Big Board Sends Journal Register Home — With Final Gain Of A Penny

RSS
Follow by Email
Facebook
Facebook
Twitter
Visit Us
LinkedIn

By: Mark Fitzgerald

Journal Register Co. Tuesday ended trading for good on the New York Stock Exchange barely on the up side, gaining 1 cent to close at a price of 32 cents.

It was an exit from the Big Board that was predictably more a whimper than a bang, as the debt-laden publisher of the New Haven Register and the Trentonian in New Jersey ended its final trading session before it is delisted.

Volume of 1.3 million in the stock, which had the ticker symbol JRC, was more than twice its normal trading.

Journal Register has already told the NYSE it will not appeal the delisting decision, and that it will continue trading on the over-the-counter markets.

The newspaper sector was mixed with no big swings Tuesday.

Media General Inc. (MEG) was the biggest percentage loser, ending the day at $14.02, down 46 cents, or 3.18%. On Tuesday, Media General got more bad news in its proxy battle with Harbinger Capital Partners over three Class A seats on its board of directors.

The influential RiskMetrics proxy advisory firm recommended withholding votes for management’s three incumbents — and voting for two of Harbinger’s three nominees.


Leave a Reply

Your email address will not be published. Required fields are marked *