Gannett
has refinanced about $500 million in debt, USA Today reported Nov. 17.
Gannett refinanced around a
third of the loan from private equity firm Apollo Global Management that
financed the merger of GateHouse Media parent New Media Investment Group and
Gannett. The new company is using the Gannett name.
The refinancing will
save the company money on interest payments and result in a faster reduction of
its liabilities, says USA Today.
The refinancing means Gannett
has around $1.12 billion in debt owed to Apollo, says USA Today.
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