Volume Spike Investor

Gannett (GCI), the nation’s largest newspaper chain is trading higher by a fraction to $10.

The company expects third quarter non-GAAP earnings per diluted share to be between $0.39 and $0.42, excluding special charges. Gannett expects to report total quarterly revenues of between $1.307 billion and $1.320 billion.

Gannett also said that it intends to offer $200 million of senior notes due 2014 and $200 million of senior notes due 2017 in a private offering to “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in reliance on Regulation S under the Securities Act, subject to market and other conditions. The notes will be guaranteed on a senior basis by the subsidiaries of the company that guarantee its revolving credit facilities and term loan.

Gannett plans to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facilities and term loan.

Douglas A. McIntyre