GANNETT CO., INC., 10-K filed on 2/20/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Feb. 14, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-36097    
Entity Registrant Name GANNETT CO., INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 38-3910250    
Entity Address, Address Line One 175 Sully's Trail    
Entity Address, Address Line Two Suite 203    
Entity Address, City or Town Pittsford,    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 14534-4560    
City Area Code 703    
Local Phone Number 854-6000    
Title of 12(b) Security Common Stock, par value $0.01 per share    
Trading Symbol GCI    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction Flag false    
Entity Shell Company false    
Entity Public Float     $ 648.5
Entity Common Stock, Shares Outstanding   147,369,070  
Documents Incorporated by Reference Certain information in the definitive proxy statement for the registrant's Annual Meeting of Stockholders for 2025, to be filed with the
Securities and Exchange Commission within 120 days after the end of the fiscal year ended December 31, 2024, is incorporated by reference
in Part III to the extent described therein.
    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001579684    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Auditor Information [Abstract]    
Auditor Firm ID 248 42
Auditor Name GRANT THORNTON LLP Ernst & Young LLP
Auditor Location New York, New York Tysons, Virginia
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 106,299 $ 100,180
Accounts receivable, net of allowance for credit losses of $13,596 and $16,338, respectively 239,636 266,096
Inventories 20,910 26,794
Prepaid expenses 40,268 36,210
Other current assets 18,782 14,957
Total current assets 425,895 444,237
Property, plant, and equipment, net 240,980 239,087
Operating lease assets 143,955 221,733
Goodwill 530,028 533,876
Intangible assets, net 430,374 524,350
Deferred tax assets 60,983 37,125
Pension and other assets 207,932 180,839
Total assets 2,040,147 2,181,247
Current liabilities:    
Accounts payable and accrued liabilities 318,384 293,444
Deferred revenue 108,000 120,502
Current portion of long-term debt 74,300 63,752
Operating lease liabilities 39,761 45,763
Other current liabilities 5,157 10,052
Total current liabilities 545,602 533,513
Long-term debt 755,754 564,836
Convertible debt 249,757 416,036
Deferred tax liabilities 4,928 2,028
Pension and other postretirement benefit obligations 37,820 42,661
Long-term operating lease liabilities 167,731 203,871
Other long-term liabilities 125,921 100,989
Total noncurrent liabilities 1,341,911 1,330,421
Total liabilities 1,887,513 1,863,934
Commitments and contingent liabilities (see Note 13)
Equity    
Preferred stock, $0.01 par value per share, 300,000 shares authorized, none of which were issued and outstanding at December 31, 2024 and December 31, 2023 0 0
Common stock, $0.01 par value per share, 2,000,000,000 shares authorized; 158,835,742 shares issued and 147,388,555 shares outstanding at December 31, 2024; 158,554,705 shares issued and 148,939,463 shares outstanding at December 31, 2023 1,588 1,586
Treasury stock, at cost, 11,447,187 shares and 9,615,242 shares at December 31, 2024 and December 31, 2023, respectively (20,540) (17,393)
Additional paid-in capital 1,281,801 1,426,325
Accumulated deficit (1,053,546) (1,027,192)
Accumulated other comprehensive loss (56,164) (65,541)
Total Gannett stockholders' equity 153,139 317,785
Noncontrolling interests (505) (472)
Total equity 152,634 317,313
Total liabilities and equity $ 2,040,147 $ 2,181,247
v3.25.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Accounts receivables, allowance for credit losses $ 13,596 $ 16,338
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock authorized (in shares) 300,000 300,000
Preferred stock, outstanding (in shares) 0 0
Preferred stock, issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, issued (in shares) 158,835,742 158,554,705
Common stock, outstanding (in shares) 147,388,555 148,939,463
Treasury stock (in shares) 11,447,187 9,615,242
v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total revenues $ 2,509,315 $ 2,663,550 $ 2,945,303
Operating costs 1,545,584 1,692,031 1,860,353
Selling, general and administrative expenses 726,028 735,339 852,488
Depreciation and amortization 156,287 162,622 182,022
Integration and reorganization costs 66,155 24,468 87,974
Asset impairments 46,589 1,370 1,056
Loss (gain) on sale or disposal of assets, net 1,106 (40,101) (6,883)
Other operating expenses 10,404 1,550 1,892
Total operating expenses 2,552,153 2,577,279 2,978,902
Operating (loss) income (42,838) 86,271 (33,599)
Interest expense 104,697 111,776 108,366
Gain on early extinguishment of debt (55,559) (4,529) (399)
Non-operating pension income (12,438) (9,382) (58,953)
Equity income in unconsolidated investees, net (548) (2,379) (3,421)
Other non-operating income, net (1,317) (3,050) (2,286)
Non-operating expenses 34,835 92,436 43,307
Loss before income taxes (77,673) (6,165) (76,906)
(Benefit) provision for income taxes (51,286) 21,729 1,349
Net loss (26,387) (27,894) (78,255)
Net loss attributable to noncontrolling interests (33) (103) (253)
Net loss attributable to Gannett $ (26,354) $ (27,791) $ (78,002)
Loss per share attributable to Gannett - basic (in dollars per share) $ (0.18) $ (0.20) $ (0.57)
Loss per share attributable to Gannett - diluted (in dollars per share) $ (0.18) $ (0.20) $ (0.57)
Other comprehensive income (loss):      
Foreign currency translation adjustments $ (14) $ 13,683 $ (24,008)
Pension and other postretirement benefit items:      
Net actuarial gain (loss) 10,205 33,135 (185,282)
Amortization of net actuarial gain (loss) 1,014 (305) (500)
Change in prior service cost 0 3,307 0
Amortization of prior service cost (500) (502) 66
Settlement loss 35 0 0
Equity method investments 116 610 0
Other 1,405 (7,415) 5,283
Total pension and other postretirement benefit items 12,275 28,830 (180,433)
Other comprehensive income (loss) before tax 12,261 42,513 (204,441)
Income tax provision (benefit) related to components of other comprehensive income (loss) 2,884 6,823 (43,212)
Other comprehensive income (loss), net of tax [1] 9,377 35,690 (161,229)
Comprehensive (loss) income (17,010) 7,796 (239,484)
Comprehensive loss attributable to noncontrolling interests [2] (33) (103) (253)
Comprehensive (loss) income attributable to Gannett (16,977) 7,899 (239,231)
Digital      
Total revenues 1,103,651 1,050,370 1,038,580
Print and commercial      
Total revenues $ 1,405,664 $ 1,613,180 $ 1,906,723
[1] (b) Other comprehensive income (loss) is net of an income tax provision of $2.9 million and $6.8 million for the years ended December 31, 2024 and 2023, respectively, and net of an income tax benefit of $43.2 million for the year ended December 31, 2022.
[2] (a) For the years ended December 31, 2024, 2023, and 2022 there were no redeemable noncontrolling interests included in Net loss attributable to
noncontrolling interests.
v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Net loss attributable to redeemable noncontrolling interests $ 0 $ 0 $ 0
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net loss $ (26,387) $ (27,894) $ (78,255)
Adjustments to reconcile net loss to operating cash flows:      
Depreciation and amortization 156,287 162,622 182,022
Share-based compensation expense 12,522 16,567 16,751
Non-cash interest expense 18,072 21,199 21,303
(Benefit) provision for deferred incomes taxes (44,758) 11,514 2,549
Loss (gain) on sale or disposal of assets, net 1,106 (40,101) (6,883)
Gain on early extinguishment of debt (55,559) (4,529) (399)
Asset impairments 46,589 1,370 1,056
Pension and other postretirement benefit obligations (23,916) (13,917) (80,012)
Equity income in unconsolidated investees, net (548) (2,379) (3,421)
Change in other assets and liabilities:      
Accounts receivable, net 25,843 34,135 44,943
Inventory 4,617 18,510 (7,434)
Prepaid expenses (1,820) 16,680 3,244
Accounts payable and accrued liabilities (1,934) (65,094) (23,653)
Deferred revenue (17,277) (29,971) (30,076)
Other assets and liabilities 7,473 (4,138) (959)
Cash provided by operating activities 100,310 94,574 40,776
Investing activities      
Acquisitions, net of cash acquired 0 0 (15,432)
Purchase of property, plant, and equipment (49,534) (38,116) (45,376)
Proceeds from sale of real estate and other assets 20,976 85,298 83,504
Change in other investing activities 608 (203) (572)
Cash (used for) provided by investing activities (27,950) 46,979 22,124
Financing activities      
Payments of deferred financing costs (8,933) 0 (1,652)
Borrowings of long-term debt 837,671 0 80,000
Repayments of long-term debt (644,732) (133,821) (170,994)
Repurchase of convertible debt (248,211) 0 0
Proceeds from convertible debt 110 0 0
Acquisition of noncontrolling interests 0 0 (2,050)
Treasury stock (3,141) (2,642) (6,555)
Changes in other financing activities (1,617) 952 (1,616)
Cash used for financing activities (68,853) (135,511) (102,867)
Effect of currency exchange rate change on cash 2,062 (234) 1,152
Increase (decrease) in cash, cash equivalents and restricted cash 5,569 5,808 (38,815)
Cash, cash equivalents and restricted cash at beginning of year 110,612 104,804 143,619
Cash, cash equivalents and restricted cash at end of year $ 116,181 $ 110,612 $ 104,804
v3.25.0.1
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Common stock
Additional paid-in capital
Accumulated other comprehensive income (loss)
Accumulated deficit
Treasury stock
Non-controlling interests
 [1]
Beginning Balance (in shares) at Dec. 31, 2021   144,667,000          
Beginning Balance at Dec. 31, 2021 $ 529,615 $ 1,446 $ 1,400,206 $ 59,998 $ (921,399) $ (8,151) $ (2,485)
Beginning Balance (in shares) at Dec. 31, 2021           2,368,000  
Increase (Decrease) in Stockholders' Equity              
Net loss attributable to Gannett (78,255)       (78,002)   (253)
Acquisition of noncontrolling interests 2,050   4,419       (2,369)
Restricted share grants ( in shares)   7,127,000          
Restricted share grants 0 $ 71 (71)        
Restricted stock awards settled, net of withholdings (in shares)   615,000          
Restricted stock awards settled, net of withholdings (1,730) $ 7 (1,737)        
Performance stock units settled, net of withholdings (in shares)   563,000          
Performance stock units settled, net of withholdings (886) $ 6 (892)        
Other comprehensive income (loss), net [2] (161,229)     (161,229)      
Share-based compensation expense 16,751   16,751        
Issuance of common stock (in shares)   314,000          
Issuance of common stock 138 $ 3 135        
Treasury stock (in shares)           1,568,000  
Treasury stock (6,555)         $ (6,555)  
Restricted share forfeiture (in shares)           3,127,000  
Restricted share forfeiture (31)         $ (31)  
Other activity (395)   (395)       0
Ending Balance (in shares) at Dec. 31, 2022   153,286,000          
Ending Balance at Dec. 31, 2022 295,373 $ 1,533 1,409,578 (101,231) (999,401) $ (14,737) (369)
Ending Balance (in shares) at Dec. 31, 2022           7,063,000  
Increase (Decrease) in Stockholders' Equity              
Net loss attributable to Gannett (27,894)       (27,791)   (103)
Restricted share grants ( in shares)   4,682,000          
Restricted share grants 0 $ 47 (47)        
Performance stock units settled, net of withholdings (in shares)   97,000          
Performance stock units settled, net of withholdings (126) $ 1 (127)        
Other comprehensive income (loss), net [2] 35,690     35,690      
Share-based compensation expense 16,567   16,567        
Issuance of common stock (in shares)   490,000          
Issuance of common stock 100 $ 5 95        
Treasury stock (in shares)           1,132,000  
Treasury stock (2,642)         $ (2,642)  
Restricted share forfeiture (in shares)           1,420,000  
Restricted share forfeiture (14)         $ (14)  
Other activity $ 259   259        
Ending Balance (in shares) at Dec. 31, 2023 148,939,463 158,555,000          
Ending Balance at Dec. 31, 2023 $ 317,313 $ 1,586 1,426,325 (65,541) (1,027,192) $ (17,393) (472)
Ending Balance (in shares) at Dec. 31, 2023 9,615,242         9,615,000  
Increase (Decrease) in Stockholders' Equity              
Net loss attributable to Gannett $ (26,387)       (26,354)   (33)
Other comprehensive income (loss), net [2] 9,377     9,377      
Share-based compensation expense 12,522   12,522        
Equity component of convertible debt (157,089)   (157,089)        
Issuance of common stock (in shares)   281,000          
Issuance of common stock 99 $ 2 97        
Treasury stock (in shares)           1,289,000  
Treasury stock (3,141)         $ (3,141)  
Restricted share forfeiture (in shares)           543,000  
Restricted share forfeiture (6)         $ (6)  
Other activity $ (54)   (54)        
Ending Balance (in shares) at Dec. 31, 2024 147,388,555 158,836,000          
Ending Balance at Dec. 31, 2024 $ 152,634 $ 1,588 $ 1,281,801 $ (56,164) $ (1,053,546) $ (20,540) $ (505)
Ending Balance (in shares) at Dec. 31, 2024 11,447,187         11,447,000  
[1] (a) Excludes Redeemable noncontrolling interests which are reflected in temporary equity.
[2] (b) Other comprehensive income (loss) is net of an income tax provision of $2.9 million and $6.8 million for the years ended December 31, 2024 and 2023, respectively, and net of an income tax benefit of $43.2 million for the year ended December 31, 2022.
v3.25.0.1
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Income tax provision (benefit) related to components of other comprehensive income (loss) $ 2,884 $ 6,823 $ (43,212)
v3.25.0.1
Description of business and basis of presentation
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of business and basis of presentation NOTE 1 — Description of business and basis of presentation
Description of business
Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") is a diversified media company with expansive reach at
the national and local level dedicated to empowering and enriching communities. We seek to inspire, inform, and connect
audiences as a sustainable, growth focused media and digital marketing solutions company. Through our trusted brands,
including the USA TODAY NETWORK, comprised of the national publication, USA TODAY, and local media organizations,
including our network of local properties, in the United States (the "U.S."), and Newsquest, a wholly-owned subsidiary
operating in the United Kingdom (the "U.K."), we provide essential journalism, local content, and digital experiences to
audiences and businesses. We deliver high-quality, trusted content with a commitment to balanced, unbiased journalism, where
and when consumers want to engage. We prioritize a digital-first strategy, focusing on audience growth and engagement while
diversifying revenue streams. Our digital marketing solutions brand, LocaliQ, supports small and medium-sized businesses
("SMBs") with innovative digital marketing products and solutions. Our mission remains to inspire, inform, and connect
communities while driving sustainable growth for our customers, advertisers, partners, and shareholders.
The Company reports in three segments: Domestic Gannett Media, Newsquest and Digital Marketing Solutions ("DMS").
We also have a Corporate and other category that includes activities not directly attributable to a specific reportable segment
and includes broad corporate functions, such as legal, human resources, accounting, analytics, finance, marketing and
technology, as well as other general business costs. A full description of our reportable segments is included in Note 14 —
Segment reporting.
Basis of presentation
The Consolidated financial statements include all the assets, liabilities, revenues, expenses, and cash flows of entities which
Gannett controls due to ownership of a majority voting interest ("subsidiaries"). All significant intercompany accounts and
transactions have been eliminated in consolidation, and the Company consolidates entities that it controls due to ownership of a
majority voting interest.
Use of estimates
The preparation of the financial statements in conformity with U.S. generally accepted accounting principles ("U.S.
GAAP") requires management to make estimates and assumptions that affect the amounts reported in the Consolidated financial
statements and footnotes thereto. Actual results could differ materially from those estimates.
Significant estimates inherent in the preparation of the Consolidated financial statements include pension and
postretirement benefit obligation assumptions, income taxes, goodwill and intangible asset impairment analysis, valuation of
property, plant, and equipment and the mark to market of the conversion feature associated with the convertible debt.
Reclassifications
Certain reclassifications have been made to the prior year Consolidated financial statements to conform to classifications
used in the current year. Beginning in the first quarter of 2024, the Company updated the presentation of its revenues to reflect
the disaggregation between Digital revenues and Print and commercial revenues. These reclassifications had no impact on net
income (loss), stockholders' equity or cash flows as previously reported.
v3.25.0.1
Summary of significant accounting policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of significant accounting policies NOTE 2 — Summary of significant accounting policies
Cash, cash equivalents and restricted cash and supplementary cash flow information
Cash equivalents represent highly liquid certificates of deposit which have original maturities of three months or less.
Restricted cash is held as cash collateral for certain business operations. Restricted cash primarily consists of funding for letters
of credit, cash held in an irrevocable grantor trust for our deferred compensation plans and cash held with banking institutions
for insurance plans.
The following table presents a reconciliation of cash, cash equivalents and restricted cash:
December 31,
In thousands
2024
2023
2022
Cash and cash equivalents
$106,299
$100,180
$94,255
Restricted cash, included in prepaid expenses and other current assets
278
371
563
Restricted cash, included in other assets
9,604
10,061
9,986
Total cash, cash equivalents and restricted cash
$116,181
$110,612
$104,804
The following table presents supplementary cash flow information, including non-cash investing and financing activities:
Year ended December 31,
In thousands
2024
2023
2022
Cash paid for taxes, net
$10,115
$8,222
$3,409
Cash paid for interest
86,321
89,335
86,485
Non-cash investing and financing activities:
Convertible notes exchange
223,614
—
—
Accrued capital expenditures
39,634
2,390
699
Accounts receivable
Accounts receivable are stated at amounts due from customers, net of allowances, which reflect the Company's expected
credit losses based on historical experience as well as current and expected economic conditions.
Inventory
Inventory consists principally of newsprint, which is valued at the lower of cost or net realizable value. Cost is determined
using the first-in, first-out ("FIFO") method.
Property, plant, and equipment, software development costs and depreciation
Property, plant, and equipment are recorded at cost or at fair value for property, plant, and equipment related to acquired
businesses. Routine maintenance and repairs are expensed as incurred. Depreciation is calculated under the straight-line method
over the estimated useful lives. Leasehold improvements are amortized under the straight-line method over the shorter of the
lease term or estimated useful life of the asset.
We capitalize costs to develop software for internal use when it is determined the development efforts will result in new or
additional functionality or new products. Costs incurred prior to meeting these criteria and costs associated with ongoing
maintenance are expensed as incurred and included in Operating costs in the accompanying Consolidated statements of
operations and comprehensive income (loss).
Property, plant, and equipment and software development costs are evaluated for impairment in accordance with our policy
for amortizable intangible assets and other long-lived assets.
A breakout of property, plant, and equipment and software is presented below:
December 31,
In thousands
2024
2023
Useful Lives (range)
Land
$18,075
$21,990
Buildings and improvements
123,454
147,171
10 years
-
30 years
Machinery and equipment
224,138
258,432
3 years
-
20 years
Capitalized software
183,172
114,122
3 years
-
5 years
Furniture and fixtures
14,793
23,541
7 years
-
10 years
Construction in progress
14,361
10,239
Total
577,993
575,495
Less: accumulated depreciation(a)
(337,013)
(336,408)
Property, plant, and equipment, net
$240,980
$239,087
(a)Includes accumulated depreciation of capitalized software of approximately $105.5 million and $74.4 million for the years ended December 31, 2024 and
2023, respectively.
Depreciation expense was $68.2 million, $72.6 million, and $86.4 million for the years ended December 31, 2024, 2023,
and 2022, respectively.
Goodwill, intangible and long-lived assets
Goodwill represents the excess of acquisition cost over the fair value of assets acquired, including identifiable intangible
assets, net of liabilities assumed. Indefinite-lived intangible assets consist of newspaper mastheads and finite-lived intangible
assets consist of advertiser, subscriber and other customer relationships, as well as trade names, and developed technology.
Newspaper mastheads are not amortized because it has been determined that the useful lives of such mastheads are indefinite.
Intangible assets that have finite useful lives are amortized over those useful lives.
Goodwill is tested for impairment annually as of November 30 each year and between annual tests if events occur or
circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. We
perform our impairment analysis on each of our reporting units. We evaluate our reporting units annually, as well as when
changes in our operating structure occur. The Company has the option to qualitatively assess whether it is more likely than not
that the fair value of a reporting unit is less than its carrying value. If the Company elects to perform a qualitative assessment
and concludes it is more likely than not that the fair value of the reporting unit is equal to or greater than its carrying value, no
further assessment of that reporting unit's goodwill is necessary; otherwise goodwill must be tested for impairment. In the
quantitative test, we are required to determine the fair value of each reporting unit and compare it to the carrying amount of the
reporting unit. Fair value of the reporting unit is defined as the price that would be received to sell the unit as a whole in an
orderly transaction between market participants at the measurement date. The Company generally determines the fair value of a
reporting unit using a combination of a discounted cash flow analysis and a market-based approach. Estimates of fair value
include inputs that are subjective in nature, involve uncertainties, and involve matters of significant judgment that are made at a
specific point in time. Changes in key assumptions from period to period could significantly affect the estimates of fair value.
Significant assumptions used in the fair value estimates include projected revenues and related growth rates over time, projected
operating cash flow margins, discount rates, and future economic and market conditions. If the carrying value of the reporting
unit exceeds the estimate of fair value, we calculate the impairment as the excess of the carrying value of goodwill over its
implied fair value.
Indefinite-lived intangible assets, which are newspaper mastheads, are tested for impairment annually or more frequently if
events or changes in circumstances indicate the asset might be impaired. The impairment test consists of a comparison of the
fair value of each group of mastheads with their carrying amount. We use a relief from royalty approach which utilizes a
discounted cash flow model to determine the fair value of newspaper mastheads. Our judgments and estimates of future
operating results in determining the reporting unit fair values are consistently applied in determining the fair value of
mastheads.
The Company assesses the recoverability of its long-lived assets, including property, plant, and equipment and finite-lived
intangible assets, whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. The
evaluation is performed by asset group, which is the lowest level of identifiable cash flows independent of other assets. The
assessment of recoverability is based on management's estimates by comparing the sum of the estimated undiscounted cash
flows generated by the underlying asset groups to its carrying value of the asset groups to determine whether an impairment
existed at its lowest level of identifiable cash flows. If the carrying amount of the asset group is greater than the expected
undiscounted cash flows to be generated by the asset group, an impairment is recognized to the extent the carrying value of
such asset group exceeds its fair value.
All three of our reporting units have goodwill balances. We conducted our goodwill and indefinite-lived intangible asset
impairment testing in the fourth quarter of 2024 and did not identify any impairment. In addition, we had no impairments of
goodwill and indefinite-lived intangible assets in 2023 and 2022.
See Note 6 — Goodwill and intangible assets for further discussion of Goodwill and intangible assets.
Income taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for
the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and
liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are
measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are
expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in
income in the period that includes the enactment date. The Company establishes a valuation allowance if it is more likely than
not that all or a portion of a deferred tax asset will not be realized. See Note 11 — Income taxes for further discussion.
We also evaluate any uncertain tax positions and recognize a liability for the tax benefit associated with an uncertain tax
position if it is more likely than not that the tax position will not be sustained on examination by the taxing authorities upon
consideration of the technical merits of the position. The tax benefits recognized in the financial statements from such positions
are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. We
record a liability for uncertain tax positions taken or expected to be taken in a tax return. Any change in judgment related to the
expected ultimate resolution of uncertain tax positions is recognized in earnings in the period in which such change occurs.
Fair value of financial instruments
The carrying value of the Company's cash equivalents, accounts receivable, accounts payable, and accrued liabilities
approximate fair value due to the short maturity of these instruments. A discussion of the fair value level of the Company's debt
and embedded conversion option is disclosed in Note 8 — Debt. For further details surrounding our policies on fair value
measurement, including the fair values of our pension plan assets, refer to Note 10 — Fair value measurement.
Deferred financing costs
Deferred financing costs consist of costs incurred in connection with debt financings and are recorded as a contra-liability
in Long-term debt on the Consolidated balance sheets. Such costs are amortized using the effective interest method over the
estimated remaining term of the debt. This amortization represents a component of Interest expense. A proportionate amount of
deferred financing costs is written-off upon early prepayment of debt as a component of Loss (gain) on early extinguishment of
debt on the Consolidated statements of operations and comprehensive income (loss).
Revenue recognition
Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that
reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Our contracts with
customers sometimes include promises to transfer multiple products and services to a customer. Revenue from sales agreements
that contain multiple performance obligations are allocated to each obligation based on the relative standalone selling price. We
determine standalone selling prices based on observable prices charged to customers.
Digital
Digital revenues are primarily derived from digital advertising offerings such as digital marketing services generated
through multiple services, including search advertising, display advertising, search optimization, social media, website
development, web presence products, customer relationship management, and software-as-a-service solutions, classified
advertisements and display advertisements, which may leverage third-party providers, and digital distribution of our
publications, as well as digital content syndication, affiliate and content partnerships, and licensing revenues.
Digital advertising and marketing revenues are generated primarily by online marketing products provided by our DMS
segment. The Company enters into agreements for products in which our clients typically pay in advance and on a monthly
basis. These prepayments include all charges for the included technology and any media services, management, third-party
content, and other costs and fees, all of which are accounted for as a single performance obligation. Revenue is then recognized
as we purchase and deliver media on behalf of the customer and perform other marketing-related services.
Digital subscription revenues are derived from digital subscriptions. Digital subscription revenues are generally billed to
customers at the beginning of the subscription period and are typically recognized over the subscription period as the
performance obligations are delivered. The term of customer subscriptions normally ranges from one to twelve months.
Digital other revenues are derived mainly from digital syndication, affiliate, production and licensing revenues and are
recognized when the related services are performed.
Print and commercial
Print and commercial revenues are generated from the sale of local, national, and classified print advertising products, the
sale of both home delivery and single copies of our publications, as well as commercial printing and distribution arrangements,
and revenues from our events business.
The Company generates Print advertising revenues primarily by delivering advertising in its national publication, USA
TODAY, and in its local publications including newspapers. Advertising revenues are categorized as local retail, local
classified, online, and national. Print advertising revenue is recognized upon publication of the advertisement.
Print circulation revenues are derived from print subscriptions as well as single copy sales at retail stores, vending racks
and boxes. Print circulation revenues from subscribers are generally billed to customers at the beginning of the subscription
period and are typically recognized over the subscription period as the performance obligations are delivered. The term of
customer subscriptions normally ranges from one to twelve months. Print circulation revenues from single-copy income are
recognized based on the date of publication.
The Company provides commercial printing services to third parties as a means to generate incremental revenue and utilize
excess printing capacity. Customers consist primarily of other publishers that do not have their own printing presses and do not
compete with other Gannett publications. The Company also prints other commercial materials, including flyers, business cards
and invitations. Revenue is generally recognized upon delivery. In addition, the Company generates revenues from its events
and promotions business. Revenues are generated primarily through ticket sales, endurance events and race management
services. Revenue is generally recognized when the event occurs.
Principal versus agent considerations
We evaluate whether we are the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net
basis) by performing analyses regarding whether we control the provision of specified goods or services before they are
transferred to our customers. We report revenues gross when we control advertising inventory before it is transferred to the
customer. Our control is evidenced by us being primarily responsible or sharing responsibility for the fulfillment of services and
maintaining control over transaction pricing.
Practical expedients and exemptions
The Company generally expenses sales commissions or other costs to obtain contracts when incurred because the
amortization period is generally one year or less. These costs are recorded within Selling, general and administrative expenses.
The Company does not disclose unsatisfied performance obligations for (i) contracts with an original expected length of
one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right
to invoice for services performed.
Deferred revenues
The Company records deferred revenues when cash payments are received in advance of the Company's performance
obligation. The Company's primary source of deferred revenues is from circulation subscriptions paid in advance of the service
provided, which represents future delivery of publications (the performance obligation) to subscription customers. The
Company expects to recognize the revenue related to unsatisfied performance obligations over the next one to twelve months in
accordance with the terms of the subscriptions.
The Company's payment terms vary by the type and location of the customer and the products or services offered. The
period between invoicing and when payment is due is not significant. For certain products or services and customer types, the
Company requires payment before the products or services are delivered to the customer. The majority of our subscription
customers are billed and pay on monthly terms.
Advertising costs
Advertising costs are expensed in the period incurred. The Company incurred total advertising expenses for the years
ended December 31, 2024, 2023, and 2022 of $45.7 million, $41.9 million, and $56.8 million, respectively.
Pension and postretirement liabilities
Pension and other postretirement benefit costs under our defined benefit retirement plans are actuarially determined. For
plans with frozen benefits, we recognize the cost of postretirement benefits such as pension, medical, and life insurance benefits
on an accrual basis over the average life expectancy of employees expected to receive such benefits. For active plans, costs are
recognized over the estimated average future service period. We also recognize liabilities associated with the withdrawal from
multiemployer pension plans. See Note 9 — Pensions and other postretirement benefit plans for further details.
Share-based compensation
Share-based payments to employees and members of the Board of Directors (i.e., grants of stock options and restricted
stock) are recognized in the Consolidated financial statements over the service period (generally the vesting period) based on
fair values measured on grant dates, less forfeitures. The Company accounts for forfeitures as they occur.
Self-insurance liability accruals
The Company maintains self-insured medical and workers' compensation programs. The Company purchases stop loss
coverage from third parties, which limits our exposure to large claims. The Company records a liability for healthcare and
workers' compensation costs during the period in which they occur, including an estimate of incurred but not reported claims.
Concentration of risk
Cash and cash equivalents are maintained with multiple financial institutions. The Company has deposits held with banks
that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and
are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk.
Due to the distributed nature of our operations, we are not subject to significant concentrations of risk relating to
customers, products, or geographic locations. Our foreign revenues, principally from businesses in the U.K. at our Newsquest
segment and international operations at our DMS segment, were $239.3 million and $40.6 million, respectively, for the year
ended December 31, 2024. As of December 31, 2024, our long-lived assets in foreign countries were $182.7 million at our
Newsquest segment and $5.5 million for our international operations at our DMS segment.
Leases
We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease assets, Other
current liabilities, and Long-term operating lease liabilities on our Consolidated balance sheets. Operating lease right-of-use
("ROU") assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments
over the lease term at commencement date. The rates implicit within the Company's leases are generally not determinable;
therefore, the Company uses judgment to determine the incremental borrowing rate used to calculate the present value of lease
payments. The incremental borrowing rate is determined using our credit rating and information available related to similar
terms and payments as of the commencement date. ROU assets are assessed for impairment in accordance with the Company's
accounting policy for long-lived assets.
Our lease terms include options to extend or terminate. The period which is subject to an option to extend the lease is
included in the lease term if it is reasonably certain that the option will be exercised. The period which is subject to an option to
terminate the lease is included if it is reasonably certain that the option will not be exercised. Lease expense for minimum lease
payments is recognized on a straight-line basis over the lease term.
For all material classes of leased assets, we do not separate lease components from non-lease components, and account for
both components as a single lease component. For certain equipment leases, we apply a portfolio approach to account for the
operating lease ROU assets and liabilities.
Accounts payable and accrued liabilities
A breakout of Accounts payable and accrued liabilities is presented below:
December 31,
In thousands
2024
2023
Accounts payable
$154,162
$142,215
Compensation
81,738
82,160
Taxes (primarily property, sales, and payroll taxes)
9,135
9,990
Benefits
19,765
19,422
Interest
3,972
5,617
Other
49,612
34,040
Accounts payable and accrued liabilities
$318,384
$293,444
Loss contingencies
We are subject to various legal proceedings, claims, and regulatory matters, the outcomes of which are subject to
significant uncertainty. We determine whether to disclose or accrue for loss contingencies based on an assessment of whether
the risk of loss is remote, reasonably possible, or probable and whether it can be reasonably estimated. We accrue for loss
contingencies when such amounts are probable and reasonably estimable. If a contingent liability is only reasonably possible,
we will disclose the potential range of the loss if material and estimable. Legal costs expected to be incurred in connection with
loss contingencies are expensed as incurred.
Foreign currency translation
The statements of income of foreign operations have been translated to U.S. dollars using the average currency exchange
rates in effect during the relevant period. The balance sheets have been translated using the currency exchange rates as of the
end of the accounting period. The impact of currency exchange rate changes on the translation of the balance sheets are
included in Comprehensive income (loss) in the Consolidated statements of operations and comprehensive income (loss) and
are classified as Accumulated other comprehensive loss in the Consolidated balance sheets and Consolidated statements of
equity.
Recent accounting pronouncements adopted
Reportable segment disclosures
In November 2023, the Financial Accounting Standards Board (the "FASB") issued guidance, Accounting Standards
Update ("ASU") 2023-07, which improves reportable segment disclosure requirements primarily through enhanced disclosures
about significant segment expenses. ASU 2023-07 requires the amendments to be applied retrospectively and is effective for
annual reporting periods beginning with the year ended December 31, 2024 and for interim periods beginning with the quarter
ending March 31, 2025. The Company's adoption of this guidance did not have an impact on the Consolidated financial
statements. Refer to "Note 14 – Segments", which reflects updated disclosures to include segment expenses regularly provided
to the Chief Operating Decision Maker ("CODM"), which is our Chief Executive Officer.
Recent accounting pronouncements not yet adopted
Induced conversions of convertible debt instruments
In November 2024, the FASB issued guidance, ASU 2024-04, which clarifies the assessment of whether certain
settlements of convertible debt instruments should be accounted for as an inducement conversion. The new guidance is
effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual periods. The
Company is currently evaluating the provisions of the updated guidance and assessing the impact on the Consolidated financial
statements.
Disaggregation of income statement expenses
In November 2024, the FASB issued guidance, ASU 2024-03, which requires disaggregated disclosures of certain
categories of expenses that are included in expense line items on the face of the income statement. The disclosures are required
on an annual and interim basis. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and
interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the provisions of the
updated guidance and assessing the impact on the Consolidated financial statements.
