DallasNews issues letter to shareholders related to Hearst merger

DallasNews, the holding company of The Dallas Morning News and Medium Giant, announced that it has filed a definitive proxy statement in connection with its pending merger with Hearst for $15.00 per share in cash, representing a premium of 242% over the $4.39 closing price per share of Series A Common Stock on July 9, 2025. The Board of Directors of DallasNews (DALN)issued a letter to shareholders outlining the case for approving the Hearst Merger: “If the Hearst Merger is approved, DallasNews shareholders will receive all-cash consideration of $15.00 per share, a premium of approximately 242% over the $4.39 closing price per share of Series A Common Stock on July 9, 2025, the last full trading day before the Company announced the transaction. The Board unanimously determined that this transaction is in the best interest of all shareholders. We are asking for you to vote “FOR” this value unlocking opportunity at our upcoming special meeting of shareholders… The all-cash merger consideration provides certainty of value and liquidity to shareholders. In approving the Hearst Merger, DallasNews shareholders would be able to realize significant and immediate value for their shares, and would no longer be subject to market, economic, and other risks that arise from owning an equity interest in a public company… If the Hearst Merger is not approved by shareholders, we will continue to operate DallasNews as an independent organization. However, the Hearst Merger offers a substantial and compelling premium for the Company and one we would be hard pressed to replicate in the short to medium term as a public company… Vote FOR the Hearst Merger on the Enclosed Proxy Card Today and Secure an Attractive Cash Premium for Your Shares.”