DallasNews Corporation Announces Amendment to Hearst Merger Agreement with a Final Increase to the Purchase Price
DallasNews Shareholders to Receive All-Cash Consideration of $16.50 Per Share, a 276% Premium Over the Closing Price Per Share of Series A Common Stock on July 9, 2025
Hearst Merger Provides Certainty of Value, Accelerated ROI, and Immediate Liquidity, While Eliminating Company Ownership Risks for Shareholders
Board Unanimously Recommends that Shareholders Vote "FOR" the Hearst Merger to Secure the Future of DallasNews and Realize a Significant Premium on their Investment
DALLAS, Sept. 15, 2025 (GLOBE NEWSWIRE) -- DallasNews Corporation (NASDAQ:DALN) (the "Company" or "DallasNews"), the holding company of The Dallas Morning News and Medium Giant, announced today that it has entered into an amendment to the definitive agreement governing the Company's pending merger with Hearst (the "Hearst Merger"), one of the nation's leading information, services and media companies, which increases the per share purchase price to be paid by Hearst from $15.00 to $16.50 per share in cash, representing a premium of 276% over the $4.39 closing price per share of Series A Common Stock on July 9, 2025.
A Final Enhanced Offer that Delivers Certain Value and a Significant Premium for DallasNews Shareholders
Jeff Johnson, president of Hearst Newspapers, stated, "With this best and final increase to our offer, we are clearly demonstrating our commitment to providing significant value to DallasNews shareholders and further illustrating our belief that DallasNews has a bright future as part of the Hearst family."
John A. Beckert, Chairman of the Board, DallasNews, added, "We are pleased to have been able to secure a higher price for DallasNews shareholders and recommend that all shareholders vote FOR the merger with Hearst. DallasNews shareholders have an important choice to make: either support this value creating transaction and realize a significant premium on their investment, or alternatively, DallasNews will remain a public company and its shares may return to their pre-announcement trading value of approximately $4 per share."
Clear Support from the DallasNews Board of Directors, the Company's Largest Shareholder, and Leading Independent Proxy Advisory Firms
In addition to the unanimous support of the DallasNews board of directors (the "Board"), the Hearst Merger is supported by the Company's largest shareholder, Robert W. Decherd. Decherd has publicly and consistently stated that he will vote FOR the Hearst Merger based on Hearst's reputation and historic commitment to journalistic integrity, delivering high-quality local news, and meeting its audiences' information needs with excellence.
Decherd has reiterated his confidence in the transaction stating, "This increased ...
