Lee Enterprises Inc. said its board has approved a shareholder rights plan, also known as a poison pill, that would prevent hedge fund Alden Global Capital LLC from acquiring more than 10% of the company as it considers Alden’s hostile bid for the newspaper publisher.

The plan will be in effect for a year, the company said Wednesday. Lee Enterprises Chairman Mary Junck said the plan would give the company’s board and its shareholders time to assess the acquisition proposal without undue pressure.