Income tax disclosures
In November 2023, the FASB issued guidance, ASU 2023-09, which enhances annual income tax disclosures. ASU
2023-09 requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on
income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024. The Company is
currently evaluating the provisions of the updated guidance and assessing the impact on the Consolidated financial statements.
v3.25.0.1
Revenues
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues NOTE 3 — Revenues
Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that
reflects the consideration the Company expects to be entitled to in exchange for those goods or services.
The Company's Consolidated statements of operations and comprehensive income (loss) present revenues disaggregated by
revenue type. Sales taxes and other usage-based taxes are excluded from revenues.
The following tables present our revenues disaggregated by segment and revenue type:
Year ended December 31, 2024
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate
and other
Intersegment
eliminations
Consolidated
Digital advertising
$292,897
$53,481
$—
$—
$—
$346,378
Digital marketing services
142,120
7,941
477,807
—
(151,819)
476,049
Digital-only subscription
181,670
7,158
—
—
—
188,828
Digital other
76,027
10,713
—
5,656
—
92,396
Digital
692,714
79,293
477,807
5,656
(151,819)
1,103,651
Print advertising
451,589
74,211
—
—
—
525,800
Print circulation
582,965
67,082
—
—
—
650,047
Commercial and other(a)
211,130
18,687
—
—
—
229,817
Print and commercial
1,245,684
159,980
—
—
—
1,405,664
Total revenues
$1,938,398
$239,273
$477,807
$5,656
$(151,819)
$2,509,315
(a) For the year ended December 31, 2024, included $141.8 million of Commercial printing and delivery revenues at the Domestic Gannett Media segment and
$10.2 million of Commercial printing revenues at the Newsquest segment.
Year ended December 31, 2023
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate
and other
Intersegment
eliminations
Consolidated
Digital advertising
$283,249
$50,362
$—
$—
$—
$333,611
Digital marketing services
140,589
8,920
477,909
—
(150,460)
476,958
Digital-only subscription
150,384
5,237
—
—
—
155,621
Digital other
67,521
10,391
—
6,268
—
84,180
Digital
641,743
74,910
477,909
6,268
(150,460)
1,050,370
Print advertising
501,701
74,844
—
—
—
576,545
Print circulation
704,158
68,042
—
—
—
772,200
Commercial and other(a)
248,251
16,184
—
—
—
264,435
Print and commercial
1,454,110
159,070
—
—
—
1,613,180
Total revenues
$2,095,853
$233,980
$477,909
$6,268
$(150,460)
$2,663,550
(a) For the year ended December 31, 2023, included $178.1 million of Commercial printing and delivery revenues at the Domestic Gannett Media segment and
$8.0 million of Commercial printing revenues at the Newsquest segment.
Year ended December 31, 2022
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate
and other
Intersegment
eliminations
Consolidated
Digital advertising
$306,456
$50,890
$—
$—
$—
$357,346
Digital marketing services
133,219
9,263
468,883
—
(143,456)
467,909
Digital-only subscription
127,671
4,947
—
—
—
132,618
Digital other
65,757
9,510
—
5,440
—
80,707
Digital
633,103
74,610
468,883
5,440
(143,456)
1,038,580
Print advertising
594,741
76,141
—
—
—
670,882
Print circulation
884,854
67,165
—
—
—
952,019
Commercial and other(a)
267,108
16,714
—
—
—
283,822
Print and commercial
1,746,703
160,020
—
—
—
1,906,723
Total revenues
$2,379,806
$234,630
$468,883
$5,440
$(143,456)
$2,945,303
(a) For the year ended December 31, 2022, included $204.8 million of Commercial printing and delivery revenues at the Domestic Gannett Media segment and
$7.0 million of Commercial printing revenues at the Newsquest segment.
Revenues generated from international operations comprised 11.2%, 10.3%, and 9.3% of total revenues for the years ended
December 31, 2024, 2023, and 2022, respectively.
The following table presents the change in the deferred revenues balances for the years ended December 31,:
In thousands
2024
2023
Beginning balance
$120,502
$153,648
Receipts, net of refunds
1,023,636
1,097,699
Revenue recognized
(1,036,138)
(1,130,845)
Ending balance
$108,000
$120,502
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases NOTE 4 — Leases
We lease certain real estate, vehicles, and equipment. Our leases have remaining lease terms of one to 12 years, some of
which may include options to extend the leases, and some of which may include options to terminate the leases. The exercise of
lease renewal options is at our sole discretion. The depreciable lives of assets and leasehold improvements are limited by the
expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise.
The components of lease expense are as follows:
Year ended December 31,
In thousands
2024
2023
2022
Operating lease cost(a)
$52,417
$64,845
$73,103
Short-term lease cost(b)
938
900
929
Variable lease cost
12,390
13,200
13,002
Net lease cost
$65,745
$78,945
$87,034
(a) Includes sublease income of $8.3 million, $9.1 million, and $7.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.
(b) Excludes expenses relating to leases with a lease term of one month or less.
In 2023, the Company sold two properties in Michigan and Arizona for a total of $60.5 million, which resulted in a net gain
of $39.3 million. Contemporaneously with the closing of the sales, the Company entered into leases pursuant to which we
leased back the properties for cumulative annual rent of $39.9 million, subject to annual escalations. The leases are accounted
for as operating leases.
Supplemental information related to leases are as follows:
Year ended December 31,
In thousands, except lease term and discount rate
2024
2023
2022
Cash paid for amounts included in the measurement of operating lease liabilities
$71,985
$76,338
$79,659
Right-of-use assets obtained in exchange for operating lease obligations
6,071
31,501
15,272
Gain on sale and leaseback transactions, net
(105)
(40,221)
(12,249)
Weighted-average remaining lease term (in years)
6.0
6.4
6.8
Weighted-average discount rate
13.2%
13.0%
12.6%
Future minimum lease payments under non-cancellable leases are as follows:
In thousands
Year ended
December 31,
2025
$61,987
2026
50,461
2027
42,486
2028
38,113
2029
37,293
Thereafter
74,223
Total future minimum lease payments
304,563
Less: Imputed interest
97,071
Total
$207,492
As of December 31, 2024, we have entered into leases that have not yet commenced with future lease payments of $0.9
million, which are not yet recorded on the Consolidated balance sheet.
v3.25.0.1
Accounts receivable, net
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Accounts receivable, net NOTE 5 — Accounts receivable, net
The Company performs its evaluation of the collectability of trade receivables based on customer category. For example,
trade receivables from individual subscribers to our publications are evaluated separately from trade receivables related to
advertising customers. For advertising trade receivables, the Company applies a "black motor formula" methodology as the
baseline to calculate the allowance for credit losses. The reserve percentage is calculated as a ratio of total net bad debts (less
write-offs and recoveries) for the prior three-year period to total outstanding trade accounts receivable for the same three-year
period. The calculated reserve percentage by customer category is applied to the consolidated gross advertising receivable
balance, irrespective of aging. In addition, each category has specific reserves for at risk accounts that vary based on the nature
of the underlying trade receivables. Due to the short-term nature of our circulation receivables, the Company reserves all
receivables aged over 90 days.
The following table presents changes in the allowance for credit losses:
Year ended December 31,
In thousands
2024
2023
Beginning balance
$16,338
$16,697
Current period provision
5,155
12,316
Write-offs charged against the allowance
(10,564)
(17,143)
Recoveries of amounts previously written-off
2,676
4,325
Other
(9)
143
Ending balance
$13,596
$16,338
The calculation of the allowance considers current economic, industry and customer-specific conditions relative to their
respective operating environments in the incremental allowances recorded related to high-risk accounts, bankruptcies,
receivables in repayment plan and other aging specific reserves. As a result of this analysis, the Company adjusts specific
reserves and the amount of allowable credit as appropriate. The collectability of trade receivables related to advertising,
marketing services and other customers depends on a variety of factors, including trends in local, regional, or national economic
conditions that affect our customers' ability to pay. The advertisers in our newspapers and other publications and related
websites are primarily retail businesses that can be significantly affected by regional or national economic downturns and other
developments that may impact our ability to collect on the related receivables. Similarly, while circulation revenues related to
individual subscribers are primarily prepaid, changes in economic conditions may also affect our ability to collect on amounts
owed from single copy circulation customers.
For the years ended December 31, 2024 and 2023, the Company recorded bad debt expense of $5.2 million and $12.3
million, respectively, which is included in Selling, general and administrative expenses on the Consolidated statements of
operations and comprehensive income (loss). The decrease in bad debt expense for the year ended December 31, 2024, was
primarily due to stronger collections as well as the reversal of special reserves no longer needed in 2024.
v3.25.0.1
Goodwill and intangible assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets NOTE 6 — Goodwill and intangible assets
Goodwill and intangible assets consisted of the following:
December 31, 2024
December 31, 2023
In thousands
Gross
carrying
amount
Accumulated
amortization
Net
carrying
amount
Gross
carrying
amount
Accumulated
amortization
Net
carrying
amount
Finite-lived intangible assets:
Advertiser relationships
$445,356
$279,176
$166,180
$446,609
$236,168
$210,441
Other customer relationships
89,106
59,198
29,908
101,819
56,601
45,218
Subscriber relationships
250,820
183,895
66,925
251,099
155,528
95,571
Other intangible assets
66,870
66,212
658
68,780
62,536
6,244
Sub-total
$852,152
$588,481
$263,671
$868,307
$510,833
$357,474
Indefinite-lived intangible assets:
Mastheads
166,703
166,876
Total intangible assets
$430,374
$524,350
Goodwill
$530,028
$533,876
As of December 31, 2024, the weighted average amortization periods for amortizable intangible assets were 11.1 years for
advertiser relationships, 10.0 years for other customer relationships, 10.3 years for subscriber relationships, and 3.9 years for
other intangible assets. The weighted average amortization period in total for all amortizable intangible assets is 10.2 years.
For the years ended December 31, 2024, 2023, and 2022, amortization expense was $88.1 million, $90.0 million, and $95.6
million, respectively.
As of December 31, 2024, the estimated future amortization expense for each of the five fiscal years was as follows: 2025 -
$80.7 million; 2026 - $62.2 million; 2027 - $60.9 million; 2028 - $26.0 million; and 2029 and thereafter - $33.8 million.
Changes in the carrying amount of Goodwill by segment are as follows:
In thousands
Domestic Gannett
Media
Newsquest
Digital Marketing
Solutions
Total
Balance at December 31, 2022
$401,106
$14,589
$117,471
$533,166
Acquisitions
—
30
—
30
Divestitures
(46)
(82)
—
(128)
Foreign exchange
(3)
811
—
808
Balance at December 31, 2023
$401,057
$15,348
$117,471
$533,876
Divestitures
(3,662)
—
—
(3,662)
Foreign exchange
13
(199)
—
(186)
Balance at December 31, 2024
$397,408
$15,149
$117,471
$530,028
As of both December 31, 2024 and 2023, the carrying amount of goodwill reflected accumulated impairment losses of
$340.8 million, $70.5 million and $44.1 million related to impairments at the Domestic Gannett Media, Newsquest and DMS
segments, respectively.
Annual impairment assessment
The Company performed its goodwill and indefinite-lived intangible impairment assessment in the fourth quarter of 2024
with the assistance of third-party valuation specialists. Determining fair value requires the exercise of significant judgments,
including judgments about appropriate discount rates, long-term growth rates, company earnings multiples and relevant
comparable transactions, as applicable, and the amount and timing of expected future cash flows. The cash flows employed in
the analysis are based on the Company's internal forecasts, which considered the current and expected future economic and
market conditions for each reporting unit. The long-term growth rates are dependent on various factors and could be adversely
impacted by a sustained decrease in overall market growth rates, the competitive environment, relative currency exchange rates
and a sustained increase in inflation, all of which the Company considered in determining the long-term growth rates used in
the 2024 analysis, which ranged from 0% to 3.0%. The discount rates for each reporting unit are determined based on the
inherent risks of each reporting unit's underlying operations and may be impacted by adverse changes in the macroeconomic
environment and volatility in the equity and debt markets. The Company considered these factors in determining the discount
rates used in the 2024 analysis, which ranged from 13.5% to 20.0%.
For goodwill, the Company determined the fair value of each reporting unit using a combination of a discounted cash flow
analysis and a market-based approach. During the fourth quarter of 2024, the Company compared the fair value of each
reporting unit to its carrying amount, which resulted in the fair value of all the reporting units being in excess of their carrying
values.
For mastheads, the Company applied a "relief from royalty" approach, a discounted cash flow model, reflecting current
assumptions, to determine the fair value of indefinite-lived intangible assets. During the fourth quarter of 2024, the Company
compared the fair value of each indefinite-lived intangible asset to its carrying amount, which resulted in the fair value of each
indefinite-lived intangible asset being in excess of its carrying value.
In addition to the annual impairment test, the Company is required to regularly assess whether a triggering event has
occurred under ASC 360, "Property, Plant and Equipment ("ASC 360"), which would require interim impairment testing. As of
December 31, 2024, the Company performed a review of potential indicators for its long-lived asset groups under ASC 360 and
it was determined that no indicators of impairment were present.
During 2023 and 2022, there were no impairments of goodwill and indefinite-lived intangible assets.
While the Company believes its judgments represent reasonably possible outcomes based on available facts and
circumstances, adverse changes to the assumptions, including those related to macroeconomic factors, comparable public
company trading values and prevailing conditions in the capital markets, could lead to future declines in the fair value of a
reporting unit. The Company continually evaluates whether current factors or indicators, such as prevailing conditions in the
business environment, capital markets or the economy generally, and actual or projected operating results, require the
performance of an interim impairment assessment of goodwill, as well as other long-lived assets. For example, any significant
shortfall, now or in the future, in advertising revenues or subscribers and/or consumer acceptance of our products could lead to
a downward revision in the fair value of certain reporting units.
v3.25.0.1
Integration and reorganization costs and asset impairments
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Integration and reorganization costs and asset impairments NOTE 7 — Integration and reorganization costs and asset impairments
Integration and reorganization costs
Integration and reorganization costs include severance costs as well as other reorganization-related costs associated with
individual restructuring programs, designed primarily to right-size the Company's employee base, consolidate facilities and
improve operations. These initiatives impact all the Company's operations and can be influenced by the terms of union
contracts. Costs related to these programs, which primarily include severance and other reorganization-related costs, are
accrued when probable and reasonably estimable or at the time of program announcement.
Severance-related expenses
The Company recorded severance-related expenses by segment as follows:
Year ended December 31,
In thousands
2024
2023
2022
Domestic Gannett Media
$11,529
$9,935
$40,654
Newsquest
884
1,762
4,216
Digital Marketing Solutions
1,254
756
434
Corporate and other
1,481
6,064
12,310
Total
$15,148
$18,517
$57,614
A roll-forward of the accrued severance and related expenses included in Accounts payable and accrued liabilities on the
Consolidated balance sheets for the years ended December 31, 2024 and 2023 is as follows:
In thousands
Severance and
related expenses
Balance at December 31, 2022
$29,773
Restructuring provision included in integration and reorganization costs
18,517
Cash payments
(41,362)
Balance at December 31, 2023
6,928
Restructuring provision included in integration and reorganization costs
15,148
Cash payments
(16,585)
Balance at December 31, 2024
$5,491
Other reorganization-related costs
Other reorganization-related costs represent individual restructuring programs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations. The Company recorded Other reorganization-related
costs by segment as follows:
Year ended December 31,
In thousands
2024
2023
2022
Domestic Gannett Media(a)
$38,096
$(4,353)
$14,921
Newsquest(b)
(1,397)
1
209
Digital Marketing Solutions
807
28
674
Corporate and other
13,501
10,275
14,556
Total
$51,007
$5,951
$30,360
(a)For the year ended December 31, 2024, Other restructuring-related costs at the Domestic Gannett Media segment primarily reflected $25.9 million related to
withdrawal liabilities which were expensed as a result of ceasing contributions to multiemployer pension plans and $9.7 million expensed as of the cease-use
date related to certain licensed content. For the year ended December 31, 2023, Other restructuring-related costs at the Domestic Gannett Media segment
reflected the reversal of $6.4 million of withdrawal liabilities related to multiemployer pension plans based on settlement of the withdrawal liability. For the
year ended December 31, 2022, Other restructuring-related costs at the Domestic Gannett Media segment reflected a withdrawal liability of $8.6 million
which was expensed as a result of ceasing contributions to a multiemployer pension plan, as well as facilities consolidation expenses associated with exiting
a lease.
(b) For the year ended December 31, 2024, Other restructuring-related costs at the Newsquest segment primarily reflected the reversal of a withdrawal liability
of $1.4 million related to a pension plan based on settlement of the withdrawal liability.
Asset impairments
Corporate office relocation
On March 1, 2024, we exited and ceased use of our leased facility in McLean, Virginia and moved our corporate
headquarters to our existing office space in New York. We will continue to seek subleases for the leased facility in McLean. As
a result of the headquarters relocation, we recorded an impairment charge of approximately $46.0 million during the year ended
December 31, 2024 related to the McLean operating lease right-of-use asset and the associated leasehold improvements. The
fair value was measured using a discounted cash flow model based on market rents projected over the remaining lease term,
which goes through October 2030.
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt NOTE 8 — Debt
The Company's debt as of December 31, 2024 and 2023 consisted of the financing arrangements described below.
December 31, 2024
December 31, 2023
In millions
Principal
balance
Unamortized
original issue
discount
Unamortized
deferred
financing
costs
Carrying
value
Principal
balance
Unamortized
original issue
discount
Unamortized
deferred
financing
costs
Carrying
value
2029 Term Loan Facility
$850.0
$(12.2)
$(7.7)
$830.1
$—
$—
$—
$—
Senior Secured Term Loan
—
—
—
—
350.4
(5.2)
(1.1)
344.1
2026 Senior Notes
—
—
—
—
291.6
(5.8)
(4.6)
281.2
2031 Notes
223.7
(5.0)
(2.8)
215.9
—
—
—
—
2027 Notes
38.1
(4.2)
(0.1)
33.8
485.3
(67.8)
(1.5)
416.0
2024 Notes
—
—
—
—
3.3
—
—
3.3
Total debt
$1,111.8
$(21.4)
$(10.6)
$1,079.8
$1,130.6
$(78.8)
$(7.2)
$1,044.6
Less: Current portion of
long-term debt
$(74.3)
$—
$—
$(74.3)
$(63.8)
$—
$—
$(63.8)
Non-current portion of
long-term debt
$1,037.5
$(21.4)
$(10.6)
$1,005.5
$1,066.8
$(78.8)
$(7.2)
$980.8
Term Loans
2029 Term Loan Facility
On October 15, 2024 (the "Closing Date"), the Company entered into an Amendment and Restatement Agreement (the
"Amendment and Restatement Agreement") among the Company, as a guarantor, Gannett Holdings LLC ("Gannett Holdings"),
a wholly owned subsidiary of the Company, as the borrower (in such capacity, the "Borrower"), certain subsidiaries of the
Borrower as guarantors, the lenders party thereto, Citibank, N.A., as the existing collateral agent and administrative agent for
the lenders, and Apollo Administrative Agency LLC, as the successor collateral agent and administrative agent for the lenders,
which amended and restated the Company's existing First Lien Credit Agreement dated as of October 15, 2021 (as amended,
supplemented or otherwise modified from time to time prior to the Closing Date, the "Existing Credit Agreement"; the Existing
Credit Agreement, as amended and restated by the Amendment and Restatement Agreement, the "Amended Credit
Agreement") by and among the Company, as guarantor, the Borrower, certain subsidiaries of the Borrower as guarantors and
Citibank, N.A., as administrative agent and collateral agent. The Amended Credit Agreement provides for a new $900.0 million
five-year first lien term loan facility (the "2029 Term Loan Facility"), which refinanced and replaced the Company's existing
Senior Secured Term Loan (defined below). The 2029 Term Loan Facility is comprised of an initial term loan facility of $850.4
million, funded on the Closing Date (the "2029 Initial Draw Facility"), and a delayed draw term loan facility of $49.6 million
(the "2029 Delayed Draw Facility"), which has been made available to the Borrower at its discretion from the Closing Date and
for a period of six months thereafter, subject to certain terms and conditions. As of December 31, 2024, no amounts have been
drawn under the 2029 Delayed Draw Facility. As of the Closing Date, the lenders under the Amended Credit Agreement
consisted primarily of funds, accounts or other clients managed by Apollo Capital Management, L.P. or its affiliates (the
"Apollo Funds"), with $40.4 million of loans being provided by investors that elected the Loan Option Consideration in the
2026 Senior Notes Exchange Offer (as defined below). Pursuant to the Amended Credit Agreement, Apollo Administrative
Agency LLC was appointed as the successor administrative agent and the successor collateral agent to Citibank, N.A.
The 2029 Term Loan Facility bears interest at an annual rate equal, at the Borrower's option, to either (i) an alternate base
rate (which shall not be less than 2.50% per annum) plus a margin equal to 4.00% per annum or (ii) Adjusted Term SOFR
(which shall be no less than 1.50%) plus a margin equal to 5.00% per annum. The 2029 Term Loan Facility will mature on
October 15, 2029 and will be freely prepayable without penalty.
The 2029 Term Loan Facility is amortized at a rate of $17.0 million per quarter, with such rate to be adjusted upon the
borrowing of any delayed-draw term loans to the extent necessary to cause such delayed-draw term loans to be fungible with
the initial term loans under the 2029 Term Loan Facility. In addition, we are required to repay the 2029 Term Loan Facility
from time to time with (i) the proceeds of non-ordinary course asset sales and casualty and condemnation events, (ii) the
proceeds of indebtedness that is not otherwise permitted under the 2029 Term Loan Facility and (iii) the aggregate amount of
cash and cash equivalents on hand at the Company and our restricted subsidiaries in excess of $100.0 million as of the last day
of any fiscal year of the Company (beginning with the fiscal year ended December 31, 2024).
Proceeds from the 2029 Initial Draw Facility, funded on the Closing Date, were used on the Closing Date to prepay in full
the Senior Secured Term Loan (as defined below), to repurchase the 2026 Senior Notes (as defined below) that were tendered
by the holders thereof in the 2026 Senior Notes Exchange Offer and to repurchase the 2027 Notes (as defined below) that were
exchanged by the holders thereof on the Closing Date pursuant to the Convertible Notes Exchange (as defined below).
The proceeds of the 2029 Delayed Draw Facility may be used to repurchase, redeem, defease or otherwise discharge
outstanding 2027 Notes not exchanged in the Convertible Notes Exchange.
As of December 31, 2024, the 2029 Term Loan Facility was recorded at carrying value, which approximated fair value, in
the Consolidated balance sheet and was classified as Level 2. As of December 31, 2024, the Company was in compliance with
all of the covenants and obligations under the 2029 Term Loan Facility.
Senior Secured Term Loan
On October 15, 2021, Gannett Holdings entered into the Senior Secured Term Loan in an original aggregate principal
amount of $516.0 million (the "Senior Secured Term Loan") with Citibank N.A., as collateral agent and administrative agent
for the lenders. On January 31, 2022, Gannett Holdings entered into an amendment (the "Term Loan Amendment") to the
Senior Secured Term Loan to provide for new incremental senior secured term loans (the "Incremental Term Loans") in an
aggregate principal amount of $50 million. The Incremental Term Loans had substantially identical terms as the Senior Secured
Term Loan and were treated as a single tranche with the Senior Secured Term Loan. The Term Loan Amendment also amended
the Senior Secured Term Loan to transition the interest rate base from the London Interbank Offered Rate ("LIBOR") to the
Adjusted Term Secured Overnight Financing Rate ("Adjusted Term SOFR"). During 2022, Gannett Holdings entered into two
separate amendments to the Senior Secured Term Loan to provide for incremental senior secured term loans totaling an
aggregate principal amount of $30.0 million (collectively, the "Exchanged Term Loans"). The Exchanged Term Loans had
substantially identical terms as the Senior Secured Term Loan and Incremental Term Loans and were treated as a single tranche
with the Senior Secured Term Loan and the Incremental Term Loans. As noted above, in October 2024, the 2029 Term Loan
Facility refinanced and replaced the Senior Secured Term Loan.
The Senior Secured Term Loan bore interest at a per annum rate equal to the Adjusted Term SOFR (which shall not be less
than 0.50% per annum) plus a margin equal to 5.00% or an alternate base rate (which shall not be less than 1.50% per annum)
plus a margin equal to 4.00%. Loans under the Senior Secured Term Loan were able to be prepaid, at the option of Gannett
Holdings, at any time without premium. In addition, we were required to repay the Senior Secured Term Loan from time to
time with (i) the proceeds of non-ordinary course asset sales and casualty and condemnation events, (ii) the proceeds of
indebtedness not permitted under the Senior Secured Term Loan, and (iii) the aggregate amount of cash and cash equivalents on
hand at the Company and its restricted subsidiaries in excess of $100 million at the end of each fiscal year of the Company.
Subsequent to the amendment effective as of April 8, 2022, the Senior Secured Term Loan was amortized at $15.1 million per
quarter (or, if the ratio of debt secured on an equal basis with the Senior Secured Term Loan less unrestricted cash of the
Company and its restricted subsidiaries to Consolidated EBITDA (as such terms were defined in the Senior Secured Term
Loan) (such ratio, the "First Lien Net Leverage Ratio"), for the most recently ended period of four consecutive fiscal quarters
was equal to or less than 1.20 to 1.00, $7.6 million per quarter). All obligations under the Senior Secured Term Loan were
secured by all or substantially all of the assets of the Company and the wholly-owned domestic subsidiaries of the Company
(the "Senior Secured Term Loan Guarantors"). The obligations of Gannett Holdings under the Senior Secured Term Loan were
guaranteed on a senior secured basis by the Company and the Senior Secured Term Loan Guarantors.
During the year ended December 31, 2024, the Company received a waiver from certain lenders of the Senior Secured Term
Loan that reduced the scheduled quarterly amortization payments payable to those lenders by $12.0 million for the year ended
December 31, 2024, and which was the amount used by the Company to repurchase a portion of its 2026 Senior Notes (defined
below) in March 2024.
As of December 31, 2023, the Senior Secured Term Loan was recorded at carrying value, which approximated fair value, in
the Consolidated balance sheet and was classified as Level 2.
Term Loan Summary
The 2029 Term Loan Facility contains and the Senior Secured Term Loan (collectively with the 2029 Term Loan Facility,
the "Term Loans") contained usual and customary covenants for credit facilities of this type, including a requirement to have
minimum unrestricted cash of $30 million as of the last day of each fiscal quarter, and restricts, among other things, our ability
to incur debt, grant liens, sell assets, make investments and pay dividends, in each case with customary exceptions, including an
exception that permits dividends and repurchases of outstanding junior debt or equity in (i) an amount of up to $25 million per
fiscal quarter if the First Lien Net Leverage Ratio for such fiscal quarter is equal to or less than 2.00 to 1.00 but greater than
1.50 to 1.00, (ii) an amount of up to $50 million per fiscal quarter if the First Lien Net Leverage Ratio for such fiscal quarter is
equal to or less than 1.50 to 1.00 but greater than 1.00 to 1.00, and (iii) an unlimited amount if the First Lien Net Leverage
Ratio for such fiscal quarter is equal to or less than 1.00 to 1.00.
There were certain lenders that participated in the 2029 Term Loan Facility, whose balances in the Senior Secured Term
Loan and the 2026 Senior Notes were deemed to be modified. As a result, the Company continues to defer, over the term of the
2029 Term Loan Facility, the original issue discount and deferred financing fees from the Senior Secured Term Loan of $1.3
million and $0.3 million, respectively, and original issue discount and deferred financing fees from the 2026 Senior Notes of
$0.9 million and $0.7 million, respectively, related to those lenders.
Original issue discount of $10.6 million was allocated to both the new lenders in the 2029 Term Loan Facility as well as
those lenders whose balances in the Senior Secured Term Loan and the 2026 Senior Notes were deemed to be modified on a
pro-rata basis. Additionally, deferred financing fees of $7.1 million were allocated to the new lenders in the 2029 Term Loan
Facility, as well as those lenders whose balances in the Senior Secured Term Loan and the 2026 Senior Notes were deemed to
be extinguished. Such amounts were capitalized and are being amortized over the term of the 2029 Term Loan Facility using
the effective interest method.
For the year ended December 31, 2024, original issue discount of $2.2 million related to the 2029 Term Loan Facility was
allocated to the lenders whose balances in the Senior Secured Term Loan and the 2026 Senior Notes were deemed to be
extinguished and third-party fees of $5.0 million related to the 2029 Term Loan Facility were allocated to the lenders whose
balances in the Senior Secured Term Loan and the 2026 Senior Notes were deemed to be modified. Such amounts were
expensed and recorded in Other operating expenses in the Consolidated statements of operations and comprehensive income
(loss).
In connection with the Term Loans, during the years ended December 31, 2024 and 2023, the Company recognized interest
expense of $45.0 million and $40.0 million, respectively, and paid cash interest of $42.5 million and $40.0 million,
respectively. For the years ended December 31, 2024 and 2023, the Company recognized amortization of original issue
discount of $2.3 million and $2.8 million, respectively, and amortization of deferred financing costs of $0.7 million and $0.6
million, respectively. Additionally, during the years ended December 31, 2024 and 2023, the Company recognized a loss on
early extinguishment of debt of $2.5 million and $1.1 million, respectively, related to the write-off of original issue discount
and deferred financing costs as a result of early prepayments on the Term Loans.
For the year ended December 31, 2024, the Company prepaid $350.4 million, including quarterly amortization payments, on
the Senior Secured Term Loan, and prepaid $0.5 million on the 2029 Term Loan Facility, which were classified as financing
activities in the Consolidated statements of cash flows. As of December 31, 2024, the effective interest rate for the 2029 Term
Loan Facility was 10.1%.
2026 Senior Notes
On October 15, 2021, Gannett Holdings completed a private offering of $400 million aggregate principal amount of 6.00%
first lien notes due November 1, 2026 (the "2026 Senior Notes"). The 2026 Senior Notes were issued pursuant to an indenture,
dated October 15, 2021 (the "2026 Senior Notes Indenture") among Gannett Holdings, the Company, the guarantors from time
to time party thereto (the "2026 Senior Notes Guarantors"), U.S. Bank National Association, as trustee, and U.S. Bank National
Association, as collateral agent, registrar, paying agent and authenticating agent.
In March 2024, the Company entered into a privately negotiated agreement with certain holders of our 2026 Senior Notes,
pursuant to which the Company repurchased $13.0 million of principal of our outstanding 2026 Senior Notes at a discount to
par value. In connection with the repurchase of our 2026 Senior Notes in March 2024, the Company received the 2024 Waiver
from certain lenders of the Senior Secured Term Loan, which was used to reduce the scheduled quarterly amortization
payments payable to those lenders by approximately $12.0 million.
On October 15, 2024, the Company and Gannett Holdings completed an offer to exchange (the "2026 Senior Notes
Exchange Offer") any and all outstanding 2026 Senior Notes for, at the election of each holder of 2026 Senior Notes, either (a)
(i) term loans under the 2029 Term Loan Facility and (ii) an upfront fee equal to 1.5% of such term loans (together with the
term loans, the "Loan Option Consideration"); or (b) cash (the "Cash Option Consideration").
Pursuant to the 2026 Senior Notes Exchange Offer, $274.7 million in aggregate principal amount of the 2026 Senior Notes
were tendered and accepted for exchange and subsequently canceled. 2026 Senior Notes in an aggregate principal amount of
$40.4 million were exchanged for the Loan Option Consideration and 2026 Senior Notes in an aggregate principal amount of
$234.3 million were exchanged for the Cash Option Consideration. Pursuant to the 2026 Senior Notes Exchange Offer, the
Company paid aggregate cash consideration of $234.9 million (including the Cash Option Consideration and the upfront fee
included in the Loan Option Consideration).
On December 4, 2024, Gannett Holdings redeemed the remaining $3.9 million in aggregate principal amount of the 2026
Senior Notes outstanding (the "2026 Senior Notes Redemption") using the proceeds of non-ordinary course asset sales and cash
on hand.
During the year ended December 31, 2024, as a result of the March 2024 privately negotiated agreement with certain
holders of our 2026 Senior Notes, the 2026 Senior Notes Exchange Offer and the 2026 Senior Notes Redemption, the Company
recognized a loss on the early extinguishment of debt of $5.1 million, which included the write-off of original issue discount
and unamortized deferred financing costs. In addition, during the year ended December 31, 2023, as a result of privately
negotiated agreements with certain holders of our 2026 Senior Notes pursuant to which the Company repurchased $53.6 million
of outstanding 2026 Senior Notes at a discount to par value, the Company recognized a gain on the early extinguishment of debt
of $5.6 million, which included the write-off of original issue discount and unamortized deferred financing costs.
As of December 31, 2023, the 2026 Senior Notes were recorded at carrying value in the Consolidated balance sheet.
For the years ended December 31, 2024 and 2023, the Company recognized interest expense of $13.4 million and $19.5
million, respectively, and paid cash interest of $16.3 million and $20.1 million, respectively. For the years ended December 31,
2024 and 2023, the Company recognized amortization of original issue discount of $1.6 million and $2.3 million, respectively,
and amortization of deferred financing costs of $1.2 million and $1.8 million, respectively.
Senior Secured Convertible Notes due 2027, Senior Secured Convertible Notes due 2031, and the Convertible Notes
Exchange
The 6.000% Senior Secured Convertible Notes due 2027 (the "2027 Notes") were issued pursuant to an Indenture dated as
of November 17, 2020 (as amended, supplemented or otherwise modified from time to time, the "2027 Notes Indenture"),
between the Company and U.S. Bank National Association, as trustee.
In connection with the issuance of the 2027 Notes, the Company entered into an Investor Agreement (the "Investor
Agreement") with the holders of the 2027 Notes (the "Holders") establishing certain terms and conditions concerning the rights
and restrictions on the Holders with respect to the Holders' ownership of the 2027 Notes. The Company also entered into an
amendment to the Registration Rights Agreement dated November 19, 2019, between the Company and FIG LLC.
