Citadel To Be Delisted By NYSE
February 27, 2009 at 5:28 AM (PT)
The NEW YORK STOCK EXCHANGE has announced that it has rejected CITADEL BROADCASTING CORP.'s proposed business plan and will delist the company's stock prior to the market open on MARCH 6th. CITADEL will move to over-the-counter trading under a symbol yet ot be determined.
CITADEL has been trading at under $1 per share with a market capitalization of under $75 million for longer than the 30 day limit for continued listing on the NYSE.