Projo Biz Blog

Providence-based LIN TV Corp., the broadcasting company that owns WPRI (Channel 12) said it received notice from the New York Stock Exchange that it is not meeting certain requirements to continue to be listed on the New York Stock Exchange.

The company is considered below the standards because the average market capitalization of its Class A common stock over a consecutive 30 trading-day period was less than $75 million.

Under NYSE regulations, the company has 45 days from the receipt of the notice to submit a business plan that demonstrates its ability to restore compliance with the continued listing criteria within 18 months. The company has notified the NYSE of its intention to submit this plan on a timely basis.

Stock in LIN (TVL:NYSE) closed Wednesday at $1.47 a share, down 17 cents a share.

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