Exhibit 10.17



 Exhibit 10.17 
 EXECUTION VERSION 
 INTERCOMPANY SUBORDINATION AGREEMENT 

THIS INTERCOMPANY SUBORDINATION AGREEMENT (as amended, restated, modified and/or supplemented from time to time, this
“Agreement”), dated as of January 30, 2012 made by each of the undersigned (each, a “Party” and, together with any entity that becomes a party to this Agreement pursuant to Section 9 hereof, the
“Parties”) and Wilmington Trust, National Association, as collateral agent (in such capacity, together with any successor collateral agent, the “Collateral Agent”), for the benefit of the Senior Creditors (as
defined below). Unless otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Loan Agreement referred to below. 
 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 January 30, 2012 providing for the making (or deemed making) and continuation of Loans to the Borrower, all as contemplated therein (with the Lenders, the Administrative Agent and the
Collateral Agent being herein called the “Secured Creditors”) (as used herein, the term “Loan Agreement” means the Second Lien Loan Agreement described above in this paragraph, as the same may be amended, restated,
modified, supplemented, extended, renewed, refinanced, replaced, or refunded from time to time, and including any agreement extending the maturity of, or refinancing or restructuring (including, but not limited to, the inclusion of additional
borrowers or guarantors thereunder or any increase in the amount borrowed) all or any portion of, the indebtedness under such agreement or any successor agreement, whether or not with the same agent, trustee, representative, lenders or holders;
provided that, with respect to any subsequent agreement providing for the refinancing or replacement of indebtedness under the Loan Agreement, such agreement shall only be treated as, or as part of, the Loan Agreement hereunder if
(i) either (A) all obligations under the Loan Agreement being refinanced or replaced shall be paid in full at the time of such refinancing or replacement or (B) the Required Lenders shall have consented in writing to the refinancing
or replacement indebtedness being treated as indebtedness pursuant to the Loan Agreement, and (ii) a notice to the effect that the refinancing or replacement indebtedness shall be treated as issued under the Loan Agreement shall be delivered by
the Borrower to the Collateral Agent); 
 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 defined in the Subsidiaries Guaranty); 
 WHEREAS, it is a condition precedent to the extensions of credit under the Loan Agreement that this Agreement be executed and delivered by the original Parties hereto; 

WHEREAS, additional Parties may from time to time become parties hereto in order to allow for certain extensions of credit in accordance
with the requirements of the Loan Agreement; and 







 WHEREAS, each of the original Parties desires to execute this Agreement to satisfy the
conditions described in the immediately preceding paragraphs. 
 NOW, THEREFORE, in consideration of the mutual promises
contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, the Parties and the Collateral Agent (for the benefit of the Senior Creditors) hereby agree as follows:

