Dallas' daily newspaper The Dallas Morning News has been acquired by New York-based Hearst, where it will join a portfolio of 28 daily and 50 weekly newspapers.

According to a release, the announcement was made on July 10 by Steven R. Swartz, president and CEO of Hearst, and Grant Moise, CEO of DallasNews Corporation and publisher of The Dallas Morning News.

Hearst's portfolio includes ownership in cable television networks such as A&E, HISTORY, Lifetime, and ESPN; 35 television stations; newspapers across the U.S., including the Houston Chronicle, San Francisco Chronicle, and Times Union (Albany); digital services businesses; and more than 200 magazine editions around the world.

The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close during the third or early fourth quarter. It will also include Medium Giant, DallasNews’ marketing agency.

Upon closing, The Dallas Morning News will join Hearst Newspapers, the operating group responsible for Hearst’s newspapers, local digital marketing services businesses and directories, which publishes 28 dailies and 50 weeklies across the United States.

The acquisition of the DMN will give Hearst nearly a complete set of Texas newspapers: In addition to the Houston Chronicle, it also owns the Austin American Statesman and the San Antonio Express News, as well as smaller Texas newspapers such as the Plainview Herald, the Midland Reporter Telegram, the Laredo Morning Times, and the Beaumont Enterprise. The only one missing is the Fort Worth Star Telegram, which is owned by McClatchy.

Jeff Johnson, president of Hearst Newspapers, stated, “Hearst Newspapers is committed to supporting The Dallas Morning News’ continued success through smart investments in their digital strategy, compelling journalism and expanded audience reach. This move aligns squarely with our strategy of backing trusted, high-impact local media brands in growth markets. We’re looking forward to working with the teams at The News and Medium Giant.”

Robert W. Decherd, DallasNews Corporation’s former board chairman, president and chief executive officer during a career spanning 50 years, and current owner of a majority of the voting power of DallasNews Corporation stock, said, “The News’ 140-year commitment to distinguished journalism has been extraordinarily important to the evolution of Dallas as one of America’s greatest cities. We have generations of News employees to thank for this. I’m confident that the path forward with Hearst Newspapers assures The News’ ability to continue informing and strengthening North Texas for many years to come.”

DallasNews shareholders will receive $14 in cash for each share of common stock - a premium of 219% based on the closing price of DallasNews’ common stock of $4.39 per share on July 9, 2025. The deal is valued at $79 million, according to the DMN. Upon closing of the transaction, DallasNews Corporation will become a private company and its shares will no longer trade on Nasdaq.