DAVENPORT, Iowa – Newspaper chain owner Lee Enterprises, whose properties include the LaCrosse Tribune and Winona Daily News, asked shareholders to help fight off a hostile take-over. In a letter to shareholders, Lee called Alden Global Capital of New York a “vulture hedge fund.” Lee fears that Alden would sell off assets and drain remaining g properties dry and eventually dump them. The immediate issue is the election of members of Lee’s governing board. Alden already controls 9% of Lee stock and is offering a premium price to buy up a majority to control the company.
Regional footprint
Among Lee Enterprises’ properties is LaCrosse-based River Valley Media Group, comprising three erst-while dailies, none of which publish daily anymore: LaCrosse Tribune, Winona Daily News, and Chippewa Falls Herald. Weeklies: Houston County News, Onalaska-Holmen Courier, Vernon County Times, Dunn County New,s and Tomah Journal.