Warren Buffett is on a newspaper binge, or at least is sampling the wares. On Tuesday, his investment company, Berkshire Hathaway, disclosed that it owns 1.66 million shares, a 3% stake, in Lee Enterprises, which publishes the St. Louis Post-Dispatch and the Lincoln Journal Star in Nebraska, among 47 daily newspapers and 300 weekly and community papers. Buffett reportedly acquired the stake by buying $85 million of Lee’s debt from Goldman Sachs at $0.65 on the dollar in November of last year. Berkshire wanted to keep its ownership of Lee stock confidential, but was forced to disclose it by the Securities and Exchange Commission. After the disclosure, Lee’s stock increased from $1.15 at the close of business Tuesday to $1.39 at…
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