Tuesday, April 14, 2009

McClatchy's market cap down to $31.3 million

Major shrinkage going on at McClatchy... the company's market cap has shrunk to $31.3 million as of close of business Tuesday.
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7 comments:

Anonymous said...

bubbling under - farewell MNI!
I will miss you.

Anonymous said...

I have a question? I was looking at Lee Enterprises and they have a market cap of 16.7 million and the SEC wanted them to get to 25 million to stay listed from what I read. Are there different market caps for different companies?

Anonymous said...

I meant NYSE in the last post

Anonymous said...

Now I generally don’t like to watch the water gurgle down a flushing toilet, but with MNI I make a joyous exception

Anonymous said...

Are there different market caps for different companies?

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There is a temporary reduction for Market Cap triggers in effect until June I believe. That said, even the old trigger of 25 million is not something set in stone for any company. A de-listing is contingent on multiple factors and reviewed on a case by case basis. Both Lee and McClatchy will eventually be de-listed as they cannot present a sustainable plan that will satisfy minimum pricing and market cap minimums going forward.

I can't speak of Lee, but McClatchy default is as inevitable and certain as the sun will rise tomorrow. It is a matter of math. All the positive PR, management assurances, good feelings, and blind faith in the world can't change the fact that it is mathematically impossible for them to survive under the current structure.

Anonymous said...

4:52 Thanks for the information

Anonymous said...

MNI De-listing or De-lousing?