Two more radio companies, Citadel Broadcasting and Entercom Communications, the third and fourth largest radio groups in the U.S., were notified this week by The New York Stock Exchange that their shares have fallen below the continued listing criteria.
NYSE requires that companies maintain an average closing price of $1.00 per share for 30 consecutive trading days.
On Wednesday morning (Dec. 3), Entercom’s stock was barely over $1.00 at $1.07 while Citadel’s was at $0.18.
Entercom has six months to bring its average share price to $1.00.
Citadel
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