Robert Decherd built a multibillion-dollar media empire around his family’s crown jewel, the Dallas Morning News, then watched as an industry collapse devastated his newspaper business.
Two years after retiring from the board of Morning News parent DallasNews Corp., Decherd has at least one more battle to fight, however. The 140-year-old paper has emerged as the subject of a surprise bidding war driven by Alden Global Capital, a New York investment firm, and Decherd is doing all he can to favor a different suitor — even though it’s offering less.