DallasNews Corp. Shareholders Approve $88.3M Hearst Takeover
The all-cash deal at $16.50 per share will take the publisher of The Dallas Morning News private, ending nearly 140 years of family control.
Shareholders of DallasNews Corporation have approved a takeover by Hearst, the privately held media conglomerate, in a deal that marks a historic shift for one of Texas's oldest institutions. The all-cash transaction values the company at approximately $88.3 million.
Under the terms of the agreement, DallasNews Corp. stockholders will receive $16.50 in cash for each share they own. The was confirmed during a special meeting, with the transaction expected to close on or about September 24, 2025. Upon completion, DallasNews Corp. will be delisted from the Nasdaq stock exchange and operate as a private entity under Hearst's ownership.
The path to the final sale price involved a competing bid from Alden Global Capital, which was ultimately rejected by the DallasNews board in favor of the Hearst proposal. The approved price of $16.50 per share is a significant premium over the initial offer of $14.00, reflecting the competitive interest in the storied media asset.
For Hearst, the acquisition deepens its significant presence in the Texas media landscape, adding The Dallas Morning News and the marketing agency Medium Giant to a portfolio that already includes major newspapers like the . The move is a strategic consolidation by one of the nation's largest diversified media companies, known for its extensive portfolio of newspapers, magazines, and television assets.
The sale represents a pivotal moment for The Dallas Morning News, which has been under the control of its founder's descendants for nearly 140 years. This signifies the end of an era for the Pulitzer Prize-winning newspaper. In a statement regarding the initial agreement, to upholding the paper's journalistic standards and investing in its digital future to broaden its audience reach.