DallasNews Corporation Confirms Receipt of Unsolicited Non-Binding Acquisition Proposal from MNG Enterprises
DallasNews Corporation (Nasdaq: DALN) has received an unsolicited, non-binding acquisition proposal from MNG Enterprises, an Alden Global Capital affiliate, offering $16.50 per share in cash for all outstanding shares.
This new proposal comes after DallasNews had already entered into a definitive merger agreement with Hearst on July 9, 2025, which offered $14.00 per share in cash. The Board of Directors is reviewing the MNG proposal while maintaining its current recommendation supporting the Hearst merger agreement.
DallasNews Corporation (Nasdaq: DALN) ha ricevuto una proposta di acquisizione non sollecitata e non vincolante da parte di MNG Enterprises, un affiliato di Alden Global Capital, che offre 16,50 dollari per azione in contanti per tutte le azioni in circolazione.
Questa nuova proposta arriva dopo che DallasNews aveva già stipulato un accordo definitivo di fusione con Hearst il 9 luglio 2025, che prevedeva un'offerta di 14,00 dollari per azione in contanti. Il Consiglio di Amministrazione sta valutando la proposta di MNG mantenendo al contempo la raccomandazione attuale a favore dell'accordo di fusione con Hearst.
DallasNews Corporation (Nasdaq: DALN) ha recibido una propuesta de adquisición no solicitada y no vinculante por parte de MNG Enterprises, un afiliado de Alden Global Capital, que ofrece 16,50 dólares por acción en efectivo por todas las acciones en circulación.
Esta nueva propuesta llega después de que DallasNews ya hubiera firmado un acuerdo definitivo de fusión con Hearst el 9 de julio de 2025, que ofrecía 14,00 dólares por acción en efectivo. La Junta Directiva está revisando la propuesta de MNG mientras mantiene su recomendación actual de apoyar el acuerdo de fusión con Hearst.
DallasNews Corporation (나스닥: DALN)은 Alden Global Capital 계열사인 MNG Enterprises로부터 모든 발행 주식에 대해 주당 16.50달러 현금을 제안하는 비공식적이고 구속력 없는 인수 제안을 받았습니다.
이번 새로운 제안은 DallasNews가 2025년 7월 9일 Hearst와 이미 확정된 합병 계약을 체결했으며, 그 계약은 주당 14.00달러 현금을 제안한 바 있습니다. 이사회는 MNG의 제안을 검토하는 동시에 Hearst와의 합병 계약을 지지하는 현재의 권고 입장을 유지하고 있습니다.
DallasNews Corporation (Nasdaq : DALN) a reçu une proposition d'acquisition non sollicitée et non contraignante de la part de MNG Enterprises, une filiale d'Alden Global Capital, offrant 16,50 $ par action en espèces pour toutes les actions en circulation.
Cette nouvelle proposition intervient après que DallasNews a déjà conclu un accord définitif de fusion avec Hearst le 9 juillet 2025, qui offrait 14,00 $ par action en espèces. Le conseil d'administration examine la proposition de MNG tout en maintenant sa recommandation actuelle en faveur de l'accord de fusion avec Hearst.
DallasNews Corporation (Nasdaq: DALN) hat ein unverlangtes, unverbindliches Übernahmeangebot von MNG Enterprises, einem Tochterunternehmen von Alden Global Capital, erhalten, das 16,50 USD pro Aktie in bar für alle ausstehenden Aktien bietet.
Dieses neue Angebot folgt darauf, dass DallasNews bereits am 9. Juli 2025 eine endgültige Fusionsvereinbarung mit Hearst getroffen hatte, die 14,00 USD pro Aktie in bar bot. Der Vorstand prüft den MNG-Vorschlag, hält jedoch weiterhin seine derzeitige Empfehlung zur Unterstützung der Fusionsvereinbarung mit Hearst aufrecht.
