DallasNews, the holding company of The Dallas Morning News and Medium Giant, announced that shareholders approved the company’s pending merger with Hearst at the company’s Special Meeting of Shareholders held on Tuesday. As outlined in the Merger Agreement, DallasNews (DALN)shareholders will receive an all cash consideration of $16.50 per share of DallasNews common stock, and DallasNews will cease to trade as a public company. “We would like to thank DallasNews shareholders for voting to approve this important and value creating merger with Hearst, and for securing the future of DallasNews,” said John A. Beckert, Chairman of the Board, DallasNews. “We are proud to have delivered this compelling and certain premium for shareholders, and are confident that The Dallas Morning News and Medium Giant have a bright future ahead as members of the Hearst family.” The transaction is expected to close on or about September 24.
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