Hoffmann tells WSJ interested in buying Lee Enterprises, DallasNews

David Hoffmann, a Florida billionaire who last month disclosed a 5.2% stake in Lee Enterprises (LEE), has raised that interest to 8.7%, making him the company’s second-largest shareholder, reported The Wall Street Journal’s Colin Kellaher. Hoffmann also disclosed a new 5% stake in DallasNews (DALN), making him one of the Dallas Morning News publisher’s biggest investors, and in an interview Friday, Hoffmann said he aims to create the second-largest newspaper group in America behind Gannett (GCI), noting that a combination of his Hoffmann Media Group, Lee Enterprises and DallasNews would do just that. Hoffmann said he has held friendly talks with Lee’s management, but that he hasn’t yet made contact with DallasNews, the Journal noted.