken all steps in its control so that the Pledgee obtains “control” over such Security Entitlement. 
 (b) Each Pledgor covenants and agrees that it will defend the Pledgee’s right, title and security interest in and to such Pledgor’s Collateral and the proceeds thereof against the claims and
demands of all persons whomsoever; and each Pledgor covenants and agrees that it will have like title to and right to pledge any other property at any time hereafter pledged to the Pledgee by such Pledgor as Collateral hereunder and will likewise
defend the right thereto and security interest therein of the Pledgee and the other Secured Creditors. 
 (c) Each Pledgor
covenants and agrees that it will take no action which would violate any of the terms of any Secured Debt Agreement. 
 17.
LEGAL NAMES; TYPE OF ORGANIZATION (AND WHETHER A REGISTERED ORGANIZATION AND/OR A TRANSMITTING UTILITY); JURISDICTION OF ORGANIZATION; LOCATION; ORGANIZATIONAL IDENTIFICATION NUMBERS; CHANGES THERETO; ETC. The exact legal name of each Pledgor, the
type of organization of such Pledgor, whether or not such Pledgor is a Registered Organization, the jurisdiction of organization of such Pledgor, such Pledgor’s Location, the organizational identification number (if any) of each Pledgor, and
whether or not such Pledgor is a Transmitting Utility, is listed on Annex A hereto for such Pledgor. No Pledgor shall change its legal name, its type of organization, its status as a Registered Organization (in the case of a Registered
Organization), 

  
 [Second Lien
Pledge Agreement] 








 
its status as a Transmitting Utility or as a Person which is not a Transmitting Utility, as the case may be, its jurisdiction of organization, its Location, or its organizational identification
number (if any), except that any such changes shall be permitted (so long as not in violation of the applicable requirements of the Secured Debt Agreements and so long as same do not involve (x) a Registered Organization ceasing to constitute
same or (y) any Pledgor changing its jurisdiction of organization or Location from the United States or a State thereof to a jurisdiction of organization or Location, as the case may be, outside the United States or a State thereof) if
(i) it shall have given to the Pledgee not less than 15 days’ (or, in the case of any Pulitzer Pledgor, 30 days’) prior written notice of each change to the information listed on Annex A (as adjusted for any subsequent changes thereto
previously made in accordance with this sentence), together with a supplement to Annex A which shall correct all information contained therein for such Pledgor, and (ii) in connection with such change or changes, it shall have taken all action
reasonably requested by the Pledgee to maintain the security interests of the Pledgee in the Collateral intended to be granted hereby at all times fully perfected and in full force and effect. In addition, to the extent that any Pledgor does not
have an organizational identification number on the date hereof and later obtains one, such Pledgor shall promptly thereafter deliver a notification of the Pledgee of such organizational identification number and shall take all actions reasonably
satisfactory to the Pledgee to the extent necessary to maintain the security interest of the Pledgee in the Collateral intended to be granted hereby fully perfected and in full force and effect. 

18. PLEDGORS’ OBLIGATIONS ABSOLUTE, ETC. The obligations of each Pledgor under this Agreement shall be absolute and unconditional and
shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstance or occurrence whatsoever (other than termination of this Agreement pursuant to
Section 20 hereof), including, without limitation: 
 (i) any renewal, extension, amendment or modification
of, or addition or supplement to or deletion from any Secured Debt Agreement (other than this Agreement in accordance with its terms), or any other instrument or agreement referred to therein, or any assignment or transfer of any thereof;

 (ii) any waiver, consent, extension, indulgence or other action or inaction under or in respect of any such
agreement or instrument including, without limitation, this Agreement (other than a waiver, consent or extension with respect to this Agreement in accordance with its terms); 

(iii) any furnishing of any additional security to the Pledgee or its assignee or any acceptance thereof or any release of
any security by the Pledgee or its assignee; 
 (iv) any limitation on any party’s liability or obligations
under any such instrument or agreement or any invalidity or unenforceability, in whole or in part, of any such instrument or agreement or any term thereof; or 
 (v) any bankruptcy, insolvency, reorganization, composition, adjustment, dissolution, liquidation or other like proceeding relating to any Pledgor or any Subsidiary of any Pledgor, or any action taken
with respect to this Agreement by any trustee or 

  
 [Second Lien
Pledge Agreement] 








 
receiver, or by any court, in any such proceeding, whether or not such Pledgor shall have notice or knowledge of any of the foregoing. 

19. SALE OF COLLATERAL WITHOUT REGISTRATION. (a) If an Event of Default shall have occurred and be continuing and any Pledgor shall
have received from the Pledgee a written request or requests that such Pledgor cause any registration, qualification or compliance under any federal or state securities law or laws to be effected with respect to all or any part of the Collateral,
such Pledgor as soon as practicable and at its expense will use its best efforts to cause such registration to be effected (and be kept effective) and will use its best efforts to cause such qualification and compliance to be effected (and be kept
effective) as may be so requested and as would permit or facilitate the sale and distribution of such Collateral, including, without limitation, registration under the Securities Act, as then in effect (or any similar statute then in effect),
appropriate qualifications under applicable blue sky or other state securities laws and appropriate compliance with any other governmental requirements; provided, that the Pledgee shall furnish to such Pledgor such information regarding the
Pledgee as such Pledgor may request in writing and as shall be required in connection with any such registration, qualification or compliance. Each Pledgor will cause the Pledgee to be kept reasonably advised in writing as to the progress of each
such registration, qualification or compliance and as to the completion thereof, will furnish to the Pledgee such number of prospectuses, offering circulars and other documents incident thereto as the Pledgee from time to time may reasonably
request, and will indemnify, to the extent permitted by law, the Pledgee and all other Secured Creditors participating in the distribution of such Collateral against all claims, losses, damages and liabilities caused by any untrue statement (or
alleged untrue statement) of a material fact contained therein (or in any related registration statement, notification or the like) or by any omission (or alleged omission) to state therein (or in any related registration statement, notification or
the like) a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same may have been caused by an untrue statement or omission based upon information furnished in writing to
such Pledgor by the Pledgee or such other Secured Creditor expressly for use therein. 
 (b) If at any time when the Pledgee
shall determine to exercise its right to sell all or any part of the Collateral pursuant to Section 7 hereof, and such Collateral or the part thereof to be sold shall not, for any reason whatsoever, be effectively registered under the
Securities Act, as then in effect, the Pledgee may, in its sole and absolute discretion and in accordance with the applicable Intercreditor Agreement, sell such Collateral or part thereof by private sale in such manner and under such circumstances
as the Pledgee may deem necessary or advisable in order that such sale may legally be effected without such registration. Without limiting the generality of the foregoing, in any such event the Pledgee, in its sole and absolute discretion
(i) may proceed to make such private sale notwithstanding that a registration statement for the purpose of registering such Collateral or part thereof shall have been filed under such Securities Act, (ii) may approach and negotiate with a
single possible purchaser to effect such sale, and (iii) may restrict such sale to a purchaser who will represent and agree that such purchaser is purchasing for its own account, for investment, and not with a view to the distribution or sale
of such Collateral or part thereof. In the event of any such sale, the Pledgee shall incur no responsibility or liability for selling all or any part of the Collateral at a price which the Pledgee, in its sole and absolute discretion and in
accordance with the applicable Intercreditor Agreement, may in good faith deem reasonable under the circumstances, 

  
 [Second Lien
Pledge Agreement] 








 
notwithstanding the possibility that a substantially higher price might be realized if the sale were deferred until the registration as aforesaid. 

