The McClatchy Company has been warned by the New York Stock Exchange that it is not in compliance with the exchange’s listing criteria, according to a company statement. McClatchy received the notification on April 14.
The company has fallen below the exchange’s average $75 million capitalization requirement during 30-day period, in violation of the exchange’s rules. According to McClatchy, its last reported stockholders’ equity was $52.4 million, also below a $75 million requirement.
Additionally, the company’s average share price during a 30-day period has fallen below $1, in violation of the exchange’s rules. The New York Stock Exchange has suspended this requirement, however, through June 30. McClatchy’s stock closed at 58 cents per share last Friday.
McClatchy is a newspaper company which also runs direct marketing and direct mail operations. Roughly a decade ago, McClatchy very briefly was the parent company of Direct Newsline.
