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Bye Bye Regent

S

SeenItAll

Guest
The trade publications are reporting that Regent is about to be delisted on the stock exchange.This will set off a whole chain of events, none of which are good. They will be looking to sell many markets including Utica.Is it true that Regent paid over 30 large for Utica? If so, what would that be worth today and who would buy it?
 
No glee should be taken from Regent's demise.

Granted, we here frequently direct our ire at the management boobs and corporate suits that make ridiculously poor decisions, but in the end, it's always the poor workin' stiffs that are programming three stations and voice-tracking three more who are hurt in situations like this.

De-listing on NASDAQ or NYSE doesn't necessarily mean curtains for a company, although as pointed out, it's not good.

Market cap (shares held and value thereof), float and other technicals will be brought into play. NO lending company, major shareholder or venture capital group wants to call loans and debt right now because they know the economic environment is so putrid. They'd rather let the radio operators operate the facilities. This too has a downside because the operators will be told to cut wages, benefits and staff. The question is, how much more can they cut? The GM also will be the PD, do mornings, production, sell and voicetrack nights on three stations.

These are not good times economically speaking. (Understatement)
 
Not So Fast

Let's not be too hasty. Regent has 6 months to get the stock back up above $1.00 for 10 consecutive days. If that doesn't happen, they can appeal, which could get them another 180 days to push the stock price up.

So far, what we have is an embarrassment, but hardly the end of the company. Their 3rd quarter financial statement showed a continuing increase in total revenue, profit, and operating income. In fact, they're in the black for the 3rd quarter - the first time that's happened this year. The balance sheet is improving, as is cash flow.

There was an apparent attempt to manipulate Regent stock in order to get control of the Board of Directors. The original intent was to "pull a Clear Channel" and either take the company private, or force a sale of assets. Since radio station sale prices are in the toilet, that's no longer a lucrative option.

Regent wrote down the value of their stations, which hurt the balance sheet, and has been buying back stock. Earnings per share are up sharply in the 3rd quarter, which will help the stock price. Most analysts expect them to get back over the $1.00 level.

Of course, that doesn't mean that there won't be more "tighten, lighten, and brighten" going on.
 
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