Lee Enterprises completes its acquisition of Berkshire Hathaway’s newspaper and magazine operations under revised terms.
“We are pleased to complete this compelling and transformative transaction, which enhances Lee’s position strategically, operationally and financially. This transaction reinforces our conviction in the value and power of local news, adding 31 publications with deep roots in their communities, enabling Lee to serve even more readers and advertisers. Further, this transaction allowed Lee to address our long-term debt on attractive terms while deepening our relationship with Berkshire Hathaway - now our sole lender - to enable more flexibility as we continue to invest in our business with a digital-first mindset.”
Mary Junck, Lee Enterprises Chairman