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Warren Buffett increases stake in Lee Enterprises
By JIM GALLAGHER St. Louis Post-Dispatch
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Warren Buffett’s Berkshire Hathaway Inc. has nearly doubled its stake in newspaper publisher Lee Enterprises, the parent company of the Casper Star-Tribune and St. Louis Post-Dispatch, among others.
Lee’s shares jumped nearly 20 percent on the news Wednesday, closing at $1.59, up 26 cents.
In a filing with the Securities and Exchange Commission on Tuesday, Omaha, Neb.-based Berkshire Hathaway disclosed that its stake in Lee Enterprises has grown to 3.23 million shares, about 6 percent of shares outstanding. In June, Berkshire’s ownership stake in Lee totaled 1.7 million shares, according to regulatory filings.
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