Apollo-affiliated investment funds reported a significant passive stake in USA TODAY Co., Inc. common stock. The group of 17 related Apollo entities collectively reported beneficial ownership of 12,128,756 shares, representing 8.2% of the company’s common stock, based on 147,108,750 shares outstanding as of October 27, 2025.
The largest holder listed is Apollo Credit Strategies Master Fund Ltd. with 10,668,086 shares, or 7.3% of the class, with smaller positions held by Apollo Atlas Master Fund, Apollo Credit Strategies Absolute Return Aggregator A, and Apollo PPF Credit Strategies. All Reporting Persons have zero sole voting or dispositive power and share voting and dispositive power over their respective positions.
The Apollo entities and certain related executives expressly disclaim beneficial ownership of shares beyond those held of record by each listed Reporting Person. They also certify that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer, indicating this is a passive investment under Schedule 13G.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)
USA TODAY Co., Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
36472T109
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Management Holdings GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
12,128,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
12,128,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
12,128,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Atlas Master Fund, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
224,891.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
224,891.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
224,891.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Atlas Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
224,891.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
224,891.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
224,891.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Credit Strategies Absolute Return Aggregator A, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
402,393.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
402,393.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
402,393.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.3 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Credit Strategies Absolute Return Management, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
402,393.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
402,393.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
402,393.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.3 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Credit Strategies Absolute Return Management GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
402,393.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
402,393.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
402,393.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.3 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Credit Strategies Master Fund Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,668,086.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10,668,086.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,668,086.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.3 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo ST Fund Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,668,086.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10,668,086.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,668,086.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.3 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo ST Operating LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,668,086.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10,668,086.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,668,086.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.3 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo ST Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,668,086.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10,668,086.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,668,086.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.3 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
ST Management Holdings, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,668,086.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
10,668,086.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,668,086.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
7.3 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo PPF Credit Strategies, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
833,386.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
833,386.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
833,386.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.6 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo PPF Credit Strategies Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
833,386.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
833,386.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
833,386.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.6 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Capital Management, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
12,128,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
12,128,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
12,128,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Capital Management GP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
12,128,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
12,128,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
12,128,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
36472T109
1
Names of Reporting Persons
Apollo Management Holdings, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
12,128,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
12,128,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
12,128,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
USA TODAY Co., Inc.
(b)
Address of issuer's principal executive offices:
175 Sully's Trail Suite 203, Pittsford, NY 14534-4560
Item 2.
(a)
Name of person filing:
This statement is filed by (i) (ii) Apollo Atlas Master Fund, LLC ("Atlas"); (iii) Apollo Atlas Management, LLC ("Atlas Management"); (iv) Apollo Credit Strategies Absolute Return Aggregator A, L.P. ("Absolute Return"); (v) Apollo Credit Strategies Absolute Return Management, L.P. ("Absolute Return Management"); (vi) Apollo Credit Strategies Absolute Return Management GP, LLC ("Absolute Return Management GP"); (vii) Apollo Credit Strategies Master Fund Ltd. ("Credit Strategies"); (viii) Apollo ST Fund Management LLC ("ST Management"); (ix) Apollo ST Operating LP ("ST Operating"); (x) Apollo ST Capital LLC ("ST Capital"); (xi) ST Management Holdings, LLC ("ST Management Holdings"); (xii) Apollo PPF Credit Strategies, LLC ("PPF Credit Strategies"); (xiii) Apollo PPF Credit Strategies Management, LLC ("PPF Management"); (xiv) Apollo Capital Management, L.P. ("Capital Management"); (xv) Apollo Capital Management GP, LLC ("Capital Management GP"); (xvi) Apollo Management Holdings, L.P. ("Management Holdings"); and (xvii) Apollo Management Holdings GP, LLC ("Management Holdings GP"). The foregoing are collectively referred to herein as the "Reporting Persons."
Atlas, Absolute Return, Credit Strategies and PPF Credit Strategies each hold securities of the Issuer.
