The Hoffmann Family of Companies (HF Companies) has once again increased its share ownership in Lee Enterprises. As a result, it has amended its 13D filing to reflect this increase. Under Securities and Exchange Commission regulations, companies are required to disclose any increase in their share ownership of one percent or more. On October 31, 2024, HF Companies acquired an additional one percent stake, bringing its total ownership to 476,863 shares. Since then, the company has increased its ownership to 8.41% or 520,863 shares, making it the second-largest shareholder. HF Companies intends to continue growing its investment as market conditions present themselves.
“We continue to have strong confidence in Lee Enterprises’ management team. We believe they’re on the right digital migration path and reducing their exposure to legacy costs to build a sustainable business model,” stated Pason Gaddis, CEO of Hoffmann Media Group.
Lee Enterprises, the fourth-largest newspaper company in the U.S., operates in 26 states with 77 newspapers and over 350 weekly and specialty publications serving 73 markets nationwide. A merger between Hoffmann Media Group and Lee Enterprises would position the combined company as the third-largest newspaper entity in the country.
“HF Companies will continue to invest in Lee Enterprises. We are optimistic about the future of the newspaper industry and believe in the importance of strong, local papers that are an integral part of the fabric of the communities they serve,” said David Hoffmann, Chairman of Hoffmann Family of Companies.
For more information about the Hoffmann Family of Companies and its recent acquisitions, please visit HFCompanies.com.
About Hoffmann Media Group
Hoffmann Media Group, a privately held media company based in Southwest Florida, publishes a variety of print, online, mobile, and email publications. Over the past 15 years, our writers, designers and ad builders have earned over 200 awards from the Florida Press Association, Society of Professional Journalists and Florida Newspaper Advertising and Marketing Executives Association. The Florida Press Association has recognized us as the best in the state for content, consumer experiences and advertising services. Our flagship brands serve over 30 markets, offering premier digital advertising services, newspapers, and magazines across Florida, California, Michigan and beyond. For more information, visit hoffmannmediagroup.com.
About Hoffmann Family of Companies
Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 110 global brands, and employs 11,000 employees with businesses located in 30 countries and 400 locations around the world. Hoffmann Family of Companies’ verticals include Aviation, Agriculture, Financial Services, Hospitality, Business & Professional Services, Industrial, Manufacturing, Marine, Media & Marketing, Real Estate, and Transportation. For more information, visit HFCompanies.com.
Media Contact
Jessica Carruth
Director, Communications & PR
Jessica@HoffmannCreativeAgency.com
239.396.7474