Fair value measurement (Tables)

12 Months Ended

Dec. 31, 2024

The following table sets forth by level, within the fair value hierarchy, the fair values of assets related to the following

pension plans: the (i) GR Plan, (ii) Gannett CUE Plan, (iii) U.K. Pension Plan, (iv) Detroit Plan (v) GWP Plan, and (vi) TPC

Plan as of December 31, 2024:


Pension Plan Assets and Liabilities as of December 31, 2024
In thousands	Level 1	Level 2	Level 3	Total
Assets:
Cash and cash equivalents	$10,989	$1,695	$—	$12,684
Corporate common stock	66,725	—	—	66,725
Corporate and government bonds	—	231,518	—	231,518
Real estate	—	—	124,790	124,790
Mutual funds	20,430	—	—	20,430
Exchange traded funds	23,215	—	—	23,215
Interest in common/collective trusts:
Equities	—	255,382	—	255,382
Fixed income	—	721,506	—	721,506
Partnership/joint venture interests	—	—	171,476	171,476
Total plan assets at fair value excluding those measured at NAV	$121,359	$1,210,101	$296,266	$1,627,726
Instruments measured at NAV using the practical expedient:
Real estate funds				8,814
Interest in common/collective trusts - fixed income				23,163
Partnerships/joint ventures				1,675
Total plan assets at fair value				$1,661,378
Liabilities:
Other liabilities	$(1,676)	$—	$—	$(1,676)
Total plan liabilities at fair value	$(1,676)	$—	$—	$(1,676)

The following table sets forth by level, within the fair value hierarchy, the fair values of assets and liabilities related to the

following pension plans: the (i) GR Plan, (ii) U.K. Pension Plan, (iii) Detroit Plan (iv) GWP Plan, and (v) TPC Plan as of

December 31, 2023:


Pension Plan Assets and Liabilities as of December 31, 2023
In thousands	Level 1	Level 2	Level 3	Total
Assets:
Cash and cash equivalents	$11,524	$1,899	$—	$13,423
Corporate common stock	98,309	—	—	98,309
Corporate and government bonds	—	253,403	—	253,403
Real estate	—	—	133,503	133,503
Mutual funds	22,764	—	—	22,764
Exchange traded funds	21,050	—	—	21,050
Interest in common/collective trusts:
Equities	—	296,624	—	296,624
Fixed income	—	691,479	—	691,479
Partnership/joint venture interests	—	—	169,932	169,932
Hedge funds	—	—	48,695	48,695
Total plan assets at fair value, excluding those measured at NAV	$153,647	$1,243,405	$352,130	$1,749,182
Assets measured at NAV using the practical expedient:
Real estate funds				9,576
Interest in common/collective trusts - fixed income				23,396
Partnership/joint venture interests				3,213
Total plan assets at fair value				$1,785,367
Liabilities:
Other liabilities	$(1,469)	$—	$—	$(1,469)
Total plan liabilities at fair value	$(1,469)	$—	$—	$(1,469)

The following table sets forth a summary of changes in the fair value of the Level 3 pension plan assets for the year ended

December 31, 2024:


		Actual return on plan assets
In thousands	Balance at beginning of year	Relating to assets still held at report date	Relating to assets sold/ redeemed during the period	Purchases	Sales	Settlements	Balance at end of year
Assets:
Real estate	$133,503	$(2,039)	$—	$—	$(6,674)	$—	$124,790
Partnership/joint venture interests	169,932	(10,044)	—	39,243	(23,899)	(3,756)	171,476
Hedge funds	48,695	—	7	—	—	(48,702)	—
Total assets	$352,130	$(12,083)	$7	$39,243	$(30,573)	$(52,458)	$296,266

The following table sets forth a summary of changes in the fair value of the Level 3 pension plan assets and liabilities for

the year ended December 31, 2023:


		Actual return on plan assets
In thousands	Balance at beginning of year	Relating to assets still held at report date	Relating to assets sold during the period	Purchases	Sales	Settlements	Balance at end of year
Assets:
Real estate	$132,593	$2,683	$—	$13	$(1,786)	$—	$133,503
Partnership/joint venture interests	166,184	4,164	—	30,714	(25,917)	(5,213)	169,932
Hedge funds	63,054	3,141	—	—	—	(17,500)	48,695
Other assets	2	—	—	—	—	(2)	—
Total assets	$361,833	$9,988	$—	$30,727	$(27,703)	$(22,715)	$352,130
Liabilities:
Other liabilities	$2,008	$—	$—	$—	$—	$(2,008)	$—