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Segment reporting | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment reporting | NOTE 12 — Segment reporting We define our reportable segments based on the way the Chief Operating Decision Maker ("CODM"), which is our Chief Executive Officer, manages the operations for purposes of allocating resources and assessing segment performance. Our reportable segments include the following: •Domestic Gannett Media is comprised of our portfolio of domestic local, regional, and national newspaper publishers. The results of this segment include Digital revenues mainly derived from digital advertising offerings such as digital marketing services delivered by our DMS segment, digital distribution of our publications and digital content syndication and affiliate and partnership revenues as well as classified advertisements and display advertisements run on our platforms as well as third-party sites, and Print and commercial revenues mainly derived from the sale of local, national, and classified print advertising products, the sale of both home delivery and single copies of our publications, as well as commercial printing and distribution arrangements, and revenues from our events business. •Newsquest is comprised of our portfolio of newspaper publishers in the U.K. The results of this segment include Digital revenues mainly derived from digital advertising offerings such as digital marketing services delivered by our DMS segment, digital distribution of our publications and digital content syndication revenues as well as classified advertisements and display advertisements run on our platforms and third-party sites, and Print and commercial revenues mainly derived from the sale of local, classified, and national advertising as well as niche publications, the sale of both home delivery and single copies of our publications, as well as commercial printing. •Digital Marketing Solutions is comprised of our digital marketing services companies under the brand LocaliQ. The results of this segment include Digital revenues derived from digital marketing services generated through multiple services, including search advertising, display advertising, search optimization, social media, website development, web presence products, customer relationship management, and software-as-a-service solutions. In addition to the reportable segments above, we have a Corporate category that includes activities not directly attributable to a specific reportable segment and includes expenses associated with broad corporate functions. In the ordinary course of business, our reportable segments enter into transactions with one another. While intersegment transactions are treated like third-party transactions to determine segment performance, the revenues and expenses recognized by the segment that is the counterparty to the transaction are eliminated in consolidation and do not affect consolidated results. We regularly provide management reports to the CODM that include Segment revenues and Segment Adjusted EBITDA (defined below). Significant Segment expenses regularly provided to the CODM, and included within Segment Adjusted EBITDA include Payroll, Benefits, Newsprint & ink, Distribution, Outside services and Digital cost of goods sold. The CODM uses Segment Adjusted EBITDA to evaluate the performance of the segments and allocate resources. Segment Adjusted EBITDA provides an assessment of controllable expenses and affords the CODM the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieve optimal financial performance. Management considers Segment Adjusted EBITDA to be an important metric to evaluate and compare the ongoing operating performance of our segments on a consistent basis across reporting periods as it eliminates the effect of items that we do not believe are indicative of each segment's core operating performance. We define Segment Adjusted EBITDA as Segment revenues less (1) operating costs and (2) selling, general and administrative expenses, plus (3) equity (income) loss in unconsolidated investees, net. Segment Adjusted EBITDA also does not include: (1) Income tax expense (benefit), (2) Noncontrolling interest, (3) Interest expense, (4) Gains or losses on the early extinguishment of debt, (5) Non-operating pension income, (6) Loss on convertible notes derivative, (7) Depreciation and amortization, (8) Integration and reorganization costs, (9) Asset impairments, (10) Goodwill and intangible impairments, (11) Gains or losses on the sale or disposal of assets, (12) Share-based compensation expense, and (13) Other (income) expense, net. The following tables below present summarized financial information for each of the Company's reportable segments. Revenues
| Three months ended June 30, 2025
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Total
External revenues | $ | 406,356 |  |  | $ | 59,449 |  |  | $ | 117,478 |  |  | $ | 583,283 |
Intersegment revenues | 32,943 |  |  | 1,869 |  |  | — |  |  | 34,812 |
Segment revenues | $ | 439,299 |  |  | $ | 61,318 |  |  | $ | 117,478 |  |  | $ | 618,095 |
Reconciliation of revenues: |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  | 1,578 |
