Entravision Receives NYSE Warning

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Entravision Communications said Wednesday it has been warned by the New York Stock Exchange that the Spanish-language TV and radio station owner must raise its stock price in order to remain listed on the stock exchange

Entravision’s stock, which was trading at around 65 cents in mid-morning trading Wednesday, has not been able to maintain an average closing price at least $1 over a consecutive 30-day trading period.

The stock has fallen 92 percent since the beginning of the year. While viewer ratings remain high, the Santa Monica company said, advertising sales have fallen as the economy worsened.

The company, whose TV stations are the largest affiliate group of both the Univision and TeleFutura networks, last month reported a third quarter loss of $354,491, compared with a $1,377 loss a year ago.

Entravision said it expects to ask NYSE for six months to meet the continued listing standard.

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