The Dallas Morning News is now part of Hearst Newspapers.
The merger was completed on Wednesday for a cash price of $16.50 per share of common
stock.
Alden Global Capital’s MNG Enterprises had offered $20 per share. Hearst’s initial offer was $14.
DallasNews Corp. will no longer trade as a public
company.
The deal also includes Medium Giant, a creative marketing agency with offices in Dallas and Tulsa.
It was not clear at deadline what Alden achieved in the
end, except that a rival newspaper organization ended up paying a higher price.
The merger with Hearst was first announced on July 10, and shareholders voted for it on Tuesday of this
week.
Earlier this year, Hearst acquired the Austin American-Statesman from Gannett.
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