MCLEAN, Va.--(BUSINESS WIRE)--May. 6, 2009--
Gannett Co., Inc. (NYSE:GCI) today announced the expiration and results
of its private exchange offer for its 5.75% Notes due 2011 (the “2011
notes”) (CUSIP No. 364725AE1) and its 6.375% Notes due 2012 (the “2012
notes”) (CUSIP No. 364725AC5) (collectively, the “Old Notes”). The
expiration date for the exchange offer occurred at 5:00 p.m., New York
City time, on May 5, 2009. The settlement date of the exchange offer is
expected to occur on May 7, 2009.
According to Global Bondholder Services Corporation, the depositary for
the exchange offer, the Company received valid tenders from holders of
approximately $67 million aggregate principal amount of 2011 notes and
approximately $193 million aggregate principal amount of 2012 notes.
“We are very pleased with the results of the exchange offer. As a result
of this opportunistic transaction, more than 25% of our outstanding
bonds (exclusive of the May 2009 maturity) will have a maturity date
extending into 2015 or 2016,” said Gracia C. Martore, executive vice
president and chief financial officer.
This press release is neither an offer to purchase nor a solicitation of
an offer to sell the Old Notes or any other securities.
Gannett is an international news and information company operating on
multiple platforms including the Internet, mobile, newspapers, magazines
and TV stations. Gannett is an Internet leader with hundreds of
newspaper and TV Web sites; CareerBuilder.com, the nation’s top
employment site; USATODAY.com; and more than 80 local MomsLikeMe.com
sites. Gannett publishes 85 daily U.S. newspapers, including USA TODAY,
the nation’s largest-selling daily newspaper, and more than 850
magazines and other non-dailies including USA WEEKEND. Gannett also
operates 23 television stations in 19 U.S. markets. Gannett subsidiary
Newsquest is the United Kingdom’s second largest regional newspaper
company with 17 daily paid-for titles, more than 200 weekly newspapers,
magazines and trade publications and a network of Web sites.
Source: Gannett Co., Inc.
Gannett Co., Inc.
Director, Investor Relations