Business

Lee Enterprises buying Illinois paper, other publications

The Associated Press
Posted: Jun. 19, 2017 7:00 am Updated: Jun. 19, 2017 10:45 am

DAVENPORT, Iowa (AP) Iowa-based Lee Enterprises says it's buying the assets of the Dispatch-Argus daily newspaper across the Mississippi River in Moline, Illinois.

The deal announced Monday includes QCOnline.com and related publications serving Moline, Rock Island and other western Illinois communities. Lee says it's paying Kankakee, Illinois-based Small Newspaper Group $7.15 million, including an adjustment for working capital. The deal is expected to close later this month.

Lee President and CEO Kevin Mowbray says the Dispatch-Argus "is a perfect strategic fit for Lee," given that the newspaper is near Lee newspapers across the river in Davenport and Muscatine.

Davenport, Iowa-based Lee owns daily newspapers, other publications and digital products in 21 states.

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