20. TERMINATION; RELEASE. (a) On the Termination Date, this Agreement shall terminate (provided that all indemnities set forth
herein including, without limitation, in Section 11 hereof shall survive any such termination) and the Pledgee, at the request and expense of such Pledgor, will execute and deliver to such Pledgor a proper instrument or instruments (including
UCC termination statements) acknowledging the satisfaction and termination of this Agreement (including, without limitation, UCC termination statements and instruments of satisfaction, discharge and/or reconveyance), and will duly release from the
security interest created hereby and assign, transfer and deliver to such Pledgor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Pledgee and as has not theretofore been sold or
otherwise applied or released pursuant to this Agreement, together with any moneys at the time held by the Pledgee or any of its sub-agents hereunder and, with respect to any Collateral consisting of an Uncertificated Security, a Partnership
Interest or a Limited Liability Company Interest (other than an Uncertificated Security, Partnership Interest or Limited Liability Company Interest credited on the books of a Clearing Corporation or Securities Intermediary), a termination of the
agreement relating thereto executed and delivered by the issuer of such Uncertificated Security pursuant to Section 3.2(a)(ii) or by the respective partnership or limited liability company pursuant to Section 3.2(a)(iv)(2). As used in this
Agreement, “Termination Date” shall mean the date upon which the Loan Agreement shall have been terminated and no Note is outstanding (and all Loans have been paid in full in cash), and all other Obligations (other than indemnities
described in Section 11 hereof and described in Section 13.01 of the Loan Agreement, in each case which are not then due and payable) then due and payable have been paid in full. 

(b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person other than a Credit Party)
(I) (x) at any time prior to the Termination Date, in connection with a sale or disposition permitted by Section 10.02 of the Loan Agreement or is otherwise released at the direction of the Required Lenders (or such other Lenders (or
number or percentage thereof) as shall be necessary under Section 13.12(a) of the Loan Agreement) or (y) at any time thereafter, to the extent permitted by the other Secured Debt Agreements, and in the case of clauses (x) and (y), the
proceeds of such sale or disposition (or from such release) are applied in accordance with the terms of the Loan Agreement or such other Secured Debt Agreement, as the case may be, to the extent required to be so applied, or (II) pursuant to a
Joint-Venture Transaction in accordance with the terms of the Loan Agreement, the Pledgee, at the request and expense of such Pledgor, will duly release from the security interest created hereby, or in the case of a Joint-Venture Transaction, the
security interests created hereby shall be automatically released (and, in each case, will execute and deliver such documentation, including termination or partial release statements and the like in connection therewith) and assign, transfer and
deliver to such Pledgor (without recourse and without any representation or warranty) such of the Collateral as is then being (or has been) so sold or released and as may be in the possession of the Pledgee (or, in the case of Collateral held by any
sub-agent designated pursuant to Section 4 hereto, such sub-agent) and has not theretofore been released pursuant to this Agreement. 

  
 [Second Lien
Pledge Agreement] 








 (c) At any time that any Pledgor desires that Collateral be released as provided in the
foregoing Section 20(a) or (b), it shall deliver to the Pledgee (and the relevant sub-agent, if any, designated pursuant to Section 4 hereof) a certificate signed by an Authorized Officer of such Pledgor stating that the release of the
respective Collateral is permitted pursuant to Section 20(a) or (b) hereof. If reasonably requested by the Pledgee (although the Pledgee shall have no obligation to make any such request), the relevant Pledgor shall furnish appropriate
legal opinions (from counsel, reasonably acceptable to the Pledgee) to the effect set forth in the immediately preceding sentence. 
 (d) Upon the occurrence of the Termination Date, the Pledgors shall be automatically released from this Agreement and all security interests created hereunder shall be released automatically without
further action on the part of the Pledgee and this Agreement shall, as to each Pledgor, terminate, and have no further force or effect (provided that all indemnitees set forth herein, including, without limitation, in Section 11 hereof shall
survive any such termination). 
 (e) The Pledgee shall have no liability whatsoever to any other Secured Creditor as the result
of any release of Collateral by it in accordance with (or which the Pledgee in good faith believes to be in accordance with) this Section 20. 
 21. NOTICES, ETC. Except as otherwise specified herein, all notices, requests, demands or other communications to or upon the respective parties hereto shall be sent or delivered by mail, telegraph,
telex, telecopy, cable or courier service and all such notices and communications shall, when mailed, telegraphed, telexed, telecopied, or cabled or sent by courier, be effective when deposited in the mails, delivered to the telegraph company, cable
company or overnight courier, as the case may be, or sent by telex or telecopier, except that notices and communications to the Pledgee or any Pledgor shall not be effective until received by the Pledgee or such Pledgor, as the case may be. All
notices and other communications shall be in writing and addressed as follows: 
  

	 	(a)	if to any Pledgor, at its address set forth opposite its signature below; 

  


	 	(b)	if to the Pledgee, at: 


Wilmington Trust, N.A. 
 50 South Sixth Street, Suite 1290 
 Minneapolis, MN 55402 

Attn: Josh James 
 Tel.: (612) 217-5637 
 Fax: (612) 217-5651 

Email: jjames@WilmingtonTrust.com 
 (c) if to any Secured Creditor, either (x) to the Administrative Agent, at the address of the Administrative Agent specified in the Loan Agreement, or (y) at such address as such Secured
Creditor shall have specified in the Loan Agreement; 

  
 [Second Lien
Pledge Agreement] 








 or at such other address or addressed to such other individual as shall have been furnished in writing by
any Person described above to the party required to give notice hereunder. 
 22. WAIVER; AMENDMENT. Except as provided in
Sections 30 and 32 hereof, none of the terms and conditions of this Agreement may be changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by each Pledgor directly affected thereby (it being understood that the
addition or release of any Pledgor hereunder shall not constitute a change, waiver, discharge or termination affecting any Pledgor other than the Pledgor so added or released) and the Pledgee (with the written consent of the Required Secured
Creditors). 
 23. SUCCESSORS AND ASSIGNS. This Agreement shall create a continuing security interest in the Collateral and
shall (i) remain in full force and effect, subject to release and/or termination as set forth in Section 20 hereof, (ii) be binding upon each Pledgor, its successors and assigns; provided, however, that no Pledgor shall
assign any of its rights or obligations hereunder without the prior written consent of the Pledgee (with the prior written consent of the Required Secured Creditors), and (iii) inure, together with the rights and remedies of the Pledgee
hereunder, to the benefit of the Pledgee, the other Secured Creditors and their respective successors, transferees and assigns. All agreements, statements, representations and warranties made by each Pledgor herein or in any certificate or other
instrument delivered by such Pledgor or on its behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement, the Intercreditor Agreements and the
other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf. 
 24. HEADINGS
DESCRIPTIVE. The headings of the several Sections of this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 

25. GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE INTERNAL LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER
CREDIT DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH
PLEDGOR HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PLEDGOR HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK
PERSONAL JURISDICTION OVER SUCH PLEDGOR, AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN ANY OF THE AFORESAID COURTS THAT ANY SUCH COURT LACKS PERSONAL
JURISDICTION OVER SUCH PLEDGOR. EACH 

  
 [Second Lien
Pledge Agreement] 








 
PLEDGOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED
MAIL, POSTAGE PREPAID, TO ANY SUCH PLEDGOR AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 21 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PLEDGOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND
FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT
OF THE PLEDGEE UNDER THIS AGREEMENT, OR ANY SECURED CREDITOR, TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY PLEDGOR IN ANY OTHER JURISDICTION. 

(b) EACH PLEDGOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE
AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN
ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 (c)
EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY. 
 26. PLEDGOR’S DUTIES. It is expressly agreed, anything herein contained to the contrary notwithstanding,
that each Pledgor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Pledgee shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of
this Agreement, except for the safekeeping of Collateral actually in Pledgor’s possession, nor shall the Pledgee be required or obligated in any manner to perform or fulfill any of the obligations of any Pledgor under or with respect to any
Collateral. 
 27. COUNTERPARTS. This Agreement may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with
each Pledgor and the Pledgee. 

  
 [Second Lien
Pledge Agreement] 








 28. SEVERABILITY. Any provision of this Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 29. RECOURSE. This Agreement is made with full
recourse to each Pledgor and pursuant to and upon all the representations, warranties, covenants and agreements on the part of such Pledgor contained herein, in the Lee Intercreditor Agreement or the Pulitzer Intercreditor Agreement, as applicable,
and in the other Secured Debt Agreements and otherwise in writing in connection herewith or therewith. 
 30. ADDITIONAL
PLEDGORS. It is understood and agreed that any Subsidiary of the Borrower that is required to become a party to this Agreement after the date hereof pursuant to the requirements of the Loan Agreement, any Intercreditor Agreement or any other Secured
Debt Agreement, shall become a Pledgor hereunder by (x) executing a counterpart hereof and delivering same to the Pledgee or executing a joinder agreement and delivering same to the Pledgee, in each case as may be required by (and in form and
substance satisfactory to) the Pledgee, (y) delivering supplements to Annexes A through F, hereto as are necessary to cause such annexes to be complete and accurate with respect to such additional Pledgor on such date and (z) taking all
actions as specified in this Agreement as would have been taken by such Pledgor had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Pledgee and with all documents and actions
required above to be taken to the reasonable satisfaction of the Pledgee. 
 31. LIMITED OBLIGATIONS. It is the desire and
intent of each Pledgor and the Secured Creditors that this Agreement shall be enforced against each Pledgor to the fullest extent permissible under the laws applied in each jurisdiction in which enforcement is sought. Notwithstanding anything to the
contrary contained herein, in furtherance of the foregoing, it is noted that the obligations of each Pledgor constituting a Subsidiary Guarantor have been limited as provided in the Subsidiaries Guaranty. 

32. RELEASE OF PLEDGORS. If at any time all of the Equity Interests of any Pledgor owned by the Borrower or any of its Subsidiaries are
sold (to a Person other than a Credit Party) in a transaction permitted pursuant to the Loan Agreement (and which does not violate the terms of any other Secured Debt Agreement then in effect), then, such Pledgor shall be released as a Pledgor
pursuant to this Agreement without any further action hereunder (it being understood that the sale of all of the Equity Interests in any Person that owns, directly or indirectly, all of the Equity Interests in any Pledgor shall be deemed to be a
sale of all of the Equity Interests in such Pledgor for purposes of this Section), and the Pledgee is authorized and directed to execute and deliver such instruments of release as are reasonably satisfactory to it. At any time that the Borrower
desires that a Pledgor be released from this Agreement as provided in this Section 32, the Borrower shall deliver to the Pledgee a certificate signed by an Authorized Officer of the Borrower stating that the release of such Pledgor is permitted
pursuant to this Section 32. If requested by Pledgee (although the Pledgee shall have no obligation to make any such request), the Borrower shall furnish legal opinions (from counsel acceptable to the Pledgee) to the effect set forth in the
immediately preceding sentence. The Pledgee shall have no liability 

  
 [Second Lien
Pledge Agreement] 








 
whatsoever to any other Secured Creditor as a result of the release of any Pledgor by it in accordance with, or which it believes in good faith to be in accordance with, this Section 32.

 33. INTERCREDITOR AGREEMENTS. Notwithstanding anything herein to the contrary, the exercise of any right or remedy by the
Pledgee hereunder in respect of Common Collateral (as defined in the Lee Intercreditor Agreement) or Common Collateral (as defined in the Pulitzer Intercreditor Agreement) shall be subject to the provisions of the Lee Intercreditor Agreement and the
Pulitzer Intercreditor Agreement, respectively. In the event of any conflict between the terms of the Lee Intercreditor Agreement (with respect to Common Collateral (as defined therein)) or the Pulitzer Intercreditor Agreement (with respect to
Common Collateral (as defined therein)) and this Agreement, the terms of the Lee First Lien Intercreditor Agreement or the Pulitzer Intercreditor Agreement, as applicable, shall govern and control. 

