NYSE accepts accepts Blockbuster's compliance plan
DALLAS Blockbuster announced that the New York Stock Exchange has accepted the company's plan to regain compliance with the NYSE's minimum average market capitalization requirement. As a result, Blockbuster's common stock will continue to be listed on the NYSE, subject to quarterly reviews by the Exchange to monitor the company's progress against the confidential plan and subject to the company's compliance with the other NYSE continued listing requirements.
On March 24, the NYSE notified Blockbuster that it had fallen below the NYSE's continued listing standard requiring that it maintain an average market capitalization of at least $75 million over a consecutive 30 trading-day period. With the acceptance of the confidential plan, Blockbuster has until September 2011 to comply with the average market capitalization standard.