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Segment reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables below present summarized financial information for each of the Company's reportable segments.

Revenues

	Year ended December 31, 2025
In thousands	USA TODAY Media		Newsquest		LocaliQ		Total
External revenues	$1,617,453		$230,394		$448,311		$2,296,158
Intersegment revenues	126,129		7,873		—		134,002
Segment revenues	1,743,582		238,267		448,311		2,430,160
Reconciliation of revenues:
Other revenues							6,068
Elimination of intersegment revenues							(134,002)
Total revenues							$2,302,226

	Year ended December 31, 2024
In thousands	USA TODAY Media		Newsquest		LocaliQ		Total
External revenues	$1,793,757		$232,095		$477,807		$2,503,659
Intersegment revenues	144,641		7,178		—		151,819
Segment revenues	1,938,398		239,273		477,807		2,655,478
Reconciliation of revenues:
Other revenues							5,656
Elimination of intersegment revenues							(151,819)
Total revenues							$2,509,315

	Year ended December 31, 2023
In thousands	USA TODAY Media		Newsquest		LocaliQ		Total
External revenues	$1,953,252		$226,121		$477,909		$2,657,282
Intersegment revenues	142,601		7,859		—		150,460
Segment revenues	2,095,853		233,980		477,909		2,807,742
Reconciliation of revenues:
Other revenues							6,268
Elimination of intersegment revenues							(150,460)
Total revenues							$2,663,550

Schedule of Reconciliation of Segment Revenue Adjusted EBITDA

Reconciliation of Segment Revenues to Segment Adjusted EBITDA

	Year ended December 31, 2025
In thousands	USA TODAY Media		Newsquest		LocaliQ
Segment revenues	$1,743,582		$238,267		$448,311
Less:
Payroll	494,619		101,211		93,180
Benefits	97,519		4,181		13,177
Newsprint and other production materials	56,289		12,189		—
Distribution	246,778		12,549		—
Outside services	164,053		12,125		18,866
Digital cost of goods sold	173,389		8,920		270,336
Other(a)	329,819		30,202		6,417
Segment Adjusted EBITDA	$181,116		$56,890		$46,335

(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.

	Year ended December 31, 2024
In thousands	USA TODAY Media		Newsquest		LocaliQ
Segment revenues	$1,938,398		$239,273		$477,807
Less:
Payroll	549,478		96,526		102,641
Benefits	99,206		4,075		12,752
Newsprint and other production materials	74,419		12,820		—
Distribution	276,069		12,755		—
Outside services	183,382		10,396		10,542
Digital cost of goods sold	176,962		9,175		295,549
Other(a)	376,141		40,117		12,645
Segment Adjusted EBITDA	$202,741		$53,409		$43,678

(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.

	Year ended December 31, 2023
In thousands	USA TODAY Media		Newsquest		LocaliQ
Segment revenues	$2,095,853		$233,980		$477,909
Less:
Payroll	562,209		93,492		99,942
Benefits	102,193		4,002		11,852
Newsprint and other production materials	108,257		15,330		—
Distribution	323,750		13,325		—
Outside services	201,906		10,046		8,319
Digital cost of goods sold	180,876		9,876		289,878
Other(a)	421,631		37,781		14,695
Segment Adjusted EBITDA	$195,031		$50,128		$53,223

(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.

Schedule of Reconciliation of Segment Adjusted EBTIDA to Loss Before Income Taxes

Reconciliation of Segment Adjusted EBITDA to Net income (loss) attributable to USA TODAY Co.

	Year ended December 31,
In thousands	2025		2024		2023
USA TODAY Media	$181,116		$202,741		$195,031
Newsquest	56,890		53,409		50,128
LocaliQ	46,335		43,678		53,223
Segment Adjusted EBITDA	284,341		299,828		298,382
Corporate	21,293		26,672		30,802
(Benefit) provision for income taxes	(3,030)		(51,286)		21,729
Net income (loss) attributable to noncontrolling interests	6		(33)		(103)
Interest expense	97,225		104,697		111,776
Loss (gain) early extinguishment of debt	1,516		(55,559)		(4,529)
Depreciation and amortization	165,759		156,287		162,622
Integration and reorganization costs(a)	31,595		66,155		24,468
Asset impairments	2,243		46,589		1,370
(Gain) loss on sale or disposal of assets, net	(16,844)		1,106		(40,101)
Share-based compensation expense	9,149		12,522		16,567
Other (income) expense, net(b)	(26,320)		19,032		1,572
Net income (loss) attributable to USA TODAY Co.	$1,749		$(26,354)		$(27,791)

(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 the components of net periodic pension and postretirement benefits other than service cost, 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, third-party debt costs and the components of net periodic pension and postretirement benefits other than service

cost.

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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