Hearst Wins Bidding War for Dallas Morning News with $16.50 per Share Offer

Hearst has won a two-month bidding war for DallasNews Corp., the parent of the Dallas Morning News, despite offering less money than MediaNews Group, backed by Alden Global Capital. Hearst's bid values the company at $16.50 per share, while MediaNews offered $20 a share. The acquisition gives Hearst control over newspapers in most major Texas cities, expanding its portfolio. MediaNews has invited former DallasNews chairman Robert Decherd to lead an editorial advisory board to ensure the Morning News' journalistic excellence.

Hearst Corporation has secured the acquisition of DallasNews Corp., the parent company of The Dallas Morning News, after winning a two-month bidding war. Despite offering $16.50 per share, which is less than the $20 per share bid from MediaNews Group backed by Alden Global Capital, Hearst's proposal was approved by DallasNews shareholders DallasNews Corporation Announces Shareholder Approval of Hearst Merger Agreement^[1]. The acquisition values DallasNews at $16.50 per share, a significant premium over the company's pre-announcement share price Hearst Wins Bidding War for 140-Year-Old Dallas Newspaper^[2].

The deal marks a strategic expansion for Hearst, which will gain control over newspapers in most major Texas cities. This move aligns with Hearst's commitment to strengthening trusted, high-impact local media in growing markets DallasNews Corporation Announces Shareholder Approval of Hearst Merger Agreement^[1]. The acquisition is subject to the completion of the closing conditions, which are expected to be met by September 24, 2025 DallasNews Corporation Announces Shareholder Approval of Hearst Merger Agreement^[1].

MediaNews Group, which offered a higher per-share price, has invited former DallasNews chairman Robert Decherd to lead an editorial advisory board. This move aims to ensure the journalistic excellence of The Dallas Morning News, a publication renowned for its Pulitzer Prize-winning journalism DallasNews Corporation Announces Shareholder Approval of Hearst Merger Agreement^[1].

The acquisition underscores the competitive landscape in the media industry, where strategic acquisitions are increasingly used to expand market reach and enhance operational efficiencies. The successful bid by Hearst highlights the importance of shareholder approval and the potential impact of a company's reputation on the acquisition process.