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Naples-based private equity firm Hoffmann Family of Companies increased its ownership stake in national newspaper chain Lee Enterprises to 8.41%, or 520,863 shares, company officials said. The acquisition makes Hoffmann the second-largest shareholder in the fourth-largest newspaper chain in the U.S., operating in 26 states with 77 newspapers and more than 350 weekly and specialty publications serving 73 markets. A merger between Hoffmann Media Group, owner of Florida Weekly and the Napa Valley Register in California, among other publications, and Lee Enterprises would position the combined company as the third-largest newspaper entity in the country.

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