DallasNews Corporation (DALN, Financial), the parent company of The Dallas Morning News, just inked a deal to be acquired by media heavyweight Hearst — and the market responded fast. Shares surged more than 200% after the announcement, with Hearst agreeing to pay $14 per share in cash, a premium of 219% over DALN's previous close of $4.39. The deal has been unanimously approved by both boards and, if all goes smoothly, could close by Q3 or early Q4. Once finalized, DALN will be taken private and delisted from Nasdaq.
Under the terms, The Dallas Morning News — a 140-year-old Pulitzer-winning institution — will join Hearst's growing portfolio of trusted local papers, which already includes the Houston Chronicle, San Francisco Chronicle, and Albany Times Union. Medium Giant, the creative agency under DALN, will also fold into Hearst's marketing services arm. Jeff Johnson, president of Hearst Newspapers, pointed to digital growth and “high-impact local media” as key reasons for the acquisition. This could mean new investment in digital transformation and deeper ad offerings for both the newspaper and its agency clients.
Grant Moise, CEO of DallasNews, said the deal represents a natural evolution for the company — one that keeps its mission intact while unlocking more scale and strategic support. “The Hearst family of newspapers shares our values,” Moise noted, adding that Hearst's backing could help sustain The News for decades to come. With long-time owner Robert Decherd also backing the transaction, this deal signals a full-circle moment: the transition of a legacy media brand into a modern, privately-backed newsroom with national infrastructure behind it.
