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New Media Announces Pricing of Public Offering of Common Stock

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New Media Investment Group Inc. (“New Media” or the “Company”, NYSE:NEWM) announced today that it priced its public offering of 6,500,000 shares of its common stock for gross proceeds of approximately $105,625,000 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 950,625 shares of common stock. The offering is expected to close on September 23, 2014, subject to customary closing conditions.

New Media intends to use the net proceeds from this offering for working capital and other general corporate purposes, which may include potential investments in, and acquisitions of, local media businesses and assets.

Citigroup and Credit Suisse Securities (USA) LLC are the joint book-running managers for the offering. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from: Citigroup, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (800) 831-9146; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, Telephone: (800) 221-1037, Email: newyork.prospectus@credit-suisse.com.

A registration statement relating to these securities was declared effective on September 17, 2014 by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About New Media Investment Group Inc.

New Media is focused primarily on investing in a high quality, diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses. The Company is one of the largest publishers of locally based print and online media in the United States as measured by the number of daily publications. The Company operates in over 360 markets across 27 states. New Media’s portfolio of products which include over 440 community publications, over 365 related websites, and six yellow page directories, serve more than 130,000 business advertising accounts and reach over 12 million people on a weekly basis.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the offering and intended use of proceeds. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, the risk that the Company could have a material and adverse impact on advertising and circulation revenues and on our profitability; the risk that uncertainty and adverse changes in the general economic conditions of markets in which we participate may negatively affect our business; the risk that our ability to generate revenues is correlated with the economic conditions of two geographic regions of the United States; the risk that our indebtedness and any future indebtedness may limit our financial and operating activities and our ability to incur additional debt to fund future needs or dividends; the risk that the New Media Credit Agreement, as defined in our most recent periodic filing with the SEC, contains covenants that restrict our operations and may inhibit our ability to grow our business, increase revenues and pay dividends to our stockholders; the risk that we may not generate a sufficient amount of cash or generate sufficient funds from operations to fund our operations, pay dividends or repay our indebtedness; the risk that we may not be able to pay dividends in accordance with our announced intent or at all; the risk that the collectability of accounts receivable under adverse economic conditions could deteriorate to a greater extent than provided for in our financial statements and in our projections of future results; the risk that our Predecessor’s voluntary petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code, as defined in our most recent periodic filing with the SEC, could adversely affect our ability to obtain new financing to fund our operations and strategic initiatives or to refinance our existing debt at attractive rates; the risk that there is a significant increase in the price of newsprint or a reduction in the availability of newsprint and our results of operations and financial condition suffer; and the risk that we may not realize all of the anticipated benefits of the synergies between our recent or potential future acquisitions. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release.

For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” in the prospectus related to the offering. In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

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