BRIEF: NYSE says McClatchy Co. is not in compliance with two listing requirements
MNI | Quote | Chart | News | PowerRating -- The McClatchy Co., owner of The Kansas City Star, has been notified by the New York Stock Exchange that it is not in compliance with two exchange listing requirements.
The Sacramento, Calif.-based company said it is in danger of being delisted because its market capitalization fell beneath $75 million over a consecutive 30-day trading period.
The company also said it fell beneath the stock exchange's minimum stockholders' equity requirement of $75 million. In its latest annual filing with the Securities and Exchange Commission, McClatchy listed stockholders' equity of $52.4 million.
McClatchy said in a news release that it plans to bring the company in compliance with the listing standards. It has 45 days from April 14 to submit a plan.
The NYSE previously informed McClatchy that it had fallen below another listing standard -- maintaining a $1 minimum average price per common share over a consecutive 30-day trading period. McClatchy has been given until Dec. 7 to meet that standard.
Besides The Star, McClatchy, the third-largest newspaper publisher in the United States, owns 29 daily newspapers and about 50 non-dailies.
To reach Dan Margolies, call 816-234-4481 or send e-mail to dmargolies@kcstar.com.
To see more of The Kansas City Star, or to subscribe to the newspaper, go to
http://www.kansascity.com. Copyright (c) 2009, The Kansas City Star, Mo.
Distributed by McClatchy-Tribune Information Services. For reprints, email
tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax
to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,
Suite 303, Glenview, IL 60025, USA.
For full details on Mcclatchy Company (The) (MNI) MNI. Mcclatchy Company (The) (MNI) has Short Term PowerRatings at TradingMarkets. Details on Mcclatchy Company (The) (MNI) Short Term PowerRatings is available at This Link.
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