David Hoffmann, a Florida investor worth $1.6 billion, who has purchased more than 5 percent of Lee Enterprises, one of America’s largest newspaper companies, wants to buy up a controlling stake.

Florida billionaire David Hoffmann has raised his stake in Lee Enterprises (NASDAQ:LEE) to 8.7% from a 5.2% stake and also disclosed a new 5% stake in DallasNews (NASDAQ:DALN), in a bid to create ...

David Hoffmann, who last month disclosed a 5.2% stake in Lee Enterprises, has raised that interest to 8.7%, making him the Davenport, Iowa, company’s second-largest shareholder.