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Warren Buffett owns stock in Pantagraph parent

Tue, 05 Jun 2012 16:36:22 CDT
By: AP

Billionaire Warren Buffett's company now owns about 3.2 percent of stock in the Bloomington Pantagraph's parent company as Berkshire Hathaway Inc.'s newspaper holdings continue to grow. Buffett's Omaha-based company disclosed owning 1.66 million shares of Lee Enterprises stock after the Securities and Exchange Commission refused to let him keep the investment confidential. The SEC often lets Buffett conceal investment moves while he's making them because so many investors try to copy him. Last month Berkshire announced a deal to buy 63 newspapers from Media General Inc. for $142 million. And Buffett has said Berkshire may buy more newspapers in the future despite the challenges the industry faces. Lee, which also publishes the St. Louis Post Dispatch and the Decatur Herald and Review, is based in Davenport, Iowa.

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