DALLAS — Alden Global Capital increased its offer to buy the DallasNews Corporation, the parent company of the Dallas Morning News.

Separately, the DallasNews Corporation board called a shareholder meeting on Sept. 23 and urged its shareholders to vote to approve a proposed merger with Hearst.

In July, The Dallas Morning News announced that it will merge with Hearst, one of the nation's leading technology and media companies. Shortly after, MNG Enterprises Inc., a subsidiary of Alden Global Capital, submitted a competing bid for DallasNews Corporation.

To date, MNG has increased its bid three times, increasing its nonbinding offer from $16.50 per share to $18.50 per share in cash, according to a press release from MNG. The offer is $3.50 more than Hearst's offer of $15.

The Dallas

See Full Page