Elimination of intersegment revenues |  |  |  |  |  |  | (34,812) |
Total revenues |  |  |  |  |  |  | $ | 584,861 |
| Three months ended June 30, 2024
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Total
External revenues | $ | 455,262 |  |  | $ | 59,522 |  |  | $ | 123,798 |  |  | $ | 638,582 |
Intersegment revenues | 36,647 |  |  | 1,730 |  |  | — |  |  | 38,377 |
Segment revenues | $ | 491,909 |  |  | $ | 61,252 |  |  | $ | 123,798 |  |  | $ | 676,959 |
Reconciliation of revenues: |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  | 1,258 |
Elimination of intersegment revenues |  |  |  |  |  |  | (38,377) |
Total revenues |  |  |  |  |  |  | $ | 639,840 |
| Six months ended June 30, 2025
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Total
External revenues | $ | 813,588 |  |  | $ | 113,602 |  |  | $ | 226,187 |  |  | $ | 1,153,377 |
Intersegment revenues | 65,781 |  |  | 3,564 |  |  | — |  |  | 69,345 |
Segment revenues | $ | 879,369 |  |  | $ | 117,166 |  |  | $ | 226,187 |  |  | $ | 1,222,722 |
Reconciliation of revenues: |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  | 3,057 |
Elimination of intersegment revenues |  |  |  |  |  |  | (69,345) |
Total revenues |  |  |  |  |  |  | $ | 1,156,434 |
| Six months ended June 30, 2024
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  | Total
External revenues | $ | 914,085 |  |  | $ | 117,811 |  |  | $ | 240,843 |  |  | $ | 1,272,739 |
Intersegment revenues | 73,543 |  |  | 3,639 |  |  | — |  |  | 77,182 |
Segment revenues | $ | 987,628 |  |  | $ | 121,450 |  |  | $ | 240,843 |  |  | $ | 1,349,921 |
Reconciliation of revenues: |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  | 2,862 |
Elimination of intersegment revenues |  |  |  |  |  |  | (77,182) |
Total revenues |  |  |  |  |  |  | $ | 1,275,601 |
Reconciliation of Segment Revenues to Segment Adjusted EBITDA
| Three months ended June 30, 2025
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  |
Segment revenues | $ | 439,299 |  |  | $ | 61,318 |  |  | $ | 117,478 |  |  |
Less: |  |  |  |  |  |  |
Payroll | 122,607 |  |  | 25,888 |  |  | 23,524 |  |  |
Benefits | 20,998 |  |  | 958 |  |  | 3,049 |  |  |
Newsprint and ink | 13,373 |  |  | 2,413 |  |  | — |  |  |
Distribution | 61,957 |  |  | 3,186 |  |  | — |  |  |
Outside services | 40,768 |  |  | 3,085 |  |  | 5,247 |  |  |
Digital cost of goods sold | 44,614 |  |  | 2,154 |  |  | 72,198 |  |  |
Other(a) | 91,758 |  |  | 8,740 |  |  | 1,962 |  |  |
Segment Adjusted EBITDA | $ | 43,224 |  |  | $ | 14,894 |  |  | $ | 11,498 |  |  |
(a) Other expenses primarily include corporate allocations of shared costs, facility-related expenses, advertising costs, and Equity loss (income) in unconsolidated investees, net, which are not separately provided to the CODM. Corporate allocations of shared costs include, but are not limited to technology, finance, analytics, legal, and human resources, as well as other general business costs.
| Three months ended June 30, 2024
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  |
Segment revenues | $ | 491,909 |  |  | $ | 61,252 |  |  | $ | 123,798 |  |  |
Less: |  |  |  |  |  |  |
Payroll | 132,935 |  |  | 23,945 |  |  | 25,628 |  |  |
Benefits | 24,264 |  |  | 902 |  |  | 3,156 |  |  |
Newsprint and ink | 16,846 |  |  | 2,461 |  |  | — |  |  |
Distribution | 69,283 |  |  | 3,137 |  |  | — |  |  |
Outside services | 47,344 |  |  | 2,523 |  |  | 2,220 |  |  |
Digital cost of goods sold | 45,032 |  |  | 2,238 |  |  | 77,476 |  |  |
Other(a) | 103,307 |  |  | 11,908 |  |  | 3,545 |  |  |
Segment Adjusted EBITDA | $ | 52,898 |  |  | $ | 14,138 |  |  | $ | 11,773 |  |  |
(a) Other expenses primarily include corporate allocations of shared costs, facility-related expenses, advertising costs, and Equity loss (income) in unconsolidated investees, net, which are not separately provided to the CODM. Corporate allocations of shared costs include, but are not limited to technology, finance, analytics, legal, and human resources, as well as other general business costs.
| Six months ended June 30, 2025
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  |
Segment revenues | $ | 879,369 |  |  | $ | 117,166 |  |  | $ | 226,187 |  |  |
Less: |  |  |  |  |  |  |
Payroll | 247,295 |  |  | 49,340 |  |  | 48,551 |  |  |
Benefits | 46,199 |  |  | 2,006 |  |  | 6,745 |  |  |
Newsprint and ink | 27,786 |  |  | 4,716 |  |  | — |  |  |
Distribution | 126,462 |  |  | 6,196 |  |  | — |  |  |
Outside services | 81,995 |  |  | 5,960 |  |  | 8,119 |  |  |
Digital cost of goods sold | 86,854 |  |  | 4,154 |  |  | 138,665 |  |  |
Other(a) | 186,390 |  |  | 15,966 |  |  | 4,140 |  |  |
Segment Adjusted EBITDA | $ | 76,388 |  |  | $ | 28,828 |  |  | $ | 19,967 |  |  |
(a) Other expenses primarily include corporate allocations of shared costs, facility-related expenses, advertising costs, and Equity loss (income) in unconsolidated investees, net, which are not separately provided to the CODM. Corporate allocations of shared costs include, but are not limited to technology, finance, analytics, legal, and human resources, as well as other general business costs.
