Seasoned Real Estate Expert to Lead Company-Owned Brokerage OperationsNEW YORK, April 21, 2025 /PRNewswire/ -- Sotheby's International Realty today announced that seasoned real estate expert Mary Lee Blaylock has joined the brand as president of brokerage. Responsible for leading its company-owned brokerage operations, she will oversee 48 brokerage offices nationally that support more than 2,300 affiliated agents responsible for $20B in annual sales volume in 2024. Blaylock will focus on the development and ...

Hong Kong, March 31, 2025 (GLOBE NEWSWIRE) -- Wang and Lee Group, Inc. (NASDAQ: WLGS) today announced its strategic investment in Nasdaq-listed TROOPS, Inc. (NASDAQ: TROO). This collaboration aims to unlock synergies by integrating Wang and Lee's cutting-edge AI-driven advertising media, smart home devices, and blockchain-powered token rewards into TROOPS' expansive infrastructure. The proposed investment will enable Wang and Lee to deploy its AI-driven digital advertising platforms and IoT-enabled smart ho ...

Innovative partnership with City University of Hong Kong paves the way for sustainable urban solutions HONG KONG, March 28, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (Nasdaq: ​WLGS) (the “Company”) today announced the successful installation of the first ever developed and made in Hong Kong smart flooring system capable of converting kinetic energy from human footsteps into usable electricity. This milestone achievement, developed in collaboration with City University of Hong Kong (“CityU”), marks a t ...

Core Viewpoint - Lee Enterprises has extended its shareholder rights plan for one year in response to an unsolicited acquisition interest from Hoffmann Family of Companies, ensuring fair treatment for all shareholders during potential takeover discussions [1][2][3]. Group 1: Rights Plan Extension - The Board of Directors unanimously approved the extension of the Rights Plan's expiration date from March 27, 2025, to March 27, 2026 [1][6]. - The Rights Plan was initially adopted in March 2024 to protect against a significant accumulation of shares by a competing digital publishing business [2][3]. - The extension aims to allow shareholders to realize long-term value and ensure fair treatment in any proposed takeover [3][6]. Group 2: Hoffmann's Acquisition Interest - Hoffmann has accumulated approximately 9.8% of Lee's outstanding common stock and expressed interest in acquiring the company [9]. - On March 20, 2025, Hoffmann publicly announced its interest in acquiring Lee but did not specify any acquisition price or material terms [9]. - The Board is open to reviewing any credible acquisition proposals and has offered to enter into a confidentiality agreement with Hoffmann to facilitate discussions [4][5]. Group 3: Company Overview - Lee Enterprises is a major subscription and advertising platform, providing local news and information through daily newspapers and digital products across 72 markets in 25 states [8]. - The company is committed to delivering valuable local news and information to the communities it serves [8].

Core Insights - Wang & Lee Group, Inc. has formed a strategic partnership with HK Golden, Inc. to integrate ad-driven content into Linko's AI-powered smart home devices, allowing users to earn blockchain tokens for ad engagement, thereby enhancing ESG impact and consumer value [1][2][3] Group 1: Tokenized Ad Engagement - Users of Linko's devices will earn W&L-issued blockchain tokens for every minute spent interacting with HKGolden's ads, which can be redeemed for device upgrades, premium subscriptions, or cash [2] - The partnership ensures transparent tracking of ad engagement and token distribution through W&L's blockchain ledger [2] Group 2: ESG-Driven Synergy - A portion of the ad revenue generated will fund W&L's solar crypto-mines, linking user engagement to renewable energy growth and supporting global decarbonization goals [3] - This initiative promotes sustainable behavior while rewarding users for their engagement with ads [3] Group 3: Leadership Commentary - The CEO of Wang & Lee Group emphasized the transformation of passive ad consumption into active participation in the green economy, benefiting both users and the environment [4] - Representatives from Linko and HK Golden highlighted the enhanced value of devices and the pioneering nature of the alliance in redefining media monetization [4] Group 4: Strategic Benefits - Users can earn tokens through ad engagement, energy savings, and sustainable actions, while advertisers benefit from precise AI targeting, leading to higher ROI [5] - The partnership positions Wang & Lee as a leader in combining AI smart homes, blockchain rewards, and ESG-aligned media partnerships [5] Group 5: Projected Impacts - Anticipated user growth in Linko device adoption is expected post-integration, driven by the incentive of token rewards [6] - The alliance is projected to reduce household carbon footprints among participating users [6]

Core Insights - Lee Enterprises has launched a suite of AI-powered solutions called AmplifiedDigital.AI aimed at supporting local businesses in enhancing operations and customer connections in a digital marketplace [1][2]. Group 1: AI Solutions Overview - The AI solutions are designed to provide local businesses with essential tools for success, including data-driven insights and personalized marketing capabilities [2]. - The first product, A.I. Enablement, focuses on transforming businesses through various features that address marketing inefficiencies and customer engagement challenges [3][4]. Group 2: Commitment to Local Businesses - Lee Enterprises emphasizes its mission to foster economic growth and support local entrepreneurs, highlighting the importance of local businesses as the backbone of communities [3][4]. - The company aims to create opportunities and drive results through its AI solutions, which are not solely technology-focused but also geared towards tangible business success [4]. Group 3: Features of AI Solutions - Key features of the AI solutions include enhanced visibility in AI search engines, rapid content creation, distribution through local news websites, educational resources for leveraging AI, AI-enhanced social media tools, and next-generation website optimization [5].

