Just as the ink from the deal which had Emmis Communications sell Chicago's WLUP-FM (97.9), WKXQ-FM (101.1) and New York City's WRXP-FM (101.9) to Merlin Media closed, the Nasdaq Exchange notified Emmis that they face potential de-listing with their stock price still under $1. Emmis received $120 million for the three stations, but keeps a minority stake in the deal. When Merlin Media took LMA control of the stations, the call letters for WKXQ changed to WWWN-FM, and WRXP became WEMP-FM. Emmis has until February 27, 2012 to regain compliance and must close above $1 for 10 consecutive trading days, or face de-listing from Nasdaq. This is not the first time Emmis has faced de-listing from Nasdaq. In 2010, Emmis faced a similar fate, but regained compliance this past February when their stock price held above $1 for for the minimum 10 consecutive trading days.