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Billionaire David Hoffmann considers buying Lee Enterprises to save local newspapers.
Billionaire David Hoffmann is exploring the acquisition of Lee Enterprises, a company owning over 70 newspapers across 26 states.
In a letter to Lee's CEO, Hoffmann expressed his interest in preserving and growing local news outlets, emphasizing their vital role in communities.
Lee Enterprises, facing declining print revenue and $446 million in debt, plans to evaluate any specific offer from Hoffmann.
His company already owns about 10% of Lee's shares.
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El multimillonario David Hoffmann considera comprar Lee Enterprises para salvar los periódicos locales.