Daily News Union
@nydnunion.bsky.social
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The unionized reporters and staff of New York's hometown newspaper, est. 2021
Too tough to die
https://nydnunion.com/
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![As I’ve written about three times recently, DallasNews has a once-common share structure where there are two classes of stock — one that trades on the open market and one that’s tightly controlled by the family that has long controlled the paper, the descendants of founder G. B. Dealey, he of the plaza. The most important of those descendants is Robert Decherd, who has been the company’s CEO for most of the past five decades. Decherd controls nearly all of the family’s shares, and that meant a sale of DallasNews couldn’t happen without his approval. And Decherd has been consistent that he does not want to feed his life’s work into Alden’s wood chipper:
“There is no circumstance under which I will change my mind [and sell to Alden], now or in the future,” Decherd wrote. “It is important to state that I have long since ceased to view my holdings in DallasNews Corporation as a financial asset. My sole objective is sustaining the journalistic quality and civic responsibility of The Dallas Morning News.”
That didn’t stop Alden Global Capital from making offer after offer, persistently confused by the concept of someone taking less money for better journalism. But Texas law is on Decherd’s side, DallasNews did the right lawyering, and Alden’s hopes for a new victim came down to today’s shareholder vote on the Hearst deal.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:7keeiuhmqfxim42c6tibwvzw/bafkreifuytcjod5lhk2vbwmd4r25pygaoupc3ti5vcwguia5vs4dq7tn74@jpeg)