* * * * 

  
 [Second Lien
Pledge Agreement] 








 IN WITNESS WHEREOF, each Pledgor and the Pledgee have caused this Agreement to be executed
by their duly elected officers duly authorized as of the date first above written. Address: 
  

									
	201 North Harrison Street, Suite 600	 		 	LEE ENTERPRISES, INCORPORATED,
	Davenport, Iowa 52801	 		 	as a Pledgor
	Attention: Chief Financial Officer	 		 		 	
	Tel: (563) 383-2179	 		 	By:	 	 
	Fax: (563) 327-2600	 		 		 	Title:
				
	c/o Lee Enterprises, Incorporated	 		 		 	
	201 North Harrison Street, Suite 600	 		 		 	
	Davenport, Iowa 52801	 		 		 	
	Attention: Chief Financial Officer	 		 		 	
	Tel: (563) 383-2179	 		 		 	
	Fax: (563) 327-2600	 		 		 	


  
 [Signature
page to Second Lien Pledge Agreement] 








  

					
	ST. LOUIS POST-DISPATCH LLC
		
	By:	 	Pulitzer Inc., Managing Member
			
		 	By:	 	 
		 	Name:	 	Carl G. Schmidt
		 	Title:	 	Treasurer
	
	Address for Notices:
	St. Louis Post-Dispatch LLC
	201 N. Harrison Street, Suite 600
	Davenport, IA 52801
	Attention: Vice President, Chief Financial Officer and Treasurer
	Telephone: 563-383-2179
	Facsimile: 563-328-4322
	Email: carl.schmidt@lee.net
	
	With copy to: Lane & Waterman LLP
		 		 	    220 N. Main St., Suite 600
		 		 	    Davenport, IA 52801
		 		 	    Attention: C. D. Waterman III
		 		 	    Telephone: 563-333-6608
		 		 	    Facsimile:  563-324-1616
		 		 	    Email:        dwaterman@l-wlaw.com



  
 [Signature
page to Second Lien Pledge Agreement] 








  

			
	PULITZER INC.
		
	By:	 	 
	Name:	 	Carl G. Schmidt
	Title:	 	Treasurer
	
	Address for Notices:
	Pulitzer Inc.
	201 N. Harrison Street, Suite 600
	Davenport, IA 52801
	Attention: Vice President, Chief Financial Officer and Treasurer
	Telephone: 563-383-2179
	Facsimile: 563-328-4322
	Email: carl.schmidt@lee.net


 
			
		
	With copy to:	 	Lane & Waterman LLP
		 	220 N. Main St., Suite 600
		 	Davenport, IA 52801
		 	Attention: C. D. Waterman III
		 	Telephone: 563-333-6608
		 	Facsimile: 563-324-1616
		 	Email: dwaterman@l-wlaw.com



  
 [Second Lien
Pledge Agreement] 








  

			
	ACCUDATA, INC.
	FLAGSTAFF PUBLISHING CO.
	HANFORD SENTINEL INC.
	INN PARTNERS, L.C.
	JOURNAL-STAR PRINTING CO.
	K. FALLS BASIN PUBLISHING, INC.
	KAUAI PUBLISHING CO.
	LEE CONSOLIDATED HOLDINGS CO.
	LEE PROCUREMENT SOLUTIONS CO.
	LEE PUBLICATIONS, INC.
	NAPA VALLEY PUBLISHING CO.
	NIPC, INC.
	NORTHERN LAKES PUBLISHING CO.
	PANTAGRAPH PUBLISHING CO.
	PULITZER MISSOURI NEWSPAPERS, INC.
	PULITZER NEWSPAPERS, INC.
	PULITZER TECHNOLOGIES, INC.
	PULITZER UTAH NEWSPAPERS, INC.
	SANTA MARIA TIMES, INC.
	SIOUX CITY NEWSPAPERS, INC.
	SOUTHWESTERN OREGON PUBLISHING     CO.
	STAR PUBLISHING COMPANY
	YNEZ CORPORATION
		
	By:	 	 
	Name:	 	C. D. Waterman III
	Title:	 	Secretary



  
 [Second Lien
Pledge Agreement] 








  

					
	FAIRGROVE LLC
		
	By:	 	 ST. LOUIS POST-DISPATCH LLC,
 Managing Member

		 		 	
			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary


  

					
	NVPC LLC
		
	By:	 	 NAPA VALLEY PUBLISHING CO.,
 Managing Member

		 		 	
			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary


  

					
	 STL DISTRIBUTION SERVICES LLC
 SUBURBAN JOURNALS OF GREATER ST.
     LOUIS LLC

PULITZER NETWORK SYSTEMS LLC

		
	By:	 	 PULITZER INC.,

Managing Member

		 		 	
			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary


  

					
	 HOMECHOICE, LLC
 SHTP LLC

		
	By:	 	 PULITZER NEWSPAPERS, INC.,
 Managing Member

		 		 	
			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary



  
 [Second Lien
Pledge Agreement] 








  

					
	SOPC LLC
		
	By:	 	SOUTHWESTERN OREGON PUBLISHING CO., Managing Member
			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary


  

					
	NLPC LLC
		
	By:	 	NORTHERN LAKES PUBLISHING CO., Managing Member
			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary


  

					
	HSTAR LLC
		
	By:	 	 PANTAGRAPH PUBLISHING CO.,
 Managing Member

			
		 	By:	 	 
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary


  

					
	 Address for Notices:
 c/o Pulitzer Inc.
 201 N. Harrison Street, Suite 600

Davenport, IA 52801
 Attention: Vice President, Chief Financial Officer
and Treasurer
 Telephone:
563-383-2179
 Facsimile: 563-328-4322

Email: dwaterman@l-wlaw.com



  

					
	With copy to:	 	 Lane & Waterman LLP

220 N. Main St., Suite 600
 Davenport, IA
52801
 Attention: C. D. Waterman III

Telephone: 563-333-6608
 Facsimile:
563-324-1616
 Email: dwaterman@l-wlaw.com




  
 [Signature
page to Second Lien Pledge Agreement] 








  

			
	 Accepted and Agreed to:
  

WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Collateral Agent and Pledgee

		
	By:	 	 
		 	Title:


  
 [Signature
page to Second Lien Pledge Agreement] 








 ANNEX A 
 to 
 PLEDGE AGREEMENT 

SCHEDULE OF LEGAL NAMES, TYPE OF ORGANIZATION 
 (AND WHETHER A REGISTERED ORGANIZATION AND/OR 
 A TRANSMITTING UTILITY),
JURISDICTION OF ORGANIZATION, 
 LOCATION AND ORGANIZATIONAL IDENTIFICATION NUMBERS 

 

																			
	 Exact Legal
Name of Each
Pledgor
	  	Type of
Organization
(or, if the
Pledgor is an
Individual, so
indicate)	 	Registered
Organization
(Yes/No)	  	Jurisdiction
of
Organization	  	 Pledgor’s Location
(for purposes of NY
UCC
§ 9-307)
	  	Pledgor’s
Organization
Identification
Number (or,
if it has
none, so
indicate)	  	Pledgor’s
Federal
Employer
Identification
Number (or,
if it has
none,
so
indicate)	 	 	


Transmitting
Utility?
(Yes/No)	 
	 Lee Enterprises, Incorporated
	  	Corporation	 	Yes	  	Delaware	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801	  	0441410	  	 	[redacted]	  	 	 	No	  
								
	 Journal-Star Printing Co.
	  	Corporation	 	Yes	  	Nebraska	  	926 P Street, Lincoln, NE 68501	  	1367163	  	 
	[redacted]
	  
	 	 	No	  
								
	 Accudata, Inc.
	  	Corporation	 	Yes	  	Iowa	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801	  	152599	  	 
	[redacted]
	  
