Lee Enterprises

Billionaire Warren Buffett's company now owns about 3.2 percent of Lee Enterprises' stock as Berkshire Hathaway Inc.'s newspaper holdings continue to grow.

Buffett's Omaha-based company disclosed owning 1.66 million shares of Lee's stock on Tuesday after the Securities and Exchange Commission refused to let him keep the investment confidential.

The SEC often lets Buffett conceal investment moves while he's making them because so many investors try to copy him.

Alex King/St. Louis Public Radio

St. Louis Post-Dispatch employees are demanding corporate leaders at the paper's parent company, Lee Enterprises, give back their bonuses.  They say CEO Mary Junck and CFO Carl Schmidt together collected $750,000 in bonuses at a time of layoffs at several Lee papers and cuts to retiree medical benefits.

Shannon Duffy, business representative for the United Media Guild -- the Post's largest union -- says the company's corporate leadership is out of touch with reality.

Twelve former employees of the St. Louis Post-Dispatch have sued the paper, saying corporate officials lied to them about the benefits the employees would receive after taking an early retirement offer in 2007.

(via Flickr/pasa47)

The owner of the St. Louis Post-Dispatch announced today that it will file for Chapter 11 bankruptcy this month.

Lee Enterprises, based in Davenport, Iowa, says it will allow the company to restructure its debt and exit bankruptcy within 60 days.

The company said in a press release that the filing would not affect employees, vendors and customers.