On October 15, 2024, the Company completed privately negotiated transactions with certain holders of 2027 Notes
pursuant to which it (i) repurchased a total of $223.6 million in aggregate principal amount of 2027 Notes for cash at a rate of
$1,110 per $1,000 principal amount of 2027 Notes, for aggregate cash consideration of $248.2 million and (ii) exchanged a
total of $223.6 million in aggregate principal amount of 2027 Notes for new 6.000% Senior Secured Convertible Notes due
2031 (the "2031 Notes" and such repurchase and exchange, collectively, the "Convertible Notes Exchange"). The Company
also paid accrued and unpaid interest of approximately $10.0 million to the holders of 2027 Notes who participated in the
Convertible Notes Exchange.
Additionally, on October 15, 2024, the Company issued and sold $110,000 in aggregate principal amount of 2031 Notes in
a privately negotiated transaction (the "2031 Notes Sale").
The 2031 Notes were issued pursuant to an indenture, dated as of October 15, 2024 (the "2031 Notes Indenture"), among
the Company, the guarantors party thereto, U.S. Bank Trust Company, National Association, as trustee, and Alter Domus
Products Corp, as collateral agent.
Concurrently with the Convertible Notes Exchange, the Company and the guarantors party thereto entered into a
supplemental indenture to the 2027 Notes Indenture pursuant to which (i) substantially all of the restrictive covenants contained
in the 2027 Notes Indenture were eliminated, (ii) certain of the default provisions contained in the 2027 Notes Indenture were
eliminated and (iii) certain related provisions were amended to conform with such eliminations.
Interest on the 2027 Notes and 2031 Notes is payable semi-annually in arrears, and the 2027 Notes and 2031 Notes mature
on December 1, 2027, and December 1, 2031, respectively, unless earlier repurchased or converted. The 2027 Notes and 2031
Notes may be converted at any time by the holders thereof into cash, shares of the Company's common stock, par value $0.01
per share (the "Common Stock") or any combination of cash and Common Stock, at the Company's election. The initial
conversion rate for both the 2027 Notes and the 2031 Notes is 200 shares of Common Stock per $1,000 principal amount of the
2027 Notes and the 2031 Notes, respectively, which is equal to a conversion price of $5.00 per share of Common Stock (the
"Conversion Price"). As of December 31, 2024, the amount by which the 2027 Notes and the 2031 Notes if-converted value
exceeded its principal was $0.5 million and $2.7 million, respectively.
Upon the occurrence of a "Make-Whole Fundamental Change" (as defined in the 2027 Notes Indenture and the 2031 Notes
Indenture), the Company will in certain circumstances increase the conversion rate for the 2027 Notes and the 2031 Notes for a
specified period of time. If a "Fundamental Change" (as defined in the 2027 Notes Indenture and the 2031 Notes Indenture)
occurs, the Company will be required to offer to repurchase the 2027 Notes and the 2031 Notes at a repurchase price of 110%
of the principal amount thereof.
Under the 2031 Notes Indenture, the Company can only pay cash dividends up to an agreed-upon amount, provided the
ratio of consolidated debt to EBITDA (as such term is defined in the 2031 Notes Indenture) does not exceed a specified ratio. In
addition, the 2031 Notes Indenture provides that, at any time that the Company's Total Gross Leverage Ratio (as defined in the
2031 Notes Indenture) exceeds 1.5 and the Company approves the declaration of a dividend, the Company must offer to
purchase a principal amount of 2031 Notes equal to the proposed amount of the dividend.
The Company will have the right to redeem for cash up to the lesser of (i) approximately $72.8 million and (ii) 30% of the
aggregate principal amount of 2031 Notes issued pursuant to the 2031 Notes Indenture, in either case, with such amount
reduced by 30% of the principal amount of 2031 Notes that has been converted by the holders of the 2031 Notes or redeemed or
repurchased by the Company, at a redemption price of 140% of the principal amount thereof, on or prior to December 1, 2030
(or December 1, 2028 if the 2029 Term Loan Facility is refinanced or amended to permit the redemption of the 2031 Notes in
an amount equal to or greater than such principal amount of 2031 Notes).
The 2027 Notes and 2031 Notes are guaranteed by Gannett Holdings and all subsidiaries of the Company that guarantee
the 2029 Term Loan Facility. The 2027 Notes and 2031 Notes rank as senior secured debt of the Company and are secured by
liens on the same collateral package that secures the indebtedness incurred in connection with the 2029 Term Loan Facility. The
2027 Notes are secured by liens that are junior to the liens securing indebtedness incurred under the 2029 Term Loan Facility
and the 2031 Notes. The 2031 Notes are secured by liens that are junior to the liens securing indebtedness incurred under the
2029 Term Loan Facility but senior to the liens securing the 2027 Notes.
The 2031 Notes Indenture includes affirmative and negative covenants, including limitations on liens, indebtedness,
dispositions, loans, advances and investors, sale and leaseback transactions, restricted payments, transactions with affiliates,
restrictions on dividends and other payment restrictions affecting restricted subsidiaries, negative pledges, and modifications to
certain agreements. The 2031 Notes Indenture also requires that the Company maintain, as of the last day of each fiscal quarter,
at least $30.0 million of Qualified Cash (as defined in the 2031 Notes Indenture). The 2027 Notes Indenture and the 2031 Notes
Indenture include customary events of default.
The 2027 Notes have two components: (i) a debt component, and (ii) an equity component. As of December 31, 2024 and
2023, the debt component of the 2027 Notes was recorded at carrying value in the Consolidated balance sheets. The carrying
value of the 2027 Notes reflected the balance of the unamortized discount related to the value of the conversion feature assessed
at inception and did not approximate fair value as of December 31, 2024. The 2027 Notes were classified as Level 2, and based
on unadjusted quoted prices in the active market obtained from third-party pricing services, the Company determined that the
estimated fair value of the 2027 Notes was $44.6 million as of December 31, 2024, and was primarily affected by fluctuations
in market interest rates and the price of the Company's Common Stock.
In connection with the Convertible Notes Exchange, for the year ended December 31, 2024, the Company recognized a
gain on extinguishment of $114.6 million and a write-off of unamortized original issue discount and unamortized deferred
financing costs of $50.3 million and $1.1 million, respectively. As a result of the Convertible Notes Exchange, the Company
recorded a reduction in Additional paid-in capital of $237.5 million in the Consolidated balance sheet as of December 31, 2024.
As of December 31, 2024, the conversion feature remaining in Additional paid-in capital was $42.0 million, net of tax. The
remaining 2027 Notes are convertible into 7.6 million shares of Common Stock, based on the initial conversion price of $5.00
per share.
The 2031 Notes have two components: (i) a debt component, and (ii) an equity component. The debt component of the
2031 Notes was recorded at its principal value at issuance, and as of December 31, 2024 was recorded at its carrying value in
the Consolidated balance sheet. As of December 31, 2024, the 2031 Notes were classified as Level 2 and the carrying value of
the 2031 Notes approximated fair value.
The excess of the fair value over the principal value of the 2031 Notes was recorded in Additional Paid-in capital as the
2031 Notes were issued at a 50% premium. The equity component of the 2031 Notes was classified as Level 3, as it was
calculated based on the aggregate fair value of the 2031 Notes which used a binomial lattice model and assumptions based on
market information and historical data, and significant unobservable inputs. As of December 31, 2024, the amount of the equity
component recorded in Additional paid-in capital was $80.4 million, net of tax. The 2031 Notes are convertible into 44.7
million shares of Common Stock, based on the initial conversion price of $5.00 per share.
Pursuant to the Convertible Notes Exchange, original issue discount and deferred financing costs of $3.6 million and $2.9
million, respectively, will be amortized over the 7-year contractual life of the 2031 Notes, and the Company also continues to
defer $1.6 million of original issue discount from the 2027 Notes over the 7-year contractual life of the 2031 Notes.
Additionally, original issue discount and deferred financing costs of $4.4 million and $0.1 million, respectively, related to the
remaining 2027 Notes will continue to be amortized over the remaining contractual life of the 2027 Notes.
In connection with the 2027 Notes and the 2031 Notes, for the years ended December 31, 2024 and 2023, the Company
recognized interest expense of $26.2 million and $29.1 million, respectively, and paid cash interest of $27.4 million and $29.1
million, respectively. In connection with the 2027 Notes and the 2031 Notes, for the years ended December 31, 2024 and 2023,
the Company recognized amortization of original issue discount of $11.9 million and $13.4 million, respectively, and
amortization of deferred financing costs of $0.3 million and $0.3 million, respectively. The effective interest rate on the debt
component of the 2027 Notes was 10.50% as of December 31, 2024. The effective interest rate on the debt component of the
2031 Notes was 6.60% as of December 31, 2024.
For the year ended December 31, 2024, no shares of Common Stock were issued upon conversion, exercise, or satisfaction
of the required conditions of the 2027 Notes or the 2031 Notes. Refer to Note 12 — Supplemental equity and other information
for details on the impact of the 2027 Notes and the 2031 Notes to diluted earnings per share under the if-converted method.Senior Convertible Notes due 2024
The $3.3 million principal value of the remaining 4.75% convertible senior notes was repaid on April 15, 2024 (the "2024
Notes"). As of December 31, 2023, the 2024 Notes were reported within the Current portion of long-term debt and were
recorded at carrying value, which approximated fair value, in the condensed consolidated balance sheet and were classified as
Level 2.Future debt obligation payments
Future debt obligation payments for the year ended December 31, are as follows:
In millions
Principal payments
2025
$68.0
2026
68.0
2027
106.1
2028
68.0
2029 and thereafter
801.7
Total debt obligations
$1,111.8
v3.25.0.1
Pensions and other postretirement benefit plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Pensions and other postretirement benefit plans NOTE 9 — Pensions and other postretirement benefit plans
We, along with our subsidiaries, sponsor various defined benefit retirement plans, including plans established under
collective bargaining agreements. Our retirement plans include the (i) Gannett Retirement Plan (the "GR Plan"), (ii) Gannett
Retirement Plan for Certain Union Employees (the "Gannett CUE Plan"), (iii) Newsquest Scheme in the U.K. (the "U.K.
Pension Plan"), (iv) Newspaper Guild of Detroit Pension Plan (the "Detroit Plan"), (v) George W. Prescott Publishing Company
Pension Plan (the "GWP Plan") and (vi) Times Publishing Company Defined Benefit Pension Plan (the "TPC Plan"). The GWP
Plan was amended to freeze all future benefit accruals by December 31, 2008, except for a select group of union employees
whose benefits were frozen in 2009, the GR Plan was amended to freeze all future benefit accruals by August 1, 2008, except
for a select group of unions and the TPC Plan was frozen as of May 31, 2007, prior to the Company's acquisition of the TPC
Plan.
The Company also maintains several postretirement medical and life insurance plans which cover certain employees. We
also provide health care and life insurance benefits to certain retired employees who meet age and service requirements. Most
of our retirees contribute to the cost of these benefits and retiree contributions are increased as actual benefit costs increase. The
cost of providing retiree health care and life insurance benefits is actuarially determined. Our policy is to fund benefits as claims
and premiums are paid. We use a December 31 measurement date for these plans.
The following table presents the change in the projected benefit obligation for the years ended December 31:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2024
2023
Projected benefit obligation at beginning of period
$1,658,045
$1,642,180
$41,719
$47,043
Service cost
998
1,366
35
40
Interest cost
81,500
84,449
2,120
2,334
Change in prior service cost
—
—
—
(3,307)
Actuarial (gain) loss
(101,025)
21,769
(286)
109
Foreign currency translation
(8,174)
33,973
—
—
Benefits and expenses paid
(127,368)
(125,692)
(4,581)
(4,500)
Curtailment
119
—
—
—
Settlement
(964)
—
—
—
Projected benefit obligation at end of period
$1,503,131
$1,658,045
$39,007
$41,719
The following table presents the change in the fair value of plan assets for the years ended December 31, and the plans'
funded status at December 31:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2024
2023
Fair value of plan assets at beginning of period
$1,783,898
$1,720,810
$—
$—
Actual return on plan assets
5,620
150,371
—
—
Employer contributions
7,949
1,441
4,581
4,500
Settlement
(964)
—
—
—
Benefits paid
(127,368)
(125,692)
(4,581)
(4,500)
Foreign currency translation
(9,433)
36,968
—
—
Fair value of plan assets at end of period
$1,659,702
$1,783,898
$—
$—
Funded status at end of period
156,571
125,853
(39,007)
(41,719)
Unrecognized actuarial loss (gain)
76,547
90,813
(11,929)
(13,555)
Unrecognized prior service cost
1,491
1,581
(2,169)
(2,738)
Net prepaid (accrued) benefit cost
234,609
218,247
(53,105)
(58,012)
Amounts recognized in the Consolidated balance sheets at December 31, are listed below:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2024
2023
Other assets
$160,343
$131,881
$—
$—
Accounts payable and accrued liabilities
277
282
4,682
4,804
Pension and other postretirement benefit obligations
3,495
5,746
34,325
36,915
Accumulated other comprehensive (loss) income
(78,038)
(92,394)
14,098
16,293
Net prepaid (accrued) benefit cost
$234,609
$218,247
$(53,105)
$(58,012)
Accumulated pension benefit obligations were $1.5 billion and $1.7 billion as of December 31, 2024 and 2023,
respectively. For the Funded plans, the fair value of plan assets exceeds both the projected benefit obligation and accumulated
benefit obligation. For the Underfunded plans, the projected benefit obligation and accumulated benefit obligation exceed the
fair value of plan assets. The following table presents information about funded and underfunded pension plans at December
31:
Funded plans
Underfunded plans
In thousands
2024
2023
2024
2023
Projected benefit obligation
$1,457,351
$1,602,112
$45,780
$55,933
Accumulated benefit obligation
1,456,629
1,601,306
45,780
55,933
Fair value of plan assets
1,617,694
1,733,993
42,008
49,905
Net periodic benefit cost and amounts recognized in Other comprehensive income (loss)
The combined net pension and postretirement expense (benefit) recognized in the Consolidated statements of operations
and comprehensive income (loss) was $11.4 million, $8.0 million, and $57.1 million for the years ended December 31, 2024,
2023, and 2022, respectively.
The following table presents the components of net periodic benefit cost and amounts recognized in Other comprehensive
income (loss) at December 31, 2024, 2023, and 2022:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2022
2024
2023
2022
Components of net periodic benefit cost:
Operating expenses:
Service cost - benefits earned during the
period
$998
$1,366
$1,754
$35
$40
$77
Non-operating expenses:
Interest cost on benefit obligations
81,500
84,449
71,733
2,120
2,334
1,770
Expected return on plan assets
(96,726)
(95,358)
(131,295)
—
—
—
Amortization of actuarial loss (gain)
2,926
2,185
89
(1,912)
(2,490)
(589)
Amortization of prior service costs
69
67
66
(569)
(569)
—
Settlement loss (gain)
35
—
(727)
—
—
—
Curtailment
119
—
—
—
—
—
Total non-operating (benefit) expense
(12,077)
(8,657)
(60,134)
(361)
(725)
1,181
Total (benefit) expense for retirement plans
$(11,079)
$(7,291)
$(58,380)
$(326)
$(685)
$1,258
Other changes in plan assets and benefit obligations recognized in Other
comprehensive income (loss):
Net actuarial (gain) loss
$(9,919)
$(33,244)
$199,374
$(286)
$109
$(14,092)
Amortization of net actuarial (loss) gain
(2,926)
(2,185)
(89)
1,912
2,490
589
Change in prior service cost
—
—
—
—
(3,307)
—
Amortization of prior service costs
(69)
(67)
(66)
569
569
—
Settlement (loss) gain
(35)
—
—
—
—
—
Equity method investments
(116)
(610)
—
—
—
—
Other
(1,405)
7,415
(5,283)
—
—
—
(Gain) loss recognized in Other comprehensive
income (loss)
$(14,470)
$(28,691)
$193,936
$2,195
$(139)
$(13,503)
Assumptions
The following assumptions were used in connection with the Company's actuarial valuation of its pension plans and
postretirement benefit obligations at December 31:
 
Pension benefits
Postretirement benefits
2024
2023
2024
2023
Weighted average discount rate
5.7%
5.1%
5.8%
5.4%
Rate of increase in future compensation levels(a)
2.0%
2.0%
N/A
N/A
Current year medical trend
N/A
N/A
7.5%
6.3%
Ultimate year medical trend
N/A
N/A
4.5%
4.5%
Year of ultimate trend
N/A
N/A
2037
2031
(a) Relates only to the Newspaper Guild of Detroit defined benefit pension plans.
The following assumptions were used to calculate the net periodic benefit cost for the Company's pension plans and
postretirement benefit obligations at December 31, 2024, 2023, and 2022:
 
Pension benefits
Postretirement benefits
2024
2023
2022
2024
2023
2022
Weighted average discount rate
5.1%
5.4%
3.8%
5.4%
5.7%
3.0%
Rate of increase in future compensation levels(a)
2.0%
2.0%
2.0%
N/A
N/A
N/A
Weighted average expected return on assets
5.6%
5.7%
4.8%
N/A
N/A
N/A
Current year medical trend
N/A
N/A
N/A
6.3%
6.5%
6.0%
Ultimate year medical trend
N/A
N/A
N/A
4.5%
4.5%
4.5%
Year of ultimate trend
N/A
N/A
N/A
2031
2031
2028
(a) Relates only to the Newspaper Guild of Detroit defined benefit pension plans.
To determine the expected long-term rate of return on pension plan assets, the Company considers the current and expected
asset allocations as well as historical and expected returns on various categories of plan assets, input from the actuaries and
investment consultants, and long-term inflation assumptions. The expected allocation of pension plan assets is based on a
diversified portfolio consisting of domestic and international equity securities and fixed income securities. This expected return
is then applied to the fair value of plan assets. The Company amortizes experienced gains and losses, including the effects of
changes in actuarial assumptions and plan provisions, over a period equal to the average future service of plan participants or
over the average remaining life expectancy of inactive participants. The Company updates the estimates used to measure the
defined benefit pension assets and obligations annually or upon a remeasurement event.
The fiduciaries of the pension plans set investment policies and strategies for the pension trusts. Objectives include
preserving the funded status of the plan and balancing risk against return.
The weighted average target asset allocation of our plans for 2025 and allocations at the end of 2024 and 2023, by asset
category, are presented in the table below:
Target
allocation
Allocation of plan assets
 
2025
2024
2023
Equity securities
17%
21%
24%
Debt securities
71%
62%
57%
Alternative investments(a)
12%
17%
19%
Total
100%
100%
100%
(a)Alternative investments include real estate, private equity and hedge funds.
Purchase of pension annuity contract
On August 31, 2022, Gannett Media Corp., a wholly-owned subsidiary of the Company, as sponsor of the GR Plan, entered
into an agreement pursuant to which the GR Plan used a portion of its assets to purchase annuities from two insurance
companies (the "Insurers") and transferred approximately $450 million of the GR Plan's pension liabilities and related pension
assets. As of August 31, 2022, this agreement irrevocably transferred to the Insurers future GR Plan benefit obligations for
certain U.S. retirees and beneficiaries ("Participants") beginning with payments due to the Participants on November 1, 2022
(the "Effective Date") and Gannett Media Corp. has no financial responsibility for the Participants' benefits on or after such
date. As of the Effective Date, the Insurers assumed responsibility for administrative and customer service support, including
distribution of payments to the Participants. Participants' benefits were not reduced as a result of this transaction. As a result of
this transaction, we were required to remeasure the related plan benefit obligations and assets as of August 31, 2022 reflecting
the use of an updated discount rate. The plan remeasurement resulted in a decrease of $99.9 million to our net funded pension
obligation, which included a decrease in benefit obligation of $281.8 million (primarily due to an increase in the discount rate
from 2.95% at January 1, 2022 to 5.05%) and an incremental decrease in plan assets of $381.7 million. In addition, we
recognized a noncash pension settlement gain of $0.7 million ($0.5 million after tax) for the GR Plan for the year ended
December 31, 2022, which represented the accelerated recognition of actuarial gains that were included in accumulated other
comprehensive income (loss) within stockholders' equity.
Contributions
We are contractually obligated to contribute to our pension and postretirement benefit plans. During the year ended
December 31, 2024, we contributed $7.9 million and $4.6 million to our pension and other postretirement plans, respectively.
Beginning with the quarter ended December 31, 2022, and ending with the quarter ending September 30, 2024, the GR Plan's
appointed actuary certified the GR Plan's funded status for each quarter (the "Quarterly Certification") in accordance with U.S.
GAAP. If the GR Plan was less than 100% funded, the Company would have been required to make a $1.0 million contribution
to the GR Plan no later than 60 days following the receipt of the Quarterly Certification. The Company's obligation to make
additional contractual contributions terminated the day following the date that a contractual contribution would have been due
for the quarter ending September 30, 2024. As of December 31, 2024, the GR Plan was more than 100% funded.
Future contributions to our pension and postretirement benefit plans, which we are contractually obligated to contribute, are
estimated to be $6.6 million in 2025. Contributions beyond 2025 are not estimated due to uncertainties regarding significant
assumptions involved in estimating these contributions, such as interest rate levels, as well as the amount and timing of invested
asset returns. These future contributions do not include additional contributions which may be required to meet Internal
Revenue Service ("IRS") minimum funding standards as these contributions are subject to uncertainties regarding significant
assumptions involved in their estimation such as interest rate levels as well as the amount and timing of invested asset returns.
Estimated future benefit payments
We estimate making the following benefit payments, which reflect expected future service:
In thousands
Pension
benefits
Postretirement
benefits
2025
$134,982
$4,815
2026
133,856
4,536
2027
133,474
4,269
2028
130,646
4,010
2029
128,982
3,764
Thereafter
554,288
15,549
The amounts above exclude the participants' share of the benefit cost. We expect no subsidy benefits for 2025 and beyond.
Multiemployer plans
The Company is a participant in six multiemployer pension plans covering certain employees with collective bargaining
agreements ("CBAs"). The risks of participating in these multiemployer plans are different from single-employer plans in the
following aspects:
•The Company plays no part in the management of plan investments or any other aspect of plan administration;
•Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other
participating employers;
•If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the
remaining participating employers; and
•If the Company chooses to stop participating in some of its multiemployer plans, the Company may be required to pay
those plans in an amount based on the unfunded status of the plan, referred to as withdrawal liability.
The Company's participation in these plans for the year ended December 31, 2024, is outlined in the table below. The
"EIN/Pension Plan Number" column provides the Employee Identification Number ("EIN") and the three-digit plan number.
Unless otherwise noted, the two most recent Pension Protection Act zone statuses available are for the plans for the years ended
December 31, 2024, and 2023, respectively. The zone status is based on information the Company received from the plan and is
certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded; plans in the
orange zone are both (i) less than 80% funded and (ii) have an accumulated/expected funding deficiency in any of the next six
plan years, net of any amortization extensions; plans in the yellow zone meet either one of the criteria mentioned in the orange
zone; and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates plans
for which a financial improvement plan ("FIP") or a rehabilitation plan ("RP") is either pending or has been implemented. The
last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject. The Company
makes all required contributions to these plans as determined under the respective CBAs. For each of the plans listed below, the
Company's contribution represented less than 5% of total contributions to the plan.
EIN/Plan
number
Zone status
Year Ended
FIP/RP status
pending/
implemented
Contributions
(In thousands)
Surcharge
imposed
Expiration
dates of CBAs
Pension Plan Name
December
31, 2024
December
31, 2023
2024
2023
2022
CWA/ITU Negotiated Pension Plan
13-6212879/001
Red
Red
Implemented
$160
$255
$276
No
December 31,
2025 and
March 30,
2026
GCIU—Employer Retirement Benefit
Plan(a)
91-6024903/001
Red
Red
Implemented
46
41
42
No
12/31/2025
The Newspaper Guild International
Pension Plan(a)
52-1082662/001
Red
Red
Implemented
9
14
15
Yes
10/6/2021
IAM National Pension Plan(a) (b)
51-6031295/002
Red
Red
Implemented
118
147
177
Yes
January 6,
2026 and
January 8,
2026
Teamsters Pension Trust Fund of
Philadelphia and Vicinity(a)
23-1511735/001
Green as
of Apr.
29, 2024
Green as
of Apr.
30, 2023
N/A
998
965
1,249
N/A
8/31/2025
Central Pension Fund of the International
Union of Operating Engineers and
Participating Employers(a)
36-6052390/001
Green
Green
N/A
53
58
56
N/A
1/9/2026
Total
$1,384
$1,480
$1,815
(a)This plan has elected to utilize special amortization provisions provided under the Preservation of Access to Care for Medicare Beneficiaries and Pension
Relief Act of 2010.
(b)The trustees of this plan have voluntarily elected to put the fund in critical status to strengthen its funding position.
As of December 31, 2024, the total unpaid balance for the Company's withdrawal liabilities was approximately $55.6
million, which are payable over 13.9 years. For the year ended December 31, 2024, we recorded $24.5 million related to
withdrawal liabilities which were expensed as a result of ceasing contributions to multiemployer pension plans in which we
formerly participated.
Defined contribution plans
Employees are immediately eligible to participate in the Gannett Media Corp. 401(k) Savings Plan (the "Gannett 401(k)
Plan") and can elect to save up to 75% of compensation on a pre-tax basis, subject to IRS limitations. Effective January 1, 2021,
employees covered under collective bargaining agreements are eligible to participate in the Gannett 401(k) Plan only if
participation has been bargained, unless previously eligible in the New Media Investment Group Inc. Retirement Savings Plan.
In October 2022, matching contributions to the Gannett 401(k) Plan, with the exception of certain employees covered under
collective bargaining agreements, were suspended. Prior to the suspension of matching contributions in October 2022, the
matching formula was 100% of the first 4% of employee contributions and 50% on the next 2% of employee contributions of
eligible pay. Beginning in July 2024, matching contributions to the Gannett 401(k) Plan were reinstated, and the current
matching formula is 25% of the first 4% of employee contributions of eligible pay. For the years ended December 31, 2024,
2023, and 2022, the Company's matching contributions were $3.3 million, $0.8 million and $13.5 million, respectively.
v3.25.0.1
Fair value measurement
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair value measurement NOTE 10 — Fair value measurement
In accordance with ASC 820, "Fair Value Measurement," fair value measurements are required to be disclosed using a
three-tiered fair value hierarchy which distinguishes between assumptions based on market data (observable inputs) and the
Company's own assumptions (unobservable inputs). Level 1 refers to fair values determined based on quoted prices in active
markets for identical assets or liabilities, Level 2 refers to fair values estimated using significant other observable inputs and
Level 3 includes fair values estimated using significant unobservable inputs.
As of December 31, 2024, and 2023, assets and liabilities recorded at fair value and measured on a recurring basis
primarily consist of pension plan assets. As permitted by U.S. GAAP, we use net asset values ("NAV") as a practical expedient
to determine the fair value of certain investments. These investments measured at NAV have not been classified in the fair
value hierarchy.
The Company's debt is recorded on the Consolidated balance sheets at carrying value. Refer to Note 8 — Debt for
additional discussion regarding fair value of the Company's debt instruments.
Certain assets are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on
an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of
impairment). Assets held for sale (Level 3), which are recorded in Other current assets on the Consolidated financial statements,
are measured on a nonrecurring basis and are evaluated using executed purchase agreements, letters of intent or third-party
valuation analyses when certain circumstances arise. As of December 31, 2024 and 2023, the Company had assets held for sale
of $1.5 million and $0.2 million, respectively.
The Company performs its annual goodwill and indefinite-lived intangible impairment assessment during the fourth quarter
of the year. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value
measurements of the assets are considered to be Level 3 measurements. Refer to Note 6 — Goodwill and intangible assets for
additional discussion regarding the annual impairment assessment.
The following table sets forth by level, within the fair value hierarchy, the fair values of assets related to the following
pension plans: the (i) GR Plan, (ii) Gannett CUE Plan, (iii) U.K. Pension Plan, (iv) Detroit Plan (v) GWP Plan, and (vi) TPC
Plan as of December 31, 2024:
Pension Plan Assets and Liabilities as of December 31, 2024
In thousands
Level 1
Level 2
Level 3
Total
Assets:
Cash and cash equivalents
$10,989
$1,695
$—
$12,684
Corporate common stock
66,725
—
—
66,725
Corporate and government bonds
—
231,518
—
231,518
Real estate
—
—
124,790
124,790
Mutual funds
20,430
—
—
20,430
Exchange traded funds
23,215
—
—
23,215
Interest in common/collective trusts:
Equities
—
255,382
—
255,382
Fixed income
—
721,506
—
721,506
Partnership/joint venture interests
—
—
171,476
171,476
Total plan assets at fair value excluding those measured at NAV
$121,359
$1,210,101
$296,266
$1,627,726
Instruments measured at NAV using the practical expedient:
Real estate funds
8,814
Interest in common/collective trusts - fixed income
23,163
Partnerships/joint ventures
1,675
Total plan assets at fair value
$1,661,378
Liabilities:
Other liabilities
$(1,676)
$—
$—
$(1,676)
Total plan liabilities at fair value
$(1,676)
$—
$—
$(1,676)
The following table sets forth a summary of changes in the fair value of the Level 3 pension plan assets for the year ended
December 31, 2024:
Actual return on plan 
assets
In thousands
Balance at
beginning
of year
Relating to
assets still
held at
report date
Relating to
assets sold/
redeemed
during the
period
Purchases
Sales
Settlements
Balance at
end of 
year
Assets:
Real estate
$133,503
$(2,039)
$—
$—
$(6,674)
$—
$124,790
Partnership/joint venture interests
169,932
(10,044)
—
39,243
(23,899)
(3,756)
171,476
Hedge funds
48,695
—
7
—
—
(48,702)
—
Total assets
$352,130
$(12,083)
$7
$39,243
$(30,573)
$(52,458)
$296,266
There were no transfers between Levels 1 and 2 for the year ended December 31, 2024.
The following table sets forth by level, within the fair value hierarchy, the fair values of assets and liabilities related to the
following pension plans: the (i) GR Plan, (ii) U.K. Pension Plan, (iii) Detroit Plan (iv) GWP Plan, and (v) TPC Plan as of
December 31, 2023:
Pension Plan Assets and Liabilities as of December 31, 2023
In thousands
Level 1
Level 2
Level 3
Total
Assets:
Cash and cash equivalents
$11,524
$1,899
$—
$13,423
Corporate common stock
98,309
—
—
98,309
Corporate and government bonds
—
253,403
—
253,403
Real estate
—
—
133,503
133,503
Mutual funds
22,764
—
—
22,764
Exchange traded funds
21,050
—
—
21,050
Interest in common/collective trusts:
Equities
—
296,624
—
296,624
Fixed income
—
691,479
—
691,479
Partnership/joint venture interests
—
—
169,932
169,932
Hedge funds
—
—
48,695
48,695
Total plan assets at fair value, excluding those measured at NAV
$153,647
$1,243,405
$352,130
$1,749,182
Assets measured at NAV using the practical expedient:
Real estate funds
9,576
Interest in common/collective trusts - fixed income
23,396
Partnership/joint venture interests
3,213
Total plan assets at fair value
$1,785,367
Liabilities:
Other liabilities
$(1,469)
$—
$—
$(1,469)
Total plan liabilities at fair value
$(1,469)
$—
$—
$(1,469)
The following table sets forth a summary of changes in the fair value of the Level 3 pension plan assets and liabilities for
the year ended December 31, 2023:
Actual return on plan 
assets
In thousands
Balance at
beginning
of year
Relating to
assets still
held at
report date
Relating to
assets sold
during the
period
Purchases
Sales
Settlements
Balance at
end of 
year
Assets:
Real estate
$132,593
$2,683
$—
$13
$(1,786)
$—
$133,503
Partnership/joint venture interests
166,184
4,164
—
30,714
(25,917)
(5,213)
169,932
Hedge funds
63,054
3,141
—
—
—
(17,500)
48,695
Other assets
2
—
—
—
—
(2)
—
Total assets
$361,833
$9,988
$—
$30,727
$(27,703)
$(22,715)
$352,130
Liabilities:
Other liabilities
$2,008
$—
$—
$—
$—
$(2,008)
$—
There were no transfers between Levels 1 and 2 for the year ended December 31, 2023.
Valuation methodologies used for pension plan assets and liabilities measured at fair value are as follows:
•Corporate common stock is valued primarily at the closing price reported on the active market on which the individual
securities are traded;
•Corporate bonds are a type of debt security issued by a corporation and are primarily valued using trades or quotes in
secondary markets for that specific issue or similar security;
•Investments in direct real estate in the U.K. have been valued by an independent qualified valuation professional in the
U.K. using a valuation approach that capitalizes any current or future income streams at an appropriate multiplier.
Investments in real estate funds are mainly valued utilizing the net asset valuations provided by the underlying private
investment companies or through proprietary models with varying degrees of complexity;
•Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held are open ended funds that
are registered with the SEC. These funds are required to publish their NAV and to transact at that price. The mutual
funds held are deemed to be actively traded;
•Exchange traded funds are valued at the closing price reported on the active market on which the individual securities
are traded;
•Interests in common/collective trusts are primarily equity and fixed income investments valued using the NAV
provided by the administrator of the underlying fund available daily to the administrator of the respective plan. Where
the daily NAV is not provided, interests in common/collective trusts are valued either through the use of a NAV as
provided monthly by the fund family or fund company or through proprietary models with varying degrees of
complexity. Shares in the common/collective trusts are generally redeemable upon request;
•Investments in partnerships and joint venture interests classified in Level 3 are valued considering items such as
expected cash flows, changes in market outlook and subsequent rounds of financing. These investments are included in
Level 3 of the fair value hierarchy because exit prices tend to be unobservable and reliance is placed on the above
methods. Most of the partnerships are general leveraged buyout funds, others include a venture capital fund, a fund
formed to invest in special credit opportunities, an infrastructure fund and a real estate fund. Interest in partnership
investments could be sold on the secondary market but cannot be redeemed. Instead, distributions are received as the
underlying assets of the funds are liquidated. As of both December 31, 2024 and 2023, there were $3.1 million and
$3.3 million, respectively, in unfunded commitments related to partnership/joint venture interests. One of the
investments in partnerships and joint venture interests represents a limited partnership commingled fund valued using
the NAV as reported by the fund manager; and
•Investments in hedge funds consist of hedge funds whose strategy is to produce a return uncorrelated with market
movements. This fund is classified as a Level 3 because its valuation is derived from unobservable inputs. Shares in
the hedge funds are generally redeemable twice a year or on the last business day of each quarter with at least 60 days
written notice subject to a potential 5% holdback.
