Westwood One (WON) Suspended From Trading on NYSE
Westwood One, Inc. (NYSE: WON) was notified earlier today by the New York Stock Exchange (the "NYSE") that the Company's common stock (ticker: WON) will be suspended from trading on the NYSE prior to the market open on Monday, November 24, as a result of the Company's failure to maintain a minimum $25 million market capitalization level.
The Company intends to trade on the OTC (over the counter) Bulletin Board beginning on Monday, November 24. The Company is presently considering whether it wishes to appeal the decision of the NYSE to delist the Company's common stock from the exchange. The Company is continuing to assess a possible listing on the AMEX or NASDAQ, each of which would require a reverse stock split and shareholder approval, and could be affected by the Company's decision whether to appeal the NYSE decision.
Westwood One, Inc. supplies radio and television stations with information services and programming.[SM]
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