Apollo takes on Wall Street with massive New Media newspaper loan deal

Apollo Global Management LLC has agreed to provide nearly $1.8 billion of debt financing to support New Media Investment Group Inc.’s acquisition of Gannett Co. Apollo's move is more in line with behavior of a Wall Street bank than a private equity firm. / BLOOMBERG NEWS FILE PHOTO/JOHN TAGGERT
Apollo Global Management LLC has agreed to provide nearly $1.8 billion of debt financing to support New Media Investment Group Inc.’s acquisition of Gannett Co. Apollo's move is more in line with behavior of a Wall Street bank than a private equity firm. / BLOOMBERG NEWS FILE PHOTO/JOHN TAGGERT
NEW YORK – Apollo Global Management LLC has made its most significant move yet to encroach on a corner of finance long dominated by Wall Street banks. The private equity firm has agreed to provide nearly $1.8 billion of debt financing to support New Media Investment Group Inc.’s acquisition of Gannett Co., in a deal…

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