Atlas Management serves as the investment manager of Atlas. Absolute Return Management serves as the investment manager of Absolute Return. Absolute Return Management GP is the general partner of Absolute Return Management. ST Management serves as the investment manager for Credit Strategies. ST Operating is the sole member of ST Management. The general partner of ST Operating is ST Capital. ST Management Holdings is the sole member of ST Capital. PPF Management serves as the investment manager of PPF Credit Strategies.
Capital Management serves as the sole member of Atlas Management, Absolute Return Management GP, and PPF Management; and as the sole member and manager of ST Management Holdings. Capital Management GP serves as the general partner of Capital Management. Management Holdings serves as the sole member and manager of Capital Management GP, and Management Holdings GP serves as the general partner of Management Holdings.
(b)
Address or principal business office or, if none, residence:
The address of the principal office of Credit Strategies is c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, Grand Cayman, KY1-9008, Cayman Islands.
The address of the principal office of each of Atlas, Atlas Management, Absolute Return, Absolute Return Management, Absolute Return Management GP, ST Management, ST Operating, ST Capital, ST Management Holdings, PPF Credit Strategies, PPF Management, Capital Management, Capital Management GP, Management Holdings, and Management Holdings GP is 9 W. 57th Street, 41st Floor, New York, New York 10019.
(c)
Citizenship:
Atlas, Credit Strategies, and ST Management Holdings are each an exempted company incorporated in the Cayman Islands with limited liability. Absolute Return is a Cayman Islands exempted limited partnership.
Atlas Management, Absolute Return Management GP, ST Management, ST Capital, PPF Credit Strategies, PPF Management, Capital Management GP, and Management Holdings GP are each a Delaware limited liability company.
Absolute Return Management, ST Operating, Capital Management, and Management Holdings are each a Delaware limited partnership.
(d)
Title of class of securities:
Common Stock, par value $0.01 per share
(e)
CUSIP No.:
36472T109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Atlas 224,891
Atlas Management 224,891
Absolute Return 402,393
Absolute Return Management 402,393
Absolute Return Management GP 402,393
Credit Strategies 10,668,086
ST Management 10,668,086
ST Operating 10,668,086
ST Capital 10,668,086
ST Management Holdings 10,668,086
PPF Credit Strategies 833,386
PPF Management 833,386
Capital Management 12,128,756
Capital Management GP 12,128,756
Management Holdings 12,128,756
Management Holdings GP 12,128,756
Atlas, Absolute Return, Credit Strategies, and PPF Credit Strategies each disclaims beneficial ownership of all shares of Common Stock included in this report other than the shares of Common Stock held of record by such Reporting Person, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each other Reporting Person, and Messrs. Scott Kleinman, James Zelter and Marc Rowan, the managers, as well as executive officers, of Management Holdings GP, disclaims beneficial ownership of all shares of Common Stock included in this report, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
(b)
Percent of class:
Atlas 0.2%
Atlas Management 0.2%
Absolute Return 0.3%
Absolute Return Management 0.3%
Absolute Return Management GP 0.3%
Credit Strategies 7.3%
ST Management 7.3%
ST Operating 7.3%
ST Capital 7.3%
ST Management Holdings 7.3%
PPF Credit Strategies 0.6%
PPF Management 0.6%
Capital Management 8.2%
Capital Management GP 8.2%
Management Holdings 8.2%
Management Holdings GP 8.2%
The percentages are based on 147,108,750 shares of Common Stock outstanding as of October 27, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 30, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0 for all Reporting Persons
(ii) Shared power to vote or to direct the vote:
Atlas 224,891
Atlas Management 224,891
Absolute Return 402,393
Absolute Return Management 402,393
Absolute Return Management GP 402,393
Credit Strategies 10,668,086
ST Management 10,668,086
ST Operating 10,668,086
ST Capital 10,668,086
ST Management Holdings 10,668,086
PPF Credit Strategies 833,386
PPF Management 833,386
Capital Management 12,128,756
Capital Management GP 12,128,756
Management Holdings 12,128,756
Management Holdings GP 12,128,756
(iii) Sole power to dispose or to direct the disposition of:
0 for all Reporting Persons
(iv) Shared power to dispose or to direct the disposition of:
Atlas 224,891
Atlas Management 224,891
Absolute Return 402,393
Absolute Return Management 402,393
Absolute Return Management GP 402,393
Credit Strategies 10,668,086
ST Management 10,668,086
ST Operating 10,668,086
ST Capital 10,668,086
ST Management Holdings 10,668,086
PPF Credit Strategies 833,386
PPF Management 833,386
Capital Management 12,128,756
Capital Management GP 12,128,756
Management Holdings 12,128,756
Management Holdings GP 12,128,756
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Apollo Management Holdings GP, LLC
Signature:
/s/ William B. Kuesel
Name/Title:
William B. Kuesel, Vice President
Date:
02/13/2026
Apollo Atlas Master Fund, LLC
Signature:
Apollo Atlas Management, LLC
Name/Title:
Investment Manager
Date:
02/13/2026
Signature:
/s/ William B. Kuesel
Name/Title:
William B. Kuesel, Vice President
Date:
02/13/2026
Apollo Atlas Management, LLC
Signature:
/s/ William B. Kuesel
Name/Title:
William B. Kuesel, Vice President
Date:
02/13/2026
Apollo Credit Strategies Absolute Return Aggregator A, L.P.
Signature:
Apollo Credit Strategies Absolute Return Advisors, L.P.
Name/Title:
General Partner
Date:
02/13/2026
Signature:
Apollo Credit Strategies Absolute Return Advisors GP, LLC
Name/Title:
General Partner
Date:
02/13/2026
Signature:
/s/ William B. Kuesel
Name/Title:
William B. Kuesel, Vice President
Date:
02/13/2026
Apollo Credit Strategies Absolute Return Management, L.P.
Signature:
Apollo Credit Strategies Absolute Return Advisors GP, LLC
Name/Title:
General Partner
Date:
02/13/2026
Signature:
/s/ William B. Kuesel
Name/Title:
William B. Kuesel, Vice President
Date:
02/13/2026
Apollo Credit Strategies Absolute Return Management GP, LLC
What ownership stake does Apollo report in USA TODAY Co., Inc. (GCI)?
Apollo-affiliated entities report beneficial ownership of 12,128,756 USA TODAY Co., Inc. common shares, equal to 8.2% of the outstanding stock. This percentage is calculated against 147,108,750 shares outstanding as of October 27, 2025, as disclosed in the issuer’s Form 10-Q.
Which Apollo fund holds the largest position in USA TODAY Co., Inc. (GCI)?
The largest reported position is held by Apollo Credit Strategies Master Fund Ltd. with 10,668,086 common shares, representing 7.3% of the class. Several other Apollo vehicles hold smaller stakes, all aggregated for a combined reported beneficial ownership of 12,128,756 shares.
Are Apollo’s USA TODAY Co., Inc. (GCI) shares held with control intent?
The filing states the securities were not acquired and are not held for the purpose or effect of changing or influencing control of USA TODAY Co., Inc. The Reporting Persons certify this passive intent consistent with a Schedule 13G rather than a control-oriented Schedule 13D.
How is voting power over USA TODAY Co., Inc. (GCI) shares allocated among Apollo entities?
All Reporting Persons report 0 shares with sole voting power and only shared voting power over their respective positions. For example, Apollo Credit Strategies Master Fund Ltd. and related managers each report shared voting power over 10,668,086 shares, with no sole authority disclosed.
What outstanding share count did Apollo use to calculate its GCI ownership percentage?
The ownership percentages are based on 147,108,750 shares of USA TODAY Co., Inc. common stock outstanding as of October 27, 2025. This figure comes from the issuer’s Quarterly Report on Form 10-Q filed with the SEC on October 30, 2025.
Do Apollo entities fully acknowledge beneficial ownership of all reported GCI shares?
Several Apollo funds, including Atlas, Absolute Return, Credit Strategies, and PPF Credit Strategies, expressly disclaim beneficial ownership of any shares beyond those held of record by each such fund. Other Apollo managers and executives also disclaim beneficial ownership of the reported securities.
When did the reportable event for Apollo’s GCI holdings occur?
The reportable event date is listed as December 31, 2025. This is the date triggering the Schedule 13G/A amendment, reflecting Apollo’s aggregated beneficial ownership position in USA TODAY Co., Inc. common stock as described in the ownership tables.