- MNG's offer price of $16.50 per share represents an 18% premium over Hearst's $14.00 offer
- Multiple acquisition offers indicate strong market interest in DallasNews assets
- Both offers provide immediate cash value to shareholders
- MNG's proposal is non-binding and subject to conditions, creating uncertainty
- Potential complications with existing Hearst merger agreement
- Association with Alden Global Capital, known for aggressive cost-cutting in media acquisitions
DALLAS, July 23, 2025 (GLOBE NEWSWIRE) -- DallasNews Corporation (Nasdaq: DALN) (the “Company” or “DallasNews”), the holding company of The Dallas Morning News and Medium Giant, today confirmed that it has received an unsolicited, non-binding proposal (the “MNG Proposal”) from MNG Enterprises, Inc., an affiliate of Alden Global Capital, to acquire all of the issued and outstanding shares of the Company’s common stock at a price of
As previously announced, on July 9, 2025, DallasNews entered into a definitive agreement (the “Merger Agreement”) with Hearst, one of the nation’s leading information, services and media companies, pursuant to which Hearst agreed to acquire all of the issued and outstanding shares of the Company’s common stock at a price of
Consistent with its fiduciary duties, the Board of Directors of DallasNews (the “Board”) is carefully reviewing the MNG Proposal in consultation with its legal and financial advisors. DallasNews remains subject to the terms of the Merger Agreement, and the Board has not changed its recommendation in support of the merger under the Merger Agreement. The Board will provide further updates to its shareholders as appropriate.
About DallasNews Corporation
DallasNews Corporation is the Dallas-based holding company of The Dallas Morning News and Medium Giant. The Dallas Morning News, a leading daily newspaper, is renowned for its excellent journalistic reputation, intense regional focus, and close community ties. As a testament to its commitment to quality journalism, the publication has been honored with nine Pulitzer Prizes. Medium Giant, an integrated creative marketing agency with offices in Dallas and Tulsa, works with a roster of premium brands and companies. In 2024, the agency earned top industry recognition, winning an AAF Addy and the AMA DFW Annual Marketer of the Year Award for Campaign of the Year, along with six prestigious Davey Awards. Medium Giant is a wholly owned business of DallasNews Corporation. For additional information, visit mediumgiant.co.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations, estimates and projections about, among other things, the industry and markets in which the Company operates and the transactions described in this communication. Words such as “anticipate,” “assume,” “believe,” “can,” “could,” “estimate,” “forecast,” “intend,” “expect,” “may,” “project,” “plan,” “seek,” “should,” “target,” “will,” “would” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those set forth in forward-looking statements. While the Company’s management believes the assumptions underlying its forward-looking statements and information are reasonable, such information is necessarily subject to uncertainties and may involve certain risks, many of which are difficult to predict and are beyond the control of the Company’s management. These risks include, but are not limited to: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement between the Company and Hearst (the “Merger Agreement”); (ii) the outcome of any legal proceedings that may be instituted against the Company and others following announcement of the Merger Agreement; (iii) the inability to complete the proposed merger transaction involving the Company and Hearst (the “Merger”) due to the failure to obtain the requisite approval of the Company’s shareholders or the failure to satisfy other conditions to completion of the Merger; (iv) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the Merger; (v) the impact, if any, of the announcement or pendency of the Merger on the Company’s relationships with customers or other commercial partners; (vi) the amount of the costs, fees, expenses and charges related to the Merger; and (vii) other risks described in the Company’s public disclosures and filings with the Securities and Exchange Commission (the “SEC”). All forward-looking statements speak only as of the date of this communication or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section. We undertake no obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this communication.
Additional Information and Where to Find It
This communication is being made in connection with the proposed merger transaction involving the Company and Hearst. In connection with the proposed transaction, the Company plans to file a proxy statement with the SEC. This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or with respect to the proposed transaction. SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY AND IN ITS ENTIRETY IF AND WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. In addition, if and when available, the proxy statement and the documents incorporated therein by reference will be available free of charge at the SEC’s website, www.sec.gov. If and when available, the proxy statement and the documents incorporated therein by reference also may be obtained for free at the Company’s website, dallasnewscorporation.com, or by contacting the Company at (214) 977-8869.
Participants in the Solicitation
The Company and its directors and officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the Company’s directors and executive officers is included in its proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on March 26, 2025, and will be included in the proxy statement relating to the proposed transaction, if and when it becomes available.
| Contacts | |
| For DallasNews Corporation: Media: Kekst CNC Jonathan Morgan James Hartwell jonathan.morgan@kekstcnc.com james.hartwell@kekstcnc.com | For DallasNews Corporation: Investors Katy Murray, President 214-977-8869 kmurray@dallasnews.com |
FAQ
What is the acquisition price offered by MNG Enterprises for DallasNews (DALN)?
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When did DallasNews (DALN) sign the merger agreement with Hearst?
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