Core Insights - Lee Enterprises has launched a suite of AI-powered solutions called AmplifiedDigital.AI aimed at supporting local businesses in enhancing operations and customer connections in a digital marketplace [1][2][3] Group 1: AI Solutions Overview - The AI solutions are designed to provide local businesses with essential tools for success, including data-driven insights and personalized marketing capabilities [2] - The first product, A.I. Enablement, focuses on transforming businesses through various features [2][3] Group 2: Support for Local Businesses - The launch emphasizes Lee Enterprises' commitment to fostering economic growth and supporting local entrepreneurs by addressing marketing inefficiencies and customer engagement challenges [3][4] - The company aims to create opportunities and drive results for local businesses, which are considered the backbone of communities [4] Group 3: Features of AI Solutions - A.I. Visibility enhances visibility in top-performing AI search engines, ensuring content is indexed and featured prominently [5] - Content Creation allows for the generation of sponsored articles in seconds [5] - Content Distribution utilizes Lee's local news websites and other AI engines for effective outreach [5] - Education is provided through a comprehensive library to leverage AI for business growth [5] - AI Social offers AI-enhanced social media tools [5] - SmartSites.AI represents a next-generation approach to website optimization [5]

Core Insights - Lee Enterprises Inc has partnered with VeeFriends to produce original comics that will be published weekly in its publications, marking a significant content expansion strategy [1][5] - VeeFriends, created by Gary Vaynerchuk, features a universe of 251 characters aimed at connecting with audiences through storytelling and positivity [2][6] - The comics will debut on February 23 and will include characters like Brave Bison and Empathy Elephant, designed to inspire and entertain readers [3][6] Company Strategy - Lee Enterprises is enhancing reader experiences through strategic content partnerships, with this collaboration being a key example of delivering premium content [5][6] - The partnership aims to engage audiences by integrating interactive elements, such as live drawing events and a Readers' Choice feature for fan contributions [4][6] Industry Context - The collaboration reflects a growing trend in the media industry to incorporate diverse content formats, such as comics, to attract and retain subscribers [5][6] - VeeFriends' focus on community-driven experiences and storytelling aligns with current consumer preferences for engaging and relatable content [2][7]

Core Insights - Lee Enterprises Inc has partnered with VeeFriends to produce original weekly comics that will be published in Lee's publications starting February 23, 2025 [1][3] - VeeFriends is an entertainment company created by Gary Vaynerchuk, featuring a universe of 251 characters aimed at inspiring and connecting with audiences [2][7] - The partnership aims to enhance reader experiences through engaging content, leveraging the popularity of comics in both print and digital formats [5][6] Company Overview - Lee Enterprises operates in 72 markets across 25 states, focusing on local news, information, and advertising [1][7] - The company emphasizes quality journalism and digital innovation, aiming to deliver valuable content and advertising solutions [7] Partnership Details - The comics will feature characters like Brave Bison, Empathy Elephant, and Fearless Fairy, who use their superpowers to help humanity [3] - To celebrate the launch, live streaming events called "Draw Offs" will be held, allowing audiences to see the creative process and submit their own comic contributions [4] Strategic Goals - The collaboration with VeeFriends is part of Lee Enterprises' strategy to provide world-class content partnerships that enhance reader engagement [5][6] - The partnership is expected to bring positivity and inspiration to audiences, showcasing VeeFriends' creativity in cartooning [6]

Revenue Performance - Total operating revenue decreased by $11.1 million, or 7.1%, to $144.6 million in the 2025 Quarter compared to the 2024 Quarter [64]. - Digital subscription revenue increased by 10.8% to $21.6 million, while print subscription revenue decreased by 16.3% to $43.4 million [66]. - Digital-only subscribers grew by 5% to a total of 774,000, contributing to a total subscription revenue of $65.0 million, down 8.9% from the previous year [66]. - Digital advertising and marketing services revenue totaled $46.7 million, a slight increase of 0.6%, representing 70.2% of total advertising and marketing services revenue [65]. - Total digital revenue, including digital advertising, subscription, and services, reached $73.4 million, an increase of 3.5% and representing 50.8% of total operating revenue [68]. Operating Expenses and Losses - Total operating expenses were $149.0 million, a decrease of 0.2% compared to the 2024 Quarter, with compensation expenses rising by 1.0% [70]. - The company reported an operating loss of $3.4 million in the 2025 Quarter, compared to an operating income of $7.8 million in the 2024 Quarter [75]. - Net loss was $16.2 million, with diluted loss per share of $2.80, compared to net income of $1.2 million and diluted earnings per share of $0.12 in the previous year [82]. - Adjusted EBITDA for the three months ended December 29, 2024, was $7.609 million, a decrease of 59.3% from $18.649 million in the prior year [89]. - Operating expenses for the three months ended December 29, 2024, were $149.036 million, slightly down from $149.386 million in the same period of 2023 [89]. Cash Flow and Liquidity - Cash required by operating activities totaled $7.3 million in the 2025 Period, a decrease of $7.4 million compared to cash provided by operating activities of $0.1 million in the 2024 Period [92]. - Cash provided by investing activities increased to $3.9 million in the 2025 Period from $2.1 million in the 2024 Period, driven by proceeds from the sale of non-core real estate [94]. - The company expects capital expenditures to total approximately $10.0 million in 2025, funded by internally generated funds [95]. - The company's liquidity, consisting of cash on the balance sheet, totaled $6.1 million on December 29, 2024 [99]. - No cash was required for financing activities in the 2025 Period, compared to $1.4 million in the 2024 Period, primarily for debt reduction [97]. Interest and Debt Management - Interest expense increased by 1.5% to $10.3 million, with a weighted average cost of debt of 9% [77]. - The company experienced a decrease in operating results of $13.6 million, adjusted for non-working capital items, partially offset by a $6.2 million increase in working capital [92]. - The company anticipates that all interest and principal payments due in the next twelve months will be satisfied by existing cash and cash flows [99].