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- DallasNews (NASDAQ:DALN) mentioned on Tuesday it plans to relocate and optimize its print operations, at the moment situated in Plano, Texas.
- Shares of the mum or dad firm of The Dallas Morning Information fell 8.2% in prolonged buying and selling.
- DALN added it’ll streamline its printing operations right into a smaller, leased facility in Carrollton, Texas, and make capital investments in additional environment friendly expertise.
- The brand new facility is anticipated to require about 60 % fewer workers, equal to about 85 fewer workers, DALN mentioned.
- As soon as the transition is accomplished, DALN expects to profit from annual expense financial savings of ~$5M.
- The corporate expects the transition to allow The Information to maintain its operations in North Texas and proceed to provide a seven-day print version for the foreseeable future.
- In line with DALN, the brand new facility is anticipated to be operational in early 2025.
- DALN mentioned it’s conducting a market examine and assessing the perfect future use for its Plano property, together with a possible sale of the property.
- “The Information doesn’t count on any interruption in subscriber or distribution providers from this modification and can proceed to print and ship on its present schedule,” DALN mentioned.
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