MCLEAN, Va.--(BUSINESS WIRE)--Dec. 12, 2008--Gannett Co., Inc. (NYSE:GCI) today announced the expiration and final
results of its previously announced cash tender offer to purchase any
and all of its outstanding Floating Rate Notes Due 2009 (CUSIP No.
364725AF8) (the "Securities"). The tender offer was made pursuant to an
Offer to Purchase dated December 4, 2008 and the related Letter of
Transmittal, which set forth the terms of the tender offer.
The tender offer expired at 5:00 p.m., New York City time, on December
11, 2008. $98,430,000 in aggregate principal amount of Securities,
representing approximately 13.5 percent of the outstanding Securities,
were validly tendered (and not validly withdrawn) in the tender offer.
The Company has accepted all such Securities for payment and will pay
the full tender offer consideration, plus accrued interest, on the
settlement date pursuant to the terms of the tender offer. The
Securities will be purchased utilizing borrowings under the Company's
existing credit facilities.
Citi served as the dealer manager and Global Bondholder Services
Corporation served as the information agent for the tender offer.
Prior to the tender offer, the Company had repurchased $19,365,000 in
principal amount of the Securities in a privately negotiated transaction
so that following the tender offer there will be a total of $632,205,000
in principal amount of the Securities outstanding.
Gannett Co., Inc. is a leading international news and information
company that publishes 85 daily newspapers in the USA, including USA
TODAY, the nation's largest-selling daily newspaper. The company also
owns nearly 900 non-daily publications in the USA and USA WEEKEND, a
weekly newspaper magazine. Gannett subsidiary Newsquest is the United
Kingdom's second largest regional newspaper company. Newsquest publishes
17 daily paid-for titles, approximately 300 weekly newspapers, magazines
and trade publications, and a network of award-winning Web sites.
Gannett also operates 23 television stations in the United States and is
an Internet leader with sites sponsored by its TV stations and
newspapers including USATODAY.com, one of the most popular news sites on
CONTACT: Gannett Co., Inc.
For investor inquiries, contact:
Director, Investor Relations
For media inquiries, contact:
Vice President of Corporate Communications
Source: Gannett Co., Inc.