Edgar Filing: LEE ENTERPRISES INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SCHERMER GREGORY P

2. Issuer Name and Ticker or Trading Symbol
LEE ENTERPRISES INC [LEE ENT]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	__X__ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Vice Pres./Interactive Media

(Last)

(First)

(Middle)

C/O LEE ENTERPRISES INCORPORATED, 201 N MAIN STREET STE 600

3. Date of Earliest Transaction (Month/Day/Year)
10/19/2004

(Street)

DAVENPORT, IA 52801

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/19/2004		M		190	A	$ 34.55	21,240 ⁽¹⁾	D
Common Stock	10/19/2004		S		190	D	$ 46.22	21,050	D
Common Stock								2,000	I ⁽²⁾	By Son in Trust
Class B Common Stock								512,970	D
Class B Common Stock								1,163,966	I ⁽²⁾	By Schermer Investment Partnership
Class B Common Stock								6,000	I ⁽²⁾	By Spouse
Class B Common Stock								6,000	I ⁽²⁾	By Son in Trust
Class B Common Stock								4,000	I ⁽²⁾	By Daughter in Trust
Class B Common Stock								55,010	I	By Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy)

$ 21.5

10/27/1996

300

10/27/1997⁽³⁾

10/27/2006

Common Stock

1,200

$ 0

300

Employee Stock Option (Right to Buy)

$ 26.625

11/03/1997

350

11/03/1998⁽³⁾

11/03/2007

Common Stock

1,400

$ 0

350

Employee Stock Option (Right to Buy)

$ 27.188

11/15/1998

1,000

11/15/1999⁽³⁾

11/15/2008

Common Stock

4,000

$ 0

1,000

Employee Stock Option (Right to Buy)

$ 29.938

11/09/1999

7,500

11/09/2000⁽³⁾

11/09/2009

Common Stock

7,500

$ 0

7,500

Employee Stock Option (Right to Buy)

$ 25.938

11/13/2000

7,500

11/13/2001⁽³⁾

11/13/2010

Common Stock

7,500

$ 0

7,500

Employee Stock Option (Right to Buy)

$ 35.46

11/14/2001

12,000

11/14/2002⁽³⁾

11/14/2011

Common Stock

12,000

$ 0

12,000

Employee Stock Option (Right to Buy)

$ 32.49

11/13/2002

12,000

11/13/2003⁽³⁾

11/13/2012

Common Stock

12,000

$ 0

12,000

Employee Stock Option (Right to Buy)

$ 34.55

10/19/2004

190

04/24/2004

10/31/2004

Common Stock

190

$ 0

Employee Stock Option (Right to Buy)

$ 34.55

04/24/2003

258

04/24/2004

11/07/2005

Common Stock

258

$ 0

258

Employee Stock Option (Right to Buy)

$ 43.25

11/12/2003

7,000

11/12/2004⁽³⁾

11/21/2013

Common Stock

7,000

$ 0

7,000

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SCHERMER GREGORY P C/O LEE ENTERPRISES INCORPORATED 201 N MAIN STREET STE 600 DAVENPORT, IA 52801	X	X	Vice Pres./Interactive Media

Signatures

Edmund H. Carroll, Limited POA		10/20/2004
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Includes 43 shares purchased under the Issuer's ESPP through payroll deduction and dividend reinvestment since the filing of Reporting Person's last Form 4.
(2)	The Reporting Person disclaims beneficial ownership of these securities, except to the extent of the Reporting Person's pecuniary interest therein.
(3)	These securities are exercisable as follows: 30% upon the first anniversary date of the grant; 60% upon the second anniversary date of the grant; and 100% upon the third anniversary date of the grant.

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