DallasNews Gets Surprise $16.50 Buyout Bid From Alden's MNG, Topping Hearst's $14 Offer Already in Place

DallasNews Corporation (NASDAQ:DALN) (the "Company" or "DallasNews"), the holding company of The Dallas Morning News and Medium Giant, today confirmed that it has received an unsolicited, non-binding proposal (the "MNG Proposal") from MNG Enterprises, Inc., an affiliate of Alden Global Capital, to acquire all of the issued and outstanding shares of the Company's common stock at a price of $16.50 per share in cash. The MNG Proposal is subject to certain conditions as set forth in the MNG Proposal.

As previously announced, on July 9, 2025, DallasNews entered into a definitive agreement (the "Merger Agreement") with Hearst, one of the nation's leading information, services and media companies, pursuant to which Hearst agreed to acquire all of the issued and outstanding shares of the Company's common stock at a price of $14.00 per share in cash.

Consistent with its fiduciary duties, the Board of Directors of DallasNews (the "Board") is carefully reviewing the MNG Proposal in consultation with its legal and financial advisors. DallasNews remains subject to the terms of the Merger Agreement, and the Board has not changed its recommendation in support of the merger under the Merger Agreement. The Board will provide further updates to its shareholders as appropriate.