Pulitzer (NYSE:PTZ)
Historical Stock Chart
From Aug 2019 to Aug 2024
![Click Here for more Pulitzer Charts. Click Here for more Pulitzer Charts.](/p.php?pid=staticchart&s=NY%5EPTZ&p=8&t=15)
Pulitzer 10-K Filing Delayed
ST. LOUIS, March 14 /PRNewswire-FirstCall/ -- Pulitzer Inc. (NYSE:PTZ) today
announced that it is filing a Form 12b-25 with the Securities and Exchange
Commission for a 15-day extension of the March 11, 2005 filing deadline for its
Annual Report on Form 10-K for the fiscal year ended December 26, 2004.
The Company is reviewing the classification of one item in the Company's
Consolidated Statements of Cash Flows for the fiscal years ended December 2004,
2003 and 2002. The item under consideration relates to the classification of
discretionary contributions to the Company's pension and post-retirement
medical benefit trusts in the Consolidated Statements of Cash Flows.
The Company's practice has been to classify discretionary contributions to its
pension and post-retirement medical benefit trusts as a component of Cash Flows
From Investing Activities. The Company is currently reviewing whether these
discretionary contributions should be classified as a component of Cash Flows
From Operating Activities. For the fiscal years ended December 2003 and 2002,
the discretionary contributions were, respectively, $44.0 million and $28.1
million. The Company has classified its contributions necessary to meet
current operating costs or minimal funding levels of its pension and
post-retirement medical benefit trusts as a component of Cash Flows From
Operating Activities.
If the Company determines that the discretionary contributions should be
classified as a component of Cash Flows From Operating Activities, the Company
would be required to restate the Consolidated Statements of Cash Flows for the
fiscal years ended December 2003 and 2002.
The Company recently announced that it had agreed to be acquired by Lee
Enterprises, Incorporated (NYSE:LEE). The Company does not expect the
transaction, which is scheduled to close in the second quarter of calendar
2005, to be impacted by today's announcement.
Pulitzer Inc., through various subsidiaries and affiliated entities, is engaged
in newspaper publishing and related new media activities. The Company's
newspaper operations include two major metropolitan dailies, the St. Louis
Post-Dispatch and the Arizona Daily Star in Tucson, Ariz., and, through its
Pulitzer Newspapers, Inc. (PNI) subsidiary, 12 other dailies and more than 75
weekly newspapers, shoppers, and niche publications. The PNI dailies are The
Pantagraph, Bloomington, Ill.; The Daily Herald, Provo, Utah; the Santa Maria
Times, Santa Maria, Calif.; The Napa Valley Register, Napa, Calif.; The World,
Coos Bay, Ore.; The Sentinel, Hanford, Calif.; the Arizona Daily Sun,
Flagstaff, Ariz.; the Daily Chronicle, DeKalb, Ill.; The Garden Island, Lihue,
Hawaii; the Daily Journal, Park Hills, Mo.; The Lompoc Record, Lompoc, Calif.;
and The Daily News, Rhinelander, Wis. The Company's newspaper operations also
include the Suburban Journals of Greater St. Louis, a group of 36 weekly papers
and various niche publications.
The Company's new media and interactive initiatives include STLtoday.com in St.
Louis, azstarnet.com in Tucson, and Web sites for all of its other dailies.
Pulitzer Inc. is the successor to the company originally founded by Joseph
Pulitzer in St. Louis in 1878. For more information, visit our Web site at
http://www.pulitzerinc.com/ or contact James V. Maloney, Director of
Shareholder Relations at Pulitzer Inc., at (314) 340-8402.
NOTE:
This press release contains forward-looking statements based on current
management expectations. Numerous factors may cause events to differ
materially from those anticipated in the forward-looking statements including
regulatory and other factors. Many of the factors that will determine those
events are beyond our capability to control or predict. These statements are
subject to risks and uncertainties and therefore actual events may differ
materially. Readers should not place undue reliance on such forward-looking
statements which reflect management's view only as of the date hereof. We
undertake no obligation to revise or update any forward-looking statements, or
to make any other forward-looking statements, whether as a result of new
information, future events or otherwise.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
The proposed transaction will be submitted to Pulitzer's stockholders for their
consideration, and Pulitzer will file with the SEC a proxy statement to be used
to solicit the stockholders' approval of the proposed transaction, as well as
other relevant documents concerning the proposed transaction. STOCKHOLDERS OF
PULITZER ARE URGED TO READ THE PROXY STATEMENT REGARDING THE PROPOSED
TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY
BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS,
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. A free copy of the proxy
statement, as well as other filings containing information about Pulitzer, may
be obtained at the SEC's Internet site (http://www.sec.gov/). Copies of the
proxy statement and the SEC filings that will be incorporated by reference in
the proxy statement can also be obtained, without charge, by directing a
request to James V. Maloney, Secretary, Pulitzer Inc., 900 North Tucker
Boulevard, St. Louis, Missouri 63101.
PARTICIPANTS IN THE SOLICITATION
Pulitzer and its directors and executive officers and other members of
management and employees may be deemed to be participants in the solicitation
of proxies from the stockholders of Pulitzer in connection with the proposed
transaction. Information regarding Pulitzer's directors and executive officers
is available in Pulitzer's proxy statement for its 2004 annual meeting of
stockholders, which was filed with the SEC on April 2, 2004. Additional
information regarding the interests of such potential participants will be
included in the proxy statement and the other relevant documents filed with the
SEC when they become available.
DATASOURCE: Pulitzer Inc.
CONTACT: James V. Maloney of Pulitzer Inc., +1-314-340-8402
Web site: http://www.pulitzerinc.com/