Westwood One leaving the NYSE


Westwood One has been notified by the New York Stock Exchange that its stock will no longer trade on the NYSE, effective with the market open on Monday, November 24th, because of its failure to maintain a minimum $25 million market capitalization. WW1 said it is considering whether to appeal, but it intends to have its stock continue to trade on the over-the-counter bulletin board beginning on November 24th. It is also considering a listing on the AMEX or Nasdaq, which would require a reverse stock split and shareholder approval. The company says it is in active negotiations with its lenders and bondholders to restructure its debt.