DallasNews Rejects Revised Non-Binding Proposal from Affiliate of Alden Global Capital

Core Viewpoint - The Board of Directors of DallasNews Corporation reaffirms its support for the Hearst Merger Agreement, emphasizing the significant cash premium it offers to shareholders, while rejecting a competing proposal from MNG Enterprises, Inc. [1][3] Group 1: Merger Details - DallasNews entered into a definitive agreement with Hearst on July 9, 2025, for Hearst to acquire all issued and outstanding shares at $14.00 per share in cash [2] - The purchase price was later amended to $15.00 per share, representing a 242% premium over the closing price on July 9, 2025 [2] Group 2: Board's Decision Process - The Board reviewed the Revised Alden Proposal and determined it was not a superior proposal, engaging with Robert W. Decherd, who controls over 96% of the voting power of Series B common stock [3] - Decherd confirmed his intent to vote in favor of the Hearst Merger Agreement and stated he would not support a sale to Alden or its affiliates [3] Group 3: Company Background - DallasNews Corporation is the holding company for The Dallas Morning News and Medium Giant, known for its strong journalistic reputation and community ties [4] - The Dallas Morning News has won nine Pulitzer Prizes, while Medium Giant has received multiple industry awards, including the AAF Addy and AMA DFW Annual Marketer of the Year Award [4]