Hedge fund returns to court in battle to buy Lee Enterprises

Published February 22, 2022 2:24 pm

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — The hedge fund trying to buy newspaper publisher Lee Enterprises has returned to court. It is seeking to settle a dispute over the way the votes for two longtime board members should be counted next month at the company’s annual meeting. Alden Global Capital already lost one lawsuit in the takeover battle. Now it wants the court to decide how many votes Lee’s chairman and its lead independent director need to be re-elected to the board. Lee rejected Alden’s $141 million offer to buy the publisher of the St. Louis Post-Dispatch, Buffalo News and dozens of other newspapers in December. Alden is already one of the nation’s largest newspaper owners.

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