From Radio Online...
Cumulus Media has received a notification from NASDAQ indicating that, as a result of the company's non-compliance with NASDAQ listing rules, shares of its Class A common stock will be delisted on November 22. This after the bid price closed below $1.00 per share for the last 180 business days without regaining compliance. However, Cumulus has been approved to trade on the OTC market under the same ticker -- CMLS -- beginning November 22.
In an 8K filing with the SEC, "The transition to the quotation of the company's Class A common stock on the OTCQX will have no effect on the company's business or operations. The company will continue to file periodic and other required reports with the SEC."
In Chicago, Cumulus owns the Loop, WLS-AM & FM, and 101.1FM.
