Meet David Hoffmann, the Florida Billionaire Who Wants to Preserve Local Newspapers

Published On Oct 21, 2024, 5:04 AM

David Hoffmann, a Florida billionaire and founder of DHR Global, has acquired a 5.2% stake in Lee Enterprises, America's fourth-largest newspaper chain, and plans to pursue a controlling interest. He believes local newspapers are undervalued and vital to communities despite the industry's decline. Hoffmann's bet comes as other investors, like Warren Buffett, have expressed pessimism about the sector's future; he argues that there remains a place for print newspapers amid ongoing digital transformation.