Radio One Gets NASDAQ Delisting Warning For Class D Shares
October 23, 2008 at 5:12 AM (PT)
RADIO ONE has received notice from NASDAQ that its Class D shares are in danger of delisting. The stock's value has been below the $1 per share threshold for more than 30 consecutive business days.
New emergency rules in place to address the economic troubles on WALL STREET will delay the tolling of the period for the stock to get back into compliance until JANUARY 16th, meaning RADIO ONE will have until JULY 20th, 2009 to raise the Class D stock price above a dollar for 10 consecutive business days. The ruling does not affect the company's other classes of shares.