DallasNews Corporation to be Acquired by Hearst in a Major Media Deal
Deal News | Jul 10, 2025 | Globenewswire
DallasNews Corporation, the holding entity of The Dallas Morning News, has signed a definitive agreement to be acquired by Hearst, a leading media company. Announced by Steven R. Swartz, CEO of Hearst, and Grant Moise, CEO of DallasNews, the transaction is valued at $14 per share, a 219% premium over DallasNews' previous closing stock price. The boards of both companies have unanimously approved the acquisition. This strategic alignment aims to enhance The Dallas Morning News's digital and journalistic capabilities under the aegis of Hearst's expansive resources. The merger is anticipated to close by late Q3 or early Q4 of 2025. Post-acquisition, DallasNews will transition to a private company, delisting from Nasdaq. J.P. Morgan Securities LLC and Haynes Boone acted as advisors for DallasNews, while Clifford Chance US LLP advised Hearst. This deal underscores Hearst’s commitment to bolstering local media and aligns with its portfolio of influential publications across the U.S.
Sectors
- Media & Publishing
- Finance
Geography
- United States – Both DallasNews Corporation and Hearst operate within the United States, and the acquisition involves U.S.-based media assets and operations.
- Texas – DallasNews Corporation and The Dallas Morning News are based in Dallas, Texas, indicating significant regional implications and focus.
Industry
- Media & Publishing – The article discusses the acquisition of DallasNews Corporation, a company involved in newspaper publishing and media services, by Hearst, a diversified media company.
- Finance – The transaction involves financial advisors and legal advisors, crucial elements in the finance sector, highlighting aspects like stock valuation and transaction approval processes.
Financials
- $14.00 per share – The cash amount Hearst will pay DallasNews shareholders per share, representing a 219% premium over the closing price before the deal announcement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DallasNews Corporation | Target Company | Company | The company being acquired, it holds The Dallas Morning News and Medium Giant, focusing on media and marketing services. |
| Hearst | Acquirer | Company | A leading diversified media company acquiring DallasNews Corporation, aiming to expand its media portfolio. |
| Steven R. Swartz | CEO of Hearst | People | Overseeing the acquisition process on behalf of Hearst. |
| Grant Moise | CEO of DallasNews Corporation | People | Key executive involved in facilitating the acquisition on behalf of DallasNews. |
| J.P. Morgan Securities LLC | Financial Advisor for DallasNews | Company | Acted as the financial advisor for DallasNews during the acquisition process. |
| Haynes Boone | Legal Advisor for DallasNews | Company | Provided legal advisory services to DallasNews Corporation in the transaction. |
| Clifford Chance US LLP | Legal Advisor for Hearst | Company | Provided legal advisory services to Hearst in the transaction. |