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About DallasNews Corporation
DallasNews Corporation (NASDAQ: DALN) is a Dallas-based media and publishing company that holds a significant place in the Texas media landscape. The company is best known as the parent organization of The Dallas Morning News, one of Texas' most prominent daily newspapers with a rich history of journalistic excellence and a strong regional focus. With a mission to deliver high-quality, hyperlocal news and information, DallasNews Corporation serves the diverse and rapidly growing North Texas community, home to over 8 million residents.
Core Business Areas
The company operates through two primary divisions:
- The Dallas Morning News: A trusted source for news, investigative journalism, and cultural coverage, this publication has a long-standing reputation for serving the North Texas community with integrity and depth. Its offerings include print editions, digital subscriptions, and a robust online presence.
- Medium Giant: A full-service advertising and marketing agency that specializes in creating and delivering compelling stories to drive customer engagement. This division provides a diversified revenue stream and supports businesses with innovative marketing solutions.
Revenue Streams and Business Model
DallasNews Corporation generates revenue through multiple channels, including:
- Advertising and Marketing Services: This includes both print and digital advertising, although the company has faced challenges with declining print ad revenues. Digital marketing services offered by Medium Giant provide a growth avenue in this segment.
- Subscription Revenue: The company has made significant strides in growing its digital-only subscription base, reflecting a strategic shift toward sustainable, recurring revenue streams.
- Commercial Printing and Distribution: Leveraging its printing facilities, DallasNews Corporation provides commercial printing and third-party distribution services, adding another layer to its revenue model.
Industry Context and Challenges
The media industry is undergoing a profound transformation, with traditional print publications facing declining circulation and advertising revenues. DallasNews Corporation has proactively addressed these challenges by implementing cost-saving measures, such as transitioning to a smaller, more efficient printing facility and discontinuing certain print-only publications. The company's strategic focus on digital transformation and hyperlocal content positions it to compete effectively in an increasingly digital-first landscape.
Competitive Landscape
DallasNews Corporation operates in a highly competitive environment, facing competition from regional newspapers, national media organizations, and digital-first news platforms. Its differentiation lies in its deep regional expertise, hyperlocal coverage, and commitment to investigative journalism that addresses issues impacting the North Texas community.
Strategic Initiatives
Recent initiatives include the launch of new content sections like "High Profile," which showcases the diverse and influential personalities in the region, and the implementation of its "Return to Growth Plan." This plan focuses on achieving sustainable profitability through operational efficiencies, digital subscription growth, and strategic cost reductions.
Significance and Market Position
As a cornerstone of Texas journalism, DallasNews Corporation continues to play a vital role in informing and connecting the North Texas community. Its efforts to modernize operations and adapt to industry changes underscore its commitment to remaining a trusted and relevant media organization in an evolving landscape.
DallasNews Corporation (Nasdaq: DALN) reported a net loss of $2.6 million or $(0.49) per share for Q1 2023, matching the loss reported in Q1 2022. Total revenue decreased by $1.1 million (3.0%) to $35.2 million, driven by a decline in advertising and marketing services revenue by 5.9% to $15.3 million, primarily due to a 12.3% drop in print advertising. Circulation revenue remained stable at $16.0 million, with a notable 21.9% increase in digital-only subscription revenue offsetting print declines. Adjusted operating loss increased to $2.2 million from $1.6 million year-over-year. Operating expenses improved by 2.1% to $38.0 million, aided by $1.0 million in distribution expense savings. The company maintained a cash balance of $25.8 million with no debt. A financial results conference call is scheduled for April 25, 2023.
DallasNews Corporation (NASDAQ: DALN) announced that it will release its first quarter 2023 financial results on April 25, 2023, before the market opens. A conference call will take place at 9:00 a.m. CDT on the same day, allowing investors to gain insights into the company's performance.
The call will be accessible via a webcast on the DallasNews website, with an archive available afterwards. Investors can also listen in by dialing 1-877-226-8196, using access code 5560218. A replay will be offered post-event until May 1, 2023.
Operating in Dallas, DallasNews Corporation is recognized for its flagship property, The Dallas Morning News, and its media agency, Medium Giant, serving to enhance community engagement and business growth.
DallasNews Corporation (Nasdaq: DALN) reported a net loss of $2.1 million in Q4 2022, equating to $(0.40) per share, compared to a net income of $2.1 million, or $0.40 per share, in Q4 2021. For 2022, the net loss was $9.8 million, or $(1.83) per share. The total revenue for Q4 2022 was $39.1 million, down 3.6%, with advertising revenue declining by 7.0%. Total revenue for the year also decreased by $3.7 million, or 2.4%. Despite these losses, the company aims to achieve a sustainably profitable model through its Return to Growth Plan.
DallasNews Corporation (Nasdaq: DALN) will release its fourth quarter and full year 2022 financial results on March 10, 2023, prior to market opening. A conference call is scheduled for the same day at 9:00 a.m. CST, which will be broadcasted live via their website.
A replay will be available post-call. DallasNews Corporation, based in Dallas, operates The Dallas Morning News and Medium Giant.
DallasNews Corporation (Nasdaq: DALN) has declared a quarterly cash dividend of $0.16 per share, as announced on December 1, 2022. This dividend will be payable on March 3, 2023, to shareholders recorded by the close of business on February 10, 2023. The company, renowned for its flagship publication, The Dallas Morning News, continues to maintain its commitment to rewarding shareholders amidst a challenging media landscape.
DallasNews Corporation (Nasdaq: DALN) reported a net loss of $2.6 million or $(0.48) per share for Q3 2022, compared to a net income of $1.6 million or $0.30 per share in Q3 2021. Total revenue fell to $37.7 million, a decline of 1.6% from the previous year, attributed to a drop in advertising revenue. Despite a rise in digital-only subscriptions, overall advertising revenue decreased by 3.2%. Operating expenses improved by 2.2% to $40.0 million.
Cash and equivalents stood at $33.0 million with no debt, highlighting the company's liquidity.
DallasNews Corporation (Nasdaq: DALN) announced that it will release its third quarter 2022 financial results on October 26, 2022, before market opening. A conference call is scheduled for the same day at 9:00 a.m. CDT, during which results will be discussed. Interested parties can access the call via a dedicated phone line or through a webcast available on DallasNews’ website. A replay will be provided from October 26 until November 1, 2022. The company operates The Dallas Morning News and Medium Giant, focusing on local journalism and marketing.
DallasNews Corporation (Nasdaq: DALN) announced a quarterly cash dividend of $0.16 per share, declared on September 22, 2022. The dividend is payable on December 2, 2022 to shareholders on record as of November 10, 2022. This move signals the company's commitment to returning value to its shareholders amidst a challenging media landscape.
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