SCHEDULE: Apollo Funds Report 8.3% Stake in USA TODAY Co.

Apollo Management Holdings GP, LLC and affiliated entities have reported a beneficial ownership of 12,128,756 shares, representing 8.3% of USA TODAY Co., Inc.'s common stock.

Summary

• This filing is an amendment to a Schedule 13G, indicating a change in beneficial ownership of USA TODAY Co., Inc. common stock.
• Multiple Apollo-affiliated entities are listed as reporting persons, including Apollo Management Holdings GP, LLC, Apollo Atlas Master Fund, LLC, Apollo Credit Strategies Master Fund Ltd., and others.
• Collectively, these entities beneficially own 12,128,756 shares of common stock, representing 8.3% of the class.
• The filing specifies shared voting and dispositive power for these shares across the various reporting entities.
• The percentages are based on 146,702,111 shares of Common Stock outstanding as of April 27, 2026, as reported in the company's Form 10-Q filed on April 30, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing neutrally as it is a routine ownership disclosure and does not provide performance or strategic information.

Positives

• Significant stake reported by a major investment management group, potentially indicating confidence in the company's value or future prospects.
• The reporting is up-to-date as of March 31, 2026, with the filing date of May 14, 2026, providing current ownership information.

Negatives

• The filing does not contain financial performance data, strategic updates, or management commentary, limiting the assessment of the company's operational health.
• The nature of the beneficial ownership (shared voting/dispositive power across multiple entities) could imply complex control structures.

Risks

• Potential for increased shareholder activism or influence due to the significant stake held by Apollo.
• The complex structure of reporting entities might obscure the ultimate beneficial owner or control, though the filing states no intent to influence control.
• The filing is an amendment to a Schedule 13G, suggesting prior ownership and potential ongoing adjustments to holdings.

Future Outlook

This filing is primarily an ownership disclosure and does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• Each reporting entity disclaims beneficial ownership of shares other than those held of record by such entity, and the filing does not constitute an admission of beneficial ownership for any purpose other than Section 13(d) or 13(g) of the Securities Exchange Act of 1934.
• Messrs. Scott Kleinman, James Zelter and Marc Rowan, as managers and executive officers of Management Holdings GP, also disclaim beneficial ownership.

Industry Context

StockSavvy.ai notes that significant stake disclosures by large investment firms like Apollo are common in the media and publishing sector, often signaling strategic interest or a belief in undervalued assets. This filing places USA TODAY Co. within the context of active institutional investment in the industry.

Stakeholder Impact

• Shareholders: The significant stake may influence share price due to potential for increased institutional interest or future strategic actions by Apollo.
• Management: May face increased scrutiny or engagement from Apollo regarding company strategy and performance.
• Creditors: No direct impact indicated, but any strategic shifts by Apollo could indirectly affect the company's financial stability.

Next Steps

• Monitor future filings for any changes in beneficial ownership by Apollo or other significant investors.
• Observe any potential strategic actions or communications from USA TODAY Co. that may be influenced by this significant stake.

Key Dates

Keywords

Schedule 13G, Beneficial Ownership, USA TODAY Co., Inc., Apollo Management Holdings GP, LLC, Common Stock, SEC Filing, Investment Management, Shareholder