BlackRock has bought about 3.1 million shares of Lee
Enterprises stock, for a 5.5% share of the company, the Quad-City Times
reported, citing an SEC filing.
BlackRock, based in New York City , is the world’s biggest asset
manager.
BlackRock’s purchase follows other players’
buys of Lee stock.
In January, hedge fund Alden Global Capital’s
MNG Enterprises took a 5.9% stake in Iowa-based Lee. The buy came on the heels
of the Jan. 29 announcement that Lee is buying Warren Buffett’s BH Media Group
publications and The Buffalo News for $140 million in cash.
On Dec. 31, Franklin Mutual Advisers bought
around 4.35 million shares, or 7.4% of the company’s available stock, according
to an SEC filing dated Jan. 23.
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