Lee Enterprises has announced a compromise with the billionaire investor who tried to take over the nation's third-largest newspaper chain this year. The deal is intended to help stabilize the company's finances with a $50 million investment and set Lee up for the future. Investor David Hoffmann will become Lee's chairman as he continues to pursue his goal of becoming the country's largest newspaper publisher. The deal will also allow Lee to renegotiate its debt and save about $18 million a year. Hoffmann has spoken previously about investing in local reporting and high school sports coverage to build a successful digital subscription business. Observers say the question is whether Hoffmann will follow through on that.
