BlackRock has bought about 3.1 million shares of Lee Enterprises stock, for a 5.5% share of the company, the Quad-City Times reported, citing an SEC filing.
BlackRock, based in New York City, is the world’s biggest asset manager.
BlackRock’s purchase follows other players’ moves on Lee stock.
In January, hedge fund Alden Global Capital’s MNG Enterprises took a 5.9% stake in Iowa-based Lee. The buy came on the heels of the Jan. 29 announcement that Lee is buying Warren Buffett’s BH Media Group publications and The Buffalo News for $140 million in cash.
On Dec. 31, Franklin Mutual Advisers bought around 4.35 million shares, or 7.4% of the company’s available stock, according to an SEC filing dated Jan. 23.