Lee Enterprises acquires South Dakota and Montana papers from USA TODAY Co.

Lee Enterprises (NASDAQ: LEE) and USA TODAY Co. (NYSE: TDAY) announced an agreement to exchange newspaper properties, effective immediately, according to a press release issued Sept. 28, 2026.

Lee Enterprises will acquire four publications from USA TODAY Co.: the Sioux Falls Argus Leader, the Aberdeen American News (including the Farm Forum), the Watertown Public Opinion in South Dakota, and the Great Falls Tribune in Montana.

As part of the same agreements, the two companies will dissolve TNI Partners, a joint venture through which they jointly operated the Arizona Daily Star. USA TODAY Co. will assume full ownership and operations of that publication. The company already owns The Arizona Republic in Arizona.

Lee Enterprises currently operates publications in Montana including the Billings Gazette, Independent Record, Missoulian, The Montana Standard, and Ravalli Republic, as well as the Rapid City Journal in South Dakota.

"We're honored to deepen our commitment to the communities of Montana and South Dakota," said Nathan Bekke, Lee's President and Chief Executive Officer.

Michael A. Anastasi, Senior Vice President of Local News at USA TODAY Network, said the transactions reflect "a strategic decision to best serve these communities and support the future of local journalism."

Lee Enterprises operates 193 owned and managed brands across 28 states.

You May Also Be Interested In

• Tesla stock up as automotive gross margin improves, free cash flow turns positive
• Integer Holdings stockholders approve KKR acquisition merger agreement
• Getty Images and Lee Enterprises form content licensing partnership