One of the most famous names in US newspaper publishing, Pulitzer
, has been sold to Midwest-based publisher Lee Enterprises
The $1.4 billion (€1bn, £74m) deal should boost Lee's revenue by 60% and circulation by 50%. The company currently operates 44 dailies in nineteen states, while Pulitzer owns 14 dailies, including its flagship St Louis Post-Dispatch
, plus more than one hundred weekly and other titles.
Family controlled Pulitzer, founded in 1878, began a review of its strategic options late last year [WAMN: 22-Nov-2004], through investment bankers Goldman Sachs
Lee, which has been riding high since it bought family-run Howard Publications
for $694bn in 2002, is thought to have beaten America's biggest publisher, the Gannett Company
, to the Pulitzer prize.
Data sourced from Bloomberg.com; additional content by WARC staff