HF Companies has expressed its intention to become Lee’s largest shareholder. Currently, Hoffmann is the second-largest shareholder, behind Quint Digital Limited.
Lee owns the St. Louis Post-Dispatch, Omaha World-Herald, and The Buffalo News, as well as other daily newspapers and 350 weekly and specialty publications that serve 72 local markets across America. By combining Lee and Hoffmann Media Group assets, HF Companies would own the second-largest newspaper group in the country.
"We have and will continue to purchase shares in the company as market conditions present themselves,” said David Hoffmann, Chairman of HF Companies, from his St. Louis residence. "We believe in newspapers, local journalism, and digital media. We have been and continue to be successful throughout the country with our media assets. I'm not going away, and we will continue to invest. We feel local journalism is a part of the fabric of America and will invest to protect it and help it prosper."
“The management team at Lee is doing a great job and our interest in investing in Lee is to help them grow and continue to serve local markets,” said Pason Gaddis, CEO of Hoffmann Media Group.
Hoffmann Family of Companies' ongoing investment in Lee underscores its commitment to preserving and enhancing local journalism. The company aims to leverage its media investment to support and grow local news outlets across the United States.
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.
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. (20 Newspapers, Magazines, and Media Investments). For more information, visit www.hoffmannmediagroup.com.
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