Real estate sale proceeds reduce Projo parent’s debt by $22.3M

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GANNETT CO., parent of The Providence Journal and other local newspapers, says it is using proceeds from real estate sales to reduce its first debt lean by $22.3 million, and more real estate sales are expected later this year. / PBN FILE PHOTO/ARTISTIC IMAGES
GANNETT CO., parent of The Providence Journal and other local newspapers, says it is using proceeds from real estate sales to reduce its first debt lean by $22.3 million, and more real estate sales are expected later this year. / PBN FILE PHOTO/ARTISTIC IMAGES
PROVIDENCE – Gannett Co., parent of The Providence Journal and other local newspapers, announced Friday that it used the proceeds from real estate sales totaling $21.3 million in January to reduce its first debt lien by $22.3 million.  The McLean, Va.-based company said about $5 million of the proceeds went to repurchase about $6.1 million…

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