Dallas, September 20, 2025
News Summary
A fierce takeover contest for the Dallas Morning News has unfolded, with Alden Global Capital offering $107 million and Hearst bidding $88 million. Shareholders will vote on September 23 on whether to accept Hearst’s lower bid, which is preferred by management. Robert Decherd, the former chairman, holds significant influence over the outcome due to the company’s dual-class stock structure. The situation reflects ongoing struggles in the newspaper industry, as local voices express concern over potential ownership changes.
Dallas — A heated takeover contest has formed around the Dallas Morning News, with two major suitors submitting competing bids and company insiders and shareholders positioned to decide the paper’s fate.
What happened
Robert Decherd, former chairman of the Dallas Morning News, has been involved in a bidding war for the paper. Alden Global Capital has made a bid of $107 million for DallasNews, which is more than four times its market value from early July. Hearst has submitted a competing bid of $88 million for DallasNews, which Decherd and the management prefer despite it being lower than Alden’s offer.
Shareholders will vote on September 23 to determine whether to accept Hearst’s transaction. Decherd has the power to block any acquisition due to a dual-class stock structure at DallasNews, making his stance central to the outcome.
Key deal details
The bidding war began on July 10, with Hearst announcing a $14 per share offer, which was 219% higher than the closing price on July 9. Alden initially offered $16.50 per share and later raised it to $20 per share. Current trading prices are below $16, indicating low trader confidence in Alden’s chances.
Financial advisory firms Glass Lewis and ISS have recommended the Hearst offer to shareholders, adding weight to management’s preference. DallasNews’ Chairman, John Beckert, warned that rejecting the Hearst deal could lead to shares falling to around $4.
Why the bidders matter
Alden’s MediaNews Group, a subsidiary, has a reputation for ruthless cost-cutting in the newspaper industry. Alden’s bid has stirred controversy due to past accusations of gutting newsrooms under its ownership, raising concerns among journalists and investors. Those concerns have shaped opinion among company leadership and the investor advisory firms that have issued guidance.
Decherd states his goal is to sustain the journalistic quality of the Dallas Morning News rather than viewing it as a financial asset. Local voices have reacted to the prospect of an ownership change. Laura Miller, a former mayor of Dallas, expressed concerns over the potential out-of-town ownership of the city’s paper.
Market and industry context
The Dallas Morning News is over 140 years old and was founded by Decherd’s great-grandfather. Since 2008, DallasNews’ share price has fallen over 90%, indicating the industry’s struggles amid a broader decline in newspaper business. Approximately 130 newspapers closed in 2024, reflecting the financial pressures on the newspaper industry.
Although print circulation has decreased by 68% since 2016, the price of the Dallas Morning News print product has tripled to $4.99 for a weekday copy. There remains a loyal subscriber base despite a national trend of declining newspaper readership. Those dynamics help explain why ownership and strategy decisions at DallasNews draw intense attention from local leaders, staff and investors.
What’s next
Shareholders will make the formal decision on September 23. If the shareholder vote accepts Hearst’s transaction, management and advisory recommendations will carry the deal forward. If shareholders reject the recommended transaction, leadership has warned that share value could decline sharply, and Decherd retains the power to block any acquisition outcome because of the company’s dual-class stock structure.
FAQ
Who is involved in the bidding?
Robert Decherd, former chairman of the Dallas Morning News, has been involved in a bidding war for the paper.
What offers have been made?
Alden Global Capital has made a bid of $107 million for DallasNews, which is more than four times its market value from early July. Hearst has submitted a competing bid of $88 million for DallasNews, which Decherd and the management prefer despite it being lower than Alden’s offer.
When will shareholders vote?
Shareholders will vote on September 23 to determine whether to accept Hearst’s transaction.
Can anyone block an acquisition?
Decherd has the power to block any acquisition due to a dual-class stock structure at DallasNews.
How did the bidding evolve, and what are current trading signals?
The bidding war began on July 10, with Hearst announcing a $14 per share offer, which was 219% higher than the closing price on July 9. Alden initially offered $16.50 per share and later raised it to $20 per share. Current trading prices are below $16, indicating low trader confidence in Alden’s chances.
What are the recommendations from advisory firms?
Financial advisory firms Glass Lewis and ISS have recommended the Hearst offer to shareholders.
Why is Alden a contentious bidder?
Alden’s bid has stirred controversy due to past accusations of gutting newsrooms under its ownership, raising concerns among journalists and investors.
What is the broader industry context?
Since 2008, DallasNews’ share price has fallen over 90%, indicating the industry’s struggles amid a broader decline in newspaper business. Approximately 130 newspapers closed in 2024, reflecting the financial pressures on the newspaper industry. Although print circulation has decreased by 68% since 2016, the price of the Dallas Morning News print product has tripled to $4.99 for a weekday copy. There remains a loyal subscriber base despite a national trend of declining newspaper readership.
Deal Summary
| Feature | Details |
|---|---|
| Primary bidders | Alden Global Capital; Hearst |
| Alden offer | $107 million; later raised to $20 per share |
| Hearst offer | $88 million; announced $14 per share on July 10 |
| Management preference | Decherd and the management prefer Hearst despite it being lower than Alden’s offer |
| Shareholder action | Shareholders will vote on September 23 to determine whether to accept Hearst’s transaction |
| Advisory recommendations | Financial advisory firms Glass Lewis and ISS have recommended the Hearst offer to shareholders |
| Industry context | Since 2008, DallasNews’ share price has fallen over 90%; Approximately 130 newspapers closed in 2024 |
Deeper Dive: News & Info About This Topic
HERE Resources
School Districts Face State Takeover Due to Poor Performance
Memorial Service for Financial Executive Patrick Beloeil
Record Amount Raised in North Texas Giving Day
North Texas Giving Day Aims to Raise $70 Million for Nonprofits
North Texas Giving Day Set to Support Over 3,500 Nonprofits
Services Scheduled for Brayan in Cedar Hill
FedEx Employee Shot by Co-Worker in Dallas Incident
Dallas Man Arrested After Shooting at FedEx Facility
Plano Balloon Festival Returns with Hot Air Balloons
Coworker Fatally Attacks Motel Manager in Dallas
Additional Resources
- Spokesman: Bidding War for Dallas Paper
- Axios: Alden Global vs. Hearst
- Editor and Publisher: Alden Raises Bid
- Dallas News: Game of Thrones Auction
- NBC DFW: North Texas Housing Market
- Wikipedia: Newspaper Industry
- Google Search: Dallas Morning News
- Google Scholar: Dallas Morning News Bidding War
- Encyclopedia Britannica: Newspaper
- Google News: Dallas Morning News Bidding War
Author: STAFF HERE DALLAS WRITER
DALLAS STAFF WRITER The DALLAS STAFF WRITER represents the experienced team at HEREDallas.com, your go-to source for actionable local news and information in Dallas, Dallas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the State Fair of Texas, Deep Ellum Arts Festival, and Dallas International Film Festival. Our coverage extends to key organizations like the Dallas Regional Chamber and United Way of Metropolitan Dallas, plus leading businesses in telecommunications, aviation, and semiconductors that power the local economy such as AT&T, Southwest Airlines, and Texas Instruments. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
