Gannett Co Stock Price, News & Analysis

Gannett Co., Inc. (GCI) announced the early termination of its external management agreement with FIG LLC, effective December 31, 2020. CEO Michael Reed will transition to a direct employment role from January 1, 2021. The termination aims to generate savings and enhance transparency in executive compensation. Gannett plans a one-time payment of $30.375 million to FIG, which will not affect its debt repayment strategy. The company reported a reduction in term loan balances and improved revenue trends in late 2020, positioning itself to enhance shareholder value moving forward.

Gannett Co., Inc. (NYSE: GCI) announced it repaid $647 million of its 11.5% term loan, lowering the balance to $1.082 billion. This repayment was financed through $497 million from issuing senior secured convertible notes, $135 million from asset sales, and $15 million from excess cash. The company expects to reduce debt further by $100 million by early 2021. This move lowers annual interest payments by $45 million and enhances confidence in refinancing the remaining term loan. Current total debt stands at $1.582 billion.

On December 6, the third American Influencer Awards celebrated top influencers in beauty, hosted by Frankie Grande and Kandee Johnson. This year, a record of over 4.5 million votes determined the winners across various categories including makeup, hair, and skincare. Notable personalities like Tyra Banks and Kris Jenner presented 23 awards. The event was produced in a virtual format due to the inability to host a live ceremony. MGM sponsored the awards, further enhancing its position in the influencer recognition space.

The American Influencer Association (AIA) announces the third annual American Influencer Awards, co-hosted by Frankie Grande and Kandee Johnson, set for December 6. The awards celebrate social media beauty influencers across various categories, with public voting from October 1 to October 31 generating a record 4.5 million votes. The event will be streamed live at 9 PM ET on AIAawards.com. Sponsors include BoxyCharm and The GloZell Show. AIA promotes positivity and recognition in the influencer community.

Gannett Co., Inc. (NYSE: GCI) has successfully refinanced approximately $500 million of its 11.5% term loan, replacing it with 6.0% convertible notes due in 2027. This move lowers annual interest expenses by around $28 million and reduces the outstanding term loan to $1.118 billion. Gannett plans to utilize these savings for accelerated debt repayment. The refinancing, unanimously approved by its Board, is expected to enhance the company's capital structure and improve revenue trends for strong future performance.

Gannett Co., Inc. (NYSE:GCI) reported third-quarter 2020 results, highlighting a rebound from COVID-19 impacts. Adjusted EBITDA rose to $88 million, up from $78 million in Q2, despite a 19.6% year-over-year decline in same-store revenues. Digital subscriptions surpassed 1 million, with growth exceeding 31%. The company is focused on a subscription-led model and plans to reduce $100 million in debt by early next year. Cash reserves were at $189 million, with total debt at $1.732 billion. Revenue reached $814.5 million, boosted by the acquisition of Legacy Gannett.

Gannett Co. (NYSE: GCI) will announce its third quarter 2020 financial results on November 3, 2020, before the NYSE opens. The management will host a conference call at 8:30 A.M. ET on the same day, accessible by phone and via a live webcast for the public. A telephonic replay will be available post-call until November 19, 2020. Gannett, a digitally focused media and marketing solutions company, operates several media brands, including USA TODAY, and has a significant presence in both the U.S. and the U.K.

Gannett Co. (GCI) announced the nominees for the 3rd annual American Influencer Awards, celebrating top social media talent across 23 categories. The nominees, chosen by public submission and an advisory board, include notable figures like Charli D'Amelio and Bretman Rock. Voting is open from October 1 to October 31, 2020, allowing fans to participate in selecting winners. The awards aim to recognize and elevate influencers in the beauty sector, showcasing the industry's growth and diversity.

The American Influencer Awards announced nominees for its 3rd edition, honoring beauty influencers in 23 categories. Notable nominees include Charli D'Amelio and Bretman Rock. Voting is open from Oct. 1 to Oct. 31, 2020. The awards, part of Gannett Ventures and coordinated with the American Influencer Association, showcase talent across social media, reflecting industry's growth in 2020. The American Influencer Association aims to recognize and uplift influential figures, reinforcing positivity within the community.