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Thursday, January 29, 2009

A number of radio companies may not face delisting thanks to new NYSE rules

A recent rule change by the New York Stock Exchange that temporarily lowers the market capitalization rules for delisting could benefit companies like Sirius XM (SIRI), Emmis Communications (EMMS), Citadel (CDL), and Regent Communications (RGCI). They've all faced potential delisting warnings due to their low market caps. Markets worldwide, including the NYSE, are plagued by companies that have fallen on hard times due to the credit crisis, market sell-off, and the recession. In 2008, NYSE delisted 53 companies for failure to maintain listing requirements, including Westwood One (WWON.OB). Partly to avoid possible delisting, Saga Communications (SGA), announced a 1 for 4 share reverse-stock split that goes into effect Thursday. You can track the stocks of these companies by clicking here.

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