The Hoffmann Family of Companies (HF Companies) announced a significant milestone in its growth strategy today, revealing an increased ownership stake in Lee Enterprises Inc. In alignment with the Securities and Exchange Commission (SEC) guidelines, HF Companies filed a 13D amendment to disclose this advancement. The company’s share in Lee Enterprises, a prominent media company, places HF Companies among its top shareholders, closely trailing Quint Digital, the largest stakeholder.
Driven by a focused growth vision and backed by financial insights from JPMorgan Chase, HF Companies intends to further expand its position in Lee Enterprises as market dynamics evolve. According to Bloomberg News, the Jerrilyn M. Hoffmann Revocable Trust reported a 6.7% stake in Lee Enterprises, translating to an investment value of approximately $6.85 million. This recent development follows a prior 13D filing on October 17, 2024, which indicated a 5.22% holding in the company. Since the October 17 filing, Lee Enterprises has seen a notable 21% increase in share value, an impressive rise in contrast to the S&P 500’s modest 0.6% decline over the same period.
Lee Enterprises, the fourth-largest newspaper conglomerate in the United States, boasts a portfolio spanning 26 states with 77 newspapers, including notable publications such as the St. Louis Post-Dispatch, a paper that first sparked the interest of HF Companies’ founder, David Hoffmann. Through this latest acquisition, HF Companies demonstrates its confidence in Lee Enterprises and its commitment to strengthening its investment in an evolving media landscape.
About Hoffmann Media Group
Hoffmann Media Group, a privately owned media enterprise in Southwest Florida, is recognized for its high standards in content and advertising services. Over the past 15 years, the group has garnered more than 200 awards from reputable bodies, including the Florida Press Association and Society of Professional Journalists. With a presence across 30 markets, Hoffmann Media Group’s diverse media offerings include newspapers, magazines, and digital advertising services in Florida, California, Michigan, and beyond.
About Hoffmann Family of Companies
The Hoffmann Family of Companies, a multi-vertical private equity firm, comprises over 110 brands worldwide, spanning sectors from hospitality to aviation. Employing 11,000 people across 400 locations in 30 countries, HF Companies continues to set a standard for growth and innovation. With interests across various industries, HF Companies is poised for expansion through strategic acquisitions and investment opportunities.
For more on Hoffmann Family of Companies’ strategic developments and recent acquisitions, visit HFCompanies.com.
Collaborator Credits: Jessica Carruth | Hoffmann Family of Companies
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