Exhibit 99.1

DallasNewsCorporationAnnouncesFirstQuarter2024Financial Results

DALLAS–  DallasNewsCorporation(Nasdaq:DALN)(the “Company”) todayreporteda  firstquarter2024net lossof $1.4 million, or $(0.25)pershare, and an operating loss of $1.8 million.  In thefirst quarterof 2023,  the Company reported a  net loss  of  $2.6 million, or $(0.49)per share, and an operating loss of $2.8million.

For the first quarterof 2024, on a non-GAAP basis, DallasNewsreported an operating lossadjusted for certain items (“adjusted operating loss”) of $0.8million, an improvement of $1.4millionor 64.0 percent whencompared to an adjusted operating loss of $2.2 millionreported in the first quarterof 2023. The improvement is primarily due to expense savings of $2.5 million in distribution, $1.6 million in employee compensation and benefits, and $0.9 million in newsprint, partially offset by a total revenue decline of $4.1 million.The$2.5 million expense savings in distribution and total revenue decline of $4.1 million are primarily the result of the Company’s strategic decision to exitits shared mail program to deliver weekly preprintsand discontinue print-only editions of its niche publicationsat the end of  August 2023.

Grant Moise, Chief Executive Officer, said,  “I am pleased with the progress we saw in the first quarter reducing our adjusted operating loss 64 percent on a year-over-year basis. This improvement is consistent with the Company’s Return to Growth Plan and reassures me we are on the right path towards future profitability. From its inception, the Return to Growth Plan was designed to allow the Company to maintain a newsroom large enough to provide the North Texas market with exceptional journalism that responsibly serves over eight million residents, and we remain committed to this essential element of our Plan.

DallasNewsCorporationAnnouncesFirst Quarter 2024Financial Results

May 15, 2024

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“Yesterday we announced that we will be relocating and streamlining our print operations from Plano to a smaller facility in Carrollton. We expect this transition to be completed in early 2025 and to generate $5.0 million of annualized operating expense savings, which is a pivotal step in our path to become a sustainably profitable enterprise. While we make this transition, we will evaluate opportunities for the 29 acres of property that we own in Collin County, including a potential sale.”

FirstQuarter Results

Total revenue was $31.1million in the first quarterof 2024,  a decrease of $4.1million or11.6percent when compared to thefirst quarterof 2023.

Revenue from advertising and marketing services, including print and digital revenues, was $11.6 million in the  first quarterof 2024,  a decrease of $3.7 million or 23.9percent when compared to the $15.3million reported for the first quarter of 2023.The decline is primarily due to a $3.6 milliondecrease in preprint advertising revenueas a result of the Company ending its shared mail program.

Circulation revenue was $16.3million in the first quarterof 2024,  an increase of $0.3 million or 1.8 percent when compared to the $16.0 million reported for the first quarterof 2023.The digital-only subscription revenue increase of $0.9 million or 25.2 percent offset the print circulation revenue decline of $0.6 million or 5.0percent.

Printing, distribution and other revenue was $3.2 million, a decrease of $0.7 million or 18.7 percent when compared to the first quarter of 2023, primarily due to a decline in revenue from commercial printing and distribution, and mailed advertisements for business customers.

DallasNewsCorporationAnnouncesFirst Quarter 2024Financial Results

May 15, 2024

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Total consolidated operating expense in the first quarterof 2024, on a GAAP basis,was $32.9million, an improvement of $5.1 million or 13.4 percent when compared to the first quarterof 2023. The improvement is primarily due to expense savings of $2.5 million in distribution, $1.3 million in employee compensation and benefits,  including severance, and$0.9 million in newsprint.

On a non-GAAP basis,adjusted operating expensewas$31.9 million, an improvement of $5.5 millionor 14.7 percent whencompared to the first quarterof2023.

As of March 31,  2024,  the Company had 531 employees, aheadcount decrease of 121or 18.6 percent whencompared to the prior year period, resulting from the 2023 Voluntary Severance Program participants and additional first quarter headcount reductions. Cash and cash equivalents along with short-term investments were $18.4 million and the Company had no debt.

DallasNewsCorporationAnnouncesFirst Quarter 2024Financial Results

May 15, 2024

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Non-GAAPFinancialMeasures

Reconciliationsof operating loss to adjusted operating loss, andtotal operating costs and expense to adjusted operating expense areincludedin the exhibits to this release.

DallasNewsCorporationAnnouncesFirst Quarter 2024Financial Results

May 15, 2024

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Financial Results Conference Call

DallasNews Corporation will conduct a conference call on Thursday,  May16,2024, at 9:00 a.m. CDT to discuss financial results. The conference call will be available via webcast by accessing the Company’s website atinvestor.dallasnewscorporation.com/events.  An archive of the webcast will be available at dallasnewscorporation.com in the Investor Relations section.

To access the listen-only conference call, dial 1-844-291-4185 and enter the following access code when prompted:  6757376.A replay line will be available at 1-866-207-1041 from  12:00 p.m. CDT on May16,2024 until 11:59p.m. CDT on May22,2024.  The access code for the replay is 4664664.

