Business News

McClatchy Receives Compliance Notice From NYSE

Wednesday 03. June 2009 - The McClatchy Company (NYSE: MNI) reported that it has been notified by the New York Stock Exchange (NYSE) that the company is now in compliance with the exchange's continued listing standard for total market capitalization and stockholders' equity.

The NYSE received approval from the Securities and Exchange Commission (SEC) to amend the NYSE’s continued listing standard applicable to average market capitalization and shareholders equity through October 31, 2009. The average market capitalization requirement has been lowered from no less than $75 million over a 30-trading-day period to no less than $50 million over a 30-trading-day period and the stockholders’ equity requirement has been lowered from no less than $75 million to no less than $50 million.

As a result of these changes, McClatchy is now considered in compliance under the NYSE’s amended continued listing standard for market capitalization and stockholders’ equity.

McClatchy previously announced in February 2009 that it had been notified by the NYSE that it was not in compliance with the NYSE’s continued listing standard for the average price per share of the company’s Class A publicly traded common shares of less than $1.00 over a consecutive 30-trading-day period. Subsequently, the NYSE announced that this standard was temporarily suspended through June 30, 2009. As a result, McClatchy currently has until December 7, 2009, to bring the company into compliance with this listing standard.