By Colin Kellaher

DallasNews has rejected an increased buyout proposal from investment firm Alden Global Capital and once again urged its shareholders to support its deal to be acquired by publishing giant Hearst.

Alden, which already owns nearly 10% of DallasNews, earlier this week raised its non-binding proposal to buy the rest of the Dallas company to $20 a share from $18.50.

Alden's new bid is 21% higher than the $16.50 a share Hearst has agreed to pay for the publisher of the Dallas Morning News.

DallasNews on Thursday said its board reviewed and rejected Alden's non-binding bid, saying it isn't reasonably likely to lead to a superior proposal.

Robert Decherd, who controls more than 50% of DallasNews' voting power and can block any takeover, said he remains "totally committed" to the Hearst transaction and reiterated that there is no scenario in which he will vote in favor of a deal with Alden.

Decherd is the great-grandson of a Dallas Morning News co-founder.

DallasNews said it recommends that its shareholders vote in favor of Hearst's recently increased offer and once again warned that DallasNews will remain a public company and that its shares could return to their pre-announcement trading value of about $4 if the Hearst deal is voted down.

DallasNews shares closed Wednesday at $15.76.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 18, 2025 07:31 ET (11:31 GMT)

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