M&A - DallasNews Corp

Form Type: 8-K

Filing Date: 2025-03-13

Corporate Action: Acquisition

Type: New

Accession Number: 000141389825000012

Filing Summary: On March 11, 2025, The Dallas Morning News, Inc. completed the sale of its print facility and surrounding land at 3900 Plano Parkway, Plano, Texas for an aggregate purchase price of $43,500,000. The sale was executed under a previously disclosed Purchase and Sale Agreement with 2201 Luna Road, LLC. An escrow of $600,000 was established for potential environmental remediation costs, which would be covered by the buyer should the need arise, with unused funds being returned to TDMN by March 11, 2026 at the latest. On March 13, 2025, a press release was issued by the Company to announce the completion of the sale. The Company plans to use a portion of the proceeds to fully fund its pension liabilities through an irrevocable group annuity contract, transferring responsibility for pension obligations to an insurance company and ensuring that benefits are paid to participants without changes to the amount, timing, or form of payments.

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