Gannett cuts first lien debt by $22.3M using real estate sale proceeds; expects $120M reduction in 2023

USA TODAY Co., Inc.

Used $21.3M from January real estate sales to reduce first lien debt by $22.3M.
Repurchased $6.1M of 6.00% senior notes due 2026 at a discount; repaid $16.3M on term loan.
Expects $50M-$60M in additional asset sales in 2023 to further pay down debt.
Targets approximately $120M total debt reduction for the year via asset sales and amortization.

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