 1. The Subordinated Debt (as defined in Section 7 hereof) and all payments of principal, interest and all other amounts
thereunder are hereby, and shall continue to be, subject and subordinate in right of payment to the prior payment in full, in cash, of all Senior Indebtedness to the extent, and in the manner, set forth herein. The foregoing shall apply
notwithstanding the availability of collateral to the Senior Creditors or the holders of Subordinated Debt or the actual date and time of execution, delivery, recordation, filing or perfection of any security interests granted with respect to the
Senior Indebtedness or the Subordinated Debt, or the lien or priority of payment thereof, and in any instance wherein the Senior Indebtedness or any claim for the Senior Indebtedness (as defined in Section 7 hereof) is subordinated, avoided or
disallowed, in whole or in part, under the Bankruptcy Code or other applicable federal, foreign, state or local law. In the event of a proceeding, whether voluntary or involuntary, for insolvency, liquidation, reorganization, dissolution, bankruptcy
or other similar proceeding pursuant to the Bankruptcy Code or other applicable federal, foreign, state or local law (each, a “Bankruptcy Proceeding”), the Senior Indebtedness shall include all interest accrued on the Senior
Indebtedness, in accordance with and at the rates specified in the Senior Indebtedness, both for periods before and for periods after the commencement of any of such proceedings, even if the claim for such interest is not allowed pursuant to the
Bankruptcy Code or other applicable law. 
 2. Each Party (as a lender of any Subordinated Debt) hereby agrees that until the
Senior Indebtedness Termination Date shall have occurred: 
 (a) Such Party shall not, without the prior written consent of the
Required Senior Creditors (as defined in Section 7 hereof), which consent may be withheld or conditioned in the Required Senior Creditors’ sole discretion, commence, or join or participate in, any Enforcement Action (as defined in
Section 7 hereof). 
 (b) In the event that (i) all or any portion of any Senior Indebtedness remaining unpaid after
it becomes due (whether at stated maturity, by acceleration or otherwise), (ii) any Event of Default under the Loan Agreement or any event of default under, and as defined in, any other Senior Indebtedness (or the documentation governing the
same), then exists or would result from such payment on the Subordinated Debt (including, without limitation, pursuant to Section 11.09 of the Loan Agreement), (iii) such Party receives any payment or prepayment of principal, interest or
any other amount, in whole or in part, of (or with respect to) the Subordinated Debt in violation of the terms of the Loan Agreement or any other Senior Indebtedness (or the documentation governing the same) or (iv) any distribution, division
or application, partial or complete, voluntary or involuntary, by operation of law or otherwise, is made of all or any part of the property, assets or business of the Borrower or any of its Subsidiaries or the proceeds thereof, in whatever form, to
any creditor or creditors of the 







 
Borrower or any of its Subsidiaries or to any holder of indebtedness of the Borrower or any of its Subsidiaries or by reason of any liquidation, dissolution or other winding up of the Borrower,
any of its Subsidiaries or their respective businesses, or of any receivership or custodianship for the Borrower or any of its Subsidiaries or of all or substantially all of their respective property, or of any insolvency or bankruptcy proceedings
or assignment for the benefit of creditors or any proceeding by or against the Borrower or any of its Subsidiaries for any relief under any bankruptcy, reorganization or insolvency law or laws, federal, foreign, state or local, or any law, federal,
foreign, state or local relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or extension, then, and in any such event, any payment or distribution of any kind or character, whether in cash, property or
securities, which shall be payable or deliverable with respect to any or all of the Subordinated Debt or which has been received by any Party shall be held in trust by such Party for the benefit of the Senior Creditors and shall forthwith be paid or
delivered directly to the Senior Creditors for application to the payment of the Senior Indebtedness (after giving effect to the relative priorities of such Senior Indebtedness) to the extent necessary to make payment in full in cash of all sums due
under the Senior Indebtedness remaining unpaid after giving effect to any concurrent payment or distribution to the Senior Creditors. In any such event, the Senior Creditors may, but shall not be obligated to, demand, claim and collect any such
payment or distribution that would, but for these subordination provisions, be payable or deliverable with respect to the Subordinated Debt. In the event of the occurrence of any event referred to in subclauses (i), (ii), (iii) or
(iv) of the second preceding sentence of this clause (b) and until the Senior Indebtedness Termination Date shall have occurred and all of the obligations of the Borrower or any of its Subsidiaries to the Senior Creditors have been
performed in full, no payment of any kind or character (whether in cash, property, securities or otherwise) shall be made to or accepted by any Party in respect of the Subordinated Debt. Notwithstanding anything to the contrary contained above, if
one or more of the events referred to in subclauses (i) through (iv) of the first sentence of this clause (b) is in existence, the Required Senior Creditors may agree in writing that payments may be made with respect to the
Subordinated Debt which would otherwise be prohibited pursuant to the provisions contained above, provided that any such waiver shall be specifically limited to the respective payment or payments which the Required Senior Creditors agree may
be so paid to any Party in respect of the Subordinated Debt. 
 (c) If such Party shall acquire by indemnification, subrogation
or otherwise, any lien, estate, right or other interest in any of the assets or properties of the Borrower or any of its Subsidiaries, that lien, estate, right or other interest shall be subordinate in right of payment to the Senior Indebtedness and
the lien of the Senior Indebtedness as provided herein, and such Party hereby waives any and all rights it may acquire by subrogation or otherwise to any lien of the Senior Indebtedness or any portion thereof until such time as the Senior
Indebtedness Termination Date shall have occurred. 
 (d) Such Party shall not pledge, assign, hypothecate, transfer, convey or
sell any Subordinated Debt or any interest in any Subordinated Debt to any entity (other than under the relevant Security Documents (as hereinafter defined) or in accordance with the relevant requirements of the Loan Agreement to a Credit Party
which is a Party hereto) without the prior written consent of the Administrative Agent (with the prior written consent of the Required Senior Creditors). 