We review appraised values, audited financial statements and additional information to evaluate fair value estimates from
our investment managers and/or fund administrator.
v3.25.0.1
Income taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income taxes NOTE 11 — Income taxes
The following table outlines the Company's Loss before income taxes:
Year ended December 31,
In thousands
2024
2023
2022
Domestic
$(128,806)
$(55,073)
$(121,840)
Foreign
51,133
48,908
44,934
Loss before income taxes
$(77,673)
$(6,165)
$(76,906)
The following table outlines the Company's (Benefit) provision for income taxes:
Year ended December 31,
In thousands
2024
2023
2022
Current:
Federal
$(15,979)
$(311)
$(3,579)
State and local
1,780
1,705
804
Foreign
7,671
8,821
1,575
Total current
(6,528)
10,215
(1,200)
Deferred:
Federal
(38,805)
6,436
(692)
State and local
(2,493)
399
(5,868)
Foreign
(3,460)
4,679
9,109
Total deferred
(44,758)
11,514
2,549
(Benefit) provision for income taxes
$(51,286)
$21,729
$1,349
The effective tax rate varies from the federal statutory tax rate as a result of the following differences:
Year ended December 31,
In percentage
2024
2023
2022
Federal statutory tax rate
21.0%
21.0%
21.0%
(Increase) decrease in taxes resulting from:
State and local income taxes, net of federal benefit
(0.5)
3.6
6.0
Debt refinancing
37.8
—
—
Change in valuation allowance
(0.2)
(130.0)
(30.9)
Foreign tax rates differences
(1.0)
(9.2)
0.4
Non-deductible parking
(0.1)
(2.5)
(0.2)
Non-deductible meals, entertainment
(1.0)
(12.8)
(0.9)
(Loss) gain on foreign exchange rate
(0.6)
2.4
0.4
Stock compensation shortfall
(1.2)
(24.2)
(0.2)
Partnership permanent differences
(0.1)
(2.0)
(0.1)
Tegna indemnification release
—
(2.8)
(0.7)
Foreign entities loss adjustments
(1.4)
(1.3)
(1.6)
Newsquest permanent differences
(0.7)
(7.6)
(0.1)
Nondeductible compensation
(1.0)
(13.4)
(2.3)
Provision to return and deferred tax adjustments
5.2
(45.1)
5.4
Global intangible low-taxed income
(10.0)
(112.7)
(4.6)
Branch income
1.2
5.4
1.2
Profit on non-qualifying land and buildings
0.2
0.2
0.1
Uncertain tax positions
19.0
(134.5)
(2.6)
Deduction for interest expense
—
102.7
8.5
Impact of non-deductible goodwill
(0.5)
—
—
Other expenses
(0.1)
10.3
(0.6)
Effective tax rate
66.0%
NM
(1.8)%
NM indicates not meaningful.
Our effective tax rate for the year ended December 31, 2024 was 66.0%. The tax benefit for 2024 was primarily impacted by
the release of uncertain tax position reserves related to an IRS audit, the release of foreign valuation allowances, debt
refinancing transactions and the pre-tax book loss, partially offset by the increase in valuation allowances on non-deductible
U.S. interest expense carryforwards and the global intangible low-taxed income inclusion.
Our effective tax rate for the year ended December 31, 2023 was not meaningful. The tax provision for 2023 was primarily
impacted by the valuation allowances on non-deductible U.S. interest expense carryforwards, the global intangible low-taxed
income inclusion, the release of uncertain tax positions in the U.S., and the reduction in the blended state tax rate, which were
offset by the tax benefit of the pre-tax book loss.
The tax effects of each type of temporary differences and carryforwards that give rise to significant portions of our deferred
tax assets and deferred tax liabilities are presented below:
December 31,
In thousands
2024
2023
Deferred tax assets:
Fixed assets
$4,474
$—
Accrued compensation costs
13,167
12,900
Accrued liabilities
17,787
14,676
Disallowed interest
121,110
115,030
Goodwill
162
3,200
Capitalized research and development costs
11,572
9,743
Partnership investments
4,961
4,231
Loss carryforwards
203,602
224,505
Lease liabilities
50,826
58,828
Other
15,130
17,257
Total deferred tax assets
$442,791
$460,370
Less: Valuation allowances
(304,673)
(312,038)
Total net deferred tax assets
$138,118
$148,332
Deferred tax liabilities:
Fixed assets
$—
$(5,565)
Right of use asset
(43,157)
(60,384)
Convertible debt
(22,472)
(18,441)
Pension and other postretirement benefit obligations
(9,380)
(8,388)
Definite and indefinite lived intangible assets
(7,054)
(20,457)
Total deferred tax liabilities
$(82,063)
$(113,235)
Net deferred tax assets
$56,055
$35,097
In assessing the realizability of deferred tax assets, management considered whether it is more likely than not that some
portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the
generation of future taxable income during the periods in which those temporary differences become deductible. During the
year ended December 31, 2024, the Company recorded a reduction of $7.4 million of valuation allowances against its deferred
tax assets. The decrease in the valuation allowance was primarily due to a decrease of $10.9 million related to foreign valuation
allowances and various other decreases in the valuation allowance of $3.2 million, partially offset by an increase in the U.S.
disallowed interest expense carryforward of $6.1 million and an increase related to currency translation adjustments of
$0.6 million. The Company considered the available evidence, both positive and negative, to determine whether, based on the
weight of that evidence, a valuation allowance for deferred tax assets was needed. The Company reached the conclusion it was
appropriate to record a valuation allowance against a portion of its federal deferred tax assets based on available evidence. We
relied on evidence shown by reversing taxable temporary differences, as well as expectations of future taxable income with the
appropriate tax character.
During the year ended December 31, 2023, the Company recorded an additional $12.0 million of valuation allowances
against its deferred tax assets. The increase in the valuation allowance is primarily due to increases in the U.S. disallowed
interest expense carryforward, decreases in foreign valuation allowances, and increases related to currency translation
adjustment. The Company continues to maintain its existing valuation allowance against net deferred tax assets in many of its
state and foreign jurisdictions as it is not believed to be more likely than not that its deferred tax assets will be realized in such
jurisdictions.
The following table summarizes the activity related to our valuation allowance for deferred tax assets for the year ended
December 31, 2024 (In thousands):
Balance at
beginning of period
Additions/
(reductions)
charged to expenses
Additions/
(reductions) for
acquisitions/
dispositions
Other additions to
(deductions from)
reserves
Foreign currency
translation
Balance at end of
period
$312,037
$(7,985)
$—
$—
$620
$304,672
The aforementioned valuation allowance relates to indefinite-lived intangible assets, nondeductible interest expense
carryforwards, capital losses, state and foreign net operating losses and other tax attributes.
As of December 31, 2024, the Company had $396.2 million of Federal net operating loss ("NOL") carryforwards, $500.9
million of Federal disallowed business interest expense carryforwards, $1.058 billion of apportioned state NOL carryforwards
and $184.7 million of foreign net NOL carryforwards. Additionally, as of December 31, 2024, the Company had $6.2 million of
other business tax credits, $0.2 million of foreign tax credits, $4.7 million of state credits and $43.2 million of foreign capital
loss carryforwards. The Federal NOL carryforwards begin to expire in 2033, and the state NOL carryforwards began to expire
in 2024. The foreign NOLs begin to expire in 2030. The tax credits began to expire in 2024. A portion of the NOLs are subject
to the limitations of the Internal Revenue Code Section 382. This section provides limitations on the availability of NOL
carryforwards to offset income if a corporation undergoes an "ownership change," generally defined as a greater than 50%
change in equity ownership over a three-year period. The most recent analysis of our historical ownership change was
completed through December 31, 2024. Based on the analysis, we do not anticipate a current limitation on tax attributes.
The following table summarizes the activity related to unrecognized tax benefits, excluding the federal tax benefit of state
tax deductions:
Year ended December 31,
In thousands
2024
2023
2022
Change in unrecognized tax benefits:
Balance at beginning of year
$52,821
$43,697
$46,082
Additions based on tax positions related to the current year
837
7,017
5,411
Additions for tax positions of prior years
8
1,327
—
Reductions for tax positions of prior years
(11,261)
(652)
(2,664)
Reductions due to lapsed statutes of limitations
(137)
(208)
(2,264)
Foreign currency translation
(541)
1,640
(2,868)
Balance at end of year
$41,727
$52,821
$43,697
At December 31, 2024, the Company's uncertain tax positions of $41.7 million, if recognized, would impact the effective
tax rate. During the year ended December 31, 2024, the Company released $11.3 million of the uncertain tax position reserves
and $4.8 million of interest and penalties related to an IRS audit in the second quarter of 2024. The Company recognizes
interest and penalties related to unrecognized tax benefits as a component of income tax expense. As of December 31, 2024 and
2023, the amount of accrued interest and penalties payable related to uncertain tax positions was $0.1 million and $4.6 million,
respectively.
The Company files a federal consolidated income tax return for which the statute of limitations remains open for any year
in which a net operating loss is utilized, which for the Company is the 2011 tax year and subsequent years. U.S. state
jurisdictions have statute of limitations generally ranging from 3 to 6 years. On November 19, 2019, New Media Investment
Group Inc. ("New Media") completed its acquisition of Gannett Co., Inc. (which was renamed Gannett Media Corp. and is
referred to as "Legacy Gannett"). During the second quarter of 2024, the Company closed the federal income tax return audit
for calendar years 2015-2017 for Legacy Gannett. The U.K. income tax returns for calendar years 2018-2021 for Newsquest
Capital Ltd. are under audit. The statute of limitations for the Company's U.K. income tax return remains open for tax years for
2023 and forward.
v3.25.0.1
Supplemental equity and other information
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Supplemental equity and other information NOTE 12 — Supplemental equity and other information
Loss per share
The following table sets forth the information to compute basic and diluted loss per share:
Year ended December 31,
In thousands, except per share data
2024
2023
2022
Net loss attributable to Gannett
$(26,354)
$(27,791)
$(78,002)
Basic weighted average shares outstanding
142,516
139,633
136,903
Diluted weighted average shares outstanding
142,516
139,633
136,903
Loss per share attributable to Gannett - basic
$(0.18)
$(0.20)
$(0.57)
Loss per share attributable to Gannett - diluted
$(0.18)
$(0.20)
$(0.57)
The Company excluded the following securities from the computation of diluted loss per share because their effect would
have been antidilutive:
Year ended December 31,
In thousands
2024
2023
2022
2027 Notes(a)
7,612
97,057
97,057
2031 Notes(b)
44,745
—
—
Restricted stock grants(c)
7,267
8,608
8,616
Stock options
5,416
6,068
6,068
Warrants(d)
—
—
845
(a)Represents the total number of shares that would have been convertible as of December 31, 2024 and 2023 as stipulated in the 2027 Notes Indenture.
(b)Represents the total number of shares that would have been convertible as of December 31, 2024 as stipulated in the 2031 Notes Indenture.
(c) Includes restricted stock awards ("RSA"), restricted stock units ("RSU") and performance stock units ("PSU").
(d)The warrants expired on November 26, 2023.
The 2027 Notes and 2031 Notes may be converted at any time by the Holders into cash, shares of the Company's Common
Stock or any combination of cash and Common Stock, at the Company's election. Conversion of all of the 2027 Notes and 2031
Notes into Common Stock (assuming the maximum increase in the conversion rate as a result of a Make-Whole Fundamental
Change but no other adjustments to the conversion rate), would result in the issuance of an aggregate of 22.5 million shares of
Common Stock and 143.9 million shares of Common Stock, respectively. The Company has excluded from the loss per share
calculation approximately 14.9 million shares related to the possible conversion of the 2027 Notes and 99.1 million shares
related to the possible conversion of the 2031 Notes, representing the difference between the total number of shares that would
be convertible at December 31, 2024 and the total number of shares issuable assuming the maximum increase in the conversion
rate.
Share-based compensation
Share-based compensation expense was $12.5 million, $16.6 million, and $16.8 million for the years ended December 31,
2024, 2023, and 2022, respectively, and is included in Selling, general and administrative expenses on the Consolidated
statements of operations and comprehensive income (loss). Total compensation cost not yet recognized related to non-vested
awards as of December 31, 2024 was $15.1 million, which is expected to be recognized over a weighted average period of
approximately 2.1 years through January 2027.
Equity awards
On June 5, 2023, the Company's 2023 Stock Incentive Plan (the "2023 Incentive Plan") was approved by the Company's
stockholders and became effective. The 2023 Incentive Plan replaced the Company's 2020 Omnibus Incentive Compensation
Plan (the "2020 Incentive Plan"), which had replaced the Company's 2015 Omnibus Incentive Compensation Plan (the "2015
Incentive Plan"), such that no further awards were or will be granted pursuant to the 2020 Incentive Plan and the 2015 Incentive
Plan.
With respect to restricted stock awards ("RSAs"), if service terminates for certain specified conditions, all unvested shares
of restricted stock may be forfeited. During the period prior to the lapse and removal of the vesting restrictions, a grantee of a
RSA will have all the rights of a stockholder, including without limitation, the right to vote and the right to receive dividends or
other distributions, if any. Any dividends or other distributions that are declared with respect to the shares of restricted stock
will be paid at the time such shares vest. The value of the RSAs on the date of issuance is recognized in Selling, general, and
administrative expenses over the vesting period with a corresponding increase to additional paid-in-capital. Beginning in 2023,
RSAs granted generally vest in equal annual installments over a three-year period subject to the participants' continued
employment with the Company and the terms of the applicable award agreements. RSAs granted prior to 2023 vest 33.3% on
the first and second anniversary of the date of grant, and 33.4% on the third anniversary of the date of grant, subject to the
participants' continued employment with the Company and the terms of the applicable award agreement.
The following table outlines RSA activity:
Year ended December 31,
 
2024
2023
2022
Number
of RSAs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSAs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSAs
(In thousands)
Weighted-
average
grant date
fair value
Unvested at beginning of year
8,456
$3.09
8,616
$4.40
6,949
$4.32
Granted
272
4.04
5,171
1.87
7,427
4.29
Vested
(4,024)
3.57
(3,910)
4.11
(2,633)
4.63
Forfeited
(543)
3.01
(1,421)
3.68
(3,127)
3.75
Unvested at end of year
4,161
$2.71
8,456
$3.09
8,616
$4.40
As of December 31, 2024, the aggregate intrinsic value of unvested RSAs was $21.1 million.
Restricted stock units ("RSUs") generally vest in equal annual installments over a three-year period subject to the
participants' continued employment with the Company and the terms of the applicable award agreement, and we recognize
compensation costs for these awards based on the fair market value of the award as of the grant date.
Performance stock units ("PSUs") are subject to the achievement of certain performance goals over the eligible period and
the terms of the applicable award agreement. Compensation cost ultimately recognized for these PSUs will equal the grant-date
fair market value of the unit that coincides with the actual outcome of the performance conditions. On an interim basis, we
record compensation cost based on the expected level of achievement of the performance conditions.
The following table outlines RSU and PSU activity:
Year ended December 31,
 
2024
2023
2022
Number
of RSUs &
PSUs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSUs &
PSUs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSUs &
PSUs
(In thousands)
Weighted-
average
grant date
fair value
Unvested at beginning of year
181
$1.83
1,000
$3.04
2,905
$4.05
Granted(a)
3,074
4.15
332
1.83
332
4.63
Vested
—
—
(152)
3.04
(1,905)
4.58
Forfeited and canceled(b)
(141)
2.44
(999)
2.85
(332)
4.63
Unvested at end of year
3,114
$4.10
181
$1.83
1,000
$3.04
(a) There were no RSUs granted during the years ended December 31, 2023 and 2022.
(b) For the years ended December 31, 2024, 2023, and 2022, the Company canceled 15 thousand, 900 thousand, and 332 thousand, respectively, of PSUs and
RSUs.
As of December 31, 2024, the aggregate intrinsic value of unvested RSUs and PSUs was $15.8 million.
Stock options
As of December 31, 2024, FIG LLC, the former manager of the Company, held stock options exercisable for 5,416
thousand shares of Common Stock, all of which are exercisable and had a weighted-average grant date fair value, weighted-
average exercise price and weighted-average remaining contractual term of $1.51, $14.45 and 3.6 years, respectively.
Cash awards
The Company grants certain employees either long-term cash awards ("LTCAs") or cash performance units ("CPUs").
CPUs generally vest and pay out in cash on the third anniversary of the grant date based upon the achievement of threshold
goals depending on actual performance against financial objectives over a three-year period. LTCAs generally vest and pay out
in cash on the first, second and third anniversaries of the date of grant. As of December 31, 2024, there was approximately
$14.3 million of unrecognized compensation expense related to cash awards.
Preferred stock
The Company has authorized 300,000 shares of preferred stock, par value $0.01 per share, issuable in one or more series
designated by the Company's Board of Directors, none of which have been issued. There were no issuances of preferred stock
during the year ended December 31, 2024.
Stock repurchase program
On February 1, 2022, the Company's Board of Directors authorized the repurchase of up to $100 million (the "Stock
Repurchase Program") of the Company's Common Stock. Repurchases may be made from time to time through open market
purchases or privately negotiated transactions, pursuant to one or more plans established pursuant to Rule 10b5-1 under the
Securities Exchange Act of 1934, as amended, or by means of one or more tender offers, in each case, as permitted by securities
laws and other legal requirements. The amount and timing of the purchases, if any, will depend on a number of factors,
including, but not limited to, the price and availability of the Company's shares, trading volume, capital availability, Company
performance and general economic and market conditions. The Stock Repurchase Program may be suspended or discontinued
at any time. Further, future repurchases under our Stock Repurchase Program may be subject to various conditions under the
terms of our various debt instruments and agreements, unless an exception is available or we obtain a waiver or similar relief.
During the year ended December 31, 2024, we did not repurchase any shares of Common Stock under the Stock
Repurchase Program. As of December 31, 2024, the remaining authorized amount under the Stock Repurchase Program was
approximately $96.9 million.
Accumulated other comprehensive income (loss), net of tax
The following tables summarize the components of, and the changes in, Accumulated other comprehensive income (loss),
net of tax:
In thousands
Pension and
postretirement
benefit plans
Foreign
currency
translation
Total
Balance at December 31, 2021
$50,870
$9,128
$59,998
Other comprehensive loss before reclassifications
(136,352)
(24,008)
(160,360)
Amounts reclassified from accumulated other comprehensive loss(a) (b) (c)
(869)
—
(869)
Current period other comprehensive loss
(137,221)
(24,008)
(161,229)
Balance at December 31, 2022
$(86,351)
$(14,880)
$(101,231)
Other comprehensive income before reclassifications
22,639
13,683
36,322
Amounts reclassified from accumulated other comprehensive income(a) (b)
(632)
—
(632)
Current period other comprehensive income
22,007
13,683
35,690
Balance at December 31, 2023
$(64,344)
$(1,197)
$(65,541)
Other comprehensive income (loss) before reclassifications
8,981
(14)
8,967
Amounts reclassified from accumulated other comprehensive income (loss)(a) (b)
410
—
410
Current period other comprehensive income (loss)
9,391
(14)
9,377
Balance at December 31, 2024
$(54,953)
$(1,211)
$(56,164)
(a)Accumulated other comprehensive income (loss) component represents amortization of actuarial loss and is included in the computation of net periodic
benefit cost. See Note 9 — Pensions and other postretirement benefit plans.
(b) Amounts reclassified from accumulated other comprehensive income (loss) are recorded net of income tax provision of $0.1 million for the year ended
December 31, 2024, and net of income tax benefits of $0.2 million, and $0.3 million for the years ended December 31, 2023 and 2022, respectively.
(c) Amounts reclassified from accumulated other comprehensive income (loss) include a net pension settlement gain of $0.7 million ($0.5 million, net of tax) for
the year ended December 31, 2022. See Note 9 — Pensions and other postretirement benefit plans.
v3.25.0.1
Commitments, contingencies and other matters
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments, contingencies and other matters NOTE 13 — Commitments, contingencies and other matters
Legal proceedings
The Company is and may become involved from time to time in legal proceedings in the ordinary course of its business,
including, but not limited to, matters such as libel, invasion of privacy, intellectual property infringement, wrongful termination
actions, complaints alleging employment discrimination, and regulatory investigations and inquiries. In addition, the Company
is involved from time to time in governmental and administrative proceedings concerning employment, labor, environmental,
and other claims. Insurance coverage mitigates potential loss for certain of these matters. Historically, such claims and
proceedings have not had a material adverse effect on the Company's consolidated results of operations or financial position.
We are also defendants in judicial and administrative proceedings involving matters incidental to our business. Although
the Company is unable to predict with certainty the eventual outcome of any litigation, regulatory investigation or inquiry, in
the opinion of management, the Company does not expect its current and any threatened legal proceedings to have a material
adverse effect on the Company's business, financial position or consolidated results of operations. Given the inherent
unpredictability of these types of proceedings, however, it is possible that future adverse outcomes could have a material effect
on the Company's financial results.
On June 20, 2023, the Company filed a civil action against Google LLC and Alphabet Inc. (together, "Google") in the U.S.
District Court in the Southern District of New York seeking injunctive relief and damages for the anticompetitive
monopolization of advertising technology markets and for deceptive commercial practices. The Company's complaint details
more than a dozen anticompetitive and deceptive acts that the Company believes demonstrate Google's unfair control and
manipulation of all sides of each online advertising transaction. The Company intends to vigorously pursue this action.
However, at this stage, the Company is unable to predict the outcome or impact on its business and financial results. The
Company is accounting for this matter as a gain contingency, and will record any such gain in future periods, if and when the
contingency is resolved, in accordance with ASC 450, "Contingencies." We do not expect pursuing this lawsuit to be a
significant cost to us; however, the Company has and plans to continue to engage certain experts to participate in this matter.
The cost of those experts will be expensed as incurred and is not expected to be material.
The Company was a defendant in a lawsuit titled Scott O. Sapulpa ("Plaintiff") v. Gannett Co., Inc. in the District Court in
the State of Oklahoma. In February 2024, a jury found for the Plaintiff and awarded compensatory damages of $5 million and
$20 million in punitive damages. While we cannot predict with certainty the ultimate outcome of this action, the Company filed
an appeal of the case in March 2024. We are currently unable to estimate a range of reasonably possible loss; however, we
believe that damages, if any, would be covered by the Company's insurance policies. As a result, we believe the outcome will
not have a material impact on the Company's Consolidated financial statements.
Other
Purchase obligations
We have future expected purchase obligations, in the normal course of operations, of $166.5 million related to digital
licenses and information technology services, professional services, interactive marketing agreements, and other legally binding
commitments. Amounts which we are liable for under purchase orders outstanding at December 31, 2024, are reflected in the
Consolidated balance sheets as Accounts payable and are excluded from the amounts referred to above.
Self-insurance
We are self-insured for most of our employee medical coverage and for our casualty, general liability, and libel coverage
(subject to a cap above which third-party insurance is in place). The liabilities, which are reflected in Accounts payable and
Other long-term liabilities in the Consolidated balance sheets, are established on an actuarial basis with the advice of consulting
actuaries and totaled $39.0 million and $43.1 million as of December 31, 2024 and 2023, respectively.
v3.25.0.1
Segment reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment reporting NOTE 14 — Segment reporting
We define our reportable segments based on the way the CODM, which is our Chief Executive Officer, manages the
operations for purposes of allocating resources and assessing segment performance. Our reportable segments include the
following:
•Domestic Gannett Media is comprised of our portfolio of domestic local, regional, and national newspaper publishers.
The results of this segment include Digital revenues mainly derived from digital advertising offerings such as digital
marketing services delivered by our DMS segment, digital distribution of our publications and digital content
syndication and affiliate and partnership revenues as well as classified advertisements and display advertisements run
on our platforms as well as third-party sites, and Print and commercial revenues mainly derived from the sale of local,
national, and classified print advertising products, the sale of both home delivery and single copies of our publications,
as well as commercial printing and distribution arrangements, and revenues from our events business.
•Newsquest is comprised of our portfolio of newspaper publishers in the U.K.. The results of this segment include
Digital revenues mainly derived from digital advertising offerings such as digital marketing services delivered by our
DMS segment, digital distribution of our publications and digital content syndication revenues as well as classified
advertisements and display advertisements run on our platforms and third-party sites, and Print and commercial
revenues mainly derived from the sale of local, classified, and national advertising as well as niche publications, the
sale of both home delivery and single copies of our publications, as well as commercial printing.
•Digital Marketing Solutions is comprised of our digital marketing services companies under the brand LocaliQ. The
results of this segment include Digital revenues derived from digital marketing services generated through multiple
services, including search advertising, display advertising, search optimization, social media, website development,
web presence products, customer relationship management, and software-as-a-service solutions.
In addition to the reportable segments above, we have a Corporate and other category that includes activities not directly
attributable to a specific reportable segment and includes broad corporate functions, including legal, human resources,
accounting, analytics, finance, marketing and technology, as well as other general business costs.
In the ordinary course of business, our reportable segments enter into transactions with one another. While intersegment
transactions are treated like third-party transactions to determine segment performance, the revenues and expenses recognized
by the segment that is the counterparty to the transaction are eliminated in consolidation and do not affect consolidated results.
We regularly provide management reports to the CODM that include segment revenue and Adjusted EBITDA. Significant
segment expenses regularly provided to the CODM, and included within Adjusted EBITDA include Payroll, Benefits,
Newsprint & ink, Distribution, Outside services and Digital cost of goods sold.
The CODM uses Adjusted EBITDA to evaluate the performance of the segments and allocate resources. Adjusted
EBITDA provides an assessment of controllable expenses and affords the CODM the ability to make decisions which are
expected to facilitate meeting current financial goals as well as achieve optimal financial performance. Adjusted EBITDA is a
non-GAAP financial performance measure we believe offers a useful view of the overall operation of our businesses and may
be different than similarly-titled measures used by other companies. We define Adjusted EBITDA as Net income (loss)
attributable to Gannett before (1) Income tax expense (benefit), (2) Interest expense, (3) Gains or losses on the early
extinguishment of debt, (4) Non-operating pension income, (5) Loss on convertible notes derivative, (6) Depreciation and
amortization, (7) Integration and reorganization costs, (8) Third-party debt expenses and acquisition costs, (9) Asset
impairments, (10) Goodwill and intangible impairments, (11) Gains or losses on the sale or disposal of assets, (12) Share-based
compensation, (13) Other non-operating (income) expense, net, and (14) Non-recurring items.
Management considers Adjusted EBITDA to be an important metric to evaluate and compare the ongoing operating
performance of our segments on a consistent basis across reporting periods as it eliminates the effect of items that we do not
believe are indicative of each segment's core operating performance.
Year ended December 31, 2024
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate and
other
Total
Revenue
$1,938,398
$239,273
$477,807
$5,656
$2,661,134
Elimination of intersegment revenues
—
—
—
—
(151,819)
Total revenues
1,938,398
239,273
477,807
5,656
2,509,315
Payroll
530,120
96,526
102,641
98,251
827,538
Benefits
96,329
4,075
12,752
12,831
125,987
Newsprint and ink
67,833
10,187
—
—
78,020
Distribution
276,069
12,755
—
—
288,824
Outside services
176,643
10,396
10,543
141,685
339,267
Digital cost of goods sold
176,959
9,175
295,548
2,052
483,734
Other(a)
412,024
42,750
12,645
(222,844)
244,575
Elimination of intersegment expenses
—
—
—
—
(151,819)
Adjusted EBITDA
202,421
53,409
43,678
(26,319)
273,189
Net loss attributable to noncontrolling interests
33
Interest expense
104,697
Gain on early extinguishment of debt
(55,559)
Non-operating pension income
(12,438)
Depreciation and amortization
156,287
Integration and reorganization costs(b)
66,155
Third-party debt expenses and acquisition costs(c)
10,932
Asset impairments
46,589
Loss on sale or disposal of assets, net
1,106
Share-based compensation expense
12,522
Other non-operating income, net
(1,317)
Non-recurring items
21,855
Loss before income taxes
(77,673)
Benefit for income taxes
(51,286)
Net loss
(26,387)
Net loss attributable to noncontrolling interests
(33)
Net loss attributable to Gannett
$(26,354)
(a)Other expenses include corporate allocations of shared costs and Equity loss (income) in unconsolidated investees, net, which are not separately provided to
the CODM. Corporate allocations include, but are not limited to legal, human resources, accounting, analytics, finance, marketing and technology, as well as
other general business costs.
(b)Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations.
(c)Third-party debt expenses and acquisition costs are included in Other operating expenses on the Consolidated statements of operations and comprehensive
income (loss).
Year ended December 31, 2023
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate and
other
Total
Revenue
$2,095,853
$233,980
$477,909
$6,268
$2,814,010
Elimination of intersegment revenues
—
—
—
—
(150,460)
Total revenues
2,095,853
233,980
477,909
6,268
2,663,550
Payroll
548,253
93,492
99,942
101,925
843,612
Benefits
100,434
4,002
11,852
15,296
131,584
Newsprint and ink
99,760
13,351
—
—
113,111
Distribution
323,749
13,325
2
2
337,078
Outside services
195,937
10,046
8,319
137,380
351,682
Digital cost of goods sold
180,876
9,876
289,878
1,950
482,580
Other(a)
452,203
39,760
14,693
(219,976)
286,680
Elimination of intersegment expenses
—
—
—
—
(150,460)
Adjusted EBITDA
194,641
50,128
53,223
(30,309)
267,683
Net loss attributable to noncontrolling interests
103
Interest expense
111,776
Gain on early extinguishment of debt
(4,529)
Non-operating pension income
(9,382)
Depreciation and amortization
162,622
Integration and reorganization costs(b)
24,468
Third-party debt expenses and acquisition costs(c)
1,550
Asset impairments
1,370
Gain on sale or disposal of assets, net
(40,101)
Share-based compensation expense
16,567
Other non-operating income, net
(3,050)
Non-recurring items
12,454
Loss before income taxes
(6,165)
Provision for income taxes
21,729
Net loss
(27,894)
Net loss attributable to noncontrolling interests
(103)
Net loss attributable to Gannett
$(27,791)
(a)Other expenses include corporate allocations of shared costs and Equity loss (income) in unconsolidated investees, net, which are not separately provided to
the CODM. Corporate allocations include, but are not limited to legal, human resources, accounting, analytics, finance, marketing and technology, as well as
other general business costs.
(b)Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations.
(c)Third-party debt expenses and acquisition costs are included in Other operating expenses on the Consolidated statements of operations and comprehensive
income (loss).
Year ended December 31, 2022
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate and
other
Total
Revenue
$2,379,806
$234,630
$468,883
$5,440
$3,088,759
Elimination of intersegment revenues
—
—
—
—
(143,456)
Total revenues
2,379,806
234,630
468,883
5,440
2,945,303
Payroll
641,747
96,853
93,802
125,478
957,880
Benefits
135,882
4,887
13,698
21,358
175,825
Newsprint and ink
129,077
15,039
—
—
144,116
Distribution
370,594
14,697
—
9
385,300
Outside services
223,365
11,061
10,016
134,271
378,713
Digital cost of goods sold
176,986
9,658
278,573
136
465,353
Other(a)
494,507
42,408
15,214
(227,840)
324,289
Elimination of intersegment expenses
—
—
—
—
(143,456)
Adjusted EBITDA
207,648
40,027
57,580
(47,972)
257,283
Net loss attributable to noncontrolling interests
253
Interest expense
108,366
Gain on early extinguishment of debt
(399)
Non-operating pension income
(58,953)
Depreciation and amortization
182,022
Integration and reorganization costs(b)
87,974
Third-party debt expenses and acquisition costs(c)
1,892
Asset impairments
1,056
Gain on sale or disposal of assets, net
(6,883)
Share-based compensation expense
16,751
Other non-operating income, net
(2,286)
Non-recurring items
4,396
Loss before income taxes
(76,906)
Provision for income taxes
1,349
Net loss
(78,255)
Net loss attributable to noncontrolling interests
(253)
Net loss attributable to Gannett
$(78,002)
(a)Other expenses include corporate allocations of shared costs and Equity loss (income) in unconsolidated investees, net, which are not separately provided to
the CODM. Corporate allocations include, but are not limited to legal, human resources, accounting, analytics, finance, marketing and technology, as well as
other general business costs.
(b)Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations.
(c)Third-party debt expenses and acquisition costs are included in Other operating expenses on the Consolidated statements of operations and comprehensive
income (loss).
Asset and asset related information by segment are not key measures of performance used by the CODM function.
Accordingly, we have not disclosed asset and asset related information by segment. Additionally, equity income in
unconsolidated investees, net, interest expense, other non-operating items, net, and provision for income taxes, as reported in
the Consolidated financial statements, are not part of operating income and are primarily recorded at the corporate level.
v3.25.0.1
Subsequent events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent events NOTE 15 — Subsequent events
On February 19, 2025, the Company announced an agreement to sell the Austin American-Statesman to Hearst
Corporation. The transaction is subject to customary closing adjustments and conditions, including regulatory approvals, and is
expected to close in the first quarter of 2025. The Company is in process of calculating the amount of gain on sale associated
with this future sale transaction.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net loss attributable to Gannett $ (26,354) $ (27,791) $ (78,002)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] We recognize the importance of assessing, identifying, and managing material risks associated with cybersecurity threats
(as such term is defined in Item 106(a) of Regulation S-K), including, among other things, operational risks, intellectual
property theft, fraud, extortion, harm to employees or customers, violation of privacy or security laws and other litigation and
legal risks, and reputational risks.
