By Associated Press
OMAHA, Neb. (AP) — 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.
This after successfully fighting off a hostile takeover from a different hedge fund.
Lee’s largest shareholder, Cannell Capital, this 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 Lee needs new board members and executives with experience running a digital publishing business.