SCHEDULE: Apollo Group Discloses 8% Stake in Gannett

Apollo Management Holdings GP, LLC and its affiliates have reported a collective beneficial ownership of 8.0% in Gannett Co., Inc., totaling 11,653,303 shares.

Summary

• Apollo Management Holdings GP, LLC and its affiliates collectively beneficially own 11,653,303 shares of Gannett Co., Inc. Common Stock.
• This represents 8.0% of Gannett's outstanding Common Stock.
• The percentage is based on 146,617,081 shares of Common Stock outstanding as of July 28, 2025, as reported by Gannett in its Quarterly Report on Form 10-Q filed with the SEC on July 31, 2025.
• The filing is an Amendment No. 5 to a Schedule 13G, indicating an update to a previously reported beneficial ownership position.
• The reporting persons disclaim beneficial ownership of shares not held of record and certify that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, except for activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: This filing is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or outlook.

Risks

• The certification states that the securities were not acquired or held for the purpose of changing or influencing control, 'other than activities solely in connection with a nomination under Rule 14a-11,' which could imply potential future shareholder activism or efforts to influence board composition.

Future Outlook

NA

Industry Context

Gannett Co., Inc. operates in the media and publishing industry. The disclosure of a significant stake by a major investment firm like Apollo could signal institutional interest in the sector or the company's specific assets, potentially indicating a belief in the long-term value or strategic potential within the evolving media landscape.

Corporate Governance

Stakeholder Impact

• Shareholders: The disclosure of a significant 8.0% stake by a prominent institutional investor like Apollo may influence market perception and trading activity, potentially signaling confidence or drawing attention to the stock.
• Company Management: Awareness of a large, potentially activist-leaning shareholder group (due to the Rule 14a-11 clause) may prompt management to consider shareholder interests more closely in strategic decisions.

Key Dates

Recommendation

This Schedule 13G filing primarily discloses a significant 8.0% beneficial ownership stake in Gannett Co., Inc. by Apollo Management Holdings GP, LLC and its affiliates. While the presence of a major institutional investor like Apollo can be viewed as a positive signal of confidence in the company, the filing itself does not provide financial performance data, strategic plans, or a clear indication of Apollo's long-term intentions beyond a passive investment with a potential for director nominations. Therefore, without additional information on Gannett's operational performance or Apollo's strategic engagement, a 'hold' recommendation is appropriate, suggesting investors maintain their current position while monitoring future developments.

Keywords

Gannett, Apollo, SEC Filing, Schedule 13G, Beneficial Ownership, Common Stock, Media, Publishing, Investment