Hoffmann Family of Companies acquires part of Lee Enterprises, former owner of Napa Valley Register
The Hoffmann Family of Companies announced Tuesday that it has purchased more than 5% of Lee Enterprises, the Napa Valley Register's former owner. The acquisition was reported to the U.S. Securities and Exchange Commission.
The Hoffmann Media Group, a part of HF Companies, purchased the Register and its sister publications on Sept. 30 from Lee Enterprises, which had owned the Register since 2005.
Currently "we own a little over 5% (of Lee stock) and plan to continue to buy the stock," David Hoffmann, the HF Companies chair, said in a telephone interview.
The purchase makes HF Companies one of the largest shareholders of Lee stock, he noted.
"We like the management of the company," said Hoffmann. "We like the company a lot. We plan over time to add to our position and have a very positive relationship with the (Lee) management."
In fact, "I hope we can buy the whole company or a big chunk of it," he added.
Lee Enterprises, the fourth-largest newspaper company in the U.S., operates in 26 states and owns 77 newspapers, including the St. Louis Post-Dispatch, which caught the attention of founder David Hoffmann.
"We see tremendous value in Lee Enterprises' portfolio and have great respect for the company's management team," he said. "This strategic investment enhances our positioning in the U.S. media space.
"Our goal is to continue growing our national media presence, ensuring local communities have access to quality journalism."
Pason Gaddis, CEO of Hoffmann Media Group, added: "Our investment in Lee Enterprises underscores our dedication to preserving and enhancing local journalism, enhancing our current portfolio. We believe that by investing in Lee and its management team, we can further our mission of delivering impactful stories and fostering community connections."
In 2005, Lee Enterprises acquired Pulitzer Inc., then the Register's parent company, for about $1.46 billion. In January 2020, Berkshire Hathaway sold its newspaper holdings to Lee for $140 million in cash, including 30 daily newspapers such as The Buffalo News and Omaha World-Herald. Consequently, Berkshire Hathaway became a debt holder of Lee with a $576 million, 25-year debt instrument.
Through its subsidiary Hoffmann Media Group, HF Companies has acquired several publications from Lee Enterprises, including the Register, St. Helena Star and Inside Napa Valley Magazine.
"These acquisitions have strengthened Hoffmann Media Group's commitment to local news and community engagement, aligning with its ongoing efforts to expand its media footprint and enhance local journalism across the U.S.," said the Tuesday announcement.
Based in Fort Myers, Florida, Hoffmann Media Group "combines a rich heritage of well-known newspapers with the latest in digital innovation," according to the statement.
"The company excels in creative storytelling and data-driven insights, producing engaging content that ignites meaningful discussions and builds lasting connections within the communities it serves. By leveraging digital advancements, Hoffmann Media Group offers dynamic advertising solutions and interactive experiences across websites, mobile apps and e-editions, consistently redefining multimedia engagement and setting new benchmarks for excellence."
You can reach reporter Jennifer Huffman at 707-256-2218 or
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