DallasNewsCorporationAnnouncesFirst Quarter 2024Financial Results

May 15, 2024

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AboutDallasNewsCorporation

DallasNews Corporation is the Dallas-based holding company of The Dallas Morning News and MediumGiant.TheDallasMorningNews is Texas’ leading daily newspaper with an excellent journalistic reputation, intense regional focus and close community ties. With offices in Dallas and Tulsa, Medium Giant is a full-service advertising agency dedicated to designing, creating and delivering stories that drive customers to act. For additional information, visit dallasnewscorporation.com or email invest@dallasnews.com. 

Statements in this communication concerning the Company’s planned transition of print operations, expected capital investments and expense savings related to the transition, the Company’s business outlook or future economic performance, revenues, expenses, cash balance, investments, business initiatives, working capital, dividends,future financings, 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 set forth in forward-looking 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; volatility in the North Texas real estate market; consumers’ tastes; newsprint and distribution prices; program costs; theCompany’s ability to successfully execute the Return to Growth Plan; 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 board of directors will approve dividends 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 filing, are not updated to reflect events or circumstances after the date of the statement.

DallasNews Corporation and Subsidiaries

Consolidated Statements of Operations

	Three Months Ended March 31,
In thousands, except share and per share amounts (unaudited)	2024		2023
Net Operating Revenue:
Advertising and marketing services	$	11,646	$	15,309
Circulation		16,300		16,011
Printing, distribution and other		3,156		3,882
Total net operating revenue		31,102		35,202
Operating Costs and Expense:
Employee compensation and benefits		16,117		17,373
Other production, distribution and operating costs		15,059		18,028
Newsprint, ink and other supplies		1,284		2,184
Depreciation		398		373
Total operating costs and expense		32,858		37,958
Operating loss		(1,756)		(2,756)
Other income, net		611		362
Loss Before Income Taxes		(1,145)		(2,394)
Income tax provision		218		232
Net Loss	$	(1,363)	$	(2,626)
Per Share Basis (1)
Net loss
Basic	$	(0.25)	$	(0.49)
Number of common shares used in the per share calculation:
Basic		5,352,490		5,352,490

(1) The Company’s Series A and Series B common stock equally share in the distributed and undistributed earnings. There were no options or RSUs outstanding as ofMarch 31,  2024and 2023, that would result in dilution of shares or the calculation of EPS under the two-class method as prescribed under ASC 260 – Earnings Per Share.

DallasNews Corporation and Subsidiaries

Consolidated Balance Sheets

	March 31,		December 31,
In thousands (unaudited)	2024		2023
Assets
Current assets:
Cash and cash equivalents	$	7,946	$	11,697
Short-term investments		10,478		10,781
Accounts receivable, net		8,582		9,923
Other current assets		6,508		4,532
Total current assets		33,514		36,933
Property, plant and equipment, net		6,767		7,099
Operating lease right-of-use assets		15,652		16,141
Deferred income taxes, net		260		271
Other assets		1,785		1,790
Total assets	$	57,978	$	62,234
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$	3,660	$	3,963
Accrued compensation and other current liabilities		7,878		10,449
Contract liabilities		10,593		9,511
Total current liabilities		22,131		23,923
Long-term pension liabilities		16,766		17,353
Long-term operating lease liabilities		16,356		16,924
Other liabilities		1,028		1,076
Total liabilities		56,281		59,276
Contingent liabilities
Total shareholders' equity		1,697		2,958
Total liabilities and shareholders’ equity	$	57,978	$	62,234

DallasNews Corporation - Non-GAAP Financial Measures

Reconciliation of Operating Loss to Adjusted OperatingLoss

	Three Months Ended March 31,
In thousands (unaudited)	2024		2023
Total net operating revenue	$	31,102	$	35,202
Total operating costs and expense		32,858		37,958
Operating Loss	$	(1,756)	$	(2,756)
Total operating costs and expense	$	32,858	$	37,958
Less:
Depreciation		398		373
Severance expense		578		217
Adjusted Operating Expense	$	31,882	$	37,368
Total net operating revenue	$	31,102	$	35,202
Adjusted operating expense		31,882		37,368
Adjusted Operating Loss	$	(780)	$	(2,166)

The Company calculates adjusted operating income (loss) by adjusting operating income (loss) to exclude depreciation, severance expense, (gain) loss on sale/disposal of assets, and asset impairments (“adjusted operating income (loss)”). The Company believes that inclusion of certain noncash expenses and other items in the results makes for more difficult comparisons between years and with peer group companies.

Adjusted operating income (loss)is not a measure of financial performance under generally accepted accounting principles (“GAAP”). Management uses adjusted operating income (loss)and similar measures in internal analyses as supplemental measures of the Company’s financial performance, and for performance comparisons versus its peer group of companies. Management uses this non-GAAP financial measure for the purposes of evaluating consolidated Company performance. The Company therefore believes that the non-GAAP measure presented provides useful information to investors by allowing them to view the Company’sbusiness through the eyes of management and the Board of Directors, facilitating comparison of results across historical periods and providing a focus on the underlying ongoing operating performance of its business. Adjusted operating income(loss) should not be considered in isolation or as a substitute for net income (loss), cash flows provided by (used for) operating activities or other comparable measures prepared in accordance with GAAP. Additionally, this non-GAAP measure may not be comparable to similarly-titled measures of other companies.