DallasNews completes merger with Hearst, ceases public trading.

DallasNews Corporation has completed its merger with Hearst, with shareholders receiving $16.50 per share in cash. The Dallas Morning News and Medium Giant will now operate under Hearst, a leading information, services, and media company. DallasNews will cease trading as a public company.

DallasNews Corporation (Nasdaq: DALN) has completed its merger with Hearst, resulting in The Dallas Morning News and Medium Giant becoming part of Hearst's media portfolio. Under the terms of the merger agreement, DALN shareholders will receive $16.50 per share in an all-cash transaction.

The merger, initially announced on July 10, 2025, received shareholder approval on September 23, 2025. As a consequence of the deal's completion, DallasNews has ceased trading on the Nasdaq exchange effective September 24, 2025. J.P. Morgan Securities LLC and Haynes Boone served as financial and legal advisors, respectively, for the transaction.

The Dallas Morning News and Medium Giant will now operate as part of Hearst, one of the nation’s leading information, services, and media companies. The merger aims to integrate these respected organizations into Hearst's extensive portfolio, enhancing local media presence in growing markets.

Shareholders will receive an all-cash consideration of $16.50 per share, providing immediate financial benefits. The merger aligns DallasNews with Hearst, a leading media company, which may enhance the future prospects and operational capabilities of The Dallas Morning News and Medium Giant. The successful completion of the merger demonstrates shareholder confidence in the direction and value of DallasNews Corporation.

However, shareholders will no longer participate in future company growth as DallasNews will cease to trade as a public company. Potential risks include potential disruptions to current operations and challenges with employee retention.

The transaction is expected to close on or around September 24, 2025, pending the fulfillment of closing conditions. DallasNews has expressed gratitude to its shareholders for their support and looks forward to a bright future under Hearst’s ownership.