DallasNews Corporation Welcomes Shareholder Approval for Hearst Deal
DallasNews Corporation Secures Shareholder Approval for Hearst Merger
DallasNews Corporation (NASDAQ: DALN), the esteemed holding company behind The Dallas Morning News and Medium Giant, has officially received the green light from its shareholders for the merger with Hearst. This decision was made during a Special Meeting of Shareholders, marking a significant milestone in the company's journey.
All-Cash Consideration for Shareholders
As part of the merger agreement, shareholders of DallasNews will receive an all-cash consideration of $16.50 per share of common stock. This financial decision reflects the company’s commitment to providing value to its shareholders while advancing its position in the media landscape.
The Future of Local Media
Upon completion of the merger, The Dallas Morning News and Medium Giant will join forces with Hearst, a powerhouse in information services and media. This union aims to enhance local media's strength and viability, ensuring that these publications continue to serve their communities with integrity and excellence.
Leadership Statements on the Merger
John A. Beckert, Chairman of the Board of DallasNews, expressed gratitude to shareholders for their support. He noted, “We are proud to have delivered this compelling premium for shareholders and are confident that The Dallas Morning News and Medium Giant have a bright future ahead as members of the Hearst family.”
Jeff Johnson, President of Hearst Newspapers, also shared his enthusiasm about the merger. He stated, “Bringing these respected organizations into Hearst fully aligns with our commitment to strengthening trusted, high-impact local media in growing markets. We look forward to building the future together.”
Timeline for the Merger
The merger transaction is anticipated to close around September 24, 2025, pending the fulfillment of standard closing conditions. J.P. Morgan Securities LLC has played a pivotal role as the exclusive financial advisor to DallasNews Corporation, while Haynes Boone provided legal counsel throughout the process.
About DallasNews Corporation
DallasNews Corporation is a leading player in the media industry, recognized for its flagship publication, The Dallas Morning News. This daily newspaper is celebrated for its rigorous journalism and deep community connections, having garnered nine Pulitzer Prizes, a true testament to its quality. Also under the DallasNews umbrella is Medium Giant, a creative marketing agency known for its innovative strategies and successful campaigns, having won prestigious awards like the AAF Addy and the AMA DFW Annual Marketer of the Year Award.
The merger with Hearst is expected to bolster DallasNews Corporation’s resources and capabilities, allowing it to better serve readers and advertisers alike in the dynamic media landscape.
Shareholder Communication
For shareholders seeking further information, D.F. King & Co., Inc. can be reached at toll-free: 1-866-416-0577, or via email at DALN@dfking.com. Okapi Partners LLC is available at toll-free: 1-844-343-2621 or via email at Info@okapipartners.com.
Frequently Asked Questions
What merger was recently approved by DallasNews shareholders?
The shareholders approved the merger with Hearst, allowing DallasNews to merge with this leading media company.
How much will shareholders receive for their shares?
Shareholders will receive an all-cash consideration of $16.50 per share of DallasNews common stock.
When is the anticipated closure date for the merger?
The merger is expected to close on or around September 24, 2025, subject to closing conditions.
Who are the financial and legal advisors involved?
J.P. Morgan Securities LLC served as the financial advisor, while Haynes Boone acted as the legal advisor for the transaction.
What distinguishes DallasNews Corporation in the media landscape?
DallasNews Corporation is renowned for its high-quality journalism through The Dallas Morning News and its innovation through the creative agency Medium Giant.
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