Overview

• Investors approved the merger at a special meeting, with results reported in a Form 8-K filed with the SEC.
• Under the agreement, shareholders will receive $16.50 in cash per share and the company will cease trading as a public entity.
• The deal is slated to close on or about Sept. 24, subject to remaining closing conditions.
• The vote followed a contested period that included unsolicited bids from Alden’s MNG Enterprises that rose as high as $20 per share, according to A Media Operator.
• Hearst Newspapers’ president said the acquisition aligns with a strategy to strengthen trusted local media in growing markets, expanding the company’s Texas footprint.