Gannett Launches Share Buyback up to $100 Million; Amends Credit Agreement

Gannett Launches Share Buyback up to $100 Million; Amends Credit Agreement
A sign in front of Gannett Co. Inc., headquarters is shown in Tysons Corner, Va., on April 25, 2016. Mark Wilson/Getty Images
Benzinga
Updated:

Gannett Co Inc.’s board authorized a share buyback of up to $100 million.

Gannett’s existing five-year senior secured credit agreement will provide for an incremental term loan not exceeding $50 million and transition the interest rate base from LIBOR to Term SOFR due to regulatory requirements.