A knowledgable FrontBurnervian (is there any other kind?) offers a political perspective:
I suspect that Fort Worth will be a problem. If you are going to make it work, you need to include Alliance. In the past Fort Worth refused to discuss Alliance, dismissing it as inconsequential to the Love Field debate and even following that line as FedEx moved operations to Alliance sucking money from DFW. If it’s just DFW and Love Field, Fort Worth will lead the effort. Even putting Meacham in the pot would be ok with them (Fort Worth continues to try to get commercial service at Meacham but there is obviously no market). But, throwing Alliance in the pot will change their view–especially since Dallas controls 2/3 of the board seats.
That’s why creating a Regional Airport Authority is too big of a hurdle. Instead, a purchase of Love Field allows it to happen almost organically. The next domino to fall, probably immediately, would be the Executive Airport owned by Dallas. The second would be Meacham. Alliance would happen if and when it makes sense. But it is not necessary. Sometimes it pays just to let things happen without a grand plan. There are plenty of benefits if it stops with Love.