DallasNews Corporation Closes Sale of its North Plant Printing Facility in Plano, TX
DallasNews (DALN) has completed the sale of its Plano, TX printing facility for $43.5 million, following the announcement made on December 16, 2024. The company plans to streamline operations by moving to a smaller, leased facility in Carrollton, Texas.
A portion of the proceeds will be used to fully fund the company's pension liabilities, benefiting over 1,300 current and former employees. The former Dallas Morning News facility will be repurposed by Denago EV, a Low Speed Vehicles and golf cart technologies company, as their Southern U.S. production and manufacturing base.
This transaction is part of DallasNews Corp.'s Return to Growth Plan. The company operates The Dallas Morning News, a nine-time Pulitzer Prize-winning newspaper, and Medium Giant, an award-winning creative marketing agency with offices in Dallas and Tulsa.
DallasNews (DALN) ha completato la vendita del suo impianto di stampa a Plano, TX, per 43,5 milioni di dollari, a seguito dell'annuncio effettuato il 16 dicembre 2024. L'azienda prevede di semplificare le operazioni trasferendosi in una struttura più piccola in affitto a Carrollton, Texas.
Una parte del ricavato sarà utilizzata per finanziare completamente le passività pensionistiche dell'azienda, a beneficio di oltre 1.300 dipendenti attuali e passati. Il precedente impianto del Dallas Morning News sarà riutilizzato da Denago EV, un'azienda che si occupa di veicoli a bassa velocità e tecnologie per carrelli da golf, come base per la produzione e la manifattura nel sud degli Stati Uniti.
Questa transazione fa parte del Piano di Ritorno alla Crescita di DallasNews Corp. L'azienda gestisce The Dallas Morning News, un giornale vincitore di nove premi Pulitzer, e Medium Giant, un'agenzia di marketing creativo premiata con uffici a Dallas e Tulsa.
DallasNews (DALN) ha completado la venta de su instalación de impresión en Plano, TX, por 43,5 millones de dólares, tras el anuncio realizado el 16 de diciembre de 2024. La compañía planea optimizar sus operaciones trasladándose a una instalación más pequeña en alquiler en Carrollton, Texas.
Una parte de los ingresos se utilizará para financiar completamente las obligaciones de pensiones de la empresa, beneficiando a más de 1.300 empleados actuales y anteriores. La antigua instalación de Dallas Morning News será reutilizada por Denago EV, una empresa de vehículos de baja velocidad y tecnologías de carritos de golf, como su base de producción y fabricación en el sur de EE. UU.
Esta transacción es parte del Plan de Retorno al Crecimiento de DallasNews Corp. La empresa opera The Dallas Morning News, un periódico galardonado con nueve premios Pulitzer, y Medium Giant, una agencia de marketing creativo premiada con oficinas en Dallas y Tulsa.
달라스뉴스 (DALN)는 2024년 12월 16일 발표에 따라 4,350만 달러에 플라노, 텍사스 인쇄 시설의 판매를 완료했습니다. 회사는 텍사스 캐롤턴에 있는 더 작고 임대된 시설로 이전하여 운영을 간소화할 계획입니다.
수익의 일부는 1,300명 이상의 현재 및 이전 직원의 연금 부채를 전액 자금 지원하는 데 사용될 것입니다. 이전 달라스 모닝 뉴스 시설은 저속 차량 및 골프 카트 기술 회사인 데나고 EV에 의해 미국 남부의 생산 및 제조 기지로 재사용될 것입니다.
이번 거래는 달라스뉴스 코퍼레이션의 성장 복귀 계획의 일환입니다. 이 회사는 아홉 번의 퓰리처상을 수상한 신문인 The Dallas Morning News와 달라스 및 털사에 사무소를 둔 수상 경력이 있는 창의적 마케팅 에이전시인 Medium Giant를 운영하고 있습니다.
DallasNews (DALN) a finalisé la vente de son site d'impression à Plano, TX, pour 43,5 millions de dollars, suite à l'annonce faite le 16 décembre 2024. L'entreprise prévoit de rationaliser ses opérations en déménageant dans un site plus petit en location à Carrollton, Texas.
Une partie des recettes sera utilisée pour financer intégralement les obligations de retraite de l'entreprise, bénéficiant à plus de 1.300 employés actuels et anciens. L'ancien site de Dallas Morning News sera réutilisé par Denago EV, une entreprise spécialisée dans les véhicules à basse vitesse et les technologies de chariots de golf, comme base de production et de fabrication dans le sud des États-Unis.
Cette transaction fait partie du Plan de Retour à la Croissance de DallasNews Corp. L'entreprise gère The Dallas Morning News, un journal lauréat de neuf prix Pulitzer, et Medium Giant, une agence de marketing créatif primée avec des bureaux à Dallas et Tulsa.
DallasNews (DALN) hat den Verkauf seines Druckereibetriebs in Plano, TX, für 43,5 Millionen Dollar abgeschlossen, nachdem die Ankündigung am 16. Dezember 2024 gemacht wurde. Das Unternehmen plant, die Abläufe zu straffen, indem es in eine kleinere, gemietete Einrichtung in Carrollton, Texas, umzieht.
