Gannett Co Inc Stock Price, News & Analysis

Gannett Co., Inc. (NYSE: GCI) is set to release its third quarter 2021 financial results on November 5, 2021, prior to market opening. Management will hold a conference call at 8:30 A.M. ET. Interested parties can access the call by dialing 1-877-451-6152 or via webcast. A telephonic replay will be available post-call through November 19, 2021. Gannett is committed to empowering communities through its media and marketing solutions, with significant reach across the U.S. and U.K.

On October 15, 2021, Gannett Co., Inc. (NYSE: GCI) announced a five-year term loan facility worth $516 million through its subsidiary, Gannett Holdings LLC. The funds will refinance existing debt and lower capital costs by nearly 200 basis points. Gannett's Chairman, Michael Reed, noted that since acquiring legacy Gannett in November 2019, the company has reduced debt by $379 million and cut capital costs by 570 basis points.

The American Influencer Awards (AIA), part of Gannett (NYSE: GCI), will honor social media influencers across various categories including beauty, fashion, fitness, and lifestyle. Hosted by Andy Cohen, the event will be broadcast on-demand on November 3 at 8 p.m. EDT on the USA TODAY News Channel and its YouTube channel. This year, over five million votes were cast for finalists, which showcases the growing impact of influencers. The inaugural AIA Advisory Board, comprising industry experts, will oversee the award process to ensure fairness and inclusivity.

Gannett Co., Inc. (NYSE: GCI) has priced $400 million of 6.00% senior secured notes due 2026, set to close on October 15, 2021. The funds will be used, alongside a new secured credit agreement, to repay an existing term loan. Additionally, Gannett intends to enter a new senior secured term loan of up to $550 million, with an interest rate of LIBOR plus a 5.00% margin. The Senior Notes will not be registered under the Securities Act and are offered only to qualified institutional buyers and certain non-U.S. persons.

The USA TODAY NETWORK, part of Gannett Co. (NYSE: GCI), announced over $5.4 million in grants from its A Community Thrives program to support 16 non-profit organizations across the U.S. The grants include $800,000 in National Project Grants, $1.3 million in Local Operating Grants, and $200,000 in fundraising incentives. The crowdfunding initiative raised an additional $3.1 million. Since its inception in 2017, the program has allocated more than $17.6 million to promote community-building projects.

Gannett Co. (NYSE: GCI) has announced a $400 million offering of senior secured notes due 2026, aiming to repay existing term loans. The notes will be secured by assets of the Issuer and material domestic subsidiaries. A new senior secured term loan of up to $550 million is also being pursued, which depends on the successful offering. The notes are offered to qualified institutional buyers under Rule 144A of the Securities Act.

Gannett operates numerous media assets, including USA TODAY and local news organizations across 46 states, focusing on digitally-driven marketing solutions.

Gannett (NYSE: GCI) announced an initiative to refinance its existing term loan through a new senior secured term loan and the issuance of senior secured notes. The refinancing is intended to lower the overall debt burden, with a proposed loan of up to $550 million. In Q3 2021, Gannett repaid $65 million of its existing loan, reducing the principal to $925.7 million. However, the company anticipates a slight decline in overall revenue year-over-year, though adjusted EBITDA is expected to grow. Operational challenges include inflation and COVID-19 impacts.

Gannett Co. (NYSE: GCI) has launched USA TODAY Sports+, a new premium digital subscription service aimed at sports enthusiasts. Offering immersive content, the platform includes interactive features like augmented reality, podcasts, and real-time betting odds through a partnership with Tipico. Initially available in seven markets, it aims to enrich the subscriber experience and promote engagement with local sports teams. Gannett plans to invest in top-tier sports journalism to attract a diverse audience, targeting 10 million subscribers by 2025.

Gannett Co. (NYSE: GCI) announces Nate Rackiewicz as Chief Data Officer, a new role focused on enhancing the company's data strategy and analytics. Rackiewicz joins from Take-Two Interactive, bringing over 20 years of experience in data science. His appointment aims to strengthen Gannett's data-driven culture and customer engagement. He will oversee initiatives in customer identity and analytics across all business units, reporting to Chief Marketing and Strategy Officer Mayur Gupta. This move is part of Gannett's transformation into a subscription-led content platform.