Gannett | USA Today Network

News Summary:

Gannett reported strong first-quarter 2026 results on May 2, citing improving revenue trends, rising digital contributions, and sharply higher profitability. Total revenues reached $548.5 million, a 4% year-over-year decline, or 1.8% on a same-store basis. Digital revenues achieved an all-time high, comprising 47.8% of total revenue, up 5.2% on a same-store basis to $261.9 million. Adjusted EBITDA rose 44.7% to $73.1 million, expanding the margin to 13.3%, while net income increased 371.3% to $19.9 million. This performance was driven by a $100 million cost program, resulting in first-lien net leverage falling to 2.3x. Management highlighted margin expansion, improving leverage, and fast-growing AI and licensing income as signs of a gaining turnaround. Previously, on April 23, Gannett reported that backroom budget deals in New York were drawing rare pushback from insiders, including top Democrats, who questioned a system that largely excludes lawmakers, media, and the public. Assembly Speaker Carl Heastie warned the process granted excessive control to the governor. Earlier, on April 21, Gannett sold the former Courier-Post printing plant in Cherry Hill, New Jersey, which once employed hundreds, for $8.4 million to C. World Bell Wholesale Co. On the same day, USA Today Co. Inc. issued its 2026 Notice of Annual Meeting of Stockholders and Proxy Statement, dated April 17, 2026.