	 	 	No	  
								
	 INN PARTNERS, L.C.
	  	Limited
Liability
Company	 	Yes	  	Iowa	  	1510 47th Ave., Moline, IL 61265	  	190119	  	 
	[redacted]
	  
	 	 	No	  








 Annex A 
 Page 2 
  

																			
	 Exact Legal
Name of Each
Pledgor
	  	Type of
Organization
(or, if the
Pledgor is an
Individual, so
indicate)	 	Registered
Organization
(Yes/No)	  	Jurisdiction of
Organization	  	 Pledgor’s Location
(for purposes of NY
UCC
§ 9-307)
	  	Pledgor’s
Organization
Identification
Number (or,
if it has none,
so indicate)	  	Pledgor’s
Federal
Employer
Identification
Number (or,
if it has
none,
so
indicate)	 	 	


Transmitting
Utility?
(Yes/No)	 
	 K. Falls Basin Publishing, Inc.
	  	Corporation	 	Yes	  	Oregon	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801	  	165730-16	  	 
	[redacted]
	  
	 	 	No	  
								
	 Lee Consolidated Holdings Co.
	  	Corporation	 	Yes	  	South Dakota	  	 507 Main Street, Rapid City, SD
 57709
	  	DB029424	  	 
	[redacted]
	  
	 	 	No	  
								
	 Lee Publications, Inc.
	  	Corporation	 	Yes	  	Delaware	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801	  	0786047	  	 
	[redacted]
	  
	 	 	No	  
								
	 Lee Procurement Solutions Co.
	  	Corporation	 	Yes	  	Iowa	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801	  	24577	  	 
	[redacted]
	  
	 	 	No	  
								
	 Sioux City Newspapers, Inc.
	  	Corporation	 	Yes	  	Iowa	  	515 Pavonia Street, Sioux City, IA 51102	  	37516	  	 
	[redacted]
	  
	 	 	No	  
								
	 Pulitzer Inc.
	  	Corporation	 	Yes	  	Delaware	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099	  	2900072	  	 
	[redacted]
	  
	 	 	No	  








 Annex A 
 Page 3 
  

																			
	 Exact Legal
Name of Each
Pledgor
	  	Type of
Organization
(or, if the
Pledgor is an
Individual, so
indicate)	 	Registered
Organization
(Yes/No)	  	Jurisdiction of
Organization	  	 Pledgor’s Location
(for purposes of NY
UCC
§ 9-307)
	  	Pledgor’s
Organization
Identification
Number (or,
if it has none,
so indicate)	  	Pledgor’s
Federal
Employer
Identification
Number (or,
if it has
none,
so
indicate)	 	 	


Transmitting
Utility?
(Yes/No)	 
	 Pulitzer Technologies, Inc.
	  	Corporation	 	Yes	  	Delaware	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099	  	3219438	  	 	[redacted]	  	 	 	No	  
								
	 St. Louis Post-Dispatch LLC
	  	Limited
Liability
Company	 	Yes	  	Delaware	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099	  	3211374	  	 
	[redacted]
	  
	 	 	No	  
								
	 Pulitzer Newspapers, Inc.
	  	Corporation	 	Yes	  	Delaware	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099	  	0317323	  	 
	[redacted]
	  
	 	 	No	  
								
	 Napa Valley Publishing Co.
	  	Corporation	 	Yes	  	Washington	  	1615 2nd Street, Napa, CA 94559	  	601114867	  	 
	[redacted]
	  
	 	 	No	  
								
	 Northern Lakes Publishing Co.
	  	Corporation	 	Yes	  	Delaware	  	 201 N. Harrison St. Ste. 600,
 Davenport, IA 52801
	  	2618270	  	 
	[redacted]
	  
	 	 	No	  
								
	 Pantagraph Publishing Co.
	  	Corporation	 	Yes	  	Delaware	  	301 W. Washington St., Bloomington, IL 61702	  	2062509	  	 
	[redacted]
	  
	 	 	No	  
								
	 Southwestern Oregon Publishing Co.
	  	Corporation	 	Yes	  	Oregon	  	350 Commercial Ave., Coos Bay, OR 97420	  	101998-18	  	 
	[redacted]
	  
	 	 	No	  








 ANNEX B 
 to 
 PLEDGE AGREEMENT 

SCHEDULE OF SUBSIDIARIES 
  

							
	 Subsidiary Name
	  	 Percentage Ownership &
Ownership
Position
	  	 Type of Equity

Interest
	  	 State of

Incorporation/
 Organization

				
	Journal-Star Printing Co.	  	100% wholly-owned subsidiary of Lee Enterprises, Incorporated	  	Common Stock	  	Nebraska
				
	Accudata, Inc.	  	100% wholly-owned subsidiary of Lee Enterprises, Incorporated	  	Common Stock	  	Iowa
				
	INN Partners, L.C.	  	82.46% subsidiary of Accudata, Inc.1	  	Percentage Membership Interest	  	Iowa
				
	K. Falls Basin Publishing, Inc. (Inactive)	  	100% wholly-owned subsidiary of Lee Enterprises, Incorporated	  	Common Stock	  	Oregon
				
	Lee Consolidated Holdings Co.	  	100% wholly-owned subsidiary of Lee Enterprises, Incorporated	  	Common Stock	  	South Dakota
				
	Lee Publications, Inc.	  	100% wholly-owned subsidiary of Lee Enterprises, Incorporated	  	 Class A Common Stock
 Class B
Common Stock
	  	Delaware
				
	Lee Procurement Solutions Co.	  	100% wholly-owned subsidiary of Lee Publications, Inc.	  	Common Stock	  	Iowa
				
	Sioux City Newspapers, Inc.	  	100% wholly-owned subsidiary of Lee Publications, Inc.	  	 Class A Common Stock
 Class B
Common Stock
	  	Iowa
				
	Pulitzer Inc.	  	100% wholly-owned subsidiary of Lee Publications, Inc.	  	 Common Stock and
 Class B
Common Preferred Stock
	  	Delaware
				
	Pulitzer Technologies, Inc.	  	100% wholly-owned subsidiary of Pulitzer Inc.	  	Common Stock	  	Delaware

  

	1 	 Remaining equity held by non-affiliate individuals. 









 Annex B 
 Page 2 
  

							
	 Subsidiary Name
	  	 Percentage Ownership &
Ownership
Position
	  	 Type of Equity

Interest
	  	 State of

Incorporation/
 Organization

				
	St. Louis Post-Dispatch LLC	  	98.95% subsidiary of Pulitzer Inc.; 1.05% subsidiary of Pulitzer Technologies, Inc.	  	Percentage Membership Interest	  	Delaware
				
	Fairgrove LLC	  	100% wholly-owned subsidiary of St. Louis Post-Dispatch LLC	  	Percentage Membership Interest	  	Delaware
				
	STL Distribution Services LLC	  	98.95% subsidiary of Pulitzer Inc.; 1.05% subsidiary of Pulitzer Technologies, Inc.	  	Percentage Membership Interest	  	Delaware
				
