Dallas Morning News buys out rival paper
On this day in 1885, the Dallas Morning News bought out its major competitor, the Dallas Herald. The Herald was founded in 1849 by James W. Latimer and William Wallace, who purchased the Paris, Texas, Times and moved it to Dallas. The Herald remained a weekly paper until 1874, when it began publishing an edition every morning except Monday. The Morning News grew out of the Galveston News, established in 1842 by Samuel Bangs. By 1879 Alfred H. Belo, who had acquired control of the business, was investigating the possibility of establishing a sister paper in rapidly developing North Texas. When Belo's efforts to purchase the Herald failed, he sent George Bannerman Dealey to launch a new paper, the Morning News, which began publication on October 1, 1885. From the outset the Morning News enjoyed the double advantage of strong financial support and an accumulation of journalistic experience, and within a month and a half had absorbed its older rival.