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Buffett’s Berkshire Discloses Stake in Lee Enterprises

Warren Buffett’s Berkshire Hathaway Inc. disclosed a stake in Lee Enterprises Inc. as the billionaire investor bets on community newspapers.

Buffett’s firm had 1.66 million shares as of March 31, valued at about $2.1 million, Omaha, Nebraska-based Berkshire said in a regulatory filing today. Berkshire withheld information about the stake on May 15 when the company disclosed other holdings in a filing with the U.S. Securities and Exchange Commission. The firm said today that its request to keep the Lee information confidential was denied.