NYSE Threatens Citadel With Delisting
September 15, 2008 at 4:10 AM (PT)
CITADEL BROADCASTING CORP. has been notified by the NEW YORK STOCK EXCHANGE that its stock is in danger of delisting because it has remained below the minimum criteria required for listing. The stock remains on the NYSE for now, and the company, in a press release, says it plans to cure the deficiency and return to compliance.
CITADEL has been hovering between 80 cents per share and a dollar per share in recent weeks, closing at 88 cents per share on FRIDAY. The stock has fallen from $4.80 per share last OCTOBER to as low as 69 cents on JULY 16th.