Tribune Publishing has completed the purchase of the Daily Herald, a suburban Chicago newspaper. Although the financial terms have not been disclosed, the company has extended offers to every employee, signaling a continued commitment to the publication’s staff.

David Hoffmann, a Florida-based billionaire and Missouri native, has purchased a controlling stake in Lee Enterprises for $35 million. His move positions him as the new chairman of the Star-Tribune’s parent company and signals a noteworthy shift in media ownership.