A Florida billionaire with a fondness for local news is looking to build a newspaper giant by potentially scooping up publishers Lee Enterprises and DallasNews.
David Hoffmann, who last month disclosed a 5.2% stake in Lee Enterprises, has raised that interest to 8.7%, making him the Davenport, Iowa, company’s second-largest shareholder.
Hoffmann also disclosed a new 5% stake in DallasNews, making him one of the Dallas Morning News publisher’s biggest investors.
In an interview Friday, Hoffmann said he aims to create the second-largest newspaper group in America behind Gannett, and that a combination of his Hoffmann Media Group, Lee Enterprises and DallasNews would do just that.
