Gannett in $730 Million Debt Tender Offer

December 11, 2008

Cleary Gottlieb represented Citigroup Global Markets Inc. as dealer manager in a cash tender offer by Gannett Co., Inc. to purchase any and all of its outstanding floating rate notes due 2009. There was an aggregate principal amount of $730.6 million of notes outstanding prior to the tender offer. Approximately 13.5% of the outstanding principal amount of notes, representing an aggregate principal amount of $98.4 million of notes, were tendered and accepted for purchase in the tender offer. The purpose of the tender offer was to reduce the effective interest rate on a portion of Gannett’s outstanding indebtedness. The tender offer was launched on December 4, 2008 and expired on December 11, 2008.

Gannett is a leading international news and information company that publishes 85 daily newspapers in the United States, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 900 non-daily publications in the United States and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes 17 daily paid-for titles, approximately 300 weekly newspapers, magazines and trade publications, and a network of award-winning websites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including, one of the most popular news sites on the web.