Overview

• Shareholders approved the merger at a special meeting, as disclosed in a Form 8-K filing.
• Each share will be bought for $16.50 in cash, and DallasNews will cease public trading when the deal closes.
• The transaction is expected to close on or about September 24, subject to customary conditions.
• Alden’s MNG raised a rival offer to $20 per share but faced opposition from the board and major shareholder Robert Decherd.
• An SEC filing estimated Hearst’s total purchase outlay at about $80.3 million, and The Dallas Morning News and Medium Giant will join Hearst.