Dallas Morning News Corp To Merge With Hearst

DallasNews Corporation the parent company of The Dallas Morning News and Medium Giant, announced a definitive merger agreement to be acquired by Hearst, a global media conglomerate, in an all-cash deal valued at approximately $85 million. 

The acquisition, unanimously approved by the boards of both companies, marks a significant consolidation in the media industry and strengthens Hearst’s presence in Texas, where it now owns newspapers in the state’s four largest cities: Houston, San Antonio, Austin, and Dallas.

Hearst will acquire DallasNews Corporation for $14 per share in cash, a 219% premium over the closing stock price of $4.39 on July 9, 2025. This caused DallasNews stock to soar 208–217% in pre-market trading.

A voting agreement covering 55% of DallasNews shares ensures strong shareholder support, with the deal backed by an unconditional guarantee from Hearst Communications, Inc.

The Dallas Morning News, a 140-year-old institution known for its journalistic excellence and nine Pulitzer Prizes, will join Hearst Newspapers, which operates 28 dailies and 50 weeklies across the U.S.
Medium Giant, DallasNews’ integrated creative marketing agency, will be integrated with Hearst Newspapers’ agency services, enhancing its digital and marketing capabilities.

The merger aligns with Hearst’s strategy to support trusted local media brands in growth markets, leveraging its resources to bolster The Dallas Morning News’ digital strategy, editorial excellence, and audience reach.

Grant Moise, CEO of DallasNews and publisher of The Dallas Morning News, emphasized that Hearst’s expertise in supporting local independent journalism will ensure the newspaper “thrives for decades to come.”

Jeff Johnson, president of Hearst Newspapers, highlighted plans to invest in digital strategies, compelling journalism, and expanded audience reach for The Dallas Morning News.

Robert W. Decherd, former board chairman and majority voting shareholder, expressed confidence that the merger will preserve the newspaper’s tradition of distinguished journalism.

The transaction is expected to close in the third or early fourth quarter of 2025 (September–October), pending customary approvals. A proxy statement will be filed with the SEC for shareholder review.