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Warren Buffett discloses 3.2 percent stake in Lee Enterprises
June 5, 2012 / 9:27 PM / 5 years ago

Warren Buffett discloses 3.2 percent stake in Lee Enterprises

(Reuters) - Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N) has taken a small stake in Lee Enterprises (LEE.N), the latest in its string of investments in newspaper publishers in the United States.

According to an amended 13F filed with the U.S. Securities and Exchange Commission, Berkshire owns about 1.7 million shares of Lee Enterprises, or about 3.2 percent based on its latest shares outstanding.

The investment comes less than a month after Berkshire announced a deal to buy Media General Inc’s MEG.N newspapers for $142 million.

Berkshire already owns the Buffalo News and the Omaha World-Herald Co, and has a stake in the Washington Post Co WPO.N. The Media General deal also gives Berkshire a 16.9 percent stake in the newspaper publisher through share purchase warrants.

Newspaper chain Lee Enterprises, which recently refinanced its debt after filing for bankruptcy in December last year, publishes 48 daily newspapers including the St. Louis Post-Dispatch.

Its shares were up 26 percent in post-market trade, after closing at $1.15 on the New York Stock Exchange on Tuesday.

Reporting by Himank Sharma in Bangalore; Editing by Anil D'Silva

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