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DALLAS/NEW YORK - Hearst has agreed to acquire DallasNews Corporation (NASDAQ:DALN) for $14.00 per share in cash, representing a 219% premium over the company’s July 9 closing price of $4.39, the companies announced today. According to InvestingPro data, DallasNews Corporation, with a market capitalization of $23.5 million and annual revenue of $123.4 million, has maintained a strong financial position with more cash than debt on its balance sheet.
The all-cash transaction, unanimously approved by both companies’ boards of directors, values the publisher of The Dallas Morning News at a significant premium and is expected to close during the third or early fourth quarter of 2025. The deal comes as DallasNews Corporation demonstrates solid financial health, with InvestingPro analysis showing a current ratio of 2.49, indicating strong ability to meet short-term obligations.
Upon completion, The Dallas Morning News will join Hearst Newspapers, which currently publishes 28 dailies and 50 weeklies across the United States. DallasNews’ integrated creative marketing agency, Medium Giant, will be incorporated into Hearst’s agency-level services.
"Hearst Newspapers is committed to supporting The Dallas Morning News’ continued success through smart investments in their digital strategy, compelling journalism and expanded audience reach," said Jeff Johnson, president of Hearst Newspapers, in the press release.
Grant Moise, CEO of DallasNews Corporation and publisher of The Dallas Morning News, noted that the 140-year-old newspaper would benefit from Hearst’s "resources, expertise and track record of supporting local independent journalism."
Robert W. Decherd, former board chairman and current majority voting shareholder of DallasNews Corporation, expressed confidence that the acquisition would ensure the newspaper’s continued ability to serve North Texas.
Following the transaction’s completion, DallasNews Corporation will become a private company and its shares will no longer trade on Nasdaq.
J.P. Morgan Securities LLC served as financial advisor to DallasNews Corporation, while Clifford Chance US LLP advised Hearst on the transaction.
The deal remains subject to approval by DallasNews shareholders and other customary closing conditions, according to the company’s statement.
In other recent news, DallasNews Corporation reported its first-quarter earnings for 2025, showing a GAAP net income of $28.3 million, or $5.28 per share, largely due to a gain from selling its Plano printing facility. Despite this, the company faced a decline in total revenue, which fell to $29.1 million, reflecting a $2 million year-over-year decrease. Subscriber growth was a highlight, with a 16% increase in starts attributed to a new AI-powered paywall. At the company’s 2025 Annual Meeting of Shareholders, John A. Beckert, Louis E. Caldera, Ronald D. McCray, Grant S. Moise, and Dunia A. Shive were elected as directors. Additionally, Grant Thornton LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The company also announced that Pulitzer Prize winner Colleen McCain Nelson will take over as Executive Editor of The Dallas Morning News. Nelson, who previously worked at the publication for nearly 12 years, returns after serving as Executive Editor of The Sacramento Bee.
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