I occasionally write here about media issues, and it's always fun kicking the Snooze, the tea-sippers of Texas newspapers.
Per the header?
Reading between the lines of a Belo announcement, I think that's exactly the case.
Earlier this month, A.H. Belo said it was leaving the New York Stock Exchange for NASDAQ. Specifically, it's headed for NASDAQ's Capital Market. Why?
Learning more about that Capital Market is, I think it was in danger of being delisted.
NASDAQ Capital Market, per Investopedia:
The Nasdaq Capital Market is one of Nasdaq's U.S. market tiers containing early-stage companies that have relatively lower market capitalizations. Listing requirements for companies on the Nasdaq Capital Market are less stringent than for the two other Nasdaq market tiers, which focus on larger companies with higher market capitalization.
More on the Capital Market here further confirms this idea.
In short, Belo, a one-newspaper (Dallas Morning News, aka the Snooze) with adjuncts like Al Dia, and a digital marketing agency that must not be doing THAT well, doesn't have much money on tap. This is kind of like NASDAQ's "penny stocks" wing.
One thing that I'm kind of curious about: why didn't it go to the former AMEX instead? Is the bottom tier of NASDAQ even weaker?
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