Integration and reorganization costs, and asset impairments

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

Integration and reorganization costs, and asset impairments

NOTE 5 — Integration and reorganization costs, and asset impairments

Integration and reorganization costs

Integration and reorganization costs include severance costs as well as other reorganization-related costs associated with individual restructuring programs, designed primarily to right-size the Company's employee base, consolidate facilities and improve operations. These initiatives impact all the Company's operations and can be influenced by the terms of union contracts. Costs related to these programs, which primarily include severance and other reorganization-related costs, are accrued when probable and reasonably estimable or at the time of program announcement.

Severance-related expenses

The Company recorded severance-related expenses by segment as follows:


	Three months ended June 30,				Six months ended June 30,
In thousands	2025		2024		2025		2024
Domestic Gannett Media	$	6,494	$	4,116	$	10,649	$	8,193
Newsquest	389		243		495		412
Digital Marketing Solutions	8		84		1,117		109
Corporate	1,313		(14)		2,104		969
Total	$	8,204	$	4,429	$	14,365	$	9,683

A roll-forward of the accrued severance and related expenses included in Accounts payable and accrued liabilities on the condensed consolidated balance sheets for the six months ended June 30, 2025 is as follows:


In thousands	Severance and related expenses
Beginning balance	$	5,491
Restructuring provision included in integration and reorganization costs	14,365
Cash payments	(7,696)
Other(a)	1,788
Ending balance	$	13,948

(a) Included $1.8 million related to the departure of the Company's former Chief Financial Officer.

Other reorganization-related costs

Other reorganization-related costs represent individual restructuring programs, designed primarily to right-size the Company's employee base, consolidate facilities and improve operations. The Company recorded Other reorganization-related costs by segment as follows:


	Three months ended June 30,				Six months ended June 30,
In thousands	2025		2024		2025		2024
Domestic Gannett Media(a)	$	2,462	$	10,577	$	1,628	$	21,389
Newsquest	5		—		5		—
Digital Marketing Solutions	—		803		—		803
Corporate(b)	1,647		3,966		5,818		5,781
Total	$	4,114	$	15,346	$	7,451	$	27,973

(a) For the six months ended June 30, 2025, Other restructuring-related costs at the Domestic Gannett Media segment included the reversal of a withdrawal liability related to a multiemployer pension plan of $1.8 million based on the settlement of the withdrawal liability. For the three and six months ended June 30, 2024, Other restructuring-related costs at the Domestic Gannett Media segment primarily reflected a $9.9 million withdrawal liability which was expensed as a result of ceasing contributions to a multiemployer pension plan. In addition, for the six months ended June 30, 2024, Other reorganization-related costs at the Domestic Gannett Media segment also reflected $9.7 million expensed as of the cease-use date related to certain licensed content.

(b) For the six months ended June 30, 2025, Other restructuring-related costs at Corporate included $2.1 million expensed related to the departure of the Company's former Chief Financial Officer.

Asset impairments

Corporate office relocation

On March 1, 2024, we exited and ceased use of our leased facility in McLean, Virginia and moved our corporate headquarters to our existing office space in New York. We will continue to seek subleases for the leased facility in McLean. As a result of the headquarters relocation, we recorded an impairment charge of approximately $46.0 million during the six months ended June 30, 2024 related to the McLean operating lease right-of-use asset and the associated leasehold improvements. The fair value was measured using a discounted cash flow model based on market rents projected over the remaining lease term.