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GANNETT Achieved Record Digital - Only Subscriber Growth of 46 % to over 1.5 million Paid Subscribers Continued Strong Growth in Digital Marketing Solutions with Revenue Up 16.5 % Over Prior Year Same Store Improved Capital Structure with Recent Debt Refinancing ; First Lien Net Leverage down to 1.6x MCLEAN , VA - November 5 , 2021 - Gannett Co. , Inc. ( " Gannett " , " we " , " us " , " our " , or the " Company " ) ( NYSE : GCI ) today reported its financial results for the third quarter ended September 30 , 2021 . " Nine months ago , we outlined a long - term vision for growth at Gannett . While we are still in early stages , the strong growth in digital - only circulation and digital marketing solutions confirms we are on the right path as evidenced by Adjusted EBITDA and same store revenue growth in the third quarter of 2021 , " said Michael Reed , Gannett Chairman and Chief Executive Officer . " With digital revenue accounting for over one - third of total revenue and growing , we are excited about the Company's evolution to a digitally focused content platform and the early momentum of our subscription - led strategy . " " We remain committed to maximizing shareholder value and we believe this is achievable through the execution of our long - term strategy coupled with our improved capital structure , lower cost of debt , and new credit facility , each of which provides us greater financial flexibility to conduct share repurchases and redeem our previously issued convertible notes . " Third Quarter 2021 Financial Highlights : ● Gannett Announces Third Quarter 2021 Results ● Total revenues of $ 800.2 million decreased 1.8 % compared to the prior year quarter Same store revenues increased 0.9 % compared to the third quarter of 2020 Total digital revenues were $ 265.0 million or 33.1 % of total revenues , up 17.8 % over the prior year period on a same store basis Net income attributable to Gannett of $ 14.7 million Adjusted net income attributable to Gannett of $ 26.5 million Adjusted EBITDA totaled $ 102.1 million , an increase of 16.0 % compared to the third quarter of 2020 , the fourth consecutive quarter of year - over - year growth Adjusted EBITDA margin of 12.8 % versus 10.8 % in the prior year period Prior year third quarter Adjusted EBITDA includes $ 4.8 million related to businesses that the Company divested in the fourth quarter of 2020 Net cash flow provided by operating activities of $ 40.8 million Free cash flow of $ 29.3 million O O O Additional Business Highlights : Digital - only paid subscribers exceeded 1.5 million at the end of the third quarter of 2021 , up 46 % compared to the same period in the prior year Digital - only circulation revenues of $ 25.7 million grew 26.6 % year - over - year O