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Billionaire David Hoffmann considers buying Lee Enterprises, parent of over 70 newspapers, to support local journalism.
Billionaire David Hoffmann is exploring the acquisition of Lee Enterprises, the parent company of over 70 newspapers across 26 states, including the Billings Gazette and Missoulian.
Hoffmann, who already owns nearly 10% of Lee's stock, aims to support and grow local news amid declining print revenue and $446 million in debt.
Lee Enterprises' stock rallied following the news, with the company stating it will evaluate Hoffmann's offer.
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El multimillonario David Hoffmann considera comprar Lee Enterprises, padre de más de 70 periódicos, para apoyar el periodismo local.