Independent Proxy Advisor ISS Recommends Shareholders Vote FOR DallasNews’ Merger with Hearst

Core Viewpoint - The merger between DallasNews Corporation and Hearst is recommended by leading proxy advisory firms, offering shareholders a significant premium of 242% over the current stock price, which is seen as a compelling value proposition for investors [1][2]. Summary by Sections Merger Recommendation - Institutional Shareholder Services Inc. (ISS) has advised shareholders to vote in favor of the merger with Hearst, highlighting the "triple-digit premium" and the cash offer of $15.00 per share [1][2]. - Glass, Lewis & Co. also supports the merger, marking it as a beneficial move for DallasNews shareholders [2]. Board Support - John A. Beckert, Chairman of the Board, emphasized the unanimous support from the Board and the largest shareholder for the merger, reinforcing the transaction's merits [3]. Voting Importance - The company urges shareholders to vote promptly to secure the substantial premium and ensure the future of DallasNews, noting that not voting equates to voting against the merger [4][5]. - The deadline for voting is September 22, 2025, at 10:59 p.m. CT, and shareholders are encouraged to reach out for assistance if needed [5]. Company Background - DallasNews Corporation operates The Dallas Morning News and Medium Giant, with a strong reputation in journalism and marketing, respectively [7]. - The Dallas Morning News has won nine Pulitzer Prizes, showcasing its commitment to quality journalism [7].