Bidding War Escalates for Last Outpost of Dallas Media Dynasty
Robert Decherd built a multibillion-dollar media empire around his family’s crown jewel, the Dallas Morning News, then watched as an industry collapse devastated his newspaper business.
Two years after leaving the board of Morning News parent DallasNews Corp., Decherd has at least one more battle to fight, however. The 140-year-old paper has emerged as the subject of a surprise bidding war driven by investment firm Alden Global Capital, but Decherd is doing all he can to favor a less valuable offer from a suitor he says will be a better steward for the paper.