Wednesday, January 16, 2013

ONE DOWN...

Our boycott of Rush Limbaugh's advertisers has almost crushed Dial Global:
Dial Global moves closer toward voluntarily de-listing itself from NASDAQ.
The process took longer than anticipated. Last November 15, Dial Global expected that “the de-listing will take effect on or about December 6.” That announcement precipitated a one-day drop in “DIAL” stock from $2.02 a share to 47 cents. It closed yesterday at 29 cents, as the company filed its Form 15 – “suspension of duty to file reports.” It listed 263 holders of the common stock. Back before Thanksgiving, Dial Global said “the board considered numerous factors, including the compliance costs” associated with being public and “the relatively limited historical volume of trading.” The syndicator probably also was caught up in the advertiser response to Rush Limbaugh’s February 29, 2012 remarks about Georgetown student Sandra Fluke. Rush is syndicated by Premiere Networks, but the cold draft was felt around the talk radio world.

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