Dallas Morning News Sells To NY, Dallas Express Stands As DFW's Lone Locally Owned News Titan
This all-cash acquisition is valued at $14 per share, representing a 219% premium over the closing price on July 9.
The transaction, announced July 10 and unanimously approved by both boards, is expected to close in the third or early fourth quarter of 2025. Once finalized, DallasNews Corporation will be taken private and delisted from Nasdaq.
Although The Dallas Morning News characterized the agreement as a 'merger,' the deal is in fact a full purchase by Hearst, which will assume complete ownership of the company and its assets, including The News and its creative marketing agency, Medium Giant.
DallasNews Corporation has long been based in Dallas as a publicly traded company. Once finalized, The Dallas Morning News will operate as a private entity under the ownership and direction of New York-based Hearst Corporation.
Hearst Corporation, headquartered in Manhattan, owns a portfolio of 28 daily newspapers and 50 weeklies, including the Houston Chronicle, San Antonio Express-News, and San Francisco Chronicle. With this acquisition, Hearst will operate daily newspapers in all four of Texas' largest cities.
The move follows a broader trend in Texas media. The Fort Worth Star-Telegram, another major regional outlet, is owned by New Jersey-based McClatchy.
Following the closure of the deal, The Dallas Express will stand as the only major news outlet in the Dallas–Fort Worth region that remains locally owned and independently operated.
While other legacy publications are folded into national chains, The Dallas Express continues to focus on original reporting and local accountability journalism directed by a Dallas-based team.
'This move aligns squarely with our strategy of backing trusted, high-impact local media brands in growth markets,' said Jeff Johnson, president of Hearst Newspapers.
DallasNews CEO Grant Moise echoed that sentiment in a memo to staff, noting that both organizations share longstanding editorial values. Medium Giant will be integrated into Hearst's broader services division.
The sale follows years of financial headwinds for DallasNews Corp., including declining advertising and print circulation revenues.
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