GANNETT EXITING DEAL

Gannett, the owner of USA TODAY and more than 260 other daily publications, has negotiated an early exit from a fee- based arrangement in which an investment firm has been managing the company. Gannett announced Tuesday that it will pay FIG LLC, an affiliate of Fortress Investment Group, a one- time fee of $ 30.375 million to end its management deal at the end of this year. The deal had previously been set to expire at the end of 2021. As part of the move, Gannett announced that Michael Reed, an employee of Fortress who has been serving as Gannett’s CEO and chairman, will become an official employee of the newly independent media company effective Jan. 1. He will retain his role as CEO and chairman.