	Star Publishing Company	  	100% wholly-owned subsidiary of Pulitzer Inc.	  	Common Stock	  	Arizona
				
	Suburban Journals of Greater St. Louis LLC	  	100% wholly-owned subsidiary of Pulitzer Inc.	  	Percentage Membership Interest	  	Delaware
				
	Pulitzer Network Systems LLC	  	100% wholly-owned subsidiary of Pulitzer Inc.	  	Percentage Membership Interest	  	Delaware
				
	Pulitzer Newspapers, Inc.	  	100% wholly-owned subsidiary of Pulitzer Inc.	  	Common Stock	  	Delaware
				
	Flagstaff Publishing Co.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Washington
				
	Hanford Sentinel Inc.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Washington
				
	HomeChoice, LLC	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Percentage Membership Interest	  	Utah
				
	Kauai Publishing Co.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Delaware
				
	Napa Valley Publishing Co.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Washington
				
	NVPC LLC	  	100% wholly-owned subsidiary of Napa Valley Publishing Co.	  	Percentage Membership Interest	  	Delaware
				
	NIPC, Inc. f/k/a Northern
Illinois Publishing Co., Inc.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Delaware








 Annex B 
 Page 3 
  

							
	 Subsidiary Name
	  	 Percentage Ownership &
Ownership
Position
	  	 Type of Equity

Interest
	  	 State of

Incorporation/
 Organization

				
	Northern Lakes Publishing Co.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Delaware
				
	NLPC LLC	  	100% wholly-owned subsidiary of Northern Lakes Publishing Co.	  	Percentage Membership Interest	  	Delaware
				
	Pantagraph Publishing Co.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Delaware
				
	HSTAR LLC	  	100% wholly-owned subsidiary of Pantagraph Publishing Co.	  	Percentage Membership Interest	  	Delaware
				
	Pulitzer Missouri Newspapers, Inc.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Delaware
				
	Pulitzer Utah Newspapers, Inc. (Inactive)	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Delaware
				
	Santa Maria Times, Inc.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Nevada
				
	SHTP LLC	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Percentage Membership Interest	  	Delaware
				
	Southwestern Oregon Publishing Co.	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	Oregon
				
	SOPC LLC	  	100% wholly-owned subsidiary of Southwestern Oregon Publishing Co.	  	Percentage Membership Interest	  	Delaware
				
	Ynez Corporation	  	100% wholly-owned subsidiary of Pulitzer Newspapers, Inc.	  	Common Stock	  	California








 ANNEX C 
 to 
 PLEDGE AGREEMENT 

SCHEDULE OF STOCK 
  

	1.	Lee Enterprises, Incorporated 

  

																			
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	 	  	Certificate
No.	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of Pledge
Agreement	 
	 Journal-Star Printing Co.
	  	Common	  	 	1,000	  	  	 	2	  	  	 	100	% 	 	 	(i	) 
	 Accudata, Inc.
	  	Common	  	 	1,000	  	  	 	1	  	  	 	100	% 	 	 	(i	) 
	 K. Falls Basin Publishing, Inc.
	  	Common	  	 	666 2/3	  	  	 	7	  	  	 	100	% 	 	 	(i	) 
	 Lee Consolidated Holdings Co.
	  	Common	  	 	250	  	  	 	1	  	  	 	100	% 	 	 	(i	) 
	 Lee Publications, Inc.
	  	Class A
Common;	  	 	157,149;	  	  	 	1091;	  	  	 	100	% 	 	 	(i	) 
		  	Class B
Common	  	  
	 17,415
	   
	  	  
	 27
	   
	  				 			

  

	2.	Journal-Star Printing Co. 

  

											
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement
	 None
	  		  		  		  		  	








 Annex C 
 page 2 
  

	3.	Accudata, Inc. 

  

											
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement
	 None
	  		  		  		  		  	

  

	4.	INN Partners, L.C. 

  

															
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	 	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement	 
	 RealMatch, LTD.
	  	Common	  	 	184,236	  	  	Not
Indicated	  	Unknown	  	 	(i	) 
		  		  				  		  	(Less than
50%)	  			
	 RealMatch, LTD.
	  	Common	  	 	27,778	  	  	Not
Indicated	  	Unknown	  	 	(i	) 
		  		  				  		  	(Less than
50%)	  			

  

	5.	K. Falls Basin Publishing, Inc. 

  

											
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement
	 None
	  		  		  		  		  	








 Annex C 
 page 3 
  

	6.	Lee Consolidated Holdings Co. 

  

											
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement
	 None
	  		  		  		  		  	

  

	7.	Lee Publications, Inc. 

  

																	
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	 	  	Certificate
No.	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of Pledge
Agreement	 
	 Lee Procurement Solutions Co.
	  	Common	  	 	50,000	  	  	5	  	 	100	% 	 	 	(i	) 
	 Sioux City Newspapers, Inc.
	  	Class A
Common;	  	 	7272;	  	  	16 & 17	  	 	100	% 	 	 	(i	) 
		  	Class B
Common	  	 	7575	  	  	8 & 9	  	 	100	% 	 			
	 Pulitzer Inc.
	  	Common	  	 	1,000	  	  	3	  	 	100	% 	 	 	(i	) 

  

	8.	Lee Procurement Solutions Co. 

  

											
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement
	 None
	  		  		  		  		  	

  

	9.	Sioux City Newspapers, Inc. 

  

											
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	  	Certificate
No.	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge
Agreement
	 None
	  		  		  		  		  	








 Annex C 
 page 4 
  

	10.	Pulitzer Inc. 

  

																			
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	 	  	Certificate
No.	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of Pledge
Agreement	 
	 Pulitzer Technologies, Inc.
	  	Common	  	 	500	  	  	 	1	  	  	 	100	% 	 	 	(i	) 
	 Pulitzer Newspapers, Inc.
	  	Common	  	 	9.3	  	  	 	1	  	  	 	100	% 	 	 	(i	) 
	 Star Publishing Company
	  	Common	  	 	50,120	  	  	 	10	  	  	 	100	% 	 	 	(i	) 

  

	11.	Pulitzer Newspapers, Inc. 

  

