08:02 AM EDT, 08/27/2025 (MT Newswires) -- DallasNews ( DALN ) said Wednesday its board has rejected a revised, non-binding proposal to acquire all of its issued and outstanding common stock at $18.50 per share in cash from Alden Global Capital affiliate MNG Enterprises.

After a review of the revised proposal, the board determined it was "not a superior proposal and not reasonably likely to lead to a superior proposal" from an amended offer from Hearst in July, the company said.

DallasNews ( DALN ) in July signed an agreement to be acquired by Hearst. Under Hearst's proposal, amended in late July, DallasNews ( DALN ) shareholders will receive $15 per share in cash.

Shareholders of record as of Aug. 14 are entitled to vote at the company's special shareholders' meeting Sept. 23.

DallasNews ( DALN ) is the holding company of The Dallas Morning News and Medium Giant.

Shares of DallasNews ( DALN ) were up nearly 3% in recent Wednesday premarket activity.