We employ various processes and controls to aid in our efforts to identify, assess, and manage our material risks from
cybersecurity threats and to protect against, detect, and respond to cybersecurity incidents (as such term is defined in Item
106(a) of Regulation S-K). To identify and assess material risks from cybersecurity threats, we consider and gather information
with respect to the confidentiality, integrity, and availability of our information systems (as defined in Item 106(a) of
Regulation S-K). We have adopted policies and procedures that are designed to assist us with managing identified risks at a
system and organizational level and with assessing the materiality of the risk, its severity, and potential mitigations or
remediations. Our enterprise risk management program considers cybersecurity threat risks alongside other company risks as
part of our overall risk assessment process.
The cybersecurity risk identification process includes: (i) identifying information systems and assets, including physical
and virtual devices, software, data, data transfers, external systems, and cloud resources; (ii) reviewing organizational business
processes, identities, access, and roles (including privileged access), asset configurations, technology policies, standards,
controls, and processes; (iii) determining if those systems or assets process or store customer and/or employee personal data,
(iv) analyzing the criticality of systems, assets and business processes and sensitivity of data; and (v) identifying vulnerabilities
and threats to the identified systems, assets, data, and processes, from both internal and external sources, including through
threat intelligence, previous cybersecurity incidents, and third-party assessments.
Our processes also consider cybersecurity risks associated with our use of third-party service providers and business
partners, including those in our supply chain and those who have access to our customer and employee data or our information
systems. Identified third-party service provider and business partner risks are managed by our cybersecurity risk management
program. In addition, cybersecurity and privacy considerations affect the selection and oversight of our third-party service
providers and business partners, as well as third-party specific integration plans. Additionally, we generally require those third
parties that could introduce significant cybersecurity or data privacy risk to us to agree by contract to comply with applicable
data protection laws, and to manage their cybersecurity risks by implementing appropriate technical and organizational
measures, and to agree to be subject to cybersecurity audits, which we conduct as appropriate.
We employ a range of tools and services to inform our risk preparedness, identification, assessment and remediation
processes, including, among others, continuous monitoring, regular reoccurring security and compliance activities, training,
threat intelligence, business processes, change management, strategic planning, annual assessments, and periodic testing and
assessments performed by qualified security personnel and by third-party firms. As part of the above-described processes, we
engage with third-party firms to perform independent assessments, including internal and external penetration tests,
configuration assessments, security plan and program assessments, compliance assessments, and incident response readiness
exercises to help identify areas for continued focus, improvement and/or compliance.
Identified risks are evaluated and assessed by the Company's security review council, comprised of various security,
technology, legal and privacy staff members and management. A member of management is assigned as the risk owner and
takes an active role in managing the risk, including approving the risk response and risk treatment plan, as well as participating
in assessing any residual risk after implementation of the treatment plan. Our Chief Information Security Officer oversees our
cybersecurity risk management program.
In the event of a potential material risk, the risk is reported to the Chief Information Security Officer, the Chief Technology
Officer, the Chief Privacy Officer and to the legal department and the appropriate member of senior management responsible
for the function where the risk has been identified. The risk is then reviewed by the Disclosure Committee, which includes
among others, the Company's Chief Executive Officer, Chief Financial Officer, Chief Legal Officer, and Chief Accounting
Officer to determine whether the risk is material for disclosure purposes in accordance with applicable rules and regulations.
In 2024, our business strategy, results of operations, and financial condition were not materially affected by risks from
cybersecurity threats but we cannot provide assurance that they will not be materially affected in the future by such risks or any
future material incidents. We describe whether and how risks from identified cybersecurity threats, including as a result of any
previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect us, including our business
strategy, results of operations, or financial condition, under the heading "Risks Related to Cybersecurity and Artificial
Intelligence" under Risk Factors in this Annual Report on Form 10-K, which disclosures are incorporated by reference herein.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We employ various processes and controls to aid in our efforts to identify, assess, and manage our material risks from
cybersecurity threats and to protect against, detect, and respond to cybersecurity incidents (as such term is defined in Item
106(a) of Regulation S-K). To identify and assess material risks from cybersecurity threats, we consider and gather information
with respect to the confidentiality, integrity, and availability of our information systems (as defined in Item 106(a) of
Regulation S-K). We have adopted policies and procedures that are designed to assist us with managing identified risks at a
system and organizational level and with assessing the materiality of the risk, its severity, and potential mitigations or
remediations. Our enterprise risk management program considers cybersecurity threat risks alongside other company risks as
part of our overall risk assessment process.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Cybersecurity is an important part of our risk management processes and an area of increasing focus for our Board of
Directors and management. Our Board of Directors is responsible for the oversight of risks from cybersecurity threats. Each
quarter or as needed, the Board of Directors receives an overview from management of our cybersecurity program and strategy
covering topics such as cybersecurity incidents and response, progress towards pre-determined risk-mitigation-related goals,
results from third-party assessments, cybersecurity staffing, compliance status, and material cybersecurity threat risks or
incidents and developments, as well as the steps management has taken to respond to any such risks. In such sessions, our Chief
Information Security Officer is available to the Board of Directors to discuss any relevant cybersecurity matters. In addition, at
least bi-annually, the Chief Information Security Officer and Chief Technology Officer report to the Board of Directors about
cybersecurity threat risks, among other cybersecurity related matters.
Our cybersecurity risk management and strategy processes discussed above, are led by our Chief Information Security
Officer and Chief Technology Officer, both of whom are Certified Information Systems Security Professionals. Specifically,
our Chief Information Security Officer has approximately 10 years of experience developing cybersecurity strategy, incident
response, and implementing cybersecurity programs for public media companies and is a certified boardroom Qualified
Technology Expert and our Chief Technology Officer has approximately 16 years of experience developing cybersecurity
strategy, incident response, and implementing cybersecurity programs.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Cybersecurity is an important part of our risk management processes and an area of increasing focus for our Board of Directors and management. Our Board of Directors is responsible for the oversight of risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Each
quarter or as needed, the Board of Directors receives an overview from management of our cybersecurity program and strategy
covering topics such as cybersecurity incidents and response, progress towards pre-determined risk-mitigation-related goals,
results from third-party assessments, cybersecurity staffing, compliance status, and material cybersecurity threat risks or
incidents and developments, as well as the steps management has taken to respond to any such risks. In such sessions, our Chief
Information Security Officer is available to the Board of Directors to discuss any relevant cybersecurity matters. In addition, at
least bi-annually, the Chief Information Security Officer and Chief Technology Officer report to the Board of Directors about
cybersecurity threat risks, among other cybersecurity related matters.
Cybersecurity Risk Role of Management [Text Block] Cybersecurity is an important part of our risk management processes and an area of increasing focus for our Board of
Directors and management. Our Board of Directors is responsible for the oversight of risks from cybersecurity threats. Each
quarter or as needed, the Board of Directors receives an overview from management of our cybersecurity program and strategy
covering topics such as cybersecurity incidents and response, progress towards pre-determined risk-mitigation-related goals,
results from third-party assessments, cybersecurity staffing, compliance status, and material cybersecurity threat risks or
incidents and developments, as well as the steps management has taken to respond to any such risks. In such sessions, our Chief
Information Security Officer is available to the Board of Directors to discuss any relevant cybersecurity matters. In addition, at
least bi-annually, the Chief Information Security Officer and Chief Technology Officer report to the Board of Directors about
cybersecurity threat risks, among other cybersecurity related matters.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our cybersecurity risk management and strategy processes discussed above, are led by our Chief Information Security Officer and Chief Technology Officer, both of whom are Certified Information Systems Security Professionals.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Specifically,
our Chief Information Security Officer has approximately 10 years of experience developing cybersecurity strategy, incident
response, and implementing cybersecurity programs for public media companies and is a certified boardroom Qualified
Technology Expert and our Chief Technology Officer has approximately 16 years of experience developing cybersecurity
strategy, incident response, and implementing cybersecurity programs
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] In such sessions, our Chief
Information Security Officer is available to the Board of Directors to discuss any relevant cybersecurity matters. In addition, at
least bi-annually, the Chief Information Security Officer and Chief Technology Officer report to the Board of Directors about
cybersecurity threat risks, among other cybersecurity related matters.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of significant accounting policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Basis of presentation Basis of presentation
The Consolidated financial statements include all the assets, liabilities, revenues, expenses, and cash flows of entities which
Gannett controls due to ownership of a majority voting interest ("subsidiaries"). All significant intercompany accounts and
transactions have been eliminated in consolidation, and the Company consolidates entities that it controls due to ownership of a
majority voting interest.
Use of estimates Use of estimates
The preparation of the financial statements in conformity with U.S. generally accepted accounting principles ("U.S.
GAAP") requires management to make estimates and assumptions that affect the amounts reported in the Consolidated financial
statements and footnotes thereto. Actual results could differ materially from those estimates.
Significant estimates inherent in the preparation of the Consolidated financial statements include pension and
postretirement benefit obligation assumptions, income taxes, goodwill and intangible asset impairment analysis, valuation of
property, plant, and equipment and the mark to market of the conversion feature associated with the convertible debt.
Reclassifications Reclassifications
Certain reclassifications have been made to the prior year Consolidated financial statements to conform to classifications
used in the current year. Beginning in the first quarter of 2024, the Company updated the presentation of its revenues to reflect
the disaggregation between Digital revenues and Print and commercial revenues. These reclassifications had no impact on net
income (loss), stockholders' equity or cash flows as previously reported.
Cash, cash equivalents, and restricted cash and supplementary cash flow information Cash, cash equivalents and restricted cash and supplementary cash flow information
Cash equivalents represent highly liquid certificates of deposit which have original maturities of three months or less.
Restricted cash is held as cash collateral for certain business operations. Restricted cash primarily consists of funding for letters
of credit, cash held in an irrevocable grantor trust for our deferred compensation plans and cash held with banking institutions
for insurance plans.
Accounts receivable Accounts receivable
Accounts receivable are stated at amounts due from customers, net of allowances, which reflect the Company's expected
credit losses based on historical experience as well as current and expected economic conditions.
Inventory Inventory
Inventory consists principally of newsprint, which is valued at the lower of cost or net realizable value. Cost is determined
using the first-in, first-out ("FIFO") method.
Property, plant, and equipment, software development costs, and depreciation Property, plant, and equipment, software development costs and depreciation
Property, plant, and equipment are recorded at cost or at fair value for property, plant, and equipment related to acquired
businesses. Routine maintenance and repairs are expensed as incurred. Depreciation is calculated under the straight-line method
over the estimated useful lives. Leasehold improvements are amortized under the straight-line method over the shorter of the
lease term or estimated useful life of the asset.
We capitalize costs to develop software for internal use when it is determined the development efforts will result in new or
additional functionality or new products. Costs incurred prior to meeting these criteria and costs associated with ongoing
maintenance are expensed as incurred and included in Operating costs in the accompanying Consolidated statements of
operations and comprehensive income (loss).
Property, plant, and equipment and software development costs are evaluated for impairment in accordance with our policy
for amortizable intangible assets and other long-lived assets.
Goodwill, intangible and long-lived assets Goodwill, intangible and long-lived assets
Goodwill represents the excess of acquisition cost over the fair value of assets acquired, including identifiable intangible
assets, net of liabilities assumed. Indefinite-lived intangible assets consist of newspaper mastheads and finite-lived intangible
assets consist of advertiser, subscriber and other customer relationships, as well as trade names, and developed technology.
Newspaper mastheads are not amortized because it has been determined that the useful lives of such mastheads are indefinite.
Intangible assets that have finite useful lives are amortized over those useful lives.
Goodwill is tested for impairment annually as of November 30 each year and between annual tests if events occur or
circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. We
perform our impairment analysis on each of our reporting units. We evaluate our reporting units annually, as well as when
changes in our operating structure occur. The Company has the option to qualitatively assess whether it is more likely than not
that the fair value of a reporting unit is less than its carrying value. If the Company elects to perform a qualitative assessment
and concludes it is more likely than not that the fair value of the reporting unit is equal to or greater than its carrying value, no
further assessment of that reporting unit's goodwill is necessary; otherwise goodwill must be tested for impairment. In the
quantitative test, we are required to determine the fair value of each reporting unit and compare it to the carrying amount of the
reporting unit. Fair value of the reporting unit is defined as the price that would be received to sell the unit as a whole in an
orderly transaction between market participants at the measurement date. The Company generally determines the fair value of a
reporting unit using a combination of a discounted cash flow analysis and a market-based approach. Estimates of fair value
include inputs that are subjective in nature, involve uncertainties, and involve matters of significant judgment that are made at a
specific point in time. Changes in key assumptions from period to period could significantly affect the estimates of fair value.
Significant assumptions used in the fair value estimates include projected revenues and related growth rates over time, projected
operating cash flow margins, discount rates, and future economic and market conditions. If the carrying value of the reporting
unit exceeds the estimate of fair value, we calculate the impairment as the excess of the carrying value of goodwill over its
implied fair value.
Indefinite-lived intangible assets, which are newspaper mastheads, are tested for impairment annually or more frequently if
events or changes in circumstances indicate the asset might be impaired. The impairment test consists of a comparison of the
fair value of each group of mastheads with their carrying amount. We use a relief from royalty approach which utilizes a
discounted cash flow model to determine the fair value of newspaper mastheads. Our judgments and estimates of future
operating results in determining the reporting unit fair values are consistently applied in determining the fair value of
mastheads.
The Company assesses the recoverability of its long-lived assets, including property, plant, and equipment and finite-lived
intangible assets, whenever events or changes in circumstances indicate their carrying amounts may not be recoverable. The
evaluation is performed by asset group, which is the lowest level of identifiable cash flows independent of other assets. The
assessment of recoverability is based on management's estimates by comparing the sum of the estimated undiscounted cash
flows generated by the underlying asset groups to its carrying value of the asset groups to determine whether an impairment
existed at its lowest level of identifiable cash flows. If the carrying amount of the asset group is greater than the expected
undiscounted cash flows to be generated by the asset group, an impairment is recognized to the extent the carrying value of
such asset group exceeds its fair value.
All three of our reporting units have goodwill balances. We conducted our goodwill and indefinite-lived intangible asset
impairment testing in the fourth quarter of 2024 and did not identify any impairment. In addition, we had no impairments of
goodwill and indefinite-lived intangible assets in 2023 and 2022.
Income taxes Income taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for
the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and
liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are
measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are
expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in
income in the period that includes the enactment date. The Company establishes a valuation allowance if it is more likely than
not that all or a portion of a deferred tax asset will not be realized. See Note 11 — Income taxes for further discussion.
We also evaluate any uncertain tax positions and recognize a liability for the tax benefit associated with an uncertain tax
position if it is more likely than not that the tax position will not be sustained on examination by the taxing authorities upon
consideration of the technical merits of the position. The tax benefits recognized in the financial statements from such positions
are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. We
record a liability for uncertain tax positions taken or expected to be taken in a tax return. Any change in judgment related to the
expected ultimate resolution of uncertain tax positions is recognized in earnings in the period in which such change occurs.
Fair value of financial instruments Fair value of financial instruments
The carrying value of the Company's cash equivalents, accounts receivable, accounts payable, and accrued liabilities
approximate fair value due to the short maturity of these instruments. A discussion of the fair value level of the Company's debt
and embedded conversion option is disclosed in Note 8 — Debt. For further details surrounding our policies on fair value
measurement, including the fair values of our pension plan assets, refer to Note 10 — Fair value measurement.
Deferred financing costs Deferred financing costs
Deferred financing costs consist of costs incurred in connection with debt financings and are recorded as a contra-liability
in Long-term debt on the Consolidated balance sheets. Such costs are amortized using the effective interest method over the
estimated remaining term of the debt. This amortization represents a component of Interest expense. A proportionate amount of
deferred financing costs is written-off upon early prepayment of debt as a component of Loss (gain) on early extinguishment of
debt on the Consolidated statements of operations and comprehensive income (loss).
Revenue recognition Revenue recognition
Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that
reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Our contracts with
customers sometimes include promises to transfer multiple products and services to a customer. Revenue from sales agreements
that contain multiple performance obligations are allocated to each obligation based on the relative standalone selling price. We
determine standalone selling prices based on observable prices charged to customers.
Digital
Digital revenues are primarily derived from digital advertising offerings such as digital marketing services generated
through multiple services, including search advertising, display advertising, search optimization, social media, website
development, web presence products, customer relationship management, and software-as-a-service solutions, classified
advertisements and display advertisements, which may leverage third-party providers, and digital distribution of our
publications, as well as digital content syndication, affiliate and content partnerships, and licensing revenues.
Digital advertising and marketing revenues are generated primarily by online marketing products provided by our DMS
segment. The Company enters into agreements for products in which our clients typically pay in advance and on a monthly
basis. These prepayments include all charges for the included technology and any media services, management, third-party
content, and other costs and fees, all of which are accounted for as a single performance obligation. Revenue is then recognized
as we purchase and deliver media on behalf of the customer and perform other marketing-related services.
Digital subscription revenues are derived from digital subscriptions. Digital subscription revenues are generally billed to
customers at the beginning of the subscription period and are typically recognized over the subscription period as the
performance obligations are delivered. The term of customer subscriptions normally ranges from one to twelve months.
Digital other revenues are derived mainly from digital syndication, affiliate, production and licensing revenues and are
recognized when the related services are performed.
Print and commercial
Print and commercial revenues are generated from the sale of local, national, and classified print advertising products, the
sale of both home delivery and single copies of our publications, as well as commercial printing and distribution arrangements,
and revenues from our events business.
The Company generates Print advertising revenues primarily by delivering advertising in its national publication, USA
TODAY, and in its local publications including newspapers. Advertising revenues are categorized as local retail, local
classified, online, and national. Print advertising revenue is recognized upon publication of the advertisement.
Print circulation revenues are derived from print subscriptions as well as single copy sales at retail stores, vending racks
and boxes. Print circulation revenues from subscribers are generally billed to customers at the beginning of the subscription
period and are typically recognized over the subscription period as the performance obligations are delivered. The term of
customer subscriptions normally ranges from one to twelve months. Print circulation revenues from single-copy income are
recognized based on the date of publication.
The Company provides commercial printing services to third parties as a means to generate incremental revenue and utilize
excess printing capacity. Customers consist primarily of other publishers that do not have their own printing presses and do not
compete with other Gannett publications. The Company also prints other commercial materials, including flyers, business cards
and invitations. Revenue is generally recognized upon delivery. In addition, the Company generates revenues from its events
and promotions business. Revenues are generated primarily through ticket sales, endurance events and race management
services. Revenue is generally recognized when the event occurs.
Principal versus agent considerations
We evaluate whether we are the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net
basis) by performing analyses regarding whether we control the provision of specified goods or services before they are
transferred to our customers. We report revenues gross when we control advertising inventory before it is transferred to the
customer. Our control is evidenced by us being primarily responsible or sharing responsibility for the fulfillment of services and
maintaining control over transaction pricing.
Practical expedients and exemptions
The Company generally expenses sales commissions or other costs to obtain contracts when incurred because the
amortization period is generally one year or less. These costs are recorded within Selling, general and administrative expenses.
The Company does not disclose unsatisfied performance obligations for (i) contracts with an original expected length of
one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which the Company has the right
to invoice for services performed.
Deferred revenues
The Company records deferred revenues when cash payments are received in advance of the Company's performance
obligation. The Company's primary source of deferred revenues is from circulation subscriptions paid in advance of the service
provided, which represents future delivery of publications (the performance obligation) to subscription customers. The
Company expects to recognize the revenue related to unsatisfied performance obligations over the next one to twelve months in
accordance with the terms of the subscriptions.
The Company's payment terms vary by the type and location of the customer and the products or services offered. The
period between invoicing and when payment is due is not significant. For certain products or services and customer types, the
Company requires payment before the products or services are delivered to the customer. The majority of our subscription
customers are billed and pay on monthly terms.
Advertising costs Advertising costsAdvertising costs are expensed in the period incurred.
Pension and postretirement liabilities Pension and postretirement liabilities
Pension and other postretirement benefit costs under our defined benefit retirement plans are actuarially determined. For
plans with frozen benefits, we recognize the cost of postretirement benefits such as pension, medical, and life insurance benefits
on an accrual basis over the average life expectancy of employees expected to receive such benefits. For active plans, costs are
recognized over the estimated average future service period. We also recognize liabilities associated with the withdrawal from
multiemployer pension plans. See Note 9 — Pensions and other postretirement benefit plans for further details.
Share-based compensation Share-based compensation
Share-based payments to employees and members of the Board of Directors (i.e., grants of stock options and restricted
stock) are recognized in the Consolidated financial statements over the service period (generally the vesting period) based on
fair values measured on grant dates, less forfeitures. The Company accounts for forfeitures as they occur.
Self-insurance liability accruals Self-insurance liability accruals
The Company maintains self-insured medical and workers' compensation programs. The Company purchases stop loss
coverage from third parties, which limits our exposure to large claims. The Company records a liability for healthcare and
workers' compensation costs during the period in which they occur, including an estimate of incurred but not reported claims.
Concentration of risk Concentration of risk
Cash and cash equivalents are maintained with multiple financial institutions. The Company has deposits held with banks
that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and
are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk.
Due to the distributed nature of our operations, we are not subject to significant concentrations of risk relating to
customers, products, or geographic locations.
Leases Leases
We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease assets, Other
current liabilities, and Long-term operating lease liabilities on our Consolidated balance sheets. Operating lease right-of-use
("ROU") assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments
over the lease term at commencement date. The rates implicit within the Company's leases are generally not determinable;
therefore, the Company uses judgment to determine the incremental borrowing rate used to calculate the present value of lease
payments. The incremental borrowing rate is determined using our credit rating and information available related to similar
terms and payments as of the commencement date. ROU assets are assessed for impairment in accordance with the Company's
accounting policy for long-lived assets.
Our lease terms include options to extend or terminate. The period which is subject to an option to extend the lease is
included in the lease term if it is reasonably certain that the option will be exercised. The period which is subject to an option to
terminate the lease is included if it is reasonably certain that the option will not be exercised. Lease expense for minimum lease
payments is recognized on a straight-line basis over the lease term.
For all material classes of leased assets, we do not separate lease components from non-lease components, and account for
both components as a single lease component. For certain equipment leases, we apply a portfolio approach to account for the
operating lease ROU assets and liabilities.
Loss contingencies Loss contingencies
We are subject to various legal proceedings, claims, and regulatory matters, the outcomes of which are subject to
significant uncertainty. We determine whether to disclose or accrue for loss contingencies based on an assessment of whether
the risk of loss is remote, reasonably possible, or probable and whether it can be reasonably estimated. We accrue for loss
contingencies when such amounts are probable and reasonably estimable. If a contingent liability is only reasonably possible,
we will disclose the potential range of the loss if material and estimable. Legal costs expected to be incurred in connection with
loss contingencies are expensed as incurred.
Foreign currency translation Foreign currency translation
The statements of income of foreign operations have been translated to U.S. dollars using the average currency exchange
rates in effect during the relevant period. The balance sheets have been translated using the currency exchange rates as of the
end of the accounting period. The impact of currency exchange rate changes on the translation of the balance sheets are
included in Comprehensive income (loss) in the Consolidated statements of operations and comprehensive income (loss) and
are classified as Accumulated other comprehensive loss in the Consolidated balance sheets and Consolidated statements of
equity.
Recent accounting pronouncements adopted and not yet adopted Recent accounting pronouncements adopted
Reportable segment disclosures
In November 2023, the Financial Accounting Standards Board (the "FASB") issued guidance, Accounting Standards
Update ("ASU") 2023-07, which improves reportable segment disclosure requirements primarily through enhanced disclosures
about significant segment expenses. ASU 2023-07 requires the amendments to be applied retrospectively and is effective for
annual reporting periods beginning with the year ended December 31, 2024 and for interim periods beginning with the quarter
ending March 31, 2025. The Company's adoption of this guidance did not have an impact on the Consolidated financial
statements. Refer to "Note 14 – Segments", which reflects updated disclosures to include segment expenses regularly provided
to the Chief Operating Decision Maker ("CODM"), which is our Chief Executive Officer.
Recent accounting pronouncements not yet adopted
Induced conversions of convertible debt instruments
In November 2024, the FASB issued guidance, ASU 2024-04, which clarifies the assessment of whether certain
settlements of convertible debt instruments should be accounted for as an inducement conversion. The new guidance is
effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual periods. The
Company is currently evaluating the provisions of the updated guidance and assessing the impact on the Consolidated financial
statements.
Disaggregation of income statement expenses
In November 2024, the FASB issued guidance, ASU 2024-03, which requires disaggregated disclosures of certain
categories of expenses that are included in expense line items on the face of the income statement. The disclosures are required
on an annual and interim basis. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and
interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the provisions of the
updated guidance and assessing the impact on the Consolidated financial statements.
Income tax disclosures
In November 2023, the FASB issued guidance, ASU 2023-09, which enhances annual income tax disclosures. ASU
2023-09 requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as information on
income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2024. The Company is
currently evaluating the provisions of the updated guidance and assessing the impact on the Consolidated financial statements.
v3.25.0.1
Summary of significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents The following table presents a reconciliation of cash, cash equivalents and restricted cash:
December 31,
In thousands
2024
2023
2022
Cash and cash equivalents
$106,299
$100,180
$94,255
Restricted cash, included in prepaid expenses and other current assets
278
371
563
Restricted cash, included in other assets
9,604
10,061
9,986
Total cash, cash equivalents and restricted cash
$116,181
$110,612
$104,804
Schedule Restrictions on Cash and Cash Equivalents The following table presents a reconciliation of cash, cash equivalents and restricted cash:
December 31,
In thousands
2024
2023
2022
Cash and cash equivalents
$106,299
$100,180
$94,255
Restricted cash, included in prepaid expenses and other current assets
278
371
563
Restricted cash, included in other assets
9,604
10,061
9,986
Total cash, cash equivalents and restricted cash
$116,181
$110,612
$104,804
Schedule of Cash Flow, Supplemental Disclosures The following table presents supplementary cash flow information, including non-cash investing and financing activities:
Year ended December 31,
In thousands
2024
2023
2022
Cash paid for taxes, net
$10,115
$8,222
$3,409
Cash paid for interest
86,321
89,335
86,485
Non-cash investing and financing activities:
Convertible notes exchange
223,614
—
—
Accrued capital expenditures
39,634
2,390
699
Schedule Property, Plant and Equipment A breakout of property, plant, and equipment and software is presented below:
December 31,
In thousands
2024
2023
Useful Lives (range)
Land
$18,075
$21,990
Buildings and improvements
123,454
147,171
10 years
-
30 years
Machinery and equipment
224,138
258,432
3 years
-
20 years
Capitalized software
183,172
114,122
3 years
-
5 years
Furniture and fixtures
14,793
23,541
7 years
-
10 years
Construction in progress
14,361
10,239
Total
577,993
575,495
Less: accumulated depreciation(a)
(337,013)
(336,408)
Property, plant, and equipment, net
$240,980
$239,087
(a)Includes accumulated depreciation of capitalized software of approximately $105.5 million and $74.4 million for the years ended December 31, 2024 and
2023, respectively.
Schedule of Accounts Payable and Accrued Liabilities A breakout of Accounts payable and accrued liabilities is presented below:
December 31,
In thousands
2024
2023
Accounts payable
$154,162
$142,215
Compensation
81,738
82,160
Taxes (primarily property, sales, and payroll taxes)
9,135
9,990
Benefits
19,765
19,422
Interest
3,972
5,617
Other
49,612
34,040
Accounts payable and accrued liabilities
$318,384
$293,444
v3.25.0.1
Revenues (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The following tables present our revenues disaggregated by segment and revenue type:
Year ended December 31, 2024
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate
and other
Intersegment
eliminations
Consolidated
Digital advertising
$292,897
$53,481
$—
$—
$—
$346,378
Digital marketing services
142,120
7,941
477,807
—
(151,819)
476,049
Digital-only subscription
181,670
7,158
—
—
—
188,828
Digital other
76,027
10,713
—
5,656
—
92,396
Digital
692,714
79,293
477,807
5,656
(151,819)
1,103,651
Print advertising
451,589
74,211
—
—
—
525,800
Print circulation
582,965
67,082
—
—
—
650,047
Commercial and other(a)
211,130
18,687
—
—
—
229,817
Print and commercial
1,245,684
159,980
—
—
—
1,405,664
Total revenues
$1,938,398
$239,273
$477,807
$5,656
$(151,819)
$2,509,315
(a) For the year ended December 31, 2024, included $141.8 million of Commercial printing and delivery revenues at the Domestic Gannett Media segment and
$10.2 million of Commercial printing revenues at the Newsquest segment.
Year ended December 31, 2023
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate
and other
Intersegment
eliminations
Consolidated
Digital advertising
$283,249
$50,362
$—
$—
$—
$333,611
Digital marketing services
140,589
8,920
477,909
—
(150,460)
476,958
Digital-only subscription
150,384
5,237
—
—
—
155,621
Digital other
67,521
10,391
—
6,268
—
84,180
Digital
641,743
74,910
477,909
6,268
(150,460)
1,050,370
Print advertising
501,701
74,844
—
—
—
576,545
Print circulation
704,158
68,042
—
—
—
772,200
Commercial and other(a)
248,251
16,184
—
—
—
264,435
Print and commercial
1,454,110
159,070
—
—
—
1,613,180
Total revenues
$2,095,853
$233,980
$477,909
$6,268
$(150,460)
$2,663,550
(a) For the year ended December 31, 2023, included $178.1 million of Commercial printing and delivery revenues at the Domestic Gannett Media segment and
$8.0 million of Commercial printing revenues at the Newsquest segment.
Year ended December 31, 2022
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate
and other
Intersegment
eliminations
Consolidated
Digital advertising
$306,456
$50,890
$—
$—
$—
$357,346
Digital marketing services
133,219
9,263
468,883
—
(143,456)
467,909
Digital-only subscription
127,671
4,947
—
—
—
132,618
Digital other
65,757
9,510
—
5,440
—
80,707
Digital
633,103
74,610
468,883
5,440
(143,456)
1,038,580
Print advertising
594,741
76,141
—
—
—
670,882
Print circulation
884,854
67,165
—
—
—
952,019
Commercial and other(a)
267,108
16,714
—
—
—
283,822
Print and commercial
1,746,703
160,020
—
—
—
1,906,723
Total revenues
$2,379,806
$234,630
$468,883
$5,440
$(143,456)
$2,945,303
(a) For the year ended December 31, 2022, included $204.8 million of Commercial printing and delivery revenues at the Domestic Gannett Media segment and
$7.0 million of Commercial printing revenues at the Newsquest segment.
Schedule of Deferred Revenue The following table presents the change in the deferred revenues balances for the years ended December 31,:
In thousands
2024
2023
Beginning balance
$120,502
$153,648
Receipts, net of refunds
1,023,636
1,097,699
Revenue recognized
(1,036,138)
(1,130,845)
Ending balance
$108,000
$120,502
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components Of Leases Expenses The components of lease expense are as follows:
Year ended December 31,
In thousands
2024
2023
2022
Operating lease cost(a)
$52,417
$64,845
$73,103
Short-term lease cost(b)
938
900
929
Variable lease cost
12,390
13,200
13,002
Net lease cost
$65,745
$78,945
$87,034
(a) Includes sublease income of $8.3 million, $9.1 million, and $7.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.
(b) Excludes expenses relating to leases with a lease term of one month or less.
The leases are accounted
for as operating leases.
