NYSE Threatens To De-List Herald's Parent Company
The Miami Herald's troubles have gone way past the somewhat amusing flailings of a major daily, into serious, concerning trouble. Today the New York Stock Exchange threatened to de-list the Herald's parent company, McClatchy, unless they get their house in order.
From Editor & Publisher:
McClatchy said it had been notified on April 14 by
the NYSE that it was not in compliance with listing standards since its
market capitalization for 30 consecutive days was below the Big Board
minimum of $75 million. Shares of McClatchy, which trades under the
symbol MNI, closed Friday at 58 cents, giving it a market
capitalization of $48.17 million.
McClatchy says it will submit a plan to bring it back up to NYSE standards.
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