																			
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	 	  	Certificate
No.	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of Pledge
Agreement	 
	 Flagstaff Publishing Co.
	  	Common	  	 	1,875	  	  	 	19	  	  	 	100	% 	 	 	(i	) 
	 Hanford Sentinel Inc.
	  	Common	  	 	4,200	  	  	 	23	  	  	 	100	% 	 	 	(i	) 
	 Kauai Publishing Co.
	  	Common	  	 	4,300	  	  	 	3	  	  	 	100	% 	 	 	(i	) 
	 NIPC, Inc.
	  	Common	  	 	797	  	  	 	3	  	  	 	100	% 	 	 	(i	) 
	 Santa Maria Times, Inc.
	  	Common	  	 	4,950	  	  	 	13	  	  	 	100	% 	 	 	(i	) 
	 Ynez Corporation
	  	Common	  	 	90	  	  	 	1	  	  	 	100	% 	 	 	(i	) 
	 Pulitzer Utah Newspapers, Inc.
	  	Common	  	 	100	  	  	 	1	  	  	 	100	% 	 	 	(i	) 
	 Napa Valley Publishing Co.
	  	Common	  	 	8,000	  	  	 	29	  	  	 	100	% 	 	 	(i	) 
	 Northern Lakes Publishing Co.
	  	Common	  	 	2,300	  	  	 	3	  	  	 	100	% 	 	 	(i	) 
	 Pantagraph Publishing Co.
	  	Common	  	 	100	  	  	 	4	  	  	 	100	% 	 	 	(i	) 








 Annex C 
 page 5 
  

																			
	 Name of Issuing Corporation
	  	Type of
Shares	  	Number of
Shares	 	  	Certificate
No.	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of Pledge
Agreement	 
	 Southwestern Oregon Publishing Co.
	  	Common	  	 	11,960	  	  	 	14	  	  	 	100	% 	 	 	(i	) 
	 Pulitzer Missouri Newspapers, Inc.
	  	Common	  	 	48,504	  	  	 	4	  	  	 	100	% 	 	 	(i	) 








 ANNEX D 
 to 
 PLEDGE AGREEMENT 

SCHEDULE OF LIMITED LIABILITY COMPANY INTERESTS 
  

	1.	Lee Enterprises, Incorporated 

  

							
	 Name of
 Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	2.	Journal-Star Printing Co. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	3.	Accudata, Inc 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 Inn Partners, L.C.
	  	 	LLC	  	  	 	82.46	% 	 	 	(iv	) 
	 Community Distribution Partners, LLC
	  	 	LLC	  	  	 	50	% 	 	 	(iv	) 








 Annex D 
 Page 2 
  

	4.	INN Partners, L.C. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	5.	K. Falls Basin Publishing Inc. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	6.	Lee Consolidated Holdings Co. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	7.	Lee Publications, Inc. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	








 Annex D 
 Page 3 
  

	8.	Lee Procurements Solutions Co. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	9.	Sioux City Newspapers, Inc. 

  

							
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	  	Percentage
Owned	  	Sub-clause of
Section 3.2(a)
of Pledge 
Agreement
	 None
	  		  		  	

  

	10.	Pulitzer Inc. Inc. 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 St. Louis Post-Dispatch LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 
	 STL Distribution Services LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 
	 Suburban Journals of Greater St. Louis LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 
	 Pulitzer Network Systems LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 
	 Media Brands, L.L.C.
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 








 Annex D 
 Page 4 
  

	11.	Pulitzer Newspapers, Inc. 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 SHTP LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 
	 HomeChoice, LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 

  

	12.	St. Louis Post-Dispatch LLC 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 Fairgrove LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 

  

	13.	Pulitzer Technologies, Inc. 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 STL Distribution Services LLC
	  	 	LLC	  	  	 	1.05	% 	 	 	(iv	) 
	 St. Louis Post-Dispatch LLC
	  	 	LLC	  	  	 	1.05	% 	 	 	(iv	) 

  

	14.	Napa Valley Publishing Co 








 Annex D 
 Page 5 
  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 NVPC LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 

  

	15.	Northern Lakes Publishing Co. 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 NLPC LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 

  

	16.	Pantagraph Publishing Co. 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 HSTAR LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 

  

	17.	Southwestern Oregon Publishing Co. 

  

													
	 Name of
Issuing Limited
Liability Company
	  	Type of
Interest	 	  	Percentage
Owned	 	 	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 SOPC LLC
	  	 	LLC	  	  	 	100	% 	 	 	(iv	) 








 ANNEX E 
 to 
 PLEDGE AGREEMENT 

SCHEDULE OF PARTNERSHIP INTERESTS 
  

	1.	Pulitzer Inc. 

  

									
	 Name of Issuing Partnership
	  	 Type of

Interest
	  	 Percentage

Owned
	  	Sub-clause of
Section 3.2(a)
of 
Pledge Agreement	 
	 Sandler Capital Partners IV, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	 Sandler Capital Partners, IV FTE, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	 Sandler Capital Partners V, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	 Sandler Capital Partners V FTE, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	 Sandler Capital Partners V Germany, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	
21st Century Communications Partners, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	
21st Century Communications T-E Partners, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	
21st Century Communications Foreign Partners, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  
				
	 St. Louis Equity Funds, L.P.
	  	Limited Partnership	  	Less than 50%	  	 	(iv)	  








 ANNEX F 
 to  
 PLEDGE AGREEMENT 

SCHEDULE OF CHIEF EXECUTIVE OFFICES 
  

			
	 Name of Pledgor
	  	 Address of Chief Executive Office

	Lee Enterprises, Incorporated	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801
		
	Journal-Star Printing Co.	  	926 P Street, Lincoln, NE 68501
		
	Accudata, Inc.	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801
		
	INN PARTNERS, L.C.	  	1510 47th Ave., Moline, IL 61265
		
	K. Falls Basin Publishing, Inc.	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801
		
	Lee Consolidated Holdings Co.	  	507 Main Street, Rapid City, SD 57709
		
	Lee Publications, Inc.	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801
		
	Lee Procurement Solutions Co.	  	201 N. Harrison St. Ste. 600, Davenport, IA 52801
		
	Sioux City Newspapers, Inc.	  	515 Pavonia Street, Sioux City, IA 51102
		
	Pulitzer Inc.	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099
		
	St. Louis Post-Dispatch LLC	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099
		
	Pulitzer Newspapers, Inc.	  	404 W. 3700 N., Provo, UT 84604
		
	Pulitzer Technologies, Inc.	  	900 N. Tucker Blvd., St. Louis, MO 63101-1099








 ANNEX F 
 Page 2 
  

			
	Napa Valley Publishing Co.	 	1615 2nd Street, Napa, CA 94559
		
	Northern Lakes Publishing Co.	 	201 N. Harrison St., Ste. 600, Davenport, IA 52801
		
	Pantagraph Publishing Co.	 	301 W. Washington Street, Bloomington, IL 61702
		
	Southwestern Oregon Publishing Co.	 	350 Commercial Avenue, Coos Bay, OR 97420








 ANNEX G 
 to 
 PLEDGE AGREEMENT 

Form of Agreement Regarding Uncertificated Securities, Limited Liability 

Company Interests and Partnership Interests 
 AGREEMENT (as amended, modified, restated and/or supplemented from time to time, this “Agreement”), dated as of
[             __, 20__], among the undersigned pledgor (the “Pledgor”), Wilmington Trust, National Association, not in its individual capacity but solely as
Collateral Agent (the “Pledgee”), and [            ], as the issuer of the Issuer Pledged Interests (as defined below) (the “Issuer”). 

