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Shareholders to Vote on Hearst's Buyout of Dallas Morning News Parent
Shareholders approved Hearst's $88.3 million acquisition of DallasNews Corporation, securing the newspaper's future and expanding Hearst's Texas media presence.
- On Tuesday, DallasNews Corporation shareholders approved a merger to sell the company to Hearst, bringing The Dallas Morning News and Medium Giant into Hearst pending closing.
- An unsolicited proposal from an affiliate of Alden Global Capital repeatedly faced rejection as MNG Enterprises Inc., a subsidiary of Alden Global Capital, raised offers from $16.50 to $18.50 before the DallasNews Corporation board of directors rejected bids last week at $20.
- The all-cash $16.50 per share offer values DallasNews at $88.3 million, with shareholders approving the deal, SEC filings show 77, 98.8, and 89.3% support from Series A, B, and total shareholders respectively.
- The transaction is expected to close on or about September 24, 2025, and DallasNews said it could close as soon as Wednesday; once closed, DallasNews will cease public trading and The Dallas Morning News will join Hearst's Texas lineup.
- Coinciding with its 140th anniversary next month, the sale marks the end of family control, with Robert W. Decherd and the DallasNews Corporation board backing Hearst as a steward.
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Dallas Morning News shareholders vote to deny the hedge fund Alden Global Capital
How about some good news? Could you use some good news today? A newspaper transaction doesn’t always have to go horribly. The worst possible outcome isn’t always predestined. Today, shareholders of DallasNews Corporation, owners of The Dallas Morning News1, voted overwhelmingly to make a lot of money by being acquired by the Hearst Corporation. (Hearst has been generous enough to describe this process as a “merger” rather than an acquisition, bu…
Hearst wins bidding war for 140-year-old Dallas newspaper
Hearst gained approval for its acquisition of DallasNews Corp., the parent of the Dallas Morning News, winning a two-month bidding war despite offering less money than a company backed by investor Alden Global Capital.
·Detroit, United States
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right0Center7Last UpdatedBias Distribution78% Center
Bias Distribution
- 78% of the sources are Center
78% Center
L 22%
C 78%
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