[SCHEDULE 13D/A] DallasNews Corporation Series A SEC Filing

Rhea-AI Filing Summary

Bank of Montreal and affiliates have filed Amendment No. 1 to Schedule 13G on Translational Development Acquisition Corp. (Class A Ordinary Shares, CUSIP G9008W105). As of 30 Jun 2025 the group beneficially owns 800,000 shares, representing 4.64 % of the outstanding class. All voting and dispositive powers are shared among Bank of Montreal, Bank of Montreal Holding Inc., and BMO Nesbitt Burns Inc.; none have sole power. The stake is held in the ordinary course of business while acting as prime broker for clients, and the filers state the holdings were not acquired to influence control of the issuer. Because ownership is now below the 5 % threshold (Item 5), the filing reflects a position under the level that triggers more extensive disclosure. No other material transactions, earnings data, or control intentions are disclosed.

Positive

• Institutional ownership: Bank of Montreal group still holds a meaningful 4.64 % stake, signalling ongoing institutional interest.

Negative

• Sub-5 % position: Ownership has fallen below the 5 % threshold, indicating a possible reduction in confidence or rebalancing by the filer.

Insights

Equity Analyst

TL;DR – BMO discloses a 4.64 % passive stake; informational, not transformative.

The amendment signals that Bank of Montreal’s aggregate holdings in TDAC have slipped below the 5 % reporting line, now at 800 k shares. Because power is shared and the bank certifies a passive intent, the filing does not suggest imminent activism or strategic influence. For investors, the main takeaway is continued institutional support, albeit at a moderate level. Liquidity or sentiment effects should be minimal, so I classify the impact as neutral.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

DallasNews Corp

(Name of Issuer)

Series A Common Stock, $0.01 par value

(Title of Class of Securities)

235050101

(CUSIP Number)

Guy Gilmore
MNG Enterprises, Inc., 5990 Washington Street
Denver, CO, 80216
(303) 954-6450

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/31/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

Strategic Investment Opportunities LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 470,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 470,000.00

11

Aggregate amount beneficially owned by each reporting person

470,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentage of Series A Common Stock (as defined herein) reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of July 8, 2025, as reported in Exhibit 2.1 to the Form 8-K filed by the Issuer on July 10, 2025.

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

MNG Enterprises, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 470,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 470,000.00

11

Aggregate amount beneficially owned by each reporting person

470,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

CO, HC

Comment for Type of Reporting Person:

The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of July 8, 2025, as reported in Exhibit 2.1 to the Form 8-K filed by the Issuer on July 10, 2025.

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

MNG Investment Holdings LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 470,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 470,000.00

11

Aggregate amount beneficially owned by each reporting person

470,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of July 8, 2025, as reported in Exhibit 2.1 to the Form 8-K filed by the Issuer on July 10, 2025.

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

Freeman Heath

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 470,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 470,000.00

11

Aggregate amount beneficially owned by each reporting person

470,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

IN, HC

Comment for Type of Reporting Person:

The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of July 8, 2025, as reported in Exhibit 2.1 to the Form 8-K filed by the Issuer on July 10, 2025.

SCHEDULE 13D

CUSIP No. 235050101

1

Name of reporting person

Alden Global Capital LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 470,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 470,000.00

11

Aggregate amount beneficially owned by each reporting person

470,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.9 %

14

Type of Reporting Person (See Instructions)

IA, OO

Comment for Type of Reporting Person:

The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of July 8, 2025, as reported in Exhibit 2.1 to the Form 8-K filed by the Issuer on July 10, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Series A Common Stock, $0.01 par value
(b)	Name of Issuer: DallasNews Corp
(c)	Address of Issuer's Principal Executive Offices: P.O. Box 224866, Dallas, TEXAS , 75222-4866.
Item 1 Comment: Pursuant to Rule 13d-2 of the Securities Exchange Act of 1934, as amended, this Amendment No. 1 to the Schedule 13D ("Amendment No. 1") amends certain items of the Schedule 13D filed with the Securities and Exchange Commission on July 22, 2025 (the "Original Schedule 13D" and, together with this Amendment No. 1, the "Schedule 13D"), relating to the Series A Common Stock, par value $0.01 per share (the "Series A Common Stock"), of DallasNews Corporation (the "Issuer"). All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Except as specifically provided herein, this Amendment No. 1 does not modify any of the information previously reported in the Schedule 13D.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended and supplemented as follows: In response to the Board's rejection of MNG's all-cash Proposal to acquire all of the issued and outstanding shares of the Issuer's Common Stock for $16.50 per share, MNG delivered a letter (the "Second Letter") to the Board on July 31, 2025, affirming its commitment to the Proposal and expressing its desire to work collaboratively and cooperatively with the Board regarding the Proposal. The Reporting Persons may take further actions with respect to their investment if the Issuer and the Board continue to refuse to engage with the Reporting Persons or discuss the Proposal, including, without limitation, to engage in communications or discussions regarding the Proposal with other current or future shareholders of the Issuer. The foregoing description of the Second Letter is qualified in its entirety by reference to the full text of the Second Letter, a copy of which is included as Exhibit 5 to this Schedule 13D and is incorporated by reference in its entirety.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Schedule 13D is hereby amended and supplemented as follows: Exhibit Description Exhibit 5: Second Letter to the Board, dated July 31, 2025

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Strategic Investment Opportunities LLC

Signature:	/s/ Guy Gilmore
Name/Title:	Guy Gilmore, Chief Operating Officer of MNG Enterprises, Inc., sole member of MNG Investment Holdings LLC, its managing member
Date:	07/31/2025

MNG Enterprises, Inc.

Signature:	/s/ Guy Gilmore
Name/Title:	Guy Gilmore, Chief Operating Officer
Date:	07/31/2025

MNG Investment Holdings LLC

Signature:	/s/ Guy Gilmore
Name/Title:	Guy Gilmore, Chief Operating Officer of MNG Enterprises, Inc., its sole member
Date:	07/31/2025

Freeman Heath

Signature:	/s/ Heath Freeman
Name/Title:	Heath Freeman
Date:	07/31/2025

Alden Global Capital LLC

Signature:	/s/ Heath Freeman
Name/Title:	Heath Freeman, President
Date:	07/31/2025

FAQ

How many Translational Development Acquisition Corp. shares does Bank of Montreal own?

The filing reports 800,000 Class A shares held by the Bank of Montreal group.

What percentage of TDAC’s outstanding shares does this represent?

The stake equals 4.64 % of the Class A Ordinary Shares.

Does Bank of Montreal have sole voting power over the shares?

No. The bank and its affiliates have shared voting and dispositive power; sole power is zero.

Is the position intended to influence control of TDAC?

No. The certification states the shares were acquired in the ordinary course and not to change or influence control.

Why was an amended Schedule 13G filed?

Amendment No. 1 reflects that ownership is now below 5 %, requiring an update under SEC rules.