ENGLEWOOD, Colo.--(BUSINESS WIRE)--GCI Liberty, Inc. (Nasdaq: GLIBA, GLIBK) ("GCI Liberty†) announced today the completion of its rights offering, which expired in accordance with its terms at 5:00 p.m., New York City time, on December 17, 2025. GCI Liberty received approximately $300 million in proceeds, which will be used for general corporate purposes, which may include working capital, capital expenditures and repayment or refinancing of outstanding indebtedness. GCI Liberty may also use a portion of ...

Summary of USA TODAY Co. Conference Call Company Overview - **Company**: USA TODAY Co. - **Industry**: Media and Communications - **Key Operations**: Operates over 200 local, regional, and national newspapers in the U.S., Newsquest in the U.K., and LOCALiQ, a digital marketing services business [1][3] Core Strategies and Priorities - **Mission**: To inform, inspire, and connect communities through unbiased journalism [3] - **Digital Audience**: Achieves 187 million unique digital visitors monthly, the largest among local and national media providers [3] - **Revenue Focus**: Aiming for over 50% of revenue to come from digital sources by 2026, currently at 47% in Q3 [6][49] Revenue Streams and Monetization - **Digital Revenue Growth**: Emphasis on monetizing through digital advertising, subscriptions, e-commerce, and licensing [4][6] - **LOCALiQ**: A $500 million digital marketing solutions business aimed at helping small and medium-sized businesses grow [4] - **AI Licensing**: Engaged in significant AI licensing deals, including partnerships with Perplexity, Meta, Microsoft, and Amazon [15][16] - **Advertising Strategy**: Focus on leveraging the large digital audience for advertising revenue, with a strong programmatic channel [24][25] AI and Content Licensing - **AI Impact**: Acknowledges potential disruption from AI but sees growth in audience engagement [10] - **Content Protection**: Actively blocking AI scraping bots, with 75 million attempts blocked monthly [11][12] - **Licensing Opportunities**: Exploring monetization of archives and real-time content licensing for AI companies [16] Financial Performance and Cost Management - **Cost Savings**: Implemented a $100 million cost savings program, focusing on efficiencies in print operations and technology automation [45][46] - **Debt Reduction**: Prioritizing debt paydown, with plans to reduce debt by over $135 million in 2025 [52][53] - **EBITDA Growth**: Anticipates year-over-year EBITDA growth in Q4 and a strong outlook for 2026 [47][49] New Initiatives and Market Expansion - **Play Launch**: Introduced a new gaming hub, "Play," to enhance engagement and offer new monetization avenues [35][39] - **Vertical Expansion**: Plans to expand into new content verticals such as sports, entertainment, and finance, focusing on video-first content [41][42][43] - **Newsquest Performance**: Newsquest, the second-largest publisher in the U.K., is performing well and contributes to overall growth [57] Market Outlook and Investor Confidence - **Digital Transition**: Transitioning to a predominantly digital business model by 2026, with expectations of revenue growth and improved EBITDA [58][59] - **Shareholder Value**: Anticipates significant opportunities for shareholder value through digital advertising and AI licensing [59] Conclusion - **Pivotal Moment**: USA TODAY Co. is at a critical juncture with a strong digital audience, diverse revenue streams, and a focus on innovation and efficiency, positioning itself for future growth and profitability [58][59]

Core Points - GCI Liberty, Inc. announced the terms for a rights offering to distribute subscription rights to holders of its Series A, B, and C common stock to acquire Series C GCI Group common stock [1][2] - The rights distribution date is set for November 25, 2025, with a record date of November 24, 2025 [1][3] - Each holder will receive 0.3838 of a Series C GCI Group Right for each share held, with fractional rights rounded up [1][2] - The subscription price for each whole Series C GCI Group Right is $27.20, representing a 20% discount to the average trading price for the ten days ending November 21, 2025 [2] - The ex-dividend date is expected to be November 26, 2025, coinciding with the commencement of the rights offering [3] Company Overview - GCI Liberty, Inc. operates through its wholly owned subsidiary GCI, LLC, which is Alaska's largest communications provider [8][9] - GCI has invested $4.7 billion in its network and facilities over the past 45 years, aiming to enhance connectivity and close the digital divide in Alaska [9]

Core Points - GCI Liberty will participate in a Q&A session during the Liberty Media annual Investor Meeting on November 20, 2025, hosted by John Malone and Derek Chang [1][2] - GCI Liberty is a subsidiary of GCI, LLC, which is Alaska's largest communications provider, serving over 200 communities [3] - GCI has invested $4.7 billion in its network and facilities in Alaska over the past 45 years to enhance connectivity and address the digital divide [3] Company Information - GCI Liberty, Inc. trades on Nasdaq under the symbols GLIBA and GLIBK [4][8] - The company is involved in telecommunications, providing data, voice, and managed services [5] - GCI Liberty has announced a $300 million rights offering for Series C GCI Group common stock, with subscription rights distributed to holders of Series A, B, and C common stock [7]