Supplemental information related to leases are as follows:
Year ended December 31,
In thousands, except lease term and discount rate
2024
2023
2022
Cash paid for amounts included in the measurement of operating lease liabilities
$71,985
$76,338
$79,659
Right-of-use assets obtained in exchange for operating lease obligations
6,071
31,501
15,272
Gain on sale and leaseback transactions, net
(105)
(40,221)
(12,249)
Weighted-average remaining lease term (in years)
6.0
6.4
6.8
Weighted-average discount rate
13.2%
13.0%
12.6%
Schedule of Future Minimum Lease Payments Future minimum lease payments under non-cancellable leases are as follows:
In thousands
Year ended
December 31,
2025
$61,987
2026
50,461
2027
42,486
2028
38,113
2029
37,293
Thereafter
74,223
Total future minimum lease payments
304,563
Less: Imputed interest
97,071
Total
$207,492
v3.25.0.1
Accounts receivable, net (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Allowance for Credit Losses The following table presents changes in the allowance for credit losses:
Year ended December 31,
In thousands
2024
2023
Beginning balance
$16,338
$16,697
Current period provision
5,155
12,316
Write-offs charged against the allowance
(10,564)
(17,143)
Recoveries of amounts previously written-off
2,676
4,325
Other
(9)
143
Ending balance
$13,596
$16,338
v3.25.0.1
Goodwill and intangible assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Intangible Assets Goodwill and intangible assets consisted of the following:
December 31, 2024
December 31, 2023
In thousands
Gross
carrying
amount
Accumulated
amortization
Net
carrying
amount
Gross
carrying
amount
Accumulated
amortization
Net
carrying
amount
Finite-lived intangible assets:
Advertiser relationships
$445,356
$279,176
$166,180
$446,609
$236,168
$210,441
Other customer relationships
89,106
59,198
29,908
101,819
56,601
45,218
Subscriber relationships
250,820
183,895
66,925
251,099
155,528
95,571
Other intangible assets
66,870
66,212
658
68,780
62,536
6,244
Sub-total
$852,152
$588,481
$263,671
$868,307
$510,833
$357,474
Indefinite-lived intangible assets:
Mastheads
166,703
166,876
Total intangible assets
$430,374
$524,350
Goodwill
$530,028
$533,876
Schedule of the Change in Net Goodwill Changes in the carrying amount of Goodwill by segment are as follows:
In thousands
Domestic Gannett
Media
Newsquest
Digital Marketing
Solutions
Total
Balance at December 31, 2022
$401,106
$14,589
$117,471
$533,166
Acquisitions
—
30
—
30
Divestitures
(46)
(82)
—
(128)
Foreign exchange
(3)
811
—
808
Balance at December 31, 2023
$401,057
$15,348
$117,471
$533,876
Divestitures
(3,662)
—
—
(3,662)
Foreign exchange
13
(199)
—
(186)
Balance at December 31, 2024
$397,408
$15,149
$117,471
$530,028
v3.25.0.1
Integration and reorganization costs and asset impairments (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs The Company recorded severance-related expenses by segment as follows:
Year ended December 31,
In thousands
2024
2023
2022
Domestic Gannett Media
$11,529
$9,935
$40,654
Newsquest
884
1,762
4,216
Digital Marketing Solutions
1,254
756
434
Corporate and other
1,481
6,064
12,310
Total
$15,148
$18,517
$57,614
A roll-forward of the accrued severance and related expenses included in Accounts payable and accrued liabilities on the
Consolidated balance sheets for the years ended December 31, 2024 and 2023 is as follows:
In thousands
Severance and
related expenses
Balance at December 31, 2022
$29,773
Restructuring provision included in integration and reorganization costs
18,517
Cash payments
(41,362)
Balance at December 31, 2023
6,928
Restructuring provision included in integration and reorganization costs
15,148
Cash payments
(16,585)
Balance at December 31, 2024
$5,491
Schedule of Facility Consolidation Charges The Company recorded Other reorganization-related
costs by segment as follows:
Year ended December 31,
In thousands
2024
2023
2022
Domestic Gannett Media(a)
$38,096
$(4,353)
$14,921
Newsquest(b)
(1,397)
1
209
Digital Marketing Solutions
807
28
674
Corporate and other
13,501
10,275
14,556
Total
$51,007
$5,951
$30,360
(a)For the year ended December 31, 2024, Other restructuring-related costs at the Domestic Gannett Media segment primarily reflected $25.9 million related to
withdrawal liabilities which were expensed as a result of ceasing contributions to multiemployer pension plans and $9.7 million expensed as of the cease-use
date related to certain licensed content. For the year ended December 31, 2023, Other restructuring-related costs at the Domestic Gannett Media segment
reflected the reversal of $6.4 million of withdrawal liabilities related to multiemployer pension plans based on settlement of the withdrawal liability. For the
year ended December 31, 2022, Other restructuring-related costs at the Domestic Gannett Media segment reflected a withdrawal liability of $8.6 million
which was expensed as a result of ceasing contributions to a multiemployer pension plan, as well as facilities consolidation expenses associated with exiting
a lease.
(b) For the year ended December 31, 2024, Other restructuring-related costs at the Newsquest segment primarily reflected the reversal of a withdrawal liability
of $1.4 million related to a pension plan based on settlement of the withdrawal liability.
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt The Company's debt as of December 31, 2024 and 2023 consisted of the financing arrangements described below.
December 31, 2024
December 31, 2023
In millions
Principal
balance
Unamortized
original issue
discount
Unamortized
deferred
financing
costs
Carrying
value
Principal
balance
Unamortized
original issue
discount
Unamortized
deferred
financing
costs
Carrying
value
2029 Term Loan Facility
$850.0
$(12.2)
$(7.7)
$830.1
$—
$—
$—
$—
Senior Secured Term Loan
—
—
—
—
350.4
(5.2)
(1.1)
344.1
2026 Senior Notes
—
—
—
—
291.6
(5.8)
(4.6)
281.2
2031 Notes
223.7
(5.0)
(2.8)
215.9
—
—
—
—
2027 Notes
38.1
(4.2)
(0.1)
33.8
485.3
(67.8)
(1.5)
416.0
2024 Notes
—
—
—
—
3.3
—
—
3.3
Total debt
$1,111.8
$(21.4)
$(10.6)
$1,079.8
$1,130.6
$(78.8)
$(7.2)
$1,044.6
Less: Current portion of
long-term debt
$(74.3)
$—
$—
$(74.3)
$(63.8)
$—
$—
$(63.8)
Non-current portion of
long-term debt
$1,037.5
$(21.4)
$(10.6)
$1,005.5
$1,066.8
$(78.8)
$(7.2)
$980.8
Schedule of Future Debt Obligation Payments Future debt obligation payments for the year ended December 31, are as follows:
In millions
Principal payments
2025
$68.0
2026
68.0
2027
106.1
2028
68.0
2029 and thereafter
801.7
Total debt obligations
$1,111.8
v3.25.0.1
Pensions and other postretirement benefit plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule Changes in Projected Benefit Obligations Amounts Recognized in Other Comprehensive Income Loss The following table presents the change in the projected benefit obligation for the years ended December 31:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2024
2023
Projected benefit obligation at beginning of period
$1,658,045
$1,642,180
$41,719
$47,043
Service cost
998
1,366
35
40
Interest cost
81,500
84,449
2,120
2,334
Change in prior service cost
—
—
—
(3,307)
Actuarial (gain) loss
(101,025)
21,769
(286)
109
Foreign currency translation
(8,174)
33,973
—
—
Benefits and expenses paid
(127,368)
(125,692)
(4,581)
(4,500)
Curtailment
119
—
—
—
Settlement
(964)
—
—
—
Projected benefit obligation at end of period
$1,503,131
$1,658,045
$39,007
$41,719
The following table presents the change in the fair value of plan assets for the years ended December 31, and the plans'
funded status at December 31:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2024
2023
Fair value of plan assets at beginning of period
$1,783,898
$1,720,810
$—
$—
Actual return on plan assets
5,620
150,371
—
—
Employer contributions
7,949
1,441
4,581
4,500
Settlement
(964)
—
—
—
Benefits paid
(127,368)
(125,692)
(4,581)
(4,500)
Foreign currency translation
(9,433)
36,968
—
—
Fair value of plan assets at end of period
$1,659,702
$1,783,898
$—
$—
Funded status at end of period
156,571
125,853
(39,007)
(41,719)
Unrecognized actuarial loss (gain)
76,547
90,813
(11,929)
(13,555)
Unrecognized prior service cost
1,491
1,581
(2,169)
(2,738)
Net prepaid (accrued) benefit cost
234,609
218,247
(53,105)
(58,012)
Amounts recognized in the Consolidated balance sheets at December 31, are listed below:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2024
2023
Other assets
$160,343
$131,881
$—
$—
Accounts payable and accrued liabilities
277
282
4,682
4,804
Pension and other postretirement benefit obligations
3,495
5,746
34,325
36,915
Accumulated other comprehensive (loss) income
(78,038)
(92,394)
14,098
16,293
Net prepaid (accrued) benefit cost
$234,609
$218,247
$(53,105)
$(58,012)
The following table presents information about funded and underfunded pension plans at December
31:
Funded plans
Underfunded plans
In thousands
2024
2023
2024
2023
Projected benefit obligation
$1,457,351
$1,602,112
$45,780
$55,933
Accumulated benefit obligation
1,456,629
1,601,306
45,780
55,933
Fair value of plan assets
1,617,694
1,733,993
42,008
49,905
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) The following table presents the components of net periodic benefit cost and amounts recognized in Other comprehensive
income (loss) at December 31, 2024, 2023, and 2022:
Pension benefits
Postretirement benefits
In thousands
2024
2023
2022
2024
2023
2022
Components of net periodic benefit cost:
Operating expenses:
Service cost - benefits earned during the
period
$998
$1,366
$1,754
$35
$40
$77
Non-operating expenses:
Interest cost on benefit obligations
81,500
84,449
71,733
2,120
2,334
1,770
Expected return on plan assets
(96,726)
(95,358)
(131,295)
—
—
—
Amortization of actuarial loss (gain)
2,926
2,185
89
(1,912)
(2,490)
(589)
Amortization of prior service costs
69
67
66
(569)
(569)
—
Settlement loss (gain)
35
—
(727)
—
—
—
Curtailment
119
—
—
—
—
—
Total non-operating (benefit) expense
(12,077)
(8,657)
(60,134)
(361)
(725)
1,181
Total (benefit) expense for retirement plans
$(11,079)
$(7,291)
$(58,380)
$(326)
$(685)
$1,258
Other changes in plan assets and benefit obligations recognized in Other
comprehensive income (loss):
Net actuarial (gain) loss
$(9,919)
$(33,244)
$199,374
$(286)
$109
$(14,092)
Amortization of net actuarial (loss) gain
(2,926)
(2,185)
(89)
1,912
2,490
589
Change in prior service cost
—
—
—
—
(3,307)
—
Amortization of prior service costs
(69)
(67)
(66)
569
569
—
Settlement (loss) gain
(35)
—
—
—
—
—
Equity method investments
(116)
(610)
—
—
—
—
Other
(1,405)
7,415
(5,283)
—
—
—
(Gain) loss recognized in Other comprehensive
income (loss)
$(14,470)
$(28,691)
$193,936
$2,195
$(139)
$(13,503)
Schedule of Assumptions Used The following assumptions were used in connection with the Company's actuarial valuation of its pension plans and
postretirement benefit obligations at December 31:
 
Pension benefits
Postretirement benefits
2024
2023
2024
2023
Weighted average discount rate
5.7%
5.1%
5.8%
5.4%
Rate of increase in future compensation levels(a)
2.0%
2.0%
N/A
N/A
Current year medical trend
N/A
N/A
7.5%
6.3%
Ultimate year medical trend
N/A
N/A
4.5%
4.5%
Year of ultimate trend
N/A
N/A
2037
2031
(a) Relates only to the Newspaper Guild of Detroit defined benefit pension plans.
The following assumptions were used to calculate the net periodic benefit cost for the Company's pension plans and
postretirement benefit obligations at December 31, 2024, 2023, and 2022:
 
Pension benefits
Postretirement benefits
2024
2023
2022
2024
2023
2022
Weighted average discount rate
5.1%
5.4%
3.8%
5.4%
5.7%
3.0%
Rate of increase in future compensation levels(a)
2.0%
2.0%
2.0%
N/A
N/A
N/A
Weighted average expected return on assets
5.6%
5.7%
4.8%
N/A
N/A
N/A
Current year medical trend
N/A
N/A
N/A
6.3%
6.5%
6.0%
Ultimate year medical trend
N/A
N/A
N/A
4.5%
4.5%
4.5%
Year of ultimate trend
N/A
N/A
N/A
2031
2031
2028
(a) Relates only to the Newspaper Guild of Detroit defined benefit pension plans.
Schedule of Allocation of Plan Assets The weighted average target asset allocation of our plans for 2025 and allocations at the end of 2024 and 2023, by asset
category, are presented in the table below:
Target
allocation
Allocation of plan assets
 
2025
2024
2023
Equity securities
17%
21%
24%
Debt securities
71%
62%
57%
Alternative investments(a)
12%
17%
19%
Total
100%
100%
100%
(a)Alternative investments include real estate, private equity and hedge funds.
Schedule of Estimated Benefit Payments We estimate making the following benefit payments, which reflect expected future service:
In thousands
Pension
benefits
Postretirement
benefits
2025
$134,982
$4,815
2026
133,856
4,536
2027
133,474
4,269
2028
130,646
4,010
2029
128,982
3,764
Thereafter
554,288
15,549
Schedule of Multiemployer Pension Plans For each of the plans listed below, the
Company's contribution represented less than 5% of total contributions to the plan.
EIN/Plan
number
Zone status
Year Ended
FIP/RP status
pending/
implemented
Contributions
(In thousands)
Surcharge
imposed
Expiration
dates of CBAs
Pension Plan Name
December
31, 2024
December
31, 2023
2024
2023
2022
CWA/ITU Negotiated Pension Plan
13-6212879/001
Red
Red
Implemented
$160
$255
$276
No
December 31,
2025 and
March 30,
2026
GCIU—Employer Retirement Benefit
Plan(a)
91-6024903/001
Red
Red
Implemented
46
41
42
No
12/31/2025
The Newspaper Guild International
Pension Plan(a)
52-1082662/001
Red
Red
Implemented
9
14
15
Yes
10/6/2021
IAM National Pension Plan(a) (b)
51-6031295/002
Red
Red
Implemented
118
147
177
Yes
January 6,
2026 and
January 8,
2026
Teamsters Pension Trust Fund of
Philadelphia and Vicinity(a)
23-1511735/001
Green as
of Apr.
29, 2024
Green as
of Apr.
30, 2023
N/A
998
965
1,249
N/A
8/31/2025
Central Pension Fund of the International
Union of Operating Engineers and
Participating Employers(a)
36-6052390/001
Green
Green
N/A
53
58
56
N/A
1/9/2026
Total
$1,384
$1,480
$1,815
(a)This plan has elected to utilize special amortization provisions provided under the Preservation of Access to Care for Medicare Beneficiaries and Pension
Relief Act of 2010.
(b)The trustees of this plan have voluntarily elected to put the fund in critical status to strengthen its funding position.
v3.25.0.1
Fair value measurement (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Pension Plan Assets by Level Within Fair Value Hierarchy The following table sets forth by level, within the fair value hierarchy, the fair values of assets related to the following
pension plans: the (i) GR Plan, (ii) Gannett CUE Plan, (iii) U.K. Pension Plan, (iv) Detroit Plan (v) GWP Plan, and (vi) TPC
Plan as of December 31, 2024:
Pension Plan Assets and Liabilities as of December 31, 2024
In thousands
Level 1
Level 2
Level 3
Total
Assets:
Cash and cash equivalents
$10,989
$1,695
$—
$12,684
Corporate common stock
66,725
—
—
66,725
Corporate and government bonds
—
231,518
—
231,518
Real estate
—
—
124,790
124,790
Mutual funds
20,430
—
—
20,430
Exchange traded funds
23,215
—
—
23,215
Interest in common/collective trusts:
Equities
—
255,382
—
255,382
Fixed income
—
721,506
—
721,506
Partnership/joint venture interests
—
—
171,476
171,476
Total plan assets at fair value excluding those measured at NAV
$121,359
$1,210,101
$296,266
$1,627,726
Instruments measured at NAV using the practical expedient:
Real estate funds
8,814
Interest in common/collective trusts - fixed income
23,163
Partnerships/joint ventures
1,675
Total plan assets at fair value
$1,661,378
Liabilities:
Other liabilities
$(1,676)
$—
$—
$(1,676)
Total plan liabilities at fair value
$(1,676)
$—
$—
$(1,676)
The following table sets forth by level, within the fair value hierarchy, the fair values of assets and liabilities related to the
following pension plans: the (i) GR Plan, (ii) U.K. Pension Plan, (iii) Detroit Plan (iv) GWP Plan, and (v) TPC Plan as of
December 31, 2023:
Pension Plan Assets and Liabilities as of December 31, 2023
In thousands
Level 1
Level 2
Level 3
Total
Assets:
Cash and cash equivalents
$11,524
$1,899
$—
$13,423
Corporate common stock
98,309
—
—
98,309
Corporate and government bonds
—
253,403
—
253,403
Real estate
—
—
133,503
133,503
Mutual funds
22,764
—
—
22,764
Exchange traded funds
21,050
—
—
21,050
Interest in common/collective trusts:
Equities
—
296,624
—
296,624
Fixed income
—
691,479
—
691,479
Partnership/joint venture interests
—
—
169,932
169,932
Hedge funds
—
—
48,695
48,695
Total plan assets at fair value, excluding those measured at NAV
$153,647
$1,243,405
$352,130
$1,749,182
Assets measured at NAV using the practical expedient:
Real estate funds
9,576
Interest in common/collective trusts - fixed income
23,396
Partnership/joint venture interests
3,213
Total plan assets at fair value
$1,785,367
Liabilities:
Other liabilities
$(1,469)
$—
$—
$(1,469)
Total plan liabilities at fair value
$(1,469)
$—
$—
$(1,469)
Schedule of Changes in Fair Value of Pension Plan Assets and Liabilities, Categorized as Level 3 The following table sets forth a summary of changes in the fair value of the Level 3 pension plan assets for the year ended
December 31, 2024:
Actual return on plan 
assets
In thousands
Balance at
beginning
of year
Relating to
assets still
held at
report date
Relating to
assets sold/
redeemed
during the
period
Purchases
Sales
Settlements
Balance at
end of 
year
Assets:
Real estate
$133,503
$(2,039)
$—
$—
$(6,674)
$—
$124,790
Partnership/joint venture interests
169,932
(10,044)
—
39,243
(23,899)
(3,756)
171,476
Hedge funds
48,695
—
7
—
—
(48,702)
—
Total assets
$352,130
$(12,083)
$7
$39,243
$(30,573)
$(52,458)
$296,266
The following table sets forth a summary of changes in the fair value of the Level 3 pension plan assets and liabilities for
the year ended December 31, 2023:
Actual return on plan 
assets
In thousands
Balance at
beginning
of year
Relating to
assets still
held at
report date
Relating to
assets sold
during the
period
Purchases
Sales
Settlements
Balance at
end of 
year
Assets:
Real estate
$132,593
$2,683
$—
$13
$(1,786)
$—
$133,503
Partnership/joint venture interests
166,184
4,164
—
30,714
(25,917)
(5,213)
169,932
Hedge funds
63,054
3,141
—
—
—
(17,500)
48,695
Other assets
2
—
—
—
—
(2)
—
Total assets
$361,833
$9,988
$—
$30,727
$(27,703)
$(22,715)
$352,130
Liabilities:
Other liabilities
$2,008
$—
$—
$—
$—
$(2,008)
$—
v3.25.0.1
Income taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Income Taxes and (Benefit) Provision for Income Taxes The following table outlines the Company's Loss before income taxes:
Year ended December 31,
In thousands
2024
2023
2022
Domestic
$(128,806)
$(55,073)
$(121,840)
Foreign
51,133
48,908
44,934
Loss before income taxes
$(77,673)
$(6,165)
$(76,906)
The following table outlines the Company's (Benefit) provision for income taxes:
Year ended December 31,
In thousands
2024
2023
2022
Current:
Federal
$(15,979)
$(311)
$(3,579)
State and local
1,780
1,705
804
Foreign
7,671
8,821
1,575
Total current
(6,528)
10,215
(1,200)
Deferred:
Federal
(38,805)
6,436
(692)
State and local
(2,493)
399
(5,868)
Foreign
(3,460)
4,679
9,109
Total deferred
(44,758)
11,514
2,549
(Benefit) provision for income taxes
$(51,286)
$21,729
$1,349
Schedule of Reconciliation of Effective Tax Rate The effective tax rate varies from the federal statutory tax rate as a result of the following differences:
Year ended December 31,
In percentage
2024
2023
2022
Federal statutory tax rate
21.0%
21.0%
21.0%
(Increase) decrease in taxes resulting from:
State and local income taxes, net of federal benefit
(0.5)
3.6
6.0
Debt refinancing
37.8
—
—
Change in valuation allowance
(0.2)
(130.0)
(30.9)
Foreign tax rates differences
(1.0)
(9.2)
0.4
Non-deductible parking
(0.1)
(2.5)
(0.2)
Non-deductible meals, entertainment
(1.0)
(12.8)
(0.9)
(Loss) gain on foreign exchange rate
(0.6)
2.4
0.4
Stock compensation shortfall
(1.2)
(24.2)
(0.2)
Partnership permanent differences
(0.1)
(2.0)
(0.1)
Tegna indemnification release
—
(2.8)
(0.7)
Foreign entities loss adjustments
(1.4)
(1.3)
(1.6)
Newsquest permanent differences
(0.7)
(7.6)
(0.1)
Nondeductible compensation
(1.0)
(13.4)
(2.3)
Provision to return and deferred tax adjustments
5.2
(45.1)
5.4
Global intangible low-taxed income
(10.0)
(112.7)
(4.6)
Branch income
1.2
5.4
1.2
Profit on non-qualifying land and buildings
0.2
0.2
0.1
Uncertain tax positions
19.0
(134.5)
(2.6)
Deduction for interest expense
—
102.7
8.5
Impact of non-deductible goodwill
(0.5)
—
—
Other expenses
(0.1)
10.3
(0.6)
Effective tax rate
66.0%
NM
(1.8)%
NM indicates not meaningful.
Schedule of Deferred Tax Liabilities and Assets The tax effects of each type of temporary differences and carryforwards that give rise to significant portions of our deferred
tax assets and deferred tax liabilities are presented below:
December 31,
In thousands
2024
2023
Deferred tax assets:
Fixed assets
$4,474
$—
Accrued compensation costs
13,167
12,900
Accrued liabilities
17,787
14,676
Disallowed interest
121,110
115,030
Goodwill
162
3,200
Capitalized research and development costs
11,572
9,743
Partnership investments
4,961
4,231
Loss carryforwards
203,602
224,505
Lease liabilities
50,826
58,828
Other
15,130
17,257
Total deferred tax assets
$442,791
$460,370
Less: Valuation allowances
(304,673)
(312,038)
Total net deferred tax assets
$138,118
$148,332
Deferred tax liabilities:
Fixed assets
$—
$(5,565)
Right of use asset
(43,157)
(60,384)
Convertible debt
(22,472)
(18,441)
Pension and other postretirement benefit obligations
(9,380)
(8,388)
Definite and indefinite lived intangible assets
(7,054)
(20,457)
Total deferred tax liabilities
$(82,063)
$(113,235)
Net deferred tax assets
$56,055
$35,097
Schedule of Valuation Allowance The following table summarizes the activity related to our valuation allowance for deferred tax assets for the year ended
December 31, 2024 (In thousands):
Balance at
beginning of period
Additions/
(reductions)
charged to expenses
Additions/
(reductions) for
acquisitions/
dispositions
Other additions to
(deductions from)
reserves
Foreign currency
translation
Balance at end of
period
$312,037
$(7,985)
$—
$—
$620
$304,672
Schedule of Unrecognized Tax Benefits Roll Forward The following table summarizes the activity related to unrecognized tax benefits, excluding the federal tax benefit of state
tax deductions:
Year ended December 31,
In thousands
2024
2023
2022
Change in unrecognized tax benefits:
Balance at beginning of year
$52,821
$43,697
$46,082
Additions based on tax positions related to the current year
837
7,017
5,411
Additions for tax positions of prior years
8
1,327
—
Reductions for tax positions of prior years
(11,261)
(652)
(2,664)
Reductions due to lapsed statutes of limitations
(137)
(208)
(2,264)
Foreign currency translation
(541)
1,640
(2,868)
Balance at end of year
$41,727
$52,821
$43,697
v3.25.0.1
Supplemental equity and other information (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Loss Per Share (Basic And Diluted) The following table sets forth the information to compute basic and diluted loss per share:
Year ended December 31,
In thousands, except per share data
2024
2023
2022
Net loss attributable to Gannett
$(26,354)
$(27,791)
$(78,002)
Basic weighted average shares outstanding
142,516
139,633
136,903
Diluted weighted average shares outstanding
142,516
139,633
136,903
Loss per share attributable to Gannett - basic
$(0.18)
$(0.20)
$(0.57)
Loss per share attributable to Gannett - diluted
$(0.18)
$(0.20)
$(0.57)
Schedule of Securities From Computation of Diluted Income Per Share The Company excluded the following securities from the computation of diluted loss per share because their effect would
have been antidilutive:
Year ended December 31,
In thousands
2024
2023
2022
2027 Notes(a)
7,612
97,057
97,057
2031 Notes(b)
44,745
—
—
Restricted stock grants(c)
7,267
8,608
8,616
Stock options
5,416
6,068
6,068
Warrants(d)
—
—
845
(a)Represents the total number of shares that would have been convertible as of December 31, 2024 and 2023 as stipulated in the 2027 Notes Indenture.
(b)Represents the total number of shares that would have been convertible as of December 31, 2024 as stipulated in the 2031 Notes Indenture.
(c) Includes restricted stock awards ("RSA"), restricted stock units ("RSU") and performance stock units ("PSU").
(d)The warrants expired on November 26, 2023.
Schedule of Nonvested RSA, RSU and PSU Cost The following table outlines RSA activity:
Year ended December 31,
 
2024
2023
2022
Number
of RSAs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSAs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSAs
(In thousands)
Weighted-
average
grant date
fair value
Unvested at beginning of year
8,456
$3.09
8,616
$4.40
6,949
$4.32
Granted
272
4.04
5,171
1.87
7,427
4.29
Vested
(4,024)
3.57
(3,910)
4.11
(2,633)
4.63
Forfeited
(543)
3.01
(1,421)
3.68
(3,127)
3.75
Unvested at end of year
4,161
$2.71
8,456
$3.09
8,616
$4.40
The following table outlines RSU and PSU activity:
Year ended December 31,
 
2024
2023
2022
Number
of RSUs &
PSUs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSUs &
PSUs
(In thousands)
Weighted-
average
grant date
fair value
Number
of RSUs &
PSUs
(In thousands)
Weighted-
average
grant date
fair value
Unvested at beginning of year
181
$1.83
1,000
$3.04
2,905
$4.05
Granted(a)
3,074
4.15
332
1.83
332
4.63
Vested
—
—
(152)
3.04
(1,905)
4.58
Forfeited and canceled(b)
(141)
2.44
(999)
2.85
(332)
4.63
Unvested at end of year
3,114
$4.10
181
$1.83
1,000
$3.04
(a) There were no RSUs granted during the years ended December 31, 2023 and 2022.
(b) For the years ended December 31, 2024, 2023, and 2022, the Company canceled 15 thousand, 900 thousand, and 332 thousand, respectively, of PSUs and
RSUs.
Schedule of Accumulated Other Comprehensive Income (Loss) The following tables summarize the components of, and the changes in, Accumulated other comprehensive income (loss),
net of tax:
In thousands
Pension and
postretirement
benefit plans
Foreign
currency
translation
Total
Balance at December 31, 2021
$50,870
$9,128
$59,998
Other comprehensive loss before reclassifications
(136,352)
(24,008)
(160,360)
Amounts reclassified from accumulated other comprehensive loss(a) (b) (c)
(869)
—
(869)
Current period other comprehensive loss
(137,221)
(24,008)
(161,229)
Balance at December 31, 2022
$(86,351)
$(14,880)
$(101,231)
Other comprehensive income before reclassifications
22,639
13,683
36,322
Amounts reclassified from accumulated other comprehensive income(a) (b)
(632)
—
(632)
Current period other comprehensive income
22,007
13,683
35,690
Balance at December 31, 2023
$(64,344)
$(1,197)
$(65,541)
Other comprehensive income (loss) before reclassifications
8,981
(14)
8,967
Amounts reclassified from accumulated other comprehensive income (loss)(a) (b)
410
—
410
Current period other comprehensive income (loss)
9,391
(14)
9,377
Balance at December 31, 2024
$(54,953)
$(1,211)
$(56,164)
(a)Accumulated other comprehensive income (loss) component represents amortization of actuarial loss and is included in the computation of net periodic
benefit cost. See Note 9 — Pensions and other postretirement benefit plans.
(b) Amounts reclassified from accumulated other comprehensive income (loss) are recorded net of income tax provision of $0.1 million for the year ended
December 31, 2024, and net of income tax benefits of $0.2 million, and $0.3 million for the years ended December 31, 2023 and 2022, respectively.
(c) Amounts reclassified from accumulated other comprehensive income (loss) include a net pension settlement gain of $0.7 million ($0.5 million, net of tax) for
the year ended December 31, 2022. See Note 9 — Pensions and other postretirement benefit plans.
v3.25.0.1
Segment reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Year ended December 31, 2024
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate and
other
Total
Revenue
$1,938,398
$239,273
$477,807
$5,656
$2,661,134
Elimination of intersegment revenues
—
—
—
—
(151,819)
Total revenues
1,938,398
239,273
477,807
5,656
2,509,315
Payroll
530,120
96,526
102,641
98,251
827,538
Benefits
96,329
4,075
12,752
12,831
125,987
Newsprint and ink
67,833
10,187
—
—
78,020
Distribution
276,069
12,755
—
—
288,824
Outside services
176,643
10,396
10,543
141,685
339,267
Digital cost of goods sold
176,959
9,175
295,548
2,052
483,734
Other(a)
412,024
42,750
12,645
(222,844)
244,575
Elimination of intersegment expenses
—
—
—
—
(151,819)
Adjusted EBITDA
202,421
53,409
43,678
(26,319)
273,189
Net loss attributable to noncontrolling interests
33
Interest expense
104,697
Gain on early extinguishment of debt
(55,559)
Non-operating pension income
(12,438)
Depreciation and amortization
156,287
Integration and reorganization costs(b)
66,155
Third-party debt expenses and acquisition costs(c)
10,932
Asset impairments
46,589
Loss on sale or disposal of assets, net
1,106
Share-based compensation expense
12,522
Other non-operating income, net
(1,317)
Non-recurring items
21,855
Loss before income taxes
(77,673)
Benefit for income taxes
(51,286)
Net loss
(26,387)
Net loss attributable to noncontrolling interests
(33)
Net loss attributable to Gannett
$(26,354)
(a)Other expenses include corporate allocations of shared costs and Equity loss (income) in unconsolidated investees, net, which are not separately provided to
the CODM. Corporate allocations include, but are not limited to legal, human resources, accounting, analytics, finance, marketing and technology, as well as
other general business costs.
(b)Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations.
(c)Third-party debt expenses and acquisition costs are included in Other operating expenses on the Consolidated statements of operations and comprehensive
income (loss).
Year ended December 31, 2023
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate and
other
Total
Revenue
$2,095,853
$233,980
$477,909
$6,268
$2,814,010
Elimination of intersegment revenues
—
—
—
—
(150,460)
Total revenues
2,095,853
233,980
477,909
6,268
2,663,550
Payroll
548,253
93,492
99,942
101,925
843,612
Benefits
100,434
4,002
11,852
15,296
131,584
Newsprint and ink
99,760
13,351
—
—
113,111
Distribution
323,749
13,325
2
2
337,078
Outside services
195,937
10,046
8,319
137,380
351,682
Digital cost of goods sold
180,876
9,876
289,878
1,950
482,580
Other(a)
452,203
39,760
14,693
(219,976)
286,680
Elimination of intersegment expenses
—
—
—
—
(150,460)
Adjusted EBITDA
194,641
50,128
53,223
(30,309)
267,683
Net loss attributable to noncontrolling interests
103
Interest expense
111,776
Gain on early extinguishment of debt
(4,529)
Non-operating pension income
(9,382)
Depreciation and amortization
162,622
Integration and reorganization costs(b)
24,468
Third-party debt expenses and acquisition costs(c)
1,550
Asset impairments
1,370
Gain on sale or disposal of assets, net
(40,101)
Share-based compensation expense
16,567
Other non-operating income, net
(3,050)
Non-recurring items
12,454
Loss before income taxes
(6,165)
Provision for income taxes
21,729
Net loss
(27,894)
Net loss attributable to noncontrolling interests
(103)
Net loss attributable to Gannett
$(27,791)
(a)Other expenses include corporate allocations of shared costs and Equity loss (income) in unconsolidated investees, net, which are not separately provided to
the CODM. Corporate allocations include, but are not limited to legal, human resources, accounting, analytics, finance, marketing and technology, as well as
other general business costs.
(b)Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations.
(c)Third-party debt expenses and acquisition costs are included in Other operating expenses on the Consolidated statements of operations and comprehensive
income (loss).
Year ended December 31, 2022
In thousands
Domestic
Gannett
Media
Newsquest
Digital
Marketing
Solutions
Corporate and
other
Total
Revenue
$2,379,806
$234,630
$468,883
$5,440
$3,088,759
Elimination of intersegment revenues
—
—
—
—
(143,456)
Total revenues
2,379,806
234,630
468,883
5,440
2,945,303
Payroll
641,747
96,853
93,802
125,478
957,880
Benefits
135,882
4,887
13,698
21,358
175,825
Newsprint and ink
129,077
15,039
—
—
144,116
Distribution
370,594
14,697
—
9
385,300
Outside services
223,365
11,061
10,016
134,271
378,713
Digital cost of goods sold
176,986
9,658
278,573
136
465,353
Other(a)
494,507
42,408
15,214
(227,840)
324,289
Elimination of intersegment expenses
—
—
—
—
(143,456)
Adjusted EBITDA
207,648
40,027
57,580
(47,972)
257,283
Net loss attributable to noncontrolling interests
253
Interest expense
108,366
Gain on early extinguishment of debt
(399)
Non-operating pension income
(58,953)
Depreciation and amortization
182,022
Integration and reorganization costs(b)
87,974
Third-party debt expenses and acquisition costs(c)
1,892
Asset impairments
1,056
Gain on sale or disposal of assets, net
(6,883)
Share-based compensation expense
16,751
Other non-operating income, net
(2,286)
Non-recurring items
4,396
Loss before income taxes
(76,906)
Provision for income taxes
1,349
Net loss
(78,255)
Net loss attributable to noncontrolling interests
(253)
Net loss attributable to Gannett
$(78,002)
(a)Other expenses include corporate allocations of shared costs and Equity loss (income) in unconsolidated investees, net, which are not separately provided to
the CODM. Corporate allocations include, but are not limited to legal, human resources, accounting, analytics, finance, marketing and technology, as well as
other general business costs.
(b)Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the
Company's employee base, consolidate facilities and improve operations.