 (e) After request by the Administrative Agent or the Required Senior Creditors, such Party
shall within ten (10) days furnish the Senior Creditors with a statement, duly acknowledged and certified setting forth the original principal amount of the notes evidencing the indebtedness of the Subordinated Debt, the unpaid principal
balance, all accrued interest but unpaid interest and any other sums due and owing thereunder, the rate of interest, the monthly payments and that, to the best knowledge of such Party, there exists no defaults under the Subordinated Debt, or if any
such defaults exist, specifying the defaults and the nature thereof. 
 (f) In any case commenced by or against the Borrower or
any of its Subsidiaries under the Bankruptcy Code or any similar federal, foreign, state or local statute (a “Reorganization Proceeding”), to the extent permitted by applicable law, the Required Senior Creditors shall have the
exclusive right to exercise any voting rights in respect of the claims of such Party against the Borrower or any of its Subsidiaries. 
 (g) If, at any time, all or part of any payment with respect to Senior Indebtedness theretofore made (whether by the Borrower, any other Credit Party or any other Person or enforcement of any right of
setoff or otherwise) is rescinded or must otherwise be returned by the holders of Senior Indebtedness for any reason whatsoever (including, without limitation, the insolvency, bankruptcy or reorganization of the Borrower, any other Credit Party or
such other Persons), the subordination provisions set forth herein shall continue to be effective or be reinstated, as the case may be, all as though such payment had not been made. 

(h) Such Party shall not object to the entry of any order or orders approving any cash collateral stipulations, adequate protection
stipulations or similar stipulations executed by the Senior Creditors in any Reorganization Proceeding or any other proceeding under the Bankruptcy Code. 
 (i) Such Party waives any marshalling rights with respect to the Senior Creditors in any Reorganization Proceeding or any other proceeding under the Bankruptcy Code. 

(j) Notwithstanding anything herein to the contrary, if any amount otherwise required to be held for or paid to the Senior Creditors is
required to be held for or paid to any other Senior Creditors (as defined in the Lee Intercompany Subordination Agreement or the Pulitzer Intercompany Subordination Agreement, as applicable) pursuant to the Lee Intercompany Subordination Agreement
or the Pulitzer Intercompany Subordination Agreement, the terms of the Lee Intercompany Subordination Agreement or the Pulitzer Intercompany Subordination Agreement, as applicable, shall supersede the terms hereof and such amounts may be held for or
paid to such other Senior Creditors (as defined in the Lee Intercompany Subordination Agreement or the Pulitzer Intercompany Subordination Agreement, as applicable) pursuant to the Lee Intercompany Subordination Agreement or the Pulitzer
Intercompany Subordination Agreement, as applicable, without resulting in any violation by such Party of this Agreement. 
 3.
Each Party hereby represents, warrants and covenants as follows: 







