Warren Buffett has declared the newspaper business toast, highlighting a significant decline in the industry, yet David Hoffmann believes local newspapers hold value and importance.
Mr. Hoffmann acknowledges that investing in local newspapers is a quixotic proposition, yet he argues they are key to American communities, contending that there's still a future for print.
Hoffmann views Lee Enterprises as undervalued in the stock market, arguing for a dual existence of print and digital, thus maintaining the relevance of local journalism.
With a variety of businesses under his belt, Hoffmann is relatively new to the newspaper sector, having already acquired small newspaper titles before investing in Lee Enterprises.
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