SCHEDULE 13D/A 0001688152 XXXXXXXX LIVE 4 Series A Common Stock, $0.01 par value 09/16/2025 false 0001413898 235050101 DallasNews Corp

P.O. Box 224866 Dallas TX 75222-4866

Guy Gilmore (303) 954-6450 MNG Enterprises, Inc. 5990 Washington Street Denver CO 80216 0001688150 Strategic Investment Opportunities LLC WC DE 0 470000 0 470000 470000 N 9.9 OO The percentage of Series A Common Stock (as defined herein) reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of August 14, 2025, as reported in the definitive proxy statement on Schedule 14A filed by the Issuer on August 15, 2025. 0001688152 MNG Enterprises, Inc. AF DE 0 470000 0 470000 470000 N 9.9 CO HC The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of August 14, 2025, as reported in the definitive proxy statement on Schedule 14A filed by the Issuer on August 15, 2025. 0001688212 MNG Investment Holdings LLC AF DE 0 470000 0 470000 470000 N 9.9 OO The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of August 14, 2025, as reported in the definitive proxy statement on Schedule 14A filed by the Issuer on August 15, 2025. 0001693074 Freeman Heath OO X1 0 470000 0 470000 470000 N 9.9 IN HC The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of August 14, 2025, as reported in the definitive proxy statement on Schedule 14A filed by the Issuer on August 15, 2025. 0001616882 Alden Global Capital LLC OO DE 0 470000 0 470000 470000 N 9.9 IA OO The percentage of Series A Common Stock reported as beneficially owned by the Reporting Person is based on 4,739,025 shares of Series A Common Stock outstanding as of August 14, 2025, as reported in the definitive proxy statement on Schedule 14A filed by the Issuer on August 15, 2025. Series A Common Stock, $0.01 par value DallasNews Corp P.O. Box 224866 Dallas TX 75222-4866 Pursuant to Rule 13d-2 of the Securities Exchange Act of 1934, as amended, this Amendment No. 4 to the Schedule 13D ("Amendment No. 4") amends certain items of the Schedule 13D filed with the Securities and Exchange Commission (the "Commission") on July 22, 2025 (the "Original Schedule 13D"), as amended and supplemented by Amendment No. 1 filed with the Commission on July 31, 2025, Amendment No. 2 filed with the Commission on August 11, 2025, and Amendment No. 3 filed with the Commission on August 19, 2025 (collectively, the "Schedule 13D"), relating to the Series A Common Stock, par value $0.01 per share (the "Series A Common Stock"), of DallasNews Corporation (the "Issuer"). All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Except as specifically provided herein, this Amendment No. 4 does not modify any of the information previously reported in the Schedule 13D. Item 4 of the Schedule 13D is hereby amended and supplemented as follows: On September 16, 2025, MNG delivered a letter to the Board (the "Improved Proposal Letter") setting forth the terms of its improved offer (the "Improved Proposal") to acquire all of the issued and outstanding shares of the Issuer's Common Stock not already owned by MNG for $20.00 per share in cash, which represents a $3.50 per share increase over its initial Proposal of $16.50 per share, a $2.50 per share increase over its Enhanced Proposal of $17.50 per share, and a $1.50 per share increase over its Further Enhanced Proposal of $18.50 per share. The foregoing description of the Improved Proposal Letter is qualified in its entirety by reference to the full text of the Improved Proposal Letter, a copy of which is included as Exhibit 99.8 to this Schedule 13D and is incorporated by reference in its entirety. Item 7 of the Schedule 13D is hereby amended and supplemented as follows: Exhibit Description Exhibit 99.8: Improved Proposal Letter to the Board, dated September 16, 2025 Strategic Investment Opportunities LLC /s/ Guy Gilmore 09/16/2025 MNG Enterprises, Inc. /s/ Guy Gilmore 09/16/2025 MNG Investment Holdings LLC /s/ Guy Gilmore 09/16/2025 Freeman Heath /s/ Heath Freeman 09/16/2025 Alden Global Capital LLC /s/ Heath Freeman 09/16/2025