 (a) each Party will deliver a schedule setting forth all Intercompany Debt to the
Administrative Agent within 10 days after any request by the Administrative Agent or the Required Senior Creditors (although any failure to deliver such a supplement shall have no effect whatsoever on the subordination provisions contained
herein, which shall apply to all Subordinated Debt whether or not listed on said schedule); and 
 (b) each Party will not lend,
hold or permit to exist any Intercompany Debt owed by it or to it (in accordance with the definition thereof contained herein) unless each obligee or obligor, as the case may be, with respect to such Intercompany Debt is (or concurrently with such
extension becomes) a Party to this Agreement. 
 4. Any payments made to, or received by, any Party in respect of any guaranty
or security in support of the Subordinated Debt shall be subject to the terms of this Agreement and applied on the same basis as payments made directly by the obligor under such Subordinated Debt. To the extent that the Borrower or any of its
Subsidiaries (other than the respective obligor or obligors which are already Parties hereto) provides a guaranty or any security in support of any Subordinated Debt, the Party which is the lender of the respective Subordinated Debt will cause each
such Person to become a Party hereto (if such Person is not already a Party hereto) not later than the date of the execution and delivery of the respective guarantee or security documentation, provided that any failure to comply with the
foregoing requirements of this Section will have no effect whatsoever on the subordination provisions contained herein (which shall apply to all payments received with respect to any guarantee or security for any Subordinated Debt, whether or
not the Person furnishing such guarantee or security is a Party hereto). 
 5. Each Party hereby acknowledges and agrees that no
payments will be accepted by it in respect of the Subordinated Debt (unless promptly turned over to the holders of Senior Indebtedness as contemplated by Section 2 above) to the extent such payments would be prohibited under any Senior
Indebtedness (or the documentation governing the same). 
 6. In addition to the foregoing agreements, each Party hereby
acknowledges and agrees that, with respect to all Intercompany Debt (whether or not same constitutes Subordinated Debt), that (x) such Intercompany Debt (and any promissory notes or other instruments evidencing same) may be pledged, and
delivered for pledge, by the Borrower or any of its Subsidiaries pursuant to any Security Document to which the Borrower or the respective such Subsidiary is, or at any time in the future becomes, a party and (y) with respect to all
Intercompany Debt so pledged, the Collateral Agent shall be entitled to exercise all rights and remedies with respect to such Intercompany Debt to the maximum extent provided in the various Security Documents (in accordance with the terms thereof
and subject to the requirements of applicable law). Furthermore, with respect to all Intercompany Debt at any time owed to any Credit Party, and notwithstanding anything to the contrary contained in the terms of such Intercompany Debt, each obligor
(including any guarantor) and obligee with respect to such Intercompany Debt hereby agrees, for the benefit of the holders from time to time of the Senior Indebtedness, that the Administrative Agent or the Collateral Agent may at any time, and from
time to time, acting on its own or at the request of the Required Senior Creditors, accelerate the maturity of such Intercompany Debt if (x) any obligor (including any guarantor) of such Intercompany Debt is subject to any Bankruptcy Proceeding
or (y) any event of default under the 







 
Loan Agreement shall have occurred and be continuing. Any such acceleration of the maturity of any Intercompany Debt shall be made by written notice by the Administrative Agent or Collateral
Agent to the obligor on the respective Intercompany Debt; provided that no such notice shall be required (and the acceleration shall automatically occur) either upon the occurrence of a Bankruptcy Proceeding with respect to the respective
obligor (or any guarantor) of the respective Intercompany Debt or upon (or following) any acceleration of the maturity of any Loans pursuant to the Loan Agreement. 
 7. Definitions. As and in this Agreement, the terms set forth below shall have the respective meanings provided below: 
 “Enforcement Action” shall mean any acceleration of all or any part of the Subordinated Debt, any foreclosure proceeding, the exercise of any power of sale, the obtaining of a receiver,
the seeking of default interest, the suing on, or otherwise taking action to enforce the obligation of the Borrower or any of its Subsidiaries to pay any amounts relating to any Subordinated Debt, the exercising of any banker’s lien or rights
of set-off or recoupment, the institution of a Bankruptcy Proceeding against the Borrower or any of its Subsidiaries, or the taking of any other enforcement action against any asset or Property of the Borrower or its Subsidiaries. 