Ein Teil des Erlöses wird verwendet, um die Pensionsverpflichtungen des Unternehmens vollständig zu finanzieren, was über 1.300 aktuellen und ehemaligen Mitarbeitern zugutekommt. Die ehemalige Dallas Morning News-Anlage wird von Denago EV, einem Unternehmen für Niedriggeschwindigkeitsfahrzeuge und Golfwagen-Technologien, als Produktions- und Fertigungsbasis im Süden der USA umgenutzt.
Diese Transaktion ist Teil des Wachstumsplans von DallasNews Corp. Das Unternehmen betreibt The Dallas Morning News, eine Zeitung, die neunmal mit dem Pulitzer-Preis ausgezeichnet wurde, und Medium Giant, eine preisgekrönte kreative Marketingagentur mit Büros in Dallas und Tulsa.
- Sale of Plano printing facility completed for $43.5 million
- Strategic move to reduce operational costs by transitioning to smaller leased facility
- Full funding of pension liabilities, eliminating company debt
- Successful execution of part of the Return to Growth Plan
- Reduction in owned real estate assets
- Operational transition risks to new leased facility
Insights
DallasNews 's sale of its Plano printing facility for
The strategic decision to allocate proceeds toward fully funding pension liabilities is particularly significant. By eliminating what management views as debt, DALN is substantially de-risking its financial profile while providing certainty for retirement benefits to over 1,300 stakeholders. This liability reduction should improve financial flexibility and potentially enhance future borrowing capacity if needed.
This transaction aligns with the company's broader operational restructuring, as they consolidate printing operations into a smaller leased facility in Carrollton. This shift from owning to leasing demonstrates a pivot toward asset-light operations, which should reduce fixed costs and improve operational efficiency.
The characterization of this sale as "an important milestone" in their Return to Growth Plan suggests this is part of a larger strategic transformation. By monetizing an underutilized asset and eliminating pension obligations, management appears to be positioning DALN for improved financial performance and potential future growth initiatives.
DALLAS, March 13, 2025 (GLOBE NEWSWIRE) -- DallasNews Corporation (Nasdaq: DALN) (the “Company” or “DallasNews Corp.”) today announced that it has closed on the sale of its Plano, TX printing facility for total proceeds of
DallasNews Corp. plans to use a portion of the proceeds from the sale to voluntarily fully fund the Company’s pension liabilities – eliminating what the Company views as debt.
Grant Moise, DallasNews Corp.’s Chief Executive Officer, stated, “We are very pleased with the financial outcome from the sale of our Plano facility. This is an important milestone in our Return to Growth Plan and the additional value of voluntarily fully-funding our pension plan brings certainty regarding retirement benefits for more than 1,300 current and former employees.”
Moving forward, Dallas, Texas-based Denago EV - a leading pioneer in the Low Speed Vehicles (LSVs) and cutting-edge golf cart technologies - will utilize the former Dallas Morning News facility in Plano as its Southern U.S. production and manufacturing base.
About DallasNews Corporation
DallasNews Corporation is the Dallas-based holding company of The Dallas Morning News and Medium Giant.
The Dallas Morning News, Texas’ leading daily newspaper, is renowned for its excellent journalistic reputation, intense regional focus, and close community ties. As a testament to its commitment to quality journalism, the publication has been honored with nine Pulitzer Prizes.
Medium Giant, an integrated creative marketing agency with offices in Dallas and Tulsa, works with a roster of premium brands and companies. In 2024, the agency earned top industry recognition, winning an AAF Addy and the AMA DFW Annual Marketer of the Year Award for Campaign of the Year, along with six prestigious Davey Awards. Medium Giant is a wholly owned business of DallasNews Corporation. For additional information, visit mediumgiant.co.
Statements in this communication concerning the Company’s planned use of the proceeds from the sale of its Plano, TX printing facility, the Company’s planned transition of print operations and other financial and non-financial items that are not historical facts are “forward-looking statements” as the term is defined under applicable federal securities laws. Words such as “anticipate,” “assume,” “believe,” “can,” “could,” “estimate,” “forecast,” “intend,” “expect,” “may,” “project,” “plan,” “seek,” “should,” “target,” “will,” “would” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements. Such risks, trends and uncertainties are, in most instances, beyond the Company’s control, and include changes in advertising demand and other economic conditions; the timeline for transitioning print operations; consumers’ tastes; newsprint and distribution prices; program costs; the Company’s ability to successfully execute the Return to Growth Plan; the Company’s ability to maintain compliance with the continued listing requirements of The Nasdaq Capital Market; the success of the Company’s digital strategy; labor relations; cybersecurity incidents; and technological obsolescence. Among other risks, there can be no guarantee that the Company’s board of directors will approve a quarterly dividend in the future or that the Company’s financial projections are accurate, as well as other risks described in the Company’s Annual Report on Form 10-K and in the Company’s other public disclosures and filings with the Securities and Exchange Commission. Forward-looking statements, which are as of the date of this communication, are not updated to reflect events or circumstances after the date of the statement.
Contact:
Katy Murray
214-977-8869
KMurray@dallasnews.com
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