Lanham, Md. – Radio One, the owner of more than 50 radio
stations focused on urban audiences, said it faces a possible delisting after
receiving notice from the Nasdaq that its stock had failed to maintain the
market’s minimum $1 share price for 30 consecutive trading days.
now has until March 21, 2011 to regain compliance, which would require its
stock to close at $1 or higher for 10 straight days.
Radio One also could apply
to transfer from the Nasdaq National Market to the Nasdaq Capital Market, which
would give the company another 180 days to comply.
The stock has closed above
$1 for 10 of the past 12 trading days.