“Intercompany Debt” shall mean any Indebtedness, payables or other obligations, whether now existing or hereinafter
incurred, owed by any Credit Party to the Borrower or any Subsidiary of the Borrower. 
 “Lee Intercompany Subordination
Agreement” shall mean the “Intercompany Subordination Agreement” referred to and defined in the First Lien Credit Agreement. 
 “Obligation” shall mean any principal, interest, premium, penalties, fees, indemnities and other liabilities and obligations payable under the documentation governing any indebtedness
(including, without limitation, all interest accruing after the commencement of any bankruptcy, insolvency, receivership or similar proceeding at the rate provided in the governing documentation, whether or not such interest is an allowed claim in
such proceeding). 
 “Pulitzer Intercompany Subordination Agreement” shall mean each “Subordinated
Intercompany Note” referred to and defined in the Pulitzer Debt Agreement or the documentation governing any Permitted Pulitzer Debt Refinancing Indebtedness. 
 “Required Senior Creditors” shall mean (i) 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) at all times prior to the Senior Indebtedness Termination Date, and (ii) the holders of at least a majority of the other outstanding Senior Indebtedness at all times after the Senior Indebtedness Termination Date. 

“Senior Creditors” shall mean all holders from time to time of any Senior Indebtedness and shall include, without
limitation, the Secured Creditors. 
 “Senior Indebtedness” shall mean all Obligations (including Obligations
which, but for the automatic stay under Section 362(a) of the Bankruptcy Code, would become due) and 







 
liabilities (including, without limitation, indemnities, fees and interest thereon) of each Credit Party (whether as obligor, guarantor or otherwise) to the Secured Creditors, whether now
existing or hereafter incurred under, arising out of or in connection with each Credit Document to which it is at any time a party (including, without limitation, all such obligations and liabilities of each Credit Party under the Loan Agreement (if
a party thereto) and under the Subsidiaries Guaranty (if a party thereto) or under any other guarantee by it of obligations pursuant to the Loan Agreement) and the due performance and compliance by each Credit Party with the terms of each such
Credit Document. 
 “Senior Indebtedness Termination Date” shall mean the first date after the Effective Date
upon which all Senior Indebtedness have been indefeasibly paid in full in cash. 
 “Subordinated Debt” shall
mean the principal of, interest on, and all other amounts owing from time to time in respect of, all Intercompany Debt (including, without limitation, pursuant to guarantees thereof or security therefor and intercompany payables not evidenced by a
note) at any time outstanding. 
 8. Each Party agrees to be fully bound by all terms and provisions contained in this
Agreement, both with respect to any Subordinated Debt (including any guarantees thereof and security therefor) owed to it, and with respect to all Subordinated Debt (including all guarantees thereof and security therefor) owing by it. 

9. It is understood and agreed that any Subsidiary of the Borrower that is required to execute a counterpart of this Agreement after the
date hereof pursuant to the requirements of the Loan Agreement or any other Senior Indebtedness shall become a Party hereunder by executing a counterpart hereof (or a joinder agreement in form and substance reasonably satisfactory to the
Administrative Agent) and delivering same to the Collateral Agent. 
 10. No failure or delay on the part of any party hereto or
any holder of Senior Indebtedness in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy hereunder. 
 11. Each Party hereto acknowledges that to the extent that no
adequate remedy at law exists for breach of its obligations under this Agreement, in the event any Party fails to comply with its obligations hereunder, the Collateral Agent, the Administrative Agent or the holders of Senior Indebtedness shall have
the right to obtain specific performance of the obligations of such defaulting Party, injunctive relief or such other equitable relief as may be available. 
 12. Any notice to be given under this Agreement shall be in writing and shall be sent in accordance with the provisions of the Loan Agreement. 

13. In the event of any conflict between the provisions of this Agreement and the provisions of the Subordinated Debt, the provisions of
this Agreement shall prevail. 







