Lee Enterprises (LEE)

[Timetravelerdos]

Looks like a very good deal for LEE and Berkshire Hathaway. Mary Junck, Lee’s chairman, said, “This is a compelling and transformative transaction for Lee. It both refinances our long-term debt on attractive terms and provides new revenue opportunities as well as operational synergies across an expanded portfolio.
The deal adds 31 local daily news publications to the company's holdings. Those include the Omaha World-Herald, Tulsa World, Richmond Times-Dispatch, Buffalo News and the Bryan-College Station Eagle, as well as the Tribune-Herald, which has served Waco since 1892.

Buffett, Berkshire Hathaway’s chairman and CEO, said, “My partner Charlie Munger and I have known and admired the Lee organization for over 40 years. They have delivered exceptional performance managing BH Media’s newspapers and continue to outpace the industry in digital market share and revenue

https://www.wacotrib.com/business/berkshire-hathaway-sells-trib-other-daily-newspapers-to-lee-enterprises/article_203402ab-305d-555a-b7e8-57b4edbc6874.html