Naples’ Hoffmann takes step to buy national newspaper chain

The Hoffmann Family of Cos. has reached out to the Iowa newspaper group Lee Enterprises in hopes of beginning negotiations on purchasing the company and possibly taking it private.

In a March 20 letter addressed to Lee’s president, Kevin Mowbray, and the board of directors, Hoffmann’s chairman David Hoffman writes that he wants “to open discussions with you regarding a potential combination of our companies, in which the HF Companies would pursue acquisition of Lee in its entirety.”

Hoffmann, based in Naples and Chicago, is Lee’s second largest shareholder owning a 9.7% of the company's shares as of late last year.