DallasNews Corporation announces shareholder approval of Hearst merger agreement

With the agreement now approved, we’re excited to work with our new colleagues at The Dallas Morning News and Medium Giant. Bringing these respected organizations into Hearst fully aligns with our commitment to strengthening trusted, high-impact local media in growing markets, and we look forward to building the future together.”

Jeff Johnson, president, Hearst Newspapers

DallasNews Corporation (Nasdaq: DALN), the holding company of The Dallas Morning News and Medium Giant, announced that shareholders approved the company’s pending merger with Hearst at the company’s special meeting of shareholders held Sept. 23.

Subject to the completion of the closing, The Dallas Morning News and Medium Giant will now join Hearst, one of the nation’s leading information, services and media companies. As outlined in the merger agreement, DallasNews shareholders will receive an all cash consideration of $16.50 per share of DallasNews common stock, and DallasNews will cease to trade as a public company.

“We would like to thank DallasNews shareholders for voting to approve this important and value creating merger with Hearst, and for securing the future of DallasNews,” said John A. Beckert, chairman of the board, DallasNews. “We are proud to have delivered this compelling and certain 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.”

“With the agreement now approved, we’re excited to work with our new colleagues at The Dallas Morning News and Medium Giant,” said Jeff Johnson, president of Hearst Newspapers. “Bringing these respected organizations into Hearst fully aligns with our commitment to strengthening trusted, high-impact local media in growing markets, and we look forward to building the future together.”

DallasNews has reported the results of the special meeting via a Form 8-K filed with the Securities and Exchange Commission.

The transaction is expected to close on or about Sept. 24, 2025, subject to the satisfaction or waiver of closing conditions.

J.P. Morgan Securities LLC served as exclusive financial adviser to DallasNews Corporation and Haynes Boone served as legal adviser.

About DallasNews Corporation:

DallasNews Corporation is the Dallas-based holding company of The Dallas Morning News and Medium Giant. The Dallas Morning News, a leading daily newspaper, is renowned for its excellent journalistic reputation, intense regional focus and close community ties. As a testament to its commitment to quality journalism, the publication has been honored with nine Pulitzer Prizes. Medium Giant, an integrated creative marketing agency with offices in Dallas and Tulsa, works with a roster of premium brands and companies. In 2024, the agency earned top industry recognition, winning an AAF Addy and the AMA DFW Annual Marketer of the Year Award for Campaign of the Year, along with six prestigious Davey Awards. Medium Giant is a wholly owned business of DallasNews Corporation. For additional information, visit mediumgiant.co.