Thanks, this our morning. call Ashley. for morning, joining Good Thanks everyone.
fourth in beyond. quarter build we structure, and improved with upon you cost importantly, to today how are details including our of share our lower capital the We our and momentum pleased strong debt, of XXXX performance, expect a significantly to
business. are XXXX our all meaningful of achieved across We progress aspects exiting having
and reduction growth in are subscription seeing pivoting on our are trends improving toward digital strategy. primary a debt focus We from long-term we integration led
basis service both points improved sequentially quarter, the of of marketing quarter print. Looking driven by and our rebound from our continued products, results revenue third digital fourth and at the XXX trends the advertising our
circulation the challenged. remain On sales side, single-copy
subscription our the However, trends revenue consistent quarter. third with remained
discussed totaling which prior million. on our X.X focused highly grow now subscriptions, are digital-only As calls, we on over paid continuing we have are to
continued capital the cost to XX.X% year as to reduction – on the strong decreasing Our as expenses the during execution well capturing in led synergies on fourth efforts to additional quarter. pandemic response prior
As fourth X.X% a adjusted combined growth the represents achieved of quarter, basis. result, year-over-year of on we $XXX.X EBITDA same-store in million a which company
over detail, to to a results structure discuss to in achieved our minutes capital few past we significant highlight months. financial improvements I turn in Doug the to few that call the our more Before I over wanted the
in refinanced annual minimum allow stated time XX.X% has It have that by refinance stock loan remainder maintain. of us loan our in notes million $XXX reduced on We X represented were notes billion sales, through repayment X% extended concern at important expense term term and us company price This closing by refinanced is one we of loan million we to priced a the we In committed floor. we to since with XX XXXX, XX.X% priority. to interest cash of that XXXX. is the convertible debt these in this to our level of XXX% years. saved to our only with $XX remaining the and is that our loan, we recognize asset maturity the our common premium conversion due term also with basis it believed achieved price viewed in Most continually debt $XX number point As refinancing financial original balance term the it of we a LIBOR would the importantly Gannett end of approximately November our November X-year $X.XXX to remaining before covenant a the a of loan XXXX a at which XXXX. acquisition as along been loan year, refinancing at for The quarter, the closing end every LIBOR of ahead pricing. new XXX B on timeframe. not a balance though, Early successfully term plus million facility the bridge
in blended have are the is reduce done, interest which over savings from acquisition, cash to from will from The the Legacy highly in our debt and approximately XXXX X-year and made million million as which $XXX further by net loan, repayment in in not notes the interest compared expect since term XXXX, we points this of the last year. now rate outstanding expect to costs does X.XX% to get of reduction in savings debt the we estate XXX assets million. we in XXXX $XX $XX selling debt during costs convertible real Our $XXX $XXX new reduces XX.X% confident interest time the beyond. closing Gannett million cash interest basis the we million factor Factoring additional repayment we the another of that of
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Xx guided years. of make reaching $XXX a we $XXX goal million to also to leverage closing deal. lien a of the the of to a repayment minute, over with debt for within Sticking acquisition X will million below years priority Gannett net next We with synergies EBITDA continue first top X that
our to basis on number and guided already. previously previously synergy million $XXX on the overachieve importantly timeframe XXXX, plans the laid out. within for We expect we have annualized with And achieved an
momentum quarter we We are our to of on look our strong as build the synergies improved execution, to excited fourth forward and XXXX. accelerated capital structure our performance
digital the growth to by our to deeper while strategy vision clear I few engagement is strategy. subscription-led business content for its a business more continue evolution the products our our drives pillars like expected execution Gannett to would expertise offering key print to spend a experiences a a audience content a strategy. that desire. consumers, minutes have media And strategy now. delivering to and We The to and outlining that is platform. you focused committed and digitally company of from business five to partners marketing this are There allow traditional
and the is levels. the gives TODAY, than and both First We in network, journalism network hyper that reach deepen their lives, while obtainable relationships with We growth. in across impacts XXX content and keeping USA consumers customers to newsroom both readily our events accelerating community local digital community XX is local information Newsquest at with The not national of the and media broad them at platforms. print and property more ability to are us this consumers our subscriber our leading local states national comprehensive the digital deliver that regional to the in impact national day-to-day informed anywhere them else believe content local well. brands bring UK U.S. that able the as of our news and we
our subscriber business We growth of digital-only expect original, seek key the overall growing journalism. to high-quality, to our and as subscription and are increasing market element our across invested accelerate journalists base impactful A strategy our growing anchored paid led on model, platform number our consumer share. is of in we of
deliver defined subscription tailored future. out rates We content will higher content. fact news the and fact and believe new in seek and digital to that consumers based to We very also users we with expect continue demand at offerings this specific create believe that based accurate information launch and accurate to
digital driving is pillar by more marketing subscriber second The the clients engaging services in relationship. grow
with scale the a both We national levels. significant unique are now reach local digital community and a at
expect digital client marketing local and our generation strategies markets, service lead expand domestically internationally. our new We and to structure businesses integrated in leverage grow aggressively both and to our base sales our
insights marketing that Given data to will base of volume new dynamic business our for use results extensive can client our digital also campaigns, we offer superior products deliver and partners. and and
pillar businesses traditional advertising. Third circulation optimizing is and across print our
continue traditional profitability of process the our of optimizations. through print to economies operations scale, improvements will and drive We
community Print to reach for both and offer continues opportunity businesses scale our on print network unique customer subscribers. our branding levels. support focused our that brands test By unique are invest and significant pricing vision. at compelling optimizing for leveraging We the our footprint, opportunities and across we to our businesses into our in growth potential prioritizing trusted local growth. have due service for is and advertising and improving a national investments identify, and Fourth media reach,
It’s founding in USA strong a significantly such XXXX. would example business. First has example our TODAY events and say one of experiment NETWORK grown its I since promotions that is Ventures, the
a pro XX% hosting revenues the of pandemic basis. During its was XXXX, events the during to our and XXX XXXX events successfully pivot to on compared events able maintaining to virtually hosting over forma company
Sports also our Media more such education, have progresses. inclusive we the equity culture as fast recruiting, forward intend to several of our and training detail focus. operations, and And onboarding, other do diverse individual development. in our year Reviewed.com, TODAY core you leadership we and growth development and that Group. upon look businesses professional around We are discussing finally, all center day-to-day to and and We as and build diversity growing retention meaningful Inclusion, pillars to hiring, these customer organization with purpose, including influence to USA from
significant efforts our for we support our We have goals published have diversity XXXX and underway initiatives. to
broader us basis you regular XXXX. of communities diversity do track these believe we will at publish first provide the We center foundation for our to our XXXX, share our empowering everything data speak of you thrive efforts. will culture our to first the quarter on aligning progress. putting In points strategic five the to report We priorities expect and a around our and customers with hear workforce to in our
strategy on will the to QX Doug? subscription performance. content and are share excited more it and execute our that, business. hand digital to information our a With led financial I XXXX We to accelerate to on transformation Doug
