News publisher Lee faces renewed pressure from hedge funds
BPC Staff Apr 18, 2022 | 2:49 pm
<1 min read time
87 wordsAll Latest News, Banking and Finance, Retail and BusinessAssociated Press: Newspaper publisher Lee Enterprises is facing renewed pressure from a hedge fund to speed up its transition to digital publishing and consider adding new digital-savvy leaders to its board after successfully fighting off a hostile takeover from a different hedge fund. Lee’s largest shareholder, Cannell Capital, last week disclosed buying nearly 20,000 more of the company’s shares, giving it a 9.1% stake. The fund’s head, Carlo Cannell, said he thinks Davenport-based Lee needs new board members and executives with experience running a digital publishing business.
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