Struggling newspaper chain Lee Enterprises disclosed yesterday that CEO Mary Junck acquired 500,000 shares of stock at the purchase price of $0. The disclosure comes a week after Lee reported a third-quarter loss of 3 cents per share.
Junck received a $500,000 bonus in March for taking the chain out of bankruptcy. In 2011, Lee execs received 30% compensation increases — at the same time they were laying off journalists at their newspapers.
Junck is also Associated Press board chairman.