(c)Third-party debt expenses and acquisition costs are included in Other operating expenses on the Consolidated statements of operations and comprehensive
income (loss).
v3.25.0.1
Description of business and basis of presentation (Details)
 12 Months Ended
Dec. 31, 2024
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating segments 3
v3.25.0.1
Summary of significant accounting policies - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents        
Cash and cash equivalents $ 106,299 $ 100,180 $ 94,255  
Restricted cash, included in prepaid expenses and other current assets 278 371 563  
Restricted cash, included in other assets 9,604 10,061 9,986  
Total cash, cash equivalents and restricted cash $ 116,181 $ 110,612 $ 104,804 $ 143,619
v3.25.0.1
Summary of significant accounting policies - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Cash paid for taxes, net $ 10,115 $ 8,222 $ 3,409
Cash paid for interest 86,321 89,335 86,485
Non-cash investing and financing activities:      
Convertible notes exchange 223,614 0 0
Accrued capital expenditures $ 39,634 $ 2,390 $ 699
v3.25.0.1
Summary of significant accounting policies - Schedule Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment    
Total property, plant and equipment $ 577,993 $ 575,495
Less: accumulated depreciation (337,013) (336,408)
Property, plant, and equipment, net 240,980 239,087
Land    
Property, Plant and Equipment    
Total property, plant and equipment 18,075 21,990
Buildings and improvements    
Property, Plant and Equipment    
Total property, plant and equipment $ 123,454 147,171
Buildings and improvements | Minimum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 10 years  
Buildings and improvements | Maximum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 30 years  
Machinery and equipment    
Property, Plant and Equipment    
Total property, plant and equipment $ 224,138 258,432
Machinery and equipment | Minimum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 3 years  
Machinery and equipment | Maximum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 20 years  
Capitalized software    
Property, Plant and Equipment    
Total property, plant and equipment $ 183,172 114,122
Capitalized computer software, accumulated amortization $ 105,500 74,400
Capitalized software | Minimum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 3 years  
Capitalized software | Maximum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 5 years  
Furniture and fixtures    
Property, Plant and Equipment    
Total property, plant and equipment $ 14,793 23,541
Furniture and fixtures | Minimum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 7 years  
Furniture and fixtures | Maximum    
Property, Plant and Equipment    
Property, plant and equipment, useful life 10 years  
Construction in progress    
Property, Plant and Equipment    
Total property, plant and equipment $ 14,361 $ 10,239
v3.25.0.1
Summary of significant accounting policies - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
reporting_unit
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Significant Accounting Policies      
Depreciation expense $ 68,200,000 $ 72,600,000 $ 86,400,000
Reporting units (units) | reporting_unit 3    
Goodwill and intangible impairments $ 0 0 0
Advertising expense $ 45,700,000 $ 41,900,000 $ 56,800,000
Minimum | Digital      
Significant Accounting Policies      
Customer subscription term 1 month    
Minimum | Print and commercial      
Significant Accounting Policies      
Customer subscription term 1 month    
Minimum | Customer Subscription | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01      
Significant Accounting Policies      
Expected timing of satisfaction 1 month    
Maximum | Digital      
Significant Accounting Policies      
Customer subscription term 12 months    
Maximum | Print and commercial      
Significant Accounting Policies      
Customer subscription term 12 months    
Maximum | Customer Subscription | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01      
Significant Accounting Policies      
Expected timing of satisfaction 12 months    
v3.25.0.1
Summary of significant accounting policies - Concentration Risk (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues $ 2,509,315 $ 2,663,550 $ 2,945,303
United Kingdom | Newsquest      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 239,300    
Foreign Countries | Newsquest      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-lived assets 182,700    
Foreign Countries | Digital Marketing Solutions      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenues 40,600    
Long-lived assets $ 5,500    
v3.25.0.1
Summary of significant accounting policies - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Accounts payable $ 154,162 $ 142,215
Compensation 81,738 82,160
Taxes (primarily property, sales, and payroll taxes) 9,135 9,990
Benefits 19,765 19,422
Interest 3,972 5,617
Other 49,612 34,040
Accounts payable and accrued liabilities $ 318,384 $ 293,444
v3.25.0.1
Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue      
Total revenues $ 2,509,315 $ 2,663,550 $ 2,945,303
Digital advertising      
Disaggregation of Revenue      
Total revenues 346,378 333,611 357,346
Digital marketing services      
Disaggregation of Revenue      
Total revenues 476,049 476,958 467,909
Digital-only subscription      
Disaggregation of Revenue      
Total revenues 188,828 155,621 132,618
Digital other      
Disaggregation of Revenue      
Total revenues 92,396 84,180 80,707
Digital      
Disaggregation of Revenue      
Total revenues 1,103,651 1,050,370 1,038,580
Print advertising      
Disaggregation of Revenue      
Total revenues 525,800 576,545 670,882
Print circulation      
Disaggregation of Revenue      
Total revenues 650,047 772,200 952,019
Commercial and other      
Disaggregation of Revenue      
Total revenues 229,817 264,435 283,822
Print and commercial      
Disaggregation of Revenue      
Total revenues 1,405,664 1,613,180 1,906,723
Operating Segments | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 1,938,398 2,095,853 2,379,806
Operating Segments | Newsquest      
Disaggregation of Revenue      
Total revenues 239,273 233,980 234,630
Operating Segments | Digital Marketing Solutions      
Disaggregation of Revenue      
Total revenues 477,807 477,909 468,883
Operating Segments | Digital advertising | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 292,897 283,249 306,456
Operating Segments | Digital advertising | Newsquest      
Disaggregation of Revenue      
Total revenues 53,481 50,362 50,890
Operating Segments | Digital marketing services | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 142,120 140,589 133,219
Operating Segments | Digital marketing services | Newsquest      
Disaggregation of Revenue      
Total revenues 7,941 8,920 9,263
Operating Segments | Digital marketing services | Digital Marketing Solutions      
Disaggregation of Revenue      
Total revenues 477,807 477,909 468,883
Operating Segments | Digital-only subscription | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 181,670 150,384 127,671
Operating Segments | Digital-only subscription | Newsquest      
Disaggregation of Revenue      
Total revenues 7,158 5,237 4,947
Operating Segments | Digital other | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 76,027 67,521 65,757
Operating Segments | Digital other | Newsquest      
Disaggregation of Revenue      
Total revenues 10,713 10,391 9,510
Operating Segments | Digital | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 692,714 641,743 633,103
Operating Segments | Digital | Newsquest      
Disaggregation of Revenue      
Total revenues 79,293 74,910 74,610
Operating Segments | Digital | Digital Marketing Solutions      
Disaggregation of Revenue      
Total revenues 477,807 477,909 468,883
Operating Segments | Print advertising | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 451,589 501,701 594,741
Operating Segments | Print advertising | Newsquest      
Disaggregation of Revenue      
Total revenues 74,211 74,844 76,141
Operating Segments | Print circulation | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 582,965 704,158 884,854
Operating Segments | Print circulation | Newsquest      
Disaggregation of Revenue      
Total revenues 67,082 68,042 67,165
Operating Segments | Commercial and other | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 211,130 248,251 267,108
Operating Segments | Commercial and other | Newsquest      
Disaggregation of Revenue      
Total revenues 18,687 16,184 16,714
Operating Segments | Print and commercial | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 1,245,684 1,454,110 1,746,703
Operating Segments | Print and commercial | Newsquest      
Disaggregation of Revenue      
Total revenues 159,980 159,070 160,020
Operating Segments | Commercial Printing and Delivery Revenue | Domestic Gannett Media      
Disaggregation of Revenue      
Total revenues 141,800 178,100 204,800
Operating Segments | Commercial Printing and Delivery Revenue | Newsquest      
Disaggregation of Revenue      
Total revenues 10,200 8,000 7,000
Corporate and other      
Disaggregation of Revenue      
Total revenues 5,656 6,268 5,440
Corporate and other | Digital other      
Disaggregation of Revenue      
Total revenues 5,656 6,268 5,440
Corporate and other | Digital      
Disaggregation of Revenue      
Total revenues 5,656 6,268 5,440
Elimination of intersegment revenues      
Disaggregation of Revenue      
Total revenues (151,819) (150,460) (143,456)
Elimination of intersegment revenues | Digital marketing services      
Disaggregation of Revenue      
Total revenues (151,819) (150,460) (143,456)
Elimination of intersegment revenues | Digital      
Disaggregation of Revenue      
Total revenues $ (151,819) $ (150,460) $ (143,456)
v3.25.0.1
Revenues - Narrative (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
International | Revenue Benchmark | Geographic Concentration Risk      
Revenue, Initial Application Period Cumulative Effect Transition      
Revenue, percentage 11.20% 10.30% 9.30%
v3.25.0.1
Revenues - Schedule of Deferred Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Movement in Deferred Revenue    
Beginning balance $ 120,502 $ 153,648
Receipts, net of refunds 1,023,636 1,097,699
Revenue recognized (1,036,138) (1,130,845)
Ending balance $ 108,000 $ 120,502
v3.25.0.1
Leases - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Property
Dec. 31, 2024
USD ($)
Lessee, Lease, Description    
Number of properties sold | Property 2  
Proceeds from sale, property, held-for-sale $ 60.5  
Net gain on sale of properties 39.3  
Sale-leaseback transaction, cumulative annual rent $ 39.9  
Lease not yet commenced future lease payments   $ 0.9
Minimum    
Lessee, Lease, Description    
Remaining lease term with option to extend (in years)   1 year
Maximum    
Lessee, Lease, Description    
Remaining lease term with option to extend (in years)   12 years
v3.25.0.1
Leases - Schedule of Components Of Leases Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease cost $ 52,417 $ 64,845 $ 73,103
Short-term lease cost 938 900 929
Variable lease cost 12,390 13,200 13,002
Net lease cost 65,745 78,945 87,034
Sublease income $ 8,300 $ 9,100 $ 7,700
v3.25.0.1
Leases - Schedule of Other Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Supplemental Information      
Cash paid for amounts included in the measurement of operating lease liabilities $ 71,985 $ 76,338 $ 79,659
Right-of-use assets obtained in exchange for operating lease obligations 6,071 31,501 15,272
Gain on sale and leaseback transactions, net $ (105) $ (40,221) $ (12,249)
Weighted-average remaining lease term (in years) 6 years 6 years 4 months 24 days 6 years 9 months 18 days
Weighted-average discount rate 13.20% 13.00% 12.60%
v3.25.0.1
Leases - Schedule of Future Minimum Lease Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Year ended December 31,  
2025 $ 61,987
2026 50,461
2027 42,486
2028 38,113
2029 37,293
Thereafter 74,223
Total future minimum lease payments 304,563
Less: Imputed interest 97,071
Total $ 207,492
v3.25.0.1
Accounts receivable, net - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Receivables [Abstract]    
Accounts receivable, reserve percentage calculation period 3 years  
Threshold period for reserves 90 days  
Bad debt expense $ 5,155 $ 12,316
v3.25.0.1
Accounts receivable, net - Schedule of Allowance for Schedule of Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss    
Beginning balance $ 16,338 $ 16,697
Current period provision 5,155 12,316
Write-offs charged against the allowance (10,564) (17,143)
Recoveries of amounts previously written-off 2,676 4,325
Other (9) 143
Ending balance $ 13,596 $ 16,338
v3.25.0.1
Goodwill and intangible assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount $ 852,152 $ 868,307
Accumulated amortization 588,481 510,833
Net carrying amount 263,671 357,474
Indefinite-lived intangible assets:    
Total intangible assets 430,374 524,350
Goodwill 530,028 533,876
Mastheads    
Indefinite-lived intangible assets:    
Nonamortized intangible assets 166,703 166,876
Advertiser relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 445,356 446,609
Accumulated amortization 279,176 236,168
Net carrying amount 166,180 210,441
Other customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 89,106 101,819
Accumulated amortization 59,198 56,601
Net carrying amount 29,908 45,218
Subscriber relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 250,820 251,099
Accumulated amortization 183,895 155,528
Net carrying amount 66,925 95,571
Other intangible assets    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying amount 66,870 68,780
Accumulated amortization 66,212 62,536
Net carrying amount $ 658 $ 6,244
v3.25.0.1
Goodwill and intangible assets - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Intangible Assets      
Weighted average useful life 10 years 2 months 12 days    
Amortization expenses $ 88,100,000 $ 90,000,000.0 $ 95,600,000
Future amortization expense - 2025 80,700,000    
Future amortization expense - 2026 62,200,000    
Future amortization expense - 2027 60,900,000    
Future amortization expense - 2028 26,000,000    
Future amortization expense - 2029 and thereafter 33,800,000    
Property, plant and equipment impairments 0    
Goodwill and intangible impairments 0 0 $ 0
Domestic Gannett Media      
Intangible Assets      
Goodwill accumulated impairment losses 340,800,000 340,800,000  
Newsquest      
Intangible Assets      
Goodwill accumulated impairment losses 70,500,000 70,500,000  
Digital Marketing Solutions      
Intangible Assets      
Goodwill accumulated impairment losses $ 44,100,000 $ 44,100,000  
Minimum | Measurement Input, Long-term Revenue Growth Rate      
Intangible Assets      
Intangible assets measurement inputs (percent) 0.00%    
Minimum | Measurement Input, Discount Rate      
Intangible Assets      
Intangible assets measurement inputs (percent) 13.50%    
Maximum | Measurement Input, Long-term Revenue Growth Rate      
Intangible Assets      
Intangible assets measurement inputs (percent) 3.00%    
Maximum | Measurement Input, Discount Rate      
Intangible Assets      
Intangible assets measurement inputs (percent) 20.00%    
Advertiser relationships      
Intangible Assets      
Weighted average useful life 11 years 1 month 6 days    
Other customer relationships      
Intangible Assets      
Weighted average useful life 10 years    
Subscriber relationships      
Intangible Assets      
Weighted average useful life 10 years 3 months 18 days    
Other intangible assets      
Intangible Assets      
Weighted average useful life 3 years 10 months 24 days    
v3.25.0.1
Goodwill and intangible assets - Schedule of the Change in Net Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill    
Beginning Balance $ 533,876 $ 533,166
Acquisitions   30
Divestitures (3,662) (128)
Foreign exchange (186) 808
Ending Balance 530,028 533,876
Domestic Gannett Media    
Goodwill    
Beginning Balance 401,057 401,106
Acquisitions   0
Divestitures (3,662) (46)
Foreign exchange 13 (3)
Ending Balance 397,408 401,057
Newsquest    
Goodwill    
Beginning Balance 15,348 14,589
Acquisitions   30
Divestitures 0 (82)
Foreign exchange (199) 811
Ending Balance 15,149 15,348
Digital Marketing Solutions    
Goodwill    
Beginning Balance 117,471 117,471
Acquisitions   0
Divestitures 0 0
Foreign exchange 0 0
Ending Balance $ 117,471 $ 117,471
v3.25.0.1
Integration and reorganization costs and asset impairments - Schedule of Severance-Related Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve      
Integration and reorganization costs (reversal) $ 66,155 $ 24,468 $ 87,974
Severance      
Restructuring Cost and Reserve      
Integration and reorganization costs (reversal) 15,148 18,517 57,614
Operating Segments | Domestic Gannett Media | Severance      
Restructuring Cost and Reserve      
Integration and reorganization costs (reversal) 11,529 9,935 40,654
Operating Segments | Newsquest | Severance      
Restructuring Cost and Reserve      
Integration and reorganization costs (reversal) 884 1,762 4,216
Operating Segments | Digital Marketing Solutions | Severance      
Restructuring Cost and Reserve      
Integration and reorganization costs (reversal) 1,254 756 434
Corporate and other | Severance      
Restructuring Cost and Reserve      
Integration and reorganization costs (reversal) $ 1,481 $ 6,064 $ 12,310
v3.25.0.1
Integration and reorganization costs and asset impairments - Schedule of Severance-Related Liabilities Activity (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Reserve      
Restructuring provision included in integration and reorganization costs $ 66,155 $ 24,468 $ 87,974
Severance      
Restructuring Reserve      
Balance, beginning of period 6,928 29,773  
Restructuring provision included in integration and reorganization costs 15,148 18,517 57,614
Cash payments (16,585) (41,362)  
Balance, end of period $ 5,491 $ 6,928 $ 29,773
v3.25.0.1
Integration and reorganization costs and asset impairments - Schedule of Other Restructuring-related Charges (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Restructuring      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) $ 51,007 $ 5,951 $ 30,360
Operating Segments | Domestic Gannett Media | Other Restructuring      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) 38,096 (4,353) 14,921
Operating Segments | Domestic Gannett Media | Other Restructuring, Multiemployer Pension Plans      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) 25,900 (6,400) 8,600
Operating Segments | Domestic Gannett Media | Other Restructuring, Licensed Content      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) 9,700    
Operating Segments | Newsquest | Other Restructuring      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) (1,397) 1 209
Operating Segments | Newsquest | Other Restructuring, Multiemployer Pension Plans      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) (1,400)    
Operating Segments | Digital Marketing Solutions | Other Restructuring      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) 807 28 674
Corporate and other | Other Restructuring      
Restructuring Cost and Reserve      
Restructuring-related costs (reversals) $ 13,501 $ 10,275 $ 14,556
v3.25.0.1
Integration and reorganization costs and asset impairments - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Restructuring and Related Activities [Abstract]  
Asset impairment charges $ 46.0
v3.25.0.1
Debt - Schedule of Debt (Details) - USD ($)
Dec. 31, 2024
Dec. 04, 2024
Oct. 15, 2024
Dec. 31, 2023
Oct. 15, 2021
Nov. 17, 2020
Debt Instrument            
Principal balance $ 1,111,800,000     $ 1,130,600,000    
Unamortized original issue discount (21,400,000)     (78,800,000)    
Unamortized deferred financing costs (10,600,000)     (7,200,000)    
Long-term debt 755,754,000     564,836,000    
Total debt obligations 1,079,800,000     1,044,600,000    
Long term debt, gross, current (74,300,000)     (63,800,000)    
Debt instrument unamortized discount current 0     0    
Debt issuance costs, current, net 0     0    
Long-term debt, current maturities (74,300,000)     (63,800,000)    
Non-current debt, gross, noncurrent 1,037,500,000     1,066,800,000    
Debt instrument, unamortized discount, noncurrent (21,400,000)     (78,800,000)    
Debt issuance costs, noncurrent, net (10,600,000)     (7,200,000)    
Non-current portion of long-term debt 1,005,500,000     980,800,000    
Term Loan Facility | 2029 Term Loan Facility            
Debt Instrument            
Principal balance 850,000,000.0     0    
Unamortized original issue discount (12,200,000)     0    
Unamortized deferred financing costs (7,700,000)     0    
Secured debt 830,100,000     0    
Term Loan Facility | Senior Secured Term Loan            
Debt Instrument            
Unamortized original issue discount (1,300,000)          
Unamortized deferred financing costs (300,000)          
Term Loan Facility | 2026 Senior Notes            
Debt Instrument            
Unamortized original issue discount (900,000)          
Unamortized deferred financing costs (700,000)          
Senior Secured Term Loan | 2029 Term Loan Facility            
Debt Instrument            
Principal balance     $ 900,000,000.0      
Senior Secured Term Loan | Senior Secured Term Loan            
Debt Instrument            
Principal balance 0     350,400,000 $ 516,000,000.0  
Unamortized original issue discount 0     (5,200,000)    
Unamortized deferred financing costs 0     (1,100,000)    
Secured debt 0     344,100,000    
Senior Notes | 2026 Senior Notes            
Debt Instrument            
Principal balance 0   274,700,000 291,600,000 $ 400,000,000  
Unamortized original issue discount 0     (5,800,000)    
Unamortized deferred financing costs 0     (4,600,000)    
Long-term debt 0     281,200,000    
Total debt obligations   $ 3,900,000        
Convertible Debt | 2031 Notes            
Debt Instrument            
Principal balance 223,700,000   110,000 0    
Unamortized original issue discount (5,000,000.0)   (3,600,000) 0    
Unamortized deferred financing costs (2,800,000)   $ (2,900,000) 0    
Long-term debt 215,900,000     0    
Convertible Debt | 2027 Notes            
Debt Instrument            
Principal balance 38,100,000     485,300,000    
Unamortized original issue discount (4,200,000)     (67,800,000)   $ (4,400,000)
Unamortized deferred financing costs (100,000)     (1,500,000)   $ (100,000)
Long-term debt 33,800,000     416,000,000.0    
Convertible Debt | 2024 Notes            
Debt Instrument            
Principal balance 0     3,300,000    
Unamortized original issue discount 0     0    
Unamortized deferred financing costs 0     0    
Long-term debt $ 0     $ 3,300,000    
v3.25.0.1
Debt - 2029 Term Loan Facility (Details) - USD ($)
Oct. 15, 2024
Dec. 31, 2024
Dec. 31, 2023
Line of Credit Facility      
Principal balance   $ 1,111,800,000 $ 1,130,600,000
2029 Term Loan Facility | Senior Secured Term Loan      
Line of Credit Facility      
Principal balance $ 900,000,000.0    
Senior-secured term loan (in years) 5 years    
2029 Term Loan Facility | Senior Secured Term Loan | Base Rate      
Line of Credit Facility      
Variable rate (percent) 4.00%    
2029 Term Loan Facility | Senior Secured Term Loan | Adjusted Term SOFR      
Line of Credit Facility      
Variable rate (percent) 5.00%    
2029 Term Loan Facility | Senior Secured Term Loan | Minimum | Base Rate      
Line of Credit Facility      
Stated interest rate 2.50%    
2029 Term Loan Facility | Senior Secured Term Loan | Minimum | Adjusted Term SOFR      
Line of Credit Facility      
Stated interest rate 1.50%    
2029 Term Loan Facility | Line of Credit      
Line of Credit Facility      
Amortization quarterly amount $ 17,000,000    
Cash requirement 100,000,000    
2029 Initial Draw Facility | Senior Secured Term Loan      
Line of Credit Facility      
Principal balance 850,400,000    
2029 Delayed Draw Facility | Line of Credit      
Line of Credit Facility      
Principal balance $ 49,600,000    
Senior-secured term loan (in years) 6 months    
Line of credit drawn   $ 0  
Loan Option Consideration | Senior Notes      
Line of Credit Facility      
Principal balance $ 40,400,000    
v3.25.0.1
Debt - Senior Secured Term Loan (Details)
 12 Months Ended
Oct. 15, 2021
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2022
USD ($)
amendment
Dec. 31, 2023
USD ($)
Apr. 08, 2022
USD ($)
Jan. 31, 2022
USD ($)
Line of Credit Facility            
Principal balance   $ 1,111,800,000   $ 1,130,600,000    
Senior Secured Term Loan | Senior Secured Term Loan            
Line of Credit Facility            
Principal balance $ 516,000,000.0 0   $ 350,400,000    
Cash requirement $ 100,000,000          
Amortization quarterly amount         $ 15,100,000  
First lien net leverage ratio         1.20  
Amortization quarterly amount upon ratio threshold         $ 7,600,000  
Debt instrument, reduction of quarterly amortization payment, waiver   $ 12,000,000.0        
Senior Secured Term Loan | Senior Secured Term Loan | SOFR            
Line of Credit Facility            
Variable rate (percent) 5.00%          
Senior Secured Term Loan | Senior Secured Term Loan | Alternate Base Rate            
Line of Credit Facility            
Variable rate (percent) 4.00%          
Senior Secured Term Loan | Senior Secured Term Loan | Minimum | SOFR            
Line of Credit Facility            
Variable rate (percent) 0.50%          
Senior Secured Term Loan | Senior Secured Term Loan | Minimum | Alternate Base Rate            
Line of Credit Facility            
Variable rate (percent) 1.50%          
Incremental Term Loans | Senior Secured Term Loan            
Line of Credit Facility            
Principal balance     $ 30,000,000.0     $ 50,000,000
Number of separate amendments | amendment     2      
v3.25.0.1
Debt - Term Loan Summary (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Line of Credit Facility      
Unamortized original issue discount $ 21,400,000 $ 78,800,000  
Unamortized deferred financing costs 10,600,000 7,200,000  
Gain (loss) on extinguishment of debt 55,559,000 4,529,000 $ 399,000
Term Loans | Term Loan Facility      
Line of Credit Facility      
Interest expense 45,000,000 40,000,000.0  
Interest paid 42,500,000 40,000,000.0  
Amortization of the discount 2,300,000 2,800,000  
Amortization of debt issuance costs 700,000 600,000  
Gain (loss) on extinguishment of debt (2,500,000) (1,100,000)  
Term Loans | Term Loan Facility | Minimum      
Line of Credit Facility      
Unrestricted cash requirement 30,000,000    
Senior Secured Term Loan | Term Loan Facility      
Line of Credit Facility      
Unamortized original issue discount 1,300,000    
Unamortized deferred financing costs 300,000    
Mandatory and optional prepayments 350,400,000    
2029 Term Loan Facility | Term Loan Facility      
Line of Credit Facility      
Unamortized original issue discount 12,200,000 0  
Unamortized deferred financing costs 7,700,000 $ 0  
Mandatory and optional prepayments $ 500,000    
Effective interest rate 10.10%    
2029 Term Loan Facility | Term Loan Facility | New Lenders      
Line of Credit Facility      
Unamortized original issue discount $ 10,600,000    
Unamortized deferred financing costs 7,100,000    
2029 Term Loan Facility | Term Loan Facility | Existing Lenders      
Line of Credit Facility      
Unamortized original issue discount 2,200,000    
Debt instrument, third-party fees 5,000,000.0    
2026 Senior Notes | Term Loan Facility      
Line of Credit Facility      
Unamortized original issue discount 900,000    
Unamortized deferred financing costs 700,000    
Debt Covenant, Range One | Term Loans | Term Loan Facility      
Line of Credit Facility      
Maximum debt or equity purchasable $ 25,000,000    
First lien net leverage ratio 2.00    
Debt Covenant, Range Two | Term Loans | Term Loan Facility      
Line of Credit Facility      
Maximum debt or equity purchasable $ 50,000,000    
First lien net leverage ratio 1.50    
Debt Covenant, Range Three | Term Loans | Term Loan Facility      
Line of Credit Facility      
First lien net leverage ratio 1.50    
Debt Covenant, Range Four | Term Loans | Term Loan Facility      
Line of Credit Facility      
First lien net leverage ratio 1.00    
Debt Covenant, Range Five | Term Loans | Term Loan Facility      
Line of Credit Facility      
First lien net leverage ratio 1.00    
v3.25.0.1
Debt - 2026 Senior Notes (Details) - USD ($)
 1 Months Ended 12 Months Ended
Oct. 15, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 04, 2024
Oct. 15, 2021
Line of Credit Facility              
Principal balance     $ 1,111,800,000 $ 1,130,600,000      
Aggregate principal amount of debt     1,079,800,000 1,044,600,000      
Gain (loss) on extinguishment of debt     55,559,000 4,529,000 $ 399,000    
2026 Senior Notes              
Line of Credit Facility              
Percentage of upfront fee 1.50%            
2026 Senior Notes | Senior Notes              
Line of Credit Facility              
Principal balance $ 274,700,000   0 291,600,000     $ 400,000,000
Stated interest rate             6.00%
Mandatory and optional prepayments   $ 13,000,000.0   53,600,000      
Payments to acquire notes receivable 234,900,000            
Aggregate principal amount of debt           $ 3,900,000  
Gain (loss) on extinguishment of debt     (5,100,000) 5,600,000      
Interest expense     13,400,000 19,500,000      
Interest paid     16,300,000 20,100,000      
Amortization of the discount     1,600,000 2,300,000      
Amortization of debt issuance costs     1,200,000 1,800,000      
Senior Secured Term Loan | Senior Secured Term Loan              
Line of Credit Facility              
Principal balance     0 $ 350,400,000     $ 516,000,000.0
Debt instrument, reduction of quarterly amortization payment, waiver     $ 12,000,000.0        
Loan Option Consideration | Senior Notes              
Line of Credit Facility              
Principal balance 40,400,000            
Cash Option Consideration | Senior Notes              
Line of Credit Facility              
Principal balance $ 234,300,000            
v3.25.0.1
Debt - Senior Secured Convertible Notes due 2027 and 2031 (Details)
 12 Months Ended
Oct. 15, 2024
USD ($)
component
$ / shares
shares
Dec. 31, 2024
USD ($)
shares
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
Nov. 17, 2020
USD ($)
$ / shares
Line of Credit Facility          
Principal balance   $ 1,111,800,000 $ 1,130,600,000    
Common stock, par value (in dollars per share) | $ / shares   $ 0.01 $ 0.01    
Gain on early extinguishment of debt   $ 55,559,000 $ 4,529,000 $ 399,000  
Unamortized original issue discount   21,400,000 78,800,000    
Unamortized deferred financing costs   10,600,000 7,200,000    
2027 Notes          
Line of Credit Facility          
Fair value of conversion feature   42,000,000.0      
2027 Notes | Convertible Debt          
Line of Credit Facility          
Stated interest rate         6.00%
Repurchased face amount $ 223,600,000        
Debt instrument, debt repurchased, rate per $1,000 1,110        
Repurchase amount $ 248,200,000        
Principal balance   38,100,000 485,300,000    
Common stock, par value (in dollars per share) | $ / shares $ 0.01        
If-converted value in excess of principal   500,000      
Number of components | component 2        
Gain on early extinguishment of debt   114,600,000      
Unamortized issue discount written off   50,300,000      
Write off of debt issuance cost   1,100,000      
Reduction in additional paid-in capital   $ 237,500,000      
Aggregate shares receivable upon conversion (shares) | shares   22,500,000      
Unamortized original issue discount   $ 4,200,000 67,800,000   $ 4,400,000
Unamortized deferred financing costs   $ 100,000 1,500,000   $ 100,000
Effective interest rate   10.50%      
2027 Notes | Convertible Debt | Level 2          
Line of Credit Facility          
Debt fair value   $ 44,600,000      
2027 Notes | Convertible Debt | Period One          
Line of Credit Facility          
Redemption rate 110.00%        
2027 Notes | Convertible Debt | Scenario, Plan          
Line of Credit Facility          
Initial conversion rate (in shares) | shares 200        
Stated conversion price (in usd per share) | $ / shares $ 5.00       $ 5.00
Aggregate shares receivable upon conversion (shares) | shares   7,600,000      
2031 Notes | Convertible Debt          
Line of Credit Facility          
Stated interest rate 6.00%        
Principal balance $ 110,000 $ 223,700,000 0    
Accrued interest and unpaid $ 10,000,000        
Common stock, par value (in dollars per share) | $ / shares $ 0.01        
If-converted value in excess of principal   2,700,000      
Redemption rate 140.00%        
Debt redemption right, amount $ 72,800,000        
Debt redemption right, percentage of principal 30.00%        
Minimum qualified cash required $ 30,000,000.0        
Number of components | component 2        
Reduction in additional paid-in capital   $ 80,400,000      
Aggregate shares receivable upon conversion (shares) | shares   143,900,000      
Debt instrument, issued premium rate 50.00%        
Unamortized original issue discount $ 3,600,000 $ 5,000,000.0 0    
Unamortized deferred financing costs $ 2,900,000 $ 2,800,000 0    
Senior-secured term loan (in years) 7 years        
Effective interest rate   6.60%      
Initial conversion rate (in shares) | shares   0      
2031 Notes | Convertible Debt | Period One          
Line of Credit Facility          
Redemption rate 110.00%        
Total gross leverage ratio 1.5        
2031 Notes | Convertible Debt | Scenario, Plan          
Line of Credit Facility          
Stated conversion price (in usd per share) | $ / shares $ 5.00        
Aggregate shares receivable upon conversion (shares) | shares   44,700,000      
2027 Notes Transferred to 2031 Notes | Convertible Debt          
Line of Credit Facility          
Unamortized original issue discount $ 1,600,000        
2027 Notes and 2031 Notes | Convertible Debt          
Line of Credit Facility          
Interest expense   $ 26,200,000 29,100,000    
Interest paid   27,400,000 29,100,000    
Amortization of the discount   11,900,000 13,400,000    
Amortization of debt issuance costs   $ 300,000 $ 300,000    
v3.25.0.1
Debt - Senior Convertible Notes due 2024 (Details) - USD ($)
 12 Months Ended
Apr. 15, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Apr. 14, 2024
Line of Credit Facility          
Principal balance   $ 1,111,800,000 $ 1,130,600,000    
Repayments of convertible debt   248,211,000 0 $ 0  
2024 Notes | Convertible Debt          
Line of Credit Facility          
Principal balance   $ 0 $ 3,300,000    
Stated interest rate         4.75%
Repayments of convertible debt $ 3,300,000        
v3.25.0.1
Debt - Schedule of Future Debt Obligation Payments (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Principal payments  
2025 $ 68.0
2026 68.0
2027 106.1
2028 68.0
2029 and thereafter 801.7
Total debt obligations $ 1,111.8
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Reconciliation of Benefit Obligations, Plan Assets and Funded Status (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in plan assets      
Fair value of plan assets at beginning of period $ 1,785,367    
Actual return on plan assets     $ (381,700)
Fair value of plan assets at end of period 1,661,378 $ 1,785,367  
Pension benefits      
Change in benefit obligations      
Projected benefit obligation at beginning of period 1,658,045 1,642,180  
Service cost 998 1,366 1,754
Interest cost 81,500 84,449 71,733
Change in prior service cost 0 0  
Actuarial (gain) loss (101,025) 21,769  
Foreign currency translation (8,174) 33,973  
Benefits and expenses paid (127,368) (125,692)  
Curtailment 119 0  
Settlement 964 0  
Projected benefit obligation at end of period 1,503,131 1,658,045 1,642,180
Change in plan assets      
Fair value of plan assets at beginning of period 1,783,898 1,720,810  
Actual return on plan assets 5,620 150,371  
Employer contributions 7,949 1,441  
Settlement (964) 0  
Benefits paid (127,368) (125,692)  
Foreign currency translation (9,433) 36,968  
Fair value of plan assets at end of period 1,659,702 1,783,898 1,720,810
Reconciliation of funded status      
Funded status at end of period 156,571 125,853  
Unrecognized actuarial loss (gain) 76,547 90,813  
Unrecognized prior service cost 1,491 1,581  
Net prepaid (accrued) benefit cost 234,609 218,247  
Balance sheet presentation      
Other assets 160,343 131,881  
Accounts payable and accrued liabilities 277 282  
Pension and other postretirement benefit obligations 3,495 5,746  
Accumulated other comprehensive (loss) income (78,038) (92,394)  
Net prepaid (accrued) benefit cost 234,609 218,247  
Postretirement benefits      
Change in benefit obligations      
Projected benefit obligation at beginning of period 41,719 47,043  
Service cost 35 40 77
Interest cost 2,120 2,334 1,770
Change in prior service cost 0 (3,307)  
Actuarial (gain) loss (286) 109  
