Monday, April 20, 2009
New York Stock Exchange gives McClatchy 45 days to come up with a plan to boost market cap and shareholder equity
McClatchy informed investors in an 8-K filing today that the NYSE has given the company 45 days to come up with a plan to get into compliance with listing standards. NYSE-listed companies have to maintain a market cap and shareholder equity of at least $75 million, and MNI is below those minimums. After the plan is filed, McClatchy will have 18 months to come up to the listing standards.