 14. No Person other than the parties hereto, the Senior Creditors from time to time and
their successors and assigns as holders of the Senior Indebtedness and the Subordinated Debt shall have any rights under this Agreement. 
 15. This Agreement may be executed in any number of counterparts each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 

16. No amendment, supplement, modification, waiver or termination of this Agreement shall be effective against a party against whom the
enforcement of such amendment, supplement, modification, waiver or termination would be asserted, unless such amendment, supplement, modification, waiver or termination was made in a writing signed by such party, provided that amendments
hereto shall be effective as against the Senior Creditors only if executed and delivered by the Collateral Agent (with the written consent of the Required Senior Creditors at such time). 

17. In case any one or more of the provisions confined in this Agreement, or any application thereof, shall be invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein, and any other application thereof, shall not in any way be affected or impaired thereby. 

18. (a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAW OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICTS OF LAWS PRINCIPLES. 
 (b) Any legal action or proceeding with respect to this Agreement may be brought in the
courts of the State of New York or of the United States of America 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 Party hereby irrevocably
accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each Party hereby further irrevocably waives any claim that any such court lacks personal jurisdiction over such Party, and
agrees not to plead or claim in any legal action or proceeding with respect to this Agreement or any other Credit Document to which such Party is a party brought in any of the aforesaid courts that any such court lacks personal jurisdiction over
such Party. Each Party 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 such Party
at its address set forth opposite is signature below, such service to become effective 30 days after such mailing. Each Party 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 to which such Party is a party that such service of process was in any way invalid or ineffective. Nothing herein shall affect the right of any of the
Senior Creditors to serve process in any other manner permitted by law or to commence legal proceedings or otherwise proceed against each Party in any other jurisdiction. 
 (c) EACH PARTY 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 BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (b) ABOVE AND HEREBY FURTHER
IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 (d) EACH PARTY HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY. 
 19. This Agreement shall bind and inure to the benefit of the Administrative Agent, the Collateral Agent, the
other Senior Creditors and each Party and their respective successors, permitted transferees and assigns. 

*    *    * 







 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Agreement as of the date first above written. 
  

			
	LEE ENTERPRISES, INCORPORATED
		
	By:	 	/s/ Carl G. Schmidt
	Name:	 	Carl G. Schmidt
	Title:	 	Vice President, Chief Financial Officer and 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 Intercompany Subordination Agreement] 







  

					
	 ST. LOUIS POST-DISPATCH LLC
  

By:   Pulitzer Inc., Managing Member

			
		 	By:	 	/s/ Carl G. Schmidt
		 	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 Intercompany Subordination Agreement] 







  

			
	PULITZER INC.
		
	By:	 	/s/ Carl G. Schmidt
	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



 [Signature page to Intercompany Subordination 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:	 	/s/ C. D. Waterman III
	Name:	 	C. D. Waterman III
	Title:	 	Secretary


 [Signature page to Intercompany Subordination Agreement] 







  

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

			
		 	By:	 	/s/ C. D. Waterman III
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary
	
	NVPC LLC
		
	By:	 	 NAPA VALLEY PUBLISHING CO.,
 Managing Member

			
		 	By:	 	/s/ C. D. Waterman III
		 	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:	 	/s/ C. D. Waterman III
		 	Name:	 	C. D. Waterman III
		 	Title:	 	Secretary
	
	 HOMECHOICE, LLC
 SHTP LLC

		
	By:	 	 PULITZER NEWSPAPERS, INC.,
 Managing Member

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

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


 [Signature page to Intercompany Subordination Agreement] 







  

					
	NLPC LLC
		
	 By:
	 	 NORTHERN LAKES PUBLISHING CO.,
 Managing Member

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


  

					
	HSTAR LLC
		
	By:	 	 PANTAGRAPH PUBLISHING CO.,
 Managing Member

			
		 	By:	 	/s/ C. D. Waterman III
		 	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 Intercompany Subordination Agreement] 







  

			
	 WILMINGTON TRUST, NATIONAL
 ASSOCIATION, as Collateral Agent

		
	By:	 	/s/ Joshua G. James
		 	 Title: Joshua G. James

		 	          Banking Officer


 [Signature page to Intercompany Subordination Agreement]