Wednesday, November 25, 2020

Gannett refinances $500 million in debt

 

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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