Shares of Lee Enterprises Surge After Buffett Buys Stake

By: The New York Times

Shares of Lee Enterprises rose nearly 16 percent on Wednesday after Warren E. Buffett’s Berkshire Hathaway disclosed that it had taken a 3.2 percent stake in the company, the latest in its string of investments in newspaper publishers in the United States.

According to a filing with the Securities and Exchange Commission late Tuesday, Berkshire owns about 1.7 million shares of Lee Enterprises, the publisher of 48 daily newspapers including The St. Louis Post-Dispatch and The Billings Gazette in Montana.

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