Lee Enterprises (NYSE: LEE) is a publicly traded American media company. It publishes 54 daily newspapers in 23 states, and more than 300 weekly, classified, and specialty publications. Lee Enterprises was founded in 1890 by Alfred Wilson Lee and is based in Davenport, Iowa.
The company also provides online services, including websites supporting its daily newspapers and other publications. Lee also owns 82.5% of TownNews.com, an Internet service company. The company offers commercial printing services to its customers.
Lee Enterprises is currently the fourth largest newspaper group in the United States of America. The company acquired Howard Publications (16 daily newspapers) for $694 million in 2002 and Pulitzer, Inc. (14 daily, over 100 non-daily), for $1.5 billion in 2005.
The company filed for Chapter 11 bankruptcy in 2011. It emerged from bankruptcy less than two months later.
In April 2012, Warren Buffett took a stake in Lee Enterprises (through Berkshire Hathaway Inc.), buying $85 million of the company's debt from Goldman Sachs Group.
In June 2012, Berkshire Hathaway filed an amended Form 13F (13F-HR/A) for the period ending March 31, 2012. This document disclosed that Berkshire accumulated $2,119,000 or 1,655,125 common shares of Lee Enterprises, or a 3.2 percent stake. The document noted that the confidentiality of this transaction was requested but denied by the SEC on May 25, 2012.
Read more about Lee Enterprises: Lee Newspapers, Television
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