USA TODAY Co. (GCI) Company Report

GCI's revenue declined 2% to $257 million in the third quarter of 2025, with an operating loss of $488 million primarily due to a $525 million non-cash impairment charge related to intangible assets and goodwill. Adjusted OIBDA declined 8% to $92 million.
GCI Consumer revenue decreased 4%, while GCI Business revenue was flat year-over-year. The company has exited its video business as of September 30, 2025, completing its transition to a pure-play broadband connectivity provider.
Over the trailing twelve months ended September 30, 2025, GCI generated net cash provided by operating activities of $357 million and free cash flow of $155 million. Net capital expenditures for the full year 2025 are expected to be between $225 million and $250 million.
GCI Liberty announced a plan to launch a $300 million rights offering to all stockholders and was provisionally awarded over $140 million in BEAD grants.

Nov 5, 2025, 1:15 PM

Press Release

Gannett Co. Rebrands as USA TODAY Co.

GCI

New Projects/Investments

Gannett Co., Inc. is officially rebranding as USA TODAY Co., Inc., effective November 18, and will adopt the ticker symbol "TDAY" on the New York Stock Exchange.
This rebranding signifies the company's strategic shift from a traditional newspaper publisher to a leading digital media platform, leveraging the strong brand recognition of its flagship publication, USA TODAY.
The company's digital audience now includes over 181 million unique monthly visitors, and it operates three main segments: Domestic Gannett Media, Newsquest (UK media company), and Digital Marketing Solutions.
CEO Mike Reed emphasized that the new identity unifies their commitment to delivering factual news and aligns with their focus on media and digital marketing solutions, addressing prior investor unfamiliarity with the Gannett brand.

Nov 4, 2025, 9:14 PM

Morningstar

Gannett Announces Q3 2025 Results and Updates Fiscal Year Outlook

GCI

Earnings

Guidance Update

Demand Weakening

Gannett reported total revenues of $560.8 million and a net loss attributable to Gannett of $39.2 million for Q3 2025.
Total digital revenues reached $262.7 million, accounting for 47% of total company revenues in Q3 2025, with digital advertising revenues growing 2.9% year-over-year.
The company achieved a total debt paydown of $18.5 million in Q3 2025, bringing the total debt outstanding to $996.4 million at September 30, 2025.
Key operational metrics include 187 million average monthly unique visitors and a digital-only ARPU of $8.80, which increased 8% year-over-year.
Gannett updated its Fiscal Year 2025 outlook, anticipating growth in Total Adjusted EBITDA and Free Cash Flow of 30% versus the prior year.

Oct 30, 2025, 12:30 PM

Presentation

Gannett Co. Reports Q3 2025 Results, Debt Below $1 Billion, and Google Lawsuit Update

GCI

Earnings

Guidance Update

Legal Proceedings

Gannett Co. reported Q3 2025 total revenues of $560.8 million, an 8.4% decrease year-over-year, and adjusted EBITDA of $57.2 million.
The company reached a significant milestone, with total debt falling below $1 billion for the first time since its 2019 merger.
Digital revenues accounted for 47% of total company revenue, totaling $262.7 million, with digital advertising revenues increasing 2.9% and digital-only ARPU reaching a record high of $8.80.
Gannett anticipates notable improvement in Q4 revenue and robust year-over-year growth in adjusted EBITDA, driven by a timing shift of large digital client spend, the full benefit of a $100 million cost reduction program, and new AI licensing deals.
A partial summary judgment ruling in its lawsuit against Google established liability on certain claims, shifting the case's focus to damages. The company also blocked 75 million AI bots in September, with 70 million from OpenAI, for attempting to scrape content.

Oct 30, 2025, 12:30 PM

Transcript

Gannett Announces Q3 2025 Results, New AI Deal, and Updated Outlook

GCI

Earnings

Guidance Update

New Projects/Investments

Gannett reported total revenues of $560.8 million for Q3 2025, an 8.4% decrease year-over-year, and a net loss attributable to Gannett of $39.2 million.
The company announced a new AI licensing agreement with Microsoft and noted a partial summary judgment ruling in its lawsuit against Google establishing liability on several claims.
Total principal debt outstanding decreased to $996.4 million as of September 30, 2025, falling below $1.0 billion.
For the full year 2025, Gannett expects Total Adjusted EBITDA to grow and cash provided by operating activities and Free cash flow to grow in excess of 30% versus the prior year.

Oct 30, 2025, 12:04 PM

8-K

Gannett Announces Third Quarter 2025 Results and Updated Business Outlook

GCI

Earnings

Guidance Update

Legal Proceedings

Gannett reported total revenues of $560.8 million and a net loss attributable to Gannett of $39.2 million for the third quarter ended September 30, 2025.
The company announced a new AI licensing agreement with Microsoft and achieved a partial summary judgment ruling in its lawsuit against Google.
Total principal debt outstanding fell below $1.0 billion, reaching $996.4 million as of September 30, 2025.
For the full year 2025, Gannett updated its outlook, expecting Total Adjusted EBITDA to grow and cash provided by operating activities and free cash flow to grow in excess of 30% versus the prior year.

Oct 30, 2025, 12:00 PM

Press Release

Gannett Announces Second Quarter 2025 Results and Updated Business Outlook

GCI

Earnings

Guidance Update

Demand Weakening

Gannett reported Q2 2025 results, with total revenues of $584.9 million, an 8.6% year-over-year decrease, and net income attributable to Gannett of $78.4 million. Total Adjusted EBITDA was $64.2 million, with an 11.0% margin.
The company is implementing a $100 million targeted annualized expense reduction program to create a lower and more variable cost structure.
Gannett updated its full year 2025 outlook, expecting Total Adjusted EBITDA and cash provided by operating activities to grow versus the prior year, and free cash flow to grow in excess of 30%.
Debt repayment remains a high priority, with $23.4 million repaid in Q2 2025, totaling approximately $100 million in the first half of 2025, and an expectation to repay over $135 million by year-end 2025.

Jul 31, 2025, 12:00 PM

Press Release

Gannett Q1 2025 Earnings: Digital Growth, Debt Reduction & Updated Guidance

GCI

Earnings

Guidance Update

Revenue Acceleration/Inflection

CFO Change

Debt Reduction

Gannett posted Q1 2025 total revenues of $571.6M with a net loss of $7.3M and free cash flow of $10.2M (7.6% YoY increase), marking significant bottom‐line improvement.
The company reaffirmed its full‐year 2025 guidance with expectations for continued digital revenue growth, improved operating margins, and strengthened DMS performance, alongside strategic leadership changes including a new CFO.
Adjusted EBITDA reached $50.5M (8.8% margin) supported by an 18.1% drop in operating expenses, contributing to net loss improvement versus last year.
Digital revenues totaled $250.4M (44% of total) despite a 6.4% decline from unusual revenue reversals, bolstered by robust performance with 195M unique visitors.
Operating revenues were reported at $571.6M, reflecting a 10.1% decline influenced by the sale of the Austin American-Statesman and other one-time items.
The company achieved significant debt reduction by repaying approximately $75M through asset sales, cash flow, and scheduled amortization, reinforcing its capital structure.

May 1, 2025, 12:31 PM

Transcript Presentation 8-K

Gannett Appoints Trisha Gosser as CFO

GCI

CFO Change

Management Change

Executive Compensation

Trisha Gosser has been appointed as Chief Financial Officer of Gannett Co., Inc. effective March 18, 2025, taking on responsibility for financial planning, investor relations, and compliance reporting.
Gosser brings over 20 years of financial experience and has held key roles at Gannett since 2007, including serving as Deputy CFO.