Business Editor
The DallasNews Corporation has struck a deal to sell its Plano-based printing operation for $43.5 million, part of a previously-articulated strategy to shed assets and return to profitability.
In a regulatory filing posted Wednesday, the parent company of The Dallas Morning News said it entered into a Dec. 16 agreement with 2201 Luna Road LLC, which will reuse the building.
There is an inspection period that ends Jan. 17, in which 2201 Luna Road LLC must inform DallasNews Corporation of its intention to proceed with the sale; otherwise, the transaction will close Feb. 1.
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Katy Murray, president of DallasNews, previously said the company’s new printing facility will have considerably lower overhead.
DallasNews is transitioning to a smaller building in Carrollton that will house a new printing press, which is expected to be ready early next year. That decision will save the company some $5 million a year in expenses, and include shedding 85 jobs.
The Plano plant was built in the early 1980s and expanded in 1992. At that time, The Dallas Morning News was the No. 1 newspaper in the nation in total full-run advertising.
The company sold its historic downtown Dallas office building in 2019 to a local developer for $28 million. That property encompassed 7.2 acres in the southern section of the Central Business District at Houston and Young streets. It now leases the former Dallas Public Library building at 1954 Commerce St.
As media companies retrench in a fiercely competitive landscape dominated by digital platforms, The News still publishes a physical daily newspaper that remains part of the daily routine of many North Texans.
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