Dallas Morning News shareholders approved the sale of the paper to Hearst Corp. Tuesday, marking the end of about 140 years of local control.

DallasNews Corp., the holding company for The Dallas Morning News and marketing agency Medium Giant, announced the deal in a press release.

The News was one of the last independently owned daily papers in the region. It was founded in 1885.

DallasNews Corp. is valued at $74.9 million and its shareholders will get an all cash consideration of $16.50 per share, the company said.

This is a developing story and will be updated.

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