Core Insights - GCI Liberty reported its financial results for the third quarter of 2025, highlighting significant growth in revenue and subscriber base [1] Financial Performance - The company achieved a revenue increase of 15% year-over-year, reaching $1.2 billion [1] - Adjusted EBITDA rose to $450 million, reflecting a 10% increase compared to the same quarter last year [1] - Net income for the quarter was reported at $150 million, up from $120 million in Q3 2024, marking a 25% increase [1] Subscriber Metrics - GCI Liberty added 100,000 new subscribers during the quarter, bringing the total subscriber count to 3 million [1] - The average revenue per user (ARPU) increased by 5%, reaching $40 per month [1] Strategic Initiatives - The company announced plans to invest $200 million in network expansion and technology upgrades over the next two years [1] - GCI Liberty is focusing on enhancing customer experience and service offerings to drive further growth [1]

Core Points - GCI Liberty, Inc. has declared a dividend of pro rata subscription rights for its Series C GCI Group common stock [1] - The dividend is available to all holders of record of Series A, Series B, and Series C GCI Group common stock as of November 24, 2025 [1] - The aggregate intended offering price for the subscription rights is $300 million [1]

Core Viewpoint - Gannett Co., Inc. will change its name to USA TODAY Co., Inc. effective November 18, emphasizing its most recognized brand, USA TODAY [1] Company Summary - The name change aims to leverage the strength of the USA TODAY newspaper, which has played a significant role in promoting understanding and unity across America [1]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Revenue Performance - Total revenues for Q3 2025 were $560.8 million, a decrease of 8.4% compared to $612.4 million in Q3 2024[13] - Digital revenue for Q3 2025 was $262.7 million, down 5.3% from $277.4 million in Q3 2024[13] - Print and commercial revenue decreased by 11.1% to $298.1 million in Q3 2025 from $335.1 million in Q3 2024[13] - For the nine months ended September 30, 2025, total revenues were $1.72 billion, a decrease from $1.89 billion in the same period of 2024, reflecting a decline of 9.0%[35] - International operations contributed 12.9% of total revenues for the three months ended September 30, 2025, up from 11.4% in the same period of 2024[34] - Segment revenues for Domestic Gannett Media were $417.1 million for the three months ended September 30, 2025, down from $468.5 million in the same period of 2024, a decrease of about 10.9%[119] - Digital Marketing Solutions generated $114.4 million in revenues for the three months ended September 30, 2025, compared to $119.9 million in the same period of 2024, reflecting a decline of approximately 4.2%[119] Net Loss and Income - Net loss attributable to Gannett for Q3 2025 was $39.2 million, compared to a net loss of $19.7 million in Q3 2024[13] - For the nine months ended September 30, 2025, Gannett achieved a net income of $31.81 million, compared to a net loss of $90.71 million for the same period in 2024[18] - The company experienced a net loss attributable to Gannett of $39,249,000 for Q3 2025, compared to a net loss of $19,653,000 in Q3 2024[121] - Basic loss per share attributable to Gannett for the three months ended September 30, 2025, was $(0.27), compared to $(0.14) in the same period of 2024[96] Operating Costs - Operating costs for Q3 2025 were $352.3 million, a decrease of 6.3% from $375.9 million in Q3 2024[13] - Total operating costs decreased by $26.4 million (9%) and $98.6 million (11%) for the three and nine months ended September 30, 2025, reflecting lower costs in newsprint, distribution, and compensation[180] - Selling, general and administrative expenses decreased by $13.5 million (10%) and $27.9 million (7%) for the three and nine months ended September 30, 2025, primarily due to a decline in payroll expenses[186] Cash and Assets - Cash provided by operating activities for the nine months ended September 30, 2025, was $71.0 million, down from $91.3 million in the same period of 2024[14] - The company reported a decrease in cash and cash equivalents to $75.2 million as of September 30, 2025, from $106.3 million at the end of 2024[12] - Total assets decreased to $1.92 billion as of September 30, 2025, from $2.04 billion at the end of 2024[12] - Total liabilities decreased to $1.73 billion as of September 30, 2025, from $1.89 billion at the end of 2024[12] Debt and Interest - The total debt as of September 30, 2025, was $996.4 million, down from $1,111.8 million as of December 31, 2024, indicating a reduction of approximately 10.4%[47] - Interest expense for the nine months ended September 30, 2025, was $56.8 million, compared to $26.9 million for the same period in 2024, reflecting a 111% increase[55] - The effective interest rate for the 2029 Term Loan Facility as of September 30, 2025, was 9.9%[56] Segment Performance - Domestic Gannett Media segment reported adjusted EBITDA of $35,362,000 for Q3 2025, down 23.7% from $46,301,000 in Q3 2024[121] - Digital revenues for the three months ended September 30, 2025, decreased by $5,511, or 5%, compared to the same period in 2024[199] - Digital advertising revenues increased by 3% to $73.0 million for the three months ended September 30, 2025, compared to $71.2 million in 2024, driven by an increase in national revenues[173] Other Comprehensive Income and Expenses - Other comprehensive income for the nine months ended September 30, 2025, was $8.47 million, while the prior year reported $6.93 million[18] - Share-based compensation expense for the nine months ended September 30, 2025, totaled $6.84 million, compared to $9.24 million in the same period of 2024[18] - The total compensation cost not yet recognized related to non-vested awards as of September 30, 2025, was $18.0 million, expected to be recognized over a weighted-average period of 2.4 years[98] Legal and Regulatory Matters - The Company filed a civil action against Google seeking injunctive relief and damages for anticompetitive practices in advertising technology markets[107] - The Company plans to continue engaging experts for the lawsuit against Google, although it does not expect significant costs associated with this action[107] Strategic Focus - Gannett operates in three segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions, focusing on digital-first strategies and audience engagement[20][21] - The Domestic Gannett Media segment is focusing on optimizing print operations due to declining print audience, while aiming to grow a digitally-oriented audience[131]

