"Adjusted EBITDA -- $12 million, representing a 61% increase year over year, driven by cost management and digital growth. Adjusted EBITDA Margin -- 9.4%, up from 5.3%, highlighting improved profitability. Equity Investment -- $50 million in gross proceeds was raised via private placement at $3.25 per share, materially strengthening the balance sheet. Interest Rate Reduction -- The credit agreement was amended to lower the interest rate on $455 million of debt from 9% to 5% for five years, generating an estimated $18 million in annual interest savings and up to approximately $90 million over five years."
"Digital Revenue -- Over $70 million in the quarter, constituting over 54% of total revenue, with digital mix improving by 330 basis points year over year. Digital-Only Subscription Revenue -- $23 million in the quarter (5% growth), with 609,000 digital-only subscribers. Digital Advertising Revenue Mix -- Digital comprises 71% of total advertising revenue. Digital Revenue Target -- The company is targeting $450 million in digital revenue by 2030."
"Pension Plan Termination -- The defined benefit pension plan was terminated with sufficient assets, eliminating future cost uncertainty. Asset Monetization -- $26 million in non-core assets are being targeted for sale to support debt reduction. Huddl Partnership -- New sports technology partnership with Huddl aims to expand local sports video content and deepen community engagement. Total Cash Cost Reduction -- $17 million year over year, mainly from headcount and legacy print cost reductions."
Adjusted EBITDA was $12 million, a 61% year-over-year increase driven by cost management and digital growth. Adjusted EBITDA margin rose to 9.4% from 5.3%, reflecting improved profitability. The company raised $50 million via a private placement at $3.25 per share, bolstering the balance sheet. The credit agreement was amended to reduce interest on $455 million of debt from 9% to 5% for five years, producing estimated annual savings of $18 million. Digital revenue exceeded $70 million, representing over 54% of total revenue, and the company targets $450 million in digital revenue by 2030. The defined benefit pension plan was terminated with sufficient assets, and $26 million of non-core assets are targeted for sale to support debt reduction.
Read at The Motley Fool
Unable to calculate read time
Collection
[
|
...
]