Hearst to buy the Dallas Morning News

• The DMN purchase will put Hearst over the largest newspapers in Texas.

The intrigue: Hedge funds have taken over many newspapers across the country and gutted them.

• Hearst appears to be a better outcome for the DMN. The company also owns the Houston Chronicle, San Antonio Express-News, Austin American-Statesman and other smaller Texas news outlets.

Flashback: George Bannerman Dealey oversaw the launch of the Dallas Morning News in 1885.

• Under his leadership, the paper warned of the Ku Klux Klan's rapid growth in the city and published hundreds of articles unmasking Klan activities.
• Dealey's family has continued to own the newspaper for generations.

Zoom out: The DMN's former headquarters, known for its "Rock of Truth" facade, was at risk of being sold to a data center earlier this year.

• The Dallas City Council voted in April to buy large parts of the property from a developer for $52 million.

What we're watching: How the new owners will shape the DMN's staffing and future coverage.