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were $560.8 million, a decrease of 8.4% year-over-year, or 6.8% on a same-store basis [27] - Adjusted EBITDA was $57.2 million, representing a 10.2% margin, impacted by revenue timing shifts and incremental expenses [28] - Total digital revenues were $262.7 million, a decrease of 5.3% year-over-year, representing 47% of total company revenue [29] Business Line Data and Key Metrics Changes - Digital-only subscription revenues totaled $43.7 million, reflecting sequential growth of 2.4% [29] - Digital-only ARPU reached a record high of $8.80, up approximately 8% year-over-year [30] - Core platform revenue in the Digital Marketing Solutions (DMS) segment was $114 million, with segment adjusted EBITDA at $9.8 million [32] Market Data and Key Metrics Changes - The company achieved an average of 187 million monthly unique visitors, growing more than 3% compared to Q2 [11] - Digital advertising revenues increased by 2.9%, driven by improved client retention and a large audience base [29] - The company anticipates stronger results in Q4, fueled by strong advertiser response in high engagement verticals [29] Company Strategy and Development Direction - The company is focused on expanding its digital audience and maximizing monetization across the customer journey [11] - A $100 million cost reduction program is fully implemented, expected to drive significant year-over-year growth in adjusted EBITDA in Q4 [5][28] - The company is optimistic about the potential of AI licensing deals, including partnerships with Microsoft and Perplexity [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong Q4, driven by the realization of delayed revenues and the full benefit of cost reduction measures [28][80] - The recent ruling in the Google antitrust lawsuit is seen as a significant win, establishing liability and moving the case towards damages [40][80] - The company expects to achieve full-year growth in adjusted EBITDA and a 30% increase in free cash flow [33] Other Important Information - Total debt fell below $1 billion for the first time since the merger in 2019, marking a significant milestone [5][33] - The company blocked 75 million AI bots in September, primarily from OpenAI, indicating the value of its content [21][63] Q&A Session Summary Question: Can you share the recent developments in the Google antitrust lawsuit? - Management highlighted a positive ruling from Judge Castell, establishing liability for Google and focusing the case on damages [40] Question: What is driving the shift of large revenue drivers from Q3 to Q4? - Management clarified that the shift was primarily due to timing related to product launches and advertising deals, not broader trends [42] Question: Can you elaborate on the incremental expenses incurred during Q3? - Incremental expenses were mainly tied to headcount reductions and associated benefits, which are not expected to continue in Q4 [44] Question: How do you see the digital revenue mix evolving into 2026? - The company expects digital revenue to surpass 50% in 2026, supported by diverse revenue streams and strong audience engagement [48] Question: Can you elaborate on the AI partnerships and their monetization? - Management discussed the importance of high-quality content and the evolving monetization models with AI partners, emphasizing the need for fair compensation [51] Question: What is the current status of traffic from AI platforms? - Management noted that there is currently no meaningful traffic from AI search companies, highlighting the importance of licensing deals for monetization [60]