W I T N E S S E T H : 

WHEREAS, Lee Enterprises, Incorporated (the “Borrower”), the lenders from time to time party thereto (the
“Lenders”), Deutsche Bank Securities Inc. and Goldman Sachs Lending Partners LLC, as Joint Lead Arrangers and Joint Book Running Managers, and Wilmington Trust, National Association, as administrative agent (together with any
successor administrative agent, the “Administrative Agent”), have entered into a Second Lien Loan Agreement, dated as of
[                    ] (as amended, modified, restated and/or supplemented from time to time, the “Loan Agreement”),
providing for the making and continuation of Loans to the Borrower, all as contemplated therein (the Lenders, the Administrative Agent and the Pledgee are herein called the “Secured Creditors”), the Pledgor has or will pledge to the
Pledgee for the benefit of the Secured Creditors (as defined in the Pledge Agreement), and grant a security interest in favor of the Pledgee for the benefit of the Secured Creditors in, all of the right, title and interest of the Pledgor in and to
any an all [“uncertificated securities” (as defined in Section 8-102(a)(18) of the Uniform Commercial Code, as adopted in the State of New York) (“Uncertificated Securities”)] [Partnership Interests (as defined in the Pledge
Agreement)] [Limited Liability Company Interests (as defined in the Pledge Agreement)], from time to time issued by the Issuer, whether now existing or hereafter from time to time acquired by the Pledgor (with all of such [Uncertificated Securities]
[Partnership Interests] [Limited Liability Company Interests] being herein collectively called the “Issuer Pledged Interests”; and 
 WHEREAS, the Pledgor desires the Issuer to enter into this Agreement in order to perfect the security interest of the Pledgee under the Pledge Agreement in the Issuer Pledged Interests, to vest in the
Pledgee control of the Issuer Pledged Interests and to provide for the rights of the parties under this Agreement; 
 NOW
THEREFORE, in consideration of the premises and the mutual promises and agreements contained herein, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 1. The Pledgor hereby irrevocably authorizes and directs the Issuer, and the Issuer hereby agrees, to comply with any and all
instructions and orders originated by the Pledgee (and its successors and assigns) regarding any and all of the Issuer Pledged Interests without the further consent by the registered owner (including the Pledgor), and, following its receipt of a
notice from the Pledgee stating that the Pledgee is exercising exclusive control of the 







 Annex G 
 Page 2 
 Issuer Pledged Interests, not to comply with any instructions or orders regarding any or
all of the Issuer Pledged Interests originated by any person or entity other than the Pledgee (and its successors and assigns) or a court of competent jurisdiction. 
 2. The Issuer hereby certifies that (i) no notice of any security interest, lien or other encumbrance or claim affecting the Issuer Pledged Interests (other than the security interest of the Pledgee)
has been received by it, and (ii) the security interest of the Pledgee in the Issuer Pledged Interests has been registered in the books and records of the Issuer. 
 3. The Issuer hereby represents and warrants that (i) the pledge by the Pledgor of, and the granting by the Pledgor of a security interest in, the Issuer Pledged Interests to the Pledgee, for the
benefit of the Secured Creditors, does not violate the charter, by-laws, partnership agreement, membership agreement or any other agreement governing the Issuer or the Issuer Pledged Interests, and (ii) the Issuer Pledged Interests consisting
of capital stock of a corporation are fully paid and nonassessable. 
 4. All notices, statements of accounts, reports,
prospectuses, financial statements and other communications to be sent to the Pledgor by the Issuer in respect of the Issuer will also be sent to the Pledgee at the following address: 

Wilmington Trust, N.A. 
 50 South Sixth Street, Suite 1290 
 Minneapolis, MN 55402 

Attn: Josh James 
 Tel.: (612) 217-5637 
 Fax: (612) 217-5651 

Email: jjames@WilmingtonTrust.com 
 5. Following its receipt of a notice from the Pledgee stating that the Pledgee is exercising exclusive control of the Issuer Pledged Interests and until the Pledgee shall have delivered written notice to
the Issuer that all of the Obligations have been paid in full and this Agreement is terminated, the Issuer will send any and all redemptions, distributions, interest or other payments in respect of the Issuer Pledged Interests from the Issuer for
the account of the Pledgee only by wire transfers to such account as the Pledgee shall instruct. 
 6. Except as expressly
provided otherwise in Sections 4 and 5 above, all notices, instructions, orders and communications hereunder shall be sent or delivered by mail, telegraph, telex, telecopy, cable or overnight courier service and all such notices and communications
shall, when mailed, telexed, telecopied, cabled or sent by overnight courier, be effective when deposited in the mails or delivered to overnight courier, prepaid and properly addressed for delivery on such or the next Business Day, or sent by telex
or telecopier, except that notices and communications to the Pledgee or the Issuer shall not be effective until received. All notices and other communications shall be in writing and addressed as follows: 







 Annex G 
 Page 3 
  

	 	(a)	if to the Pledgor, at: 

  

	 	 	_________________________ 


	 	 	_________________________ 


	 	 	_________________________ 


	 	 	_________________________ 


	 	 	Attention: _________________ 


	 	 	Telephone No.: 


	 	 	Fax No.: 

  

	 	(b)	if to the Pledgee, at the address given in Section 4 hereof; 

  

	 	(c)	if to the Issuer, at: 

  

	 	 	___________________________________ 


	 	 	___________________________________ 


	 	 	___________________________________ 

 or at such
other address as shall have been furnished in writing by any Person described above to the party required to give notice hereunder. As used in this Section 6, “Business Day” means any day other than a Saturday, Sunday, or other
day in which banks in New York are authorized to remain closed. 
 7. This Agreement shall be binding upon the successors and
assigns of the Pledgor and the Issuer and shall inure to the benefit of and be enforceable by the Pledgee and its successors and assigns. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of
which shall constitute one instrument. In the event that any provision of this Agreement shall prove to be invalid or unenforceable, such provision shall be deemed to be severable from the other provisions of this Agreement which shall remain
binding on all parties hereto. None of the terms and conditions of this Agreement may be changed, waived, modified or varied in any manner whatsoever except in writing signed by the Pledgee, the Issuer and the Pledgor. 

8. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its
principles of conflict of laws. 







 Annex G 
 Page 4 
 IN WITNESS WHEREOF, the Pledgor, the Pledgee and the Issuer have caused
this Agreement to be executed by their duly elected officers duly authorized as of the date first above written. 
  

			
	
[                        
                                         
       ],
         as Pledgor

		
	By	 	 
		 	Name:
		 	Title:


  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	 not in its individual capacity but solely as Collateral Agent and Pledgee

		
	By	 	 
		 	Name:
		 	Title:


  

			
	
[                        
                                         
       ],
 as the Issuer

		
	By	 	 
		 	Name:
		 	Title: