Gannett Co., Inc. announced on March 7, 2025, that it prepaid approximately $57.5 million on its five-year first lien term loan facility, the 2029 Term Loan Facility. This action reduced the company's first lien debt from $850.0 million to $792.5 million during the first quarter of 2025.
The debt repayment was funded by proceeds from the sale of the Austin-American Statesman, which was completed on February 28, 2025, along with cash on hand. This demonstrates Gannett's commitment to leveraging asset sales for balance sheet improvement.
The company reiterated that debt repayment remains a high priority as part of its long-term strategy. Gannett expects to repay over $100 million of debt through asset sales and continued free cash flow growth in 2025, aiming to achieve a first lien net leverage approaching 2.0x by year-end.
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