NYSE threatens to de-list McClatchy

Editor & Publisher reports that McClatchy Co. was warned by the New York Stock Exchange that it is no longer "in compliance with listing standards." As of Friday, McClatchy's market capitalization of $48.17 million was below the Big Board's required minimum market cap of $75 million. McClatchy's market cap has been below the minimum for 30 consecutive days, which triggered the NYSE's warning.  

On Friday, McClatchy shares closed at 58 cents. The company says it plans to submit "a plan to get its market cap into compliance."

But McClatchy is not the first newspaper company facing de-listing. 

Last year, Journal Register Co., GateHouse Media Inc., and Sun-Times Media Group were de-listed from the NYSE because their market capitalization had fallen below minimums and because they were trading for less than $1. The stock exchange has suspended the dollar-per-share minimum until June 30 as a result of the financial meltdown.

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