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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.
The Dallas Morning News has launched its online Voter Guide for North Texans ahead of the March 1, 2022 primary election.
This guide features candidate comparisons on key issues and a customizable sample ballot tool. The Editorial Board compiled the guide, which also includes links to recommendations for the general election and a list of 351 candidates across 123 races. DallasNews Corporation (Nasdaq: DALN) oversees this initiative, reinforcing its role as a strong community-based media source.
Medium Giant is the new name of Belo + Company, as announced by President Eric Myers on Dec. 13, 2021. This rebranding reflects the agency's evolution into a full-service media and marketing firm. Under DallasNews Corporation, Medium Giant offers clients across the U.S. a range of intelligence-driven, technology-enabled solutions. Myers emphasized that the name encapsulates the company's legacy while focusing on client growth. With offices in Dallas, Denver, and Tulsa, Medium Giant addresses various services, including branding, web development, and inbound marketing.
DallasNews Corporation (Nasdaq: DALN) has declared a quarterly cash dividend of $0.16 per share on December 2, 2021. This dividend is payable on March 4, 2022 to shareholders of record as of February 11, 2022. DallasNews Corporation is recognized as Texas's leading local news publisher, expanding into emerging media and digital marketing. The company maintains a robust infrastructure for commercial printing and distribution, aiming to deliver news innovatively to various audiences.
DallasNews Corporation (Nasdaq: DALN) reported a third quarter 2021 net income of $1.6 million or $0.30 per share, compared to a net loss of $0.1 million in Q3 2020. The operating loss was $2.6 million, with an adjusted operating loss of $1.2 million, reflecting increased employee costs and revenue-related expenses. Total revenue rose 1.5% to $38.3 million, driven by a 3.6% increase in advertising and marketing services revenue. Digital subscriptions saw significant growth, with a 42.5% increase in digital-only revenue. Cash and equivalents are at $34.7 million with no debt.
DallasNews Corporation (Nasdaq: DALN) will announce its third quarter 2021 financial results on October 26, 2021, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. CDT, which will be accessible via webcast on their investor relations website. A replay will be available after the call. DallasNews is noted for its leadership in local news and information publishing in Texas, with a focus on innovative media and marketing solutions.
DallasNews Corporation (Nasdaq: DALN) announced a quarterly cash dividend of $0.16 per share on September 22, 2021. This dividend will be paid on December 3, 2021 to shareholders of record by November 12, 2021. As a leading local news provider in Texas, DallasNews is expanding its presence in digital marketing and emerging media while maintaining traditional publishing and distribution capabilities.
DallasNews Corporation (Nasdaq: DALN) announced the election of Dunia A. Shive as a director on September 22, 2021. Shive brings 30 years of media industry experience, previously serving as CEO of Belo Corp. and senior vice president at TEGNA. She will participate in the compensation and management development committee, as well as the nominating and corporate governance committee. Shive’s election aims to enhance the board's perspective during DallasNews’ transition to a sustainable digital news provider. She will stand for re-election at the 2022 annual meeting.
DallasNews Corporation (Nasdaq: DALN) reported a net loss of $1.5 million, or $(0.28) per share, for Q2 2021, an improvement from a net loss of $3.4 million, or $(0.64) per share, in Q2 2020. Total revenue increased to $38.7 million, up 9.2% year-over-year, with advertising and marketing revenues rising by 19.3%. The company's cash position remains strong at $39 million with no debt. However, total operating expenses rose to $41.7 million, primarily due to increased employee compensation and advertising costs. A conference call discussing the results is scheduled for July 27, 2021.
DallasNews Corporation (Nasdaq: DALN) announced Katrice Hardy as the new Executive Editor of The Dallas Morning News, effective August 12, 2021. Hardy, a 26-year newspaper veteran and the first female and African American in this role, previously served as Executive Editor of the Indianapolis Star. Under her leadership, the Indianapolis Star won a Pulitzer Prize for investigative reporting. Hardy is known for her commitment to journalism, diversity, and audience growth, and aims to enhance the news organization's impact within the Dallas community.
DallasNews Corporation (Nasdaq: DALN) will publish its second quarter 2021 financial results on July 27, 2021, before market opening. A conference call will follow at 9:00 a.m. CDT, accessible via phone and web. The call will be archived on their Investor Relations website. DallasNews is a leading local news publisher in Texas, expanding in digital media and marketing.
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