In wake of loss reports, declining stock value, and a cyber attack, the largest owner of Lee Enterprises stock, Hoffmann Family of Companies, has announced they own nearly 10% of Lee, parent company of the Martinsville Bulletin, The Roanoke Times, The Danville Register & Bee, the Greensboro News & Record, the Winston-Salem Journal and many others, and are interested in purchasing controlling interest in the company. Lee said they would entertain the conversation.
Conversations between the companies have been ongoing since Hoffmann Cos. first invested in Lee Enterprises in October, Hoffmann told the Wall Street Journal. It now owns just under 10% of Lee’s shares. He described the talks as friendly and said Thursday’s letter wasn’t a surprise for Lee, but he hasn’t gotten a response to the letter yet. He declined to share how much he would offer to acquire Lee.
