Buffett's Company Discloses Lee Enterprises Stake

By: Associated Press Email
By: Associated Press Email

Billionaire Warren Buffett's company now owns about 3.2 percent of Lee Enterprises' stock as Berkshire Hathaway Inc.'s newspaper holdings continue to grow.

Buffett's Omaha-based company disclosed owning 1.66 million shares of Lee's stock on Tuesday because the Securities and Exchange Commission refused to let him keep this investment confidential.

The SEC often lets Buffett conceal investment moves while he's making them because so many investors try to copy him.

Last month Berkshire announced a deal to buy 63 newspapers from Media General Inc. for $142 million. And Buffett has said Berkshire may buy more newspapers in the future despite the challenges the industry faces.

Lee is a Davenport, Iowa, based publisher of the St. Louis Post-Dispatch, Lincoln Journal Star and other newspapers.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WOWT NBC Omaha 3501 Farnam Street Omaha, NE 68131 (402) 346-6666 sixonline@wowt.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 157316865 - wowt.com/a?a=157316865