| Six months ended June 30, 2024
In thousands | Domestic Gannett Media |  | Newsquest |  | Digital Marketing Solutions |  |
Segment revenues | $ | 987,628 |  |  | $ | 121,450 |  |  | $ | 240,843 |  |  |
Less: |  |  |  |  |  |  |
Payroll | 267,733 |  |  | 47,608 |  |  | 51,002 |  |  |
Benefits | 48,630 |  |  | 1,963 |  |  | 6,433 |  |  |
Newsprint and ink | 35,419 |  |  | 5,085 |  |  | — |  |  |
Distribution | 143,766 |  |  | 6,323 |  |  | — |  |  |
Outside services | 95,046 |  |  | 5,060 |  |  | 4,505 |  |  |
Digital cost of goods sold | 90,440 |  |  | 4,634 |  |  | 150,587 |  |  |
Other(a) | 209,216 |  |  | 22,476 |  |  | 7,764 |  |  |
Segment Adjusted EBITDA | $ | 97,378 |  |  | $ | 28,301 |  |  | $ | 20,552 |  |  |
(a) Other expenses primarily include corporate allocations of shared costs, facility-related expenses, advertising costs, and Equity loss (income) in unconsolidated investees, net, which are not separately provided to the CODM. Corporate allocations of shared costs include, but are not limited to technology, finance, analytics, legal, and human resources, as well as other general business costs. Reconciliation of Segment Adjusted EBITDA to Net income (loss) attributable to Gannett
| Three months ended June 30, |  | Six months ended June 30,
in thousands | 2025 |  | 2024 |  | 2025 |  | 2024
Domestic Gannett Media | $ | 43,224 |  |  | $ | 52,898 |  |  | $ | 76,388 |  |  | $ | 97,378 |
Newsquest | 14,894 |  |  | 14,138 |  |  | 28,828 |  |  | 28,301 |
Digital Marketing Solutions | 11,498 |  |  | 11,773 |  |  | 19,967 |  |  | 20,552 |
Segment Adjusted EBITDA | $ | 69,616 |  |  | $ | 78,809 |  |  | $ | 125,183 |  |  | $ | 146,231 |
Corporate | 5,379 |  |  | 4,278 |  |  | 10,437 |  |  | 14,111 |
Benefit for income taxes | (87,472) |  |  | (26,803) |  |  | (94,286) |  |  | (16,725) |
Net income (loss) attributable to noncontrolling interests | 7 |  |  | (31) |  |  | 7 |  |  | (31) |
Interest expense | 24,395 |  |  | 26,270 |  |  | 50,478 |  |  | 52,835 |
Loss (gain) on early extinguishment of debt | 183 |  |  | 87 |  |  | 1,457 |  |  | (530) |
Non-operating pension income | (2,003) |  |  | (3,137) |  |  | (3,917) |  |  | (6,283) |
Depreciation and amortization | 42,644 |  |  | 38,258 |  |  | 85,278 |  |  | 76,556 |
Integration and reorganization costs(a) | 12,318 |  |  | 19,775 |  |  | 21,816 |  |  | 37,656 |
Asset impairments | 181 |  |  | — |  |  | 2,075 |  |  | 45,989 |
(Gain) loss on sale or disposal of assets, net | (1,584) |  |  | 236 |  |  | (22,264) |  |  | 788 |
Share-based compensation expense | 2,082 |  |  | 3,512 |  |  | 4,961 |  |  | 6,338 |
Other (income) expense, net(b) | (4,905) |  |  | 2,616 |  |  | (1,917) |  |  | 6,547 |
Net income (loss) attributable to Gannett | $ | 78,391 |  |  | $ | 13,748 |  |  | $ | 71,058 |  |  | $ | (71,020) |
(a) Integration and reorganization costs mainly reflect severance-related expenses and other reorganization-related costs, designed primarily to right-size the Company's employee base, consolidate facilities and improve operations. (b) Other (income) expense, net primarily reflects expert fees associated with the litigation with Google, consulting fees related to a discrete initiative to reformulate our go-to-market strategy and post-sales processes, (gains) losses from the sale of investments and third-party debt costs. Asset and asset related information by segment are not key measures of performance used by the CODM function. Accordingly, we have not disclosed asset and asset related information by segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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