Nasdaq puts delistings on hold


Radio One – radio group owner and part owner of TV One – is the latest broadcaster to receive notice from Nasdaq that its stock price has fallen below the minimum threshold of a buck a share for 30 consecutive business days. Normally that would be accompanied by a delisting notice, but not now. On the same day that Radio One triggered the notice, October 16th, Nasdaq decided to suspend enforcement of its bid price and market capitalization minimums. “Nasdaq noted that the prior several weeks had been marked by unprecedented turmoil in domestic and world financial markets,” Radio One said of the notice it received. The plan is to reinstate the minimums on January 19, 2009. Radio One will then have 180 days to come into compliance.