8-K 1 a08-16192_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 3, 2008

 

YOUNG BROADCASTING INC.

(Exact name of Registrant as specified in its charter)

 

Delaware

 

0-25042

 

13-3339681

(State of incorporation)

 

(Commission File No.)

 

(IRS Employer Identification No.)

 

599 Lexington Avenue

New York, New York 10022

(Address of principal executive offices)

 

Registrant’s telephone number:  (212) 754-7070

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

o

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

 

o

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

o

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

o

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 



 

 

Item 3.01.                          Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

Young Broadcasting Inc. (the “Company”) today announced that on June 3, 2008, the Company received a notice of non-compliance from the Listing Qualifications Staff of The NASDAQ Stock Market (the “Staff”) stating that the Company had not regained compliance with the minimum $15 million market value of publicly-held shares requirement for continued listing set forth in Marketplace Rule 4450(b)(3) (the “Rule”).  As a result, the Company’s securities are subject to delisting.   This notice follows the Company’s previous announcement on March 3, 2008 that it had received notification from the Staff stating that the Company’s common stock had not maintained the required minimum $15 million market value of publicly held shares  over the previous 30 consecutive trading days, and, in accordance with Marketplace Rule 4450(e)(1), providing the Company with 90 calendar days, or until June 2, 2008, to regain compliance.

 

The Company intends to request a hearing before a NASDAQ Listing Qualifications Panel to present its plan to evidence compliance with the Rule and all other applicable NASDAQ listing requirements.  The hearing request will stay the delisting of the Company’s common stock pending the Panel’s decision.  The Company cannot assure you that the Panel will grant the Company’s request for continued listing.

 

On June 6, 2008, the Company issued a press release announcing the receipt of this notice.  A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by this reference.

 

 

Item 9.01.         Financial Statement and Exhibits.

 

(d) Exhibits

 

99.1   Press Release, dated June 6, 2008.

 

 

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

June 6, 2008

YOUNG BROADCASTING INC.

 

 

 

 

 

/s/ James A. Morgan

 

James A. Morgan

 

Executive Vice President

 

 

 

 

 

 

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press Release, date June 6, 2008

 

 

 

 

 

 

 

 

 

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