Foreign currency translation 0 0  
Benefits and expenses paid (4,581) (4,500)  
Curtailment 0 0  
Settlement 0 0  
Projected benefit obligation at end of period 39,007 41,719 47,043
Change in plan assets      
Fair value of plan assets at beginning of period 0 0  
Actual return on plan assets 0 0  
Employer contributions 4,581 4,500  
Settlement 0 0  
Benefits paid (4,581) (4,500)  
Foreign currency translation 0 0  
Fair value of plan assets at end of period 0 0 $ 0
Reconciliation of funded status      
Funded status at end of period (39,007) (41,719)  
Unrecognized actuarial loss (gain) (11,929) (13,555)  
Unrecognized prior service cost (2,169) (2,738)  
Net prepaid (accrued) benefit cost (53,105) (58,012)  
Balance sheet presentation      
Other assets 0 0  
Accounts payable and accrued liabilities 4,682 4,804  
Pension and other postretirement benefit obligations 34,325 36,915  
Accumulated other comprehensive (loss) income 14,098 16,293  
Net prepaid (accrued) benefit cost $ (53,105) $ (58,012)  
v3.25.0.1
Pensions and other postretirement benefit plans - Narrative (Details)
$ in Thousands
 1 Months Ended 12 Months Ended 21 Months Ended
Aug. 31, 2022
USD ($)
insurer
Jul. 31, 2024
Oct. 31, 2022
Dec. 31, 2024
USD ($)
plan
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2024
USD ($)
Jan. 01, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans                
Accumulated pension benefit obligations       $ 1,500,000 $ 1,700,000      
Net periodic expense (benefit)       $ (11,400) (8,000) $ (57,100)    
Decrease in net unfunded pension obligations           99,900    
Decrease in benefit obligation due to remeasurement           $ 281,800    
Weighted average discount rate           5.05%   2.95%
Incremental decrease in plan assets           $ 381,700    
Number of multiemployer pension plans | plan       6        
Other current and non-current liabilities, withdrawal liabilities for multi-employer pension plans       $ 55,600        
Penalties amortization period       13 years 10 months 24 days        
Withdrawal liability expense       $ 24,500        
Maximum annual contributions per employee, percent       75.00%        
Compensation expense related to 401(k) contributions       $ 3,300 800 13,500    
First 4% of employee contributions                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Employer matching contribution, percent of match     100.00%          
Contributions per employee subject to employer match (as a percent)     4.00%          
Next 2% of employee contributions                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Employer matching contribution, percent of match     50.00%          
Contributions per employee subject to employer match (as a percent)     2.00%          
First 4% of employee contributions                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Employer matching contribution, percent of match   25.00%            
Contributions per employee subject to employer match (as a percent)   4.00%            
Pension benefits                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Net periodic expense (benefit)       $ (11,079) $ (7,291) (58,380)    
Weighted average discount rate       5.70% 5.10%      
Incremental decrease in plan assets       $ (5,620) $ (150,371)      
Contribution to the defined benefit plans       7,949 $ 1,441      
Other Postretirement Benefits Plan                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Contribution to the defined benefit plans       4,600        
Pension Plan and Postemployment Retirement Benefits                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Employer contributions expected to be paid during the next fiscal year       $ 6,600        
Plans in Red Zone                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Percentage of plans funded       65.00%        
Plans in Orange Zone                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Percentage of plans funded       80.00%        
Plans in Green Zone                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Percentage of plans funded       80.00%        
Gannett Retirement Plan                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Defined benefit plan required funding status             100.00%  
Expected future employer contributions, quarterly certification funding requirement             $ 1,000  
Defined benefit plan, expected future employee contributions, quarterly certification funding requirement term             60 days  
Current funding status, percentage       100.00%        
Gannett Retirement Plan | Pension benefits                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Number of insurance companies, assets used to purchase annuities | insurer 2              
Transfer of pension liability $ 450,000              
Pension settlement gain           700    
Noncash pension settlement gain, after tax           $ 500    
Multiemployer Plans                
Defined Benefit Plans and Other Postretirement Benefit Plans                
Expected funding deficiency term       6 years        
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Retirement Plans (Details) - Pension benefits - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Funded plans    
Defined Benefit Plans and Other Postretirement Benefit Plans    
Projected benefit obligation $ 1,457,351 $ 1,602,112
Accumulated benefit obligation 1,456,629 1,601,306
Fair value of plan assets 1,617,694 1,733,993
Underfunded plans    
Defined Benefit Plans and Other Postretirement Benefit Plans    
Projected benefit obligation 45,780 55,933
Accumulated benefit obligation 45,780 55,933
Fair value of plan assets $ 42,008 $ 49,905
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Pension Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Non-operating expenses:      
Total non-operating (benefit) expense $ (12,438) $ (9,382) $ (58,953)
Total (benefit) expense for retirement plans (11,400) (8,000) (57,100)
Other changes in plan assets and benefit obligations recognized in Other comprehensive income (loss):      
Net actuarial (gain) loss (10,205) (33,135) 185,282
Amortization of net actuarial (loss) gain (1,014) 305 500
Change in prior service cost 0 (3,307) 0
Amortization of prior service costs 500 502 (66)
(Gain) loss recognized in Other comprehensive income (loss) (12,275) (28,830) 180,433
Pension benefits      
Operating expenses:      
Service cost - benefits earned during the period 998 1,366 1,754
Non-operating expenses:      
Interest cost on benefit obligations 81,500 84,449 71,733
Expected return on plan assets (96,726) (95,358) (131,295)
Amortization of actuarial loss (gain) 2,926 2,185 89
Amortization of prior service costs 69 67 66
Settlement loss (gain) 35 0 (727)
Curtailment 119 0 0
Total non-operating (benefit) expense (12,077) (8,657) (60,134)
Total (benefit) expense for retirement plans (11,079) (7,291) (58,380)
Other changes in plan assets and benefit obligations recognized in Other comprehensive income (loss):      
Net actuarial (gain) loss (9,919) (33,244) 199,374
Amortization of net actuarial (loss) gain (2,926) (2,185) (89)
Change in prior service cost 0 0 0
Amortization of prior service costs (69) (67) (66)
Settlement (loss) gain (35) 0 0
Equity method investments (116) (610) 0
Other (1,405) 7,415 (5,283)
(Gain) loss recognized in Other comprehensive income (loss) (14,470) (28,691) 193,936
Postretirement benefits      
Operating expenses:      
Service cost - benefits earned during the period 35 40 77
Non-operating expenses:      
Interest cost on benefit obligations 2,120 2,334 1,770
Expected return on plan assets 0 0 0
Amortization of actuarial loss (gain) (1,912) (2,490) (589)
Amortization of prior service costs (569) (569) 0
Settlement loss (gain) 0 0 0
Curtailment 0 0 0
Total non-operating (benefit) expense (361) (725) 1,181
Total (benefit) expense for retirement plans (326) (685) 1,258
Other changes in plan assets and benefit obligations recognized in Other comprehensive income (loss):      
Net actuarial (gain) loss (286) 109 (14,092)
Amortization of net actuarial (loss) gain 1,912 2,490 589
Change in prior service cost 0 (3,307) 0
Amortization of prior service costs 569 569 0
Settlement (loss) gain 0 0 0
Equity method investments 0 0 0
Other 0 0 0
(Gain) loss recognized in Other comprehensive income (loss) $ 2,195 $ (139) $ (13,503)
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Assumptions Used to Determine Defined Benefit Plans Year-End Benefit Obligations (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans        
Weighted average discount rate     5.05% 2.95%
Pension benefits        
Defined Benefit Plans and Other Postretirement Benefit Plans        
Weighted average discount rate 5.70% 5.10%    
Rate of increase in future compensation levels 2.00% 2.00%    
Postretirement benefits        
Defined Benefit Plans and Other Postretirement Benefit Plans        
Weighted average discount rate 5.80% 5.40%    
Current year medical trend 7.50% 6.30%    
Ultimate year medical trend 4.50% 4.50%    
Year of ultimate trend 2037 2031    
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Assumptions Used to Determine Defined Benefit Plan Costs (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Weighted average discount rate 5.10% 5.40% 3.80%
Rate of increase in future compensation levels 2.00% 2.00% 2.00%
Weighted average expected return on assets 5.60% 5.70% 4.80%
Postretirement benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Weighted average discount rate 5.40% 5.70% 3.00%
Current year medical trend 6.30% 6.50% 6.00%
Ultimate year medical trend 4.50% 4.50% 4.50%
Year of ultimate trend 2031 2031 2028
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Allocation of Plan Assets (Details) - Retirement Plans
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans    
Target allocation 100.00%  
Allocation of plan assets 100.00% 100.00%
Equity securities    
Defined Benefit Plans and Other Postretirement Benefit Plans    
Target allocation 17.00%  
Allocation of plan assets 21.00% 24.00%
Debt securities    
Defined Benefit Plans and Other Postretirement Benefit Plans    
Target allocation 71.00%  
Allocation of plan assets 62.00% 57.00%
Alternative investments    
Defined Benefit Plans and Other Postretirement Benefit Plans    
Target allocation 12.00%  
Allocation of plan assets 17.00% 19.00%
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Estimated Benefit Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Pension benefits  
Defined Benefit Plans and Other Postretirement Benefit Plans  
2025 $ 134,982
2026 133,856
2027 133,474
2028 130,646
2029 128,982
Thereafter 554,288
Postretirement benefits  
Defined Benefit Plans and Other Postretirement Benefit Plans  
2025 4,815
2026 4,536
2027 4,269
2028 4,010
2029 3,764
Thereafter $ 15,549
v3.25.0.1
Pensions and other postretirement benefit plans - Schedule of Multiemployer Pension Plans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions $ 1,384 $ 1,480 $ 1,815
CWA/ITU Negotiated Pension Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions 160 255 276
GCIU—Employer Retirement Benefit Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions 46 41 42
The Newspaper Guild International Pension Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions 9 14 15
IAM National Pension Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions 118 147 177
Teamsters Pension Trust Fund of Philadelphia and Vicinity      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions 998 965 1,249
Central Pension Fund of the International Union of Operating Engineers and Participating Employers      
Defined Benefit Plans and Other Postretirement Benefit Plans      
Contributions $ 53 $ 58 $ 56
v3.25.0.1
Fair value measurement - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Hedge funds redemption period 60 days  
Hedge funds redemption potential holdback percentage 5.00%  
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Unfunded commitments related to partnership/joint venture interests $ 3.1 $ 3.3
Fair Value, Measurements, Nonrecurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Assets held for sale $ 1.5 $ 0.2
v3.25.0.1
Fair value measurement - Schedule of Fair Value of Pension Plan Assets by Level Within Fair Value Hierarchy (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets $ 1,661,378 $ 1,785,367  
Liabilities (1,676) (1,469)  
Other liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Liabilities (1,676) (1,469)  
Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 1,627,726 1,749,182  
Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 121,359 153,647  
Liabilities (1,676) (1,469)  
Level 1 | Other liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Liabilities (1,676) (1,469)  
Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 1,210,101 1,243,405  
Liabilities 0 0  
Level 2 | Other liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Liabilities 0 0  
Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 296,266 352,130 $ 361,833
Liabilities 0 0  
Level 3 | Other liabilities      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Liabilities 0 0 (2,008)
Cash and cash equivalents | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 12,684 13,423  
Cash and cash equivalents | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 10,989 11,524  
Cash and cash equivalents | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 1,695 1,899  
Cash and cash equivalents | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Corporate common stock | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 66,725 98,309  
Corporate common stock | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 66,725 98,309  
Corporate common stock | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Corporate common stock | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Corporate and government bonds | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 231,518 253,403  
Corporate and government bonds | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Corporate and government bonds | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 231,518 253,403  
Corporate and government bonds | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Real estate | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 124,790 133,503  
Real estate | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Real estate | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Real estate | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 124,790 133,503 132,593
Real estate | Instruments measured at NAV using the practical expedient:      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 8,814 9,576  
Mutual funds | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 20,430 22,764  
Mutual funds | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 20,430 22,764  
Mutual funds | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Mutual funds | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Exchange traded funds | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 23,215 21,050  
Exchange traded funds | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 23,215 21,050  
Exchange traded funds | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Exchange traded funds | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Equities | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 255,382 296,624  
Equities | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Equities | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 255,382 296,624  
Equities | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Fixed income | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 721,506 691,479  
Fixed income | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Fixed income | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 721,506 691,479  
Fixed income | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Fixed income | Instruments measured at NAV using the practical expedient:      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 23,163 23,396  
Partnership/joint venture interests | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 171,476 169,932  
Partnership/joint venture interests | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Partnership/joint venture interests | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 0 0  
Partnership/joint venture interests | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 171,476 169,932 166,184
Partnership/joint venture interests | Instruments measured at NAV using the practical expedient:      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets 1,675 3,213  
Hedge funds | Total      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets   48,695  
Hedge funds | Level 1      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets   0  
Hedge funds | Level 2      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets   0  
Hedge funds | Level 3      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Assets $ 0 $ 48,695 $ 63,054
v3.25.0.1
Fair value measurement - Schedule of Changes in Fair Value of Pension Plan Assets and Liabilities, Categorized as Level 3 (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Fair value of plan assets at beginning of period $ 1,785,367  
Fair value of plan assets at end of period 1,661,378 $ 1,785,367
Liabilities:    
Fair value of plan liabilities at beginning of year 1,469  
Fair value of plan liabilities at end of year 1,676 1,469
Other liabilities    
Liabilities:    
Fair value of plan liabilities at beginning of year 1,469  
Fair value of plan liabilities at end of year 1,676 1,469
Level 3    
Assets:    
Fair value of plan assets at beginning of period 352,130 361,833
Actual return on plan assets - Relating to assets still held at report date (12,083) 9,988
Actual return on plan assets - Relating to assets sold during the period 7 0
Purchases 39,243 30,727
Sales (30,573) (27,703)
Settlements (52,458) (22,715)
Fair value of plan assets at end of period 296,266 352,130
Liabilities:    
Fair value of plan liabilities at beginning of year 0  
Fair value of plan liabilities at end of year 0 0
Level 3 | Other liabilities    
Liabilities:    
Fair value of plan liabilities at beginning of year 0 2,008
Relating to assets still held at report date   0
Relating to assets sold/redeemed during the period   0
Purchases   0
Sales   0
Settlements   2,008
Fair value of plan liabilities at end of year 0 0
Real estate | Level 3    
Assets:    
Fair value of plan assets at beginning of period 133,503 132,593
Actual return on plan assets - Relating to assets still held at report date (2,039) 2,683
Actual return on plan assets - Relating to assets sold during the period 0 0
Purchases 0 13
Sales (6,674) (1,786)
Settlements 0 0
Fair value of plan assets at end of period 124,790 133,503
Partnership/joint venture interests | Level 3    
Assets:    
Fair value of plan assets at beginning of period 169,932 166,184
Actual return on plan assets - Relating to assets still held at report date (10,044) 4,164
Actual return on plan assets - Relating to assets sold during the period 0 0
Purchases 39,243 30,714
Sales (23,899) (25,917)
Settlements (3,756) (5,213)
Fair value of plan assets at end of period 171,476 169,932
Hedge funds | Level 3    
Assets:    
Fair value of plan assets at beginning of period 48,695 63,054
Actual return on plan assets - Relating to assets still held at report date 0 3,141
Actual return on plan assets - Relating to assets sold during the period 7 0
Purchases 0 0
Sales 0 0
Settlements (48,702) (17,500)
Fair value of plan assets at end of period 0 48,695
Other assets | Level 3    
Assets:    
Fair value of plan assets at beginning of period $ 0 2
Actual return on plan assets - Relating to assets still held at report date   0
Actual return on plan assets - Relating to assets sold during the period   0
Purchases   0
Sales   0
Settlements   (2)
Fair value of plan assets at end of period   $ 0
v3.25.0.1
Income taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic $ (128,806) $ (55,073) $ (121,840)
Foreign 51,133 48,908 44,934
Loss before income taxes $ (77,673) $ (6,165) $ (76,906)
v3.25.0.1
Income taxes - Schedule of Provision (Benefit) for Income Taxes on Income from Continuing Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ (15,979) $ (311) $ (3,579)
State and local 1,780 1,705 804
Foreign 7,671 8,821 1,575
Total current (6,528) 10,215 (1,200)
Deferred:      
Federal (38,805) 6,436 (692)
State and local (2,493) 399 (5,868)
Foreign (3,460) 4,679 9,109
Total deferred (44,758) 11,514 2,549
(Benefit) provision for income taxes $ (51,286) $ 21,729 $ 1,349
v3.25.0.1
Income taxes - Schedule of Reconciliation of Effective Tax Rate (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Federal statutory tax rate 21.00% 21.00% 21.00%
(Increase) decrease in taxes resulting from:      
State and local income taxes, net of federal benefit (0.50%) 3.60% 6.00%
Debt refinancing 37.80% 0.00% 0.00%
Change in valuation allowance (0.20%) (130.00%) (30.90%)
Foreign tax rates differences (1.00%) (9.20%) 0.40%
Non-deductible parking (0.10%) (2.50%) (0.20%)
Non-deductible meals, entertainment (1.00%) (12.80%) (0.90%)
(Loss) gain on foreign exchange rate (0.60%) 2.40% 0.40%
Stock compensation shortfall (1.20%) (24.20%) (0.20%)
Partnership permanent differences (0.10%) (2.00%) (0.10%)
Tegna indemnification release 0.00% (2.80%) (0.70%)
Foreign entities loss adjustments (1.40%) (1.30%) (1.60%)
Newsquest permanent differences (0.70%) (7.60%) (0.10%)
Nondeductible compensation (1.00%) (13.40%) (2.30%)
Provision to return and deferred tax adjustments 5.20% (45.10%) 5.40%
Global intangible low-taxed income (10.00%) (112.70%) (4.60%)
Branch income 1.20% 5.40% 1.20%
Profit on non-qualifying land and buildings 0.20% 0.20% 0.10%
Uncertain tax positions 19.00% (134.50%) (2.60%)
Deduction for interest expense 0.00% 102.70% 8.50%
Impact of non-deductible goodwill (0.50%) 0.00% 0.00%
Other expenses (0.10%) 10.30% (0.60%)
Effective tax rate 66.00% 0.00% (1.80%)
v3.25.0.1
Income taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Effective tax rate (as a percent) 66.00% 0.00% (1.80%)
Deferred tax asset valuation allowance, increase (decrease) $ (7.4) $ 12.0  
Operating loss carryforwards 396.2    
Disallowed business interest expense carryforwards 500.9    
State net operating loss carryforwards 1,058.0    
Foreign net operating loss carryforwards 184.7    
General business tax credit 6.2    
Foreign tax credits 0.2    
State credits 4.7    
Uncertain tax positions 41.7    
Release of uncertain tax position reserves (11.3)    
Interest and penalties related to an IRS audit 4.8    
Unrecognized tax benefits, accrued interest and penalties 0.1 $ 4.6  
U.S Disallowed Interest Expense Carryforward      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Deferred tax asset valuation allowance, increase (decrease) 6.1    
Foreign Valuation Allowances      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Deferred tax asset valuation allowance, increase (decrease) (10.9)    
Currency Translation Adjustment      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Deferred tax asset valuation allowance, increase (decrease) 0.6    
Other      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Deferred tax asset valuation allowance, increase (decrease) (3.2)    
Foreign Tax Jurisdiction      
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Foreign capital loss carry forwards $ 43.2    
v3.25.0.1
Income taxes - Schedule of Deferred Tax Liabilities and Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Fixed assets $ 4,474 $ 0
Accrued compensation costs 13,167 12,900
Accrued liabilities 17,787 14,676
Disallowed interest 121,110 115,030
Goodwill 162 3,200
Capitalized research and development costs 11,572 9,743
Partnership investments 4,961 4,231
Loss carryforwards 203,602 224,505
Lease liabilities 50,826 58,828
Other 15,130 17,257
Total deferred tax assets 442,791 460,370
Less: Valuation allowances (304,673) (312,038)
Total net deferred tax assets 138,118 148,332
Deferred tax liabilities:    
Fixed assets 0 (5,565)
Right of use asset (43,157) (60,384)
Convertible debt (22,472) (18,441)
Pension and other postretirement benefit obligations (9,380) (8,388)
Definite and indefinite lived intangible assets (7,054) (20,457)
Total deferred tax liabilities (82,063) (113,235)
Net deferred tax assets $ 56,055 $ 35,097
v3.25.0.1
Income taxes - Schedule of Valuation Allowance (Details) - Valuation Allowance of Deferred Tax Assets
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves  
Balance at beginning of period $ 312,037
Additions/(reductions) charged to expenses (7,985)
Additions/(reductions) for acquisitions/dispositions 0
Other additions to (deductions from) reserves 0
Foreign currency translation 620
Balance at end of period $ 304,672
v3.25.0.1
Income taxes - Schedule of Activity Related to Unrecognized Tax Benefits, Excluding Federal Tax Benefit of State Tax Deductions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits      
Balance at beginning of year $ 52,821 $ 43,697 $ 46,082
Additions based on tax positions related to the current year 837 7,017 5,411
Additions for tax positions of prior years 8 1,327 0
Reductions for tax positions of prior years (11,261) (652) (2,664)
Reductions due to lapsed statutes of limitations (137) (208) (2,264)
Foreign currency translation (541)   (2,868)
Foreign currency translation   1,640  
Balance at end of year $ 41,727 $ 52,821 $ 43,697
v3.25.0.1
Supplemental equity and other information - Schedule of Earnings (Loss) Per Share (Basic And Diluted) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Equity [Abstract]      
Net loss attributable to Gannett $ (26,354) $ (27,791) $ (78,002)
Basic weighted average shares outstanding (in shares) 142,516 139,633 136,903
Diluted weighted average shares outstanding (in shares) 142,516 139,633 136,903
Loss per share attributable to Gannett - basic (in dollars per share) $ (0.18) $ (0.20) $ (0.57)
Loss per share attributable to Gannett - diluted (in dollars per share) $ (0.18) $ (0.20) $ (0.57)
v3.25.0.1
Supplemental equity and other information - Schedule of Securities From Computation of Diluted Income Per Share (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Convertible debt | 2027 Notes      
Share-based Compensation Arrangement by Share-based Payment Award      
Computation of diluted income per share (in shares) 7,612 97,057 97,057
Convertible debt | 2031 Notes      
Share-based Compensation Arrangement by Share-based Payment Award      
Computation of diluted income per share (in shares) 44,745 0 0
Restricted stock grants      
Share-based Compensation Arrangement by Share-based Payment Award      
Computation of diluted income per share (in shares) 7,267 8,608 8,616
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award      
Computation of diluted income per share (in shares) 5,416 6,068 6,068
Warrants      
Share-based Compensation Arrangement by Share-based Payment Award      
Computation of diluted income per share (in shares) 0 0 845
v3.25.0.1
Supplemental equity and other information - Narrative (Details)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
shares
$ / shares
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Stockholders Equity Note      
Share-based compensation cost | $ $ 12.5 $ 16.6 $ 16.8
Unrecognized compensation cost related to non-vested share-based compensation | $ $ 15.1    
Unrecognized compensation recognition period 2 years 1 month 6 days    
Number of stock options (in shares) | shares 5,416    
Weighted average grant date fair value (in dollars per shares) | $ / shares $ 1.51    
Weighted average exercise price (in dollars per share) | $ / shares $ 14.45    
Remaining contractual term (in years) 3 years 7 months 6 days    
2027 Notes | Convertible Debt      
Stockholders Equity Note      
Aggregate shares receivable upon conversion (shares) | shares 22,500    
Securities excluded from computation of earnings per share (in shares) | shares 14,900    
2031 Notes | Convertible Debt      
Stockholders Equity Note      
Aggregate shares receivable upon conversion (shares) | shares 143,900    
Securities excluded from computation of earnings per share (in shares) | shares 99,100    
RSA      
Stockholders Equity Note      
Vesting period (years) 3 years    
Aggregate intrinsic value of unvested | $ $ 21.1    
RSA | Share-Based Payment Arrangement, Tranche One      
Stockholders Equity Note      
Vesting, percentage 33.30%    
RSA | Share-Based Payment Arrangement, Tranche Two      
Stockholders Equity Note      
Vesting, percentage 33.30%    
RSA | Share-Based Payment Arrangement, Tranche Three      
Stockholders Equity Note      
Vesting, percentage 33.40%    
RSUs      
Stockholders Equity Note      
Vesting period (years) 3 years    
Performance Stock Units (PSUs) and Restricted Stock Units (RSUs)      
Stockholders Equity Note      
Aggregate intrinsic value of unvested | $ $ 15.8    
CPU's and LTCA's      
Stockholders Equity Note      
Vesting period (years) 3 years    
Unrecognized compensation expense | $ $ 14.3    
v3.25.0.1
Supplemental equity and other information - Schedule of RSA's, RSU's and PSU's (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
RSA      
Unvested Shares      
Unvested at beginning of year (in shares) 8,456,000 8,616,000 6,949,000
Granted (in shares) 272,000 5,171,000 7,427,000
Vested (in shares) (4,024,000) (3,910,000) (2,633,000)
Forfeited (in shares) (543,000) (1,421,000) (3,127,000)
Unvested at end of year (in shares) 4,161,000 8,456,000 8,616,000
Weighted- average grant date fair value      
Unvested at beginning (in dollars per shares) $ 3.09 $ 4.40 $ 4.32
Granted (in dollars per share) 4.04 1.87 4.29
Vested (in dollars per shares) 3.57 4.11 4.63
Forfeited (in dollars per share) 3.01 3.68 3.75
Unvested at end of year (in dollars per shares) $ 2.71 $ 3.09 $ 4.40
Performance Stock Units (PSUs) and Restricted Stock Units (RSUs)      
Unvested Shares      
Unvested at beginning of year (in shares) 181,000 1,000,000 2,905,000
Granted (in shares) 3,074,000 332,000 332,000
Vested (in shares) 0 (152,000) (1,905,000)
Forfeited (in shares) (141,000) (999,000) (332,000)
Unvested at end of year (in shares) 3,114,000 181,000 1,000,000
Weighted- average grant date fair value      
Unvested at beginning (in dollars per shares) $ 1.83 $ 3.04 $ 4.05
Granted (in dollars per share) 4.15 1.83 4.63
Vested (in dollars per shares) 0 3.04 4.58
Forfeited (in dollars per share) 2.44 2.85 4.63
Unvested at end of year (in dollars per shares) $ 4.10 $ 1.83 $ 3.04
Shares cancelled in period (in shares) 15,000 900,000 332,000
RSUs      
Unvested Shares      
Granted (in shares)   0 0
v3.25.0.1
Supplemental equity and other information - Preferred Stock Narrative (Details) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Equity [Abstract]    
Preferred stock authorized (in shares) 300,000 300,000
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, outstanding (in shares) 0 0
Preferred stock, issued (in shares) 0 0
v3.25.0.1
Supplemental equity and other information - Stock Repurchase Program (Details) - Stock Repurchase Program - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Feb. 01, 2022
Class of Stock    
Shares authorized for repurchase, value   $ 100.0
Repurchase of common stock (in shares) 0  
Remaining authorized shares for share repurchase program $ 96.9  
v3.25.0.1
Supplemental equity and other information - Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax      
Beginning Balance $ 317,785    
Other comprehensive income (loss) before reclassifications 8,967 $ 36,322 $ (160,360)
Amounts reclassified from accumulated other comprehensive income (loss) 410 (632) (869)
Current period other comprehensive income (loss), net of taxes 9,377 35,690 (161,229)
Ending Balance 153,139 317,785  
Amounts reclassified from accumulated other comprehensive income (loss) (100) 200 300
Gannett Retirement Plan | Pension benefits      
Accumulated Other Comprehensive Income (Loss), Net of Tax      
Amount reclassified from accumulated other comprehensive income (loss), net pension settlement gain     700
Noncash pension settlement gain, after tax     500
Total      
Accumulated Other Comprehensive Income (Loss), Net of Tax      
Beginning Balance (65,541) (101,231) 59,998
Ending Balance (56,164) (65,541) (101,231)
Pension and postretirement benefit plans      
Accumulated Other Comprehensive Income (Loss), Net of Tax      
Beginning Balance (64,344) (86,351) 50,870
Other comprehensive income (loss) before reclassifications 8,981 22,639 (136,352)
Amounts reclassified from accumulated other comprehensive income (loss) 410 (632) (869)
Current period other comprehensive income (loss), net of taxes 9,391 22,007 (137,221)
Ending Balance (54,953) (64,344) (86,351)
Foreign currency translation      
Accumulated Other Comprehensive Income (Loss), Net of Tax      
Beginning Balance (1,197) (14,880) 9,128
Other comprehensive income (loss) before reclassifications (14) 13,683 (24,008)
Amounts reclassified from accumulated other comprehensive income (loss) 0 0 0
Current period other comprehensive income (loss), net of taxes (14) 13,683 (24,008)
Ending Balance $ (1,211) $ (1,197) $ (14,880)
v3.25.0.1
Commitments, contingencies and other matters (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Feb. 29, 2024
Dec. 31, 2024
Dec. 31, 2023
Commitments and Contingencies Disclosure      
Purchase commitments under contract   $ 166.5  
Self insurance liabilities   $ 39.0 $ 43.1
Scott O. Sapulpa v. Gannett Co., Inc. | Compensatory Damages      
Commitments and Contingencies Disclosure      
Damages awarded $ 5.0    
Scott O. Sapulpa v. Gannett Co., Inc. | Punitive Damages      
Commitments and Contingencies Disclosure      
Damages awarded $ 20.0    
v3.25.0.1
Segment reporting - Schedule of Reconciliation of EBITDA to Operating Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information      
Total revenues $ 2,509,315 $ 2,663,550 $ 2,945,303
Payroll 827,538 843,612 957,880
Benefits 125,987 131,584 175,825
Newsprint and ink 78,020 113,111 144,116
Distribution 288,824 337,078 385,300
Outside services 339,267 351,682 378,713
Digital cost of goods sold 483,734 482,580 465,353
Other 244,575 286,680 324,289
Adjusted EBITDA 273,189 267,683 257,283
Net loss attributable to noncontrolling interests 33 103 253
Interest expense 104,697 111,776 108,366
Gain on early extinguishment of debt (55,559) (4,529) (399)
Non-operating pension income (12,438) (9,382) (58,953)
Depreciation and amortization 156,287 162,622 182,022
Integration and reorganization costs 66,155 24,468 87,974
Third-party debt expenses and acquisition costs 10,932 1,550 1,892
Asset impairments 46,589 1,370 1,056
Loss (gain) on sale or disposal of assets, net 1,106 (40,101) (6,883)
Share-based compensation expense 12,522 16,567 16,751
Other non-operating income, net (1,317) (3,050) (2,286)
Non-recurring items 21,855 12,454 4,396
Loss before income taxes (77,673) (6,165) (76,906)
Provision (benefit) for income taxes (51,286) 21,729 1,349
Net loss (26,387) (27,894) (78,255)
Net loss attributable to noncontrolling interests (33) (103) (253)
Net loss attributable to Gannett (26,354) (27,791) (78,002)
Operating Segments | Domestic Gannett Media      
Segment Reporting Information      
Total revenues 1,938,398 2,095,853 2,379,806
Payroll 530,120 548,253 641,747
Benefits 96,329 100,434 135,882
Newsprint and ink 67,833 99,760 129,077
Distribution 276,069 323,749 370,594
Outside services 176,643 195,937 223,365
Digital cost of goods sold 176,959 180,876 176,986
Other 412,024 452,203 494,507
Adjusted EBITDA 202,421 194,641 207,648
Operating Segments | Newsquest      
Segment Reporting Information      
Total revenues 239,273 233,980 234,630
Payroll 96,526 93,492 96,853
Benefits 4,075 4,002 4,887
Newsprint and ink 10,187 13,351 15,039
Distribution 12,755 13,325 14,697
Outside services 10,396 10,046 11,061
Digital cost of goods sold 9,175 9,876 9,658
Other 42,750 39,760 42,408
Adjusted EBITDA 53,409 50,128 40,027
Operating Segments | Digital Marketing Solutions      
Segment Reporting Information      
Total revenues 477,807 477,909 468,883
Payroll 102,641 99,942 93,802
Benefits 12,752 11,852 13,698
Newsprint and ink 0 0 0
Distribution 0 2 0
Outside services 10,543 8,319 10,016
Digital cost of goods sold 295,548 289,878 278,573
Other 12,645 14,693 15,214
Adjusted EBITDA 43,678 53,223 57,580
Corporate and other      
Segment Reporting Information      
Total revenues 5,656 6,268 5,440
Payroll 98,251 101,925 125,478
Benefits 12,831 15,296 21,358
Newsprint and ink 0 0 0
Distribution 0 2 9
Outside services 141,685 137,380 134,271
Digital cost of goods sold 2,052 1,950 136
Other (222,844) (219,976) (227,840)
Adjusted EBITDA (26,319) (30,309) (47,972)
Elimination of intersegment revenues      
Segment Reporting Information      
Total revenues (151,819) (150,460) (143,456)
Elimination of intersegment expenses (151,819) (150,460) (143,456)
Operating Segments And Corporate NonSegment      
Segment Reporting Information      
Total revenues $ 2,661,134 $ 2,814,010 $ 3,088,759