In a major media shake-up, Hearst Newspapers is set to acquire DallasNews Corporation, the parent company of The Dallas Morning News and marketing agency Medium Giant. The deal, unanimously approved by both boards, means shareholders will receive $14 in cash per share - a remarkable 219% premium over Friday's stock close of $4.39 - before DallasNews goes private in the third or early fourth quarter.
This acquisition brings significant local weight, as Hearst now controls daily newspapers in Texas’s four largest cities, including the Austin American‑Statesman, Houston Chronicle, and San Antonio Express‑News. With this move, Hearst aims to bolster The Dallas Morning News with digital transformation, deeper audience engagement, and expanded agency services for Medium Giant.
Hearst Newspapers President Jeff Johnson commented that the company is “committed to supporting the Dallas Morning News’ continued success through smart investments in their digital strategy, compelling journalism, and expanded audience reach.”
Meanwhile, Grant Moise, CEO of DallasNews and publisher of The News, praised the merger’s alignment in values and long-term vision, highlighting the shared dedication to editorial integrity and community-focused reporting.
Upon closing, The Dallas Morning News - a 140-year-old institution with nine Pulitzer Prizes - will join Hearst’s expansive portfolio, which comprises 28 daily and 50 weekly newspapers nationwide.
The integration of Medium Giant is expected to elevate Hearst’s in-house agency capabilities, offering clients enhanced creative and marketing services.
This landmark acquisition closes in late 2025, marking both the end of DallasNews’s public tenure on Nasdaq and the beginning of a new chapter under Hearst’s stewardship.