Gannett Co., Inc. Makes Strides in Debt Reduction Strategy

The repayment was primarily funded through the proceeds from the sale of the Austin-American Statesman, finalized on February 28, 2025, in conjunction with cash reserves. This strategic move reinforces Gannett's commitment to reducing its debt obligations while simultaneously maintaining a healthy balance sheet and liquidity.

Michael Reed, Gannett’s Chairman and Chief Executive Officer, emphasized the importance of debt repayment within the company’s long-term strategy. He stated that the company has made measurable progress in this area and is focused on further improving its capital structure. Reed anticipates that Gannett will repay over $100 million of debt throughout 2025, primarily through asset sales and an expected increase in free cash flow.

Looking ahead, Gannett projects that its recent debt reduction, combined with anticipated growth in Adjusted EBITDA, will position the company to achieve a first lien net leverage ratio approaching 2.0x by the end of the year. This anticipated leverage improvement reflects Gannett’s ongoing commitment to enhancing its financial health and stability.

Gannett Co., Inc. is a diversified media company with a broad national and local presence, dedicated to empowering communities through journalism and digital marketing solutions. The company operates a network that includes the USA TODAY brand and various local media organizations across the United States, as well as Newsquest, a subsidiary in the United Kingdom. Gannett’s mission is to provide high-quality, trusted content and innovative digital marketing products, particularly through its LocaliQ brand, which serves small and medium-sized businesses.

As Gannett continues to focus on debt reduction and capital structure improvement, its recent actions may bolster investor confidence and enhance its competitive position in the media landscape.