Citadel, Entercom Threatened With NYSE Delisting
September 30, 2008 at 12:05 PM (PT)
CITADEL BROADCASTING CORP. gets another delisting threat from the NEW YORK STOCK EXCHANGE. The company has received notice that its stock price has been below the NYSE's criteria for listing for over 30 days, requiring CITADEL to submit a business plan within 45 days demonstrating how the company will regain compliance.
The company, in a press release, says it plans to cure the deficiency and return to compliance. CITADEL was previously hit with a delisting notice in SEPTEMBER.
CITADEL (CDL) closed at $0.17 yesterday on the NYSE. Follow the company's stock here.
Meanwhile, ENTERCOM has received its own delisting notice. The company has six months to bring its share price and average share price over $1.
ENTERCOM (ETM) closed at $1.07. Follow their stock here.
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