Saturday, September 14, 2019
THE TKC SATURDAY NIGHT PLAYLIST!!! DEAD-TREE DEMISE: KANSAS CITY STAR PARENT COMPANY STOCK FAIL PERSISTS!!!
The long goodnight of a newspaper company that owns KC's daily rag is our focus tonight.
Here's the sitch . . .
The McClatchy Co., parent of The Kansas City Star and 29 other newspapers, said Friday it’s facing possible delisting by its stock exchange, NYSE American.
Sacramento-based McClatchy said it received a warning letter Monday from the exchange, saying the company’s finances had fallen below the exchange’s minimum standards. McClatchy said the exchange cited the company’s losses in each of the past four years and its “stockholders’ deficit” of $372.5 million as of June 30. A stockholders’ deficit means the company’s liabilities exceed its assets.
Also, the company’s market value, as defined by NYSE American, falls below the $15 million minimum ...
Check the links . . .
SacBee: McClatchy could lose stock exchange listing
Yahoo: McClatchy Receives Notice From NYSE
Biz Journal: McClatchy's losses, debt put its stock exchange listing at risk
Like it or not, we're in the last days of newspaper and it looks like neither non-profit efforts nor political (read: taxpayer) cash is going to keep the money-losing biz afloat.
As always, this inspires our playlist tonight . . .
As always, thanks for reading this week and have a safe and fun Saturday night.