The McClatchy Co. said Monday it’s no longer in danger of being delisted by the New York Stock Exchange.
Sacramento-based McClatchy, which owns The Sacramento Bee, said it has been notified by the exchange that the company’s stock is back in compliance with listing standards.
The exchange warned McClatchy of possible delisting in mid-August because of its drooping share price. Shares must remain at $1 or higher over a period of 30 straight trading days. Since then, however, McClatchy stock has climbed back over that threshold. The 30-day average through Oct. 30 was $1.24.
If McClatchy had been delisted, it could have found a home on a less-prestigious exchange.
McClatchy shares closed Monday at $1.46, up 7 cents.