Unpatriotic? Blockbuster Says It Expects to Be Delisted From the New York Stock Exchange

Jul 2, 2010  •  Post A Comment

Blockbuster said it expects to be delisted from the New York Stock Exchange after the troubled money-losing video-rental chain failed to get a reverse-split plan approved by shareholders, Bloomberg News reports.

The company had asked shareholders to approve a plan for a reverse split by as much as 1-for-25, which would have boosted its stock price and helped it meet the NYSE’s listing requirements, the article says.    

Regular trading of Blockbuster shares were halted, with the stock’s last quote at 23.1 cents, the story says, and the company had a market value of $47.2 million. Before the vote, Blockbuster had said its shareholders had backed the plan for the reverse split.


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