Friday, March 29, 2024 Mar 29, 2024
70° F Dallas, TX
Advertisement
Local News

Ray Washburne Buys Former Dallas Morning News HQ

It’s a $28 million deal.
By Shawn Shinneman |
Image

Five months after a previous developer bowed out of a deal to buy the Dallas Morning News’ vacated campus in downtown Dallas, the newspaper has a new big-name investor ready to take it on.

Charter Holdings, owned by developer Ray Washburne, will buy the site at Young and Houston streets for $28 million from DMN-owner A.H. Belo, according to SEC paperwork filed late Friday afternoon. Taking into account interest paid over the next two years, the deal comes out to $31.6 million.

Washburne, who co-owns Highland Park Village and Mi Cocina-parent MCrowd Restaurant Group, also just bought a shopping center in West Dallas.

The DMN completed its move to Commerce Street inside the Statler in late 2017, after 68 years on Young. In late October of last year, the paper entered a deal with developers KDC and Mike Hoque, valued at $33 million for the 7.2 acres. But the deal never closed, and the paper said in December that KDC and Hoque Global were moving on.

The deal with Charter is done and closed, according to the SEC filing, with $5.6 million in cash changing hands today. It comes less than a month after a Belo shareholder took on an activist role, saying in a letter that it’s unhappy with the paper’s operations and suggesting that the company explore a sale.

Related Articles

Image
Arts & Entertainment

Here’s Who Is Coming to Dallas This Weekend: March 28-31

It's going to be a gorgeous weekend. Pencil in some live music in between those egg hunts and brunches.
Image
Arts & Entertainment

Arlington Museum of Art Debuts Two Must-See Nature-Inspired Additions

The chill of the Arctic Circle and a futuristic digital archive mark the grand opening of the Arlington Museum of Art’s new location.
By Brett Grega
Image
Arts & Entertainment

An Award-Winning SXSW Short Gave a Dallas Filmmaker an Outlet for Her Grief

Sara Nimeh balances humor and poignancy in a coming-of-age drama inspired by her childhood memories.
By Todd Jorgenson
Advertisement