NEW YORK — The Soohyung Kim-backed MediaCo is considering a reverse stock split to combat a sub-$1 share price that puts it out of compliance with Nasdaq’s minimum bid threshold, a matter that has resulted in a resolution warning.
Nasdaq on December 19 shared the news that “MDIA,” which trades on the Nasdaq Capital Market, failed to meet the minimum bid price requirement for continued listing. The rules require MediaCo to lift its closing bid price to at least $1.00 per share for 10 consecutive business days to return to compliance, and it has until June 17, 2026 to do so.
If MediaCo cannot accomplish this, the broadcast media company superserving multicultural audience will not be immediately removed from the market. That’s because the company could qualify for an additional 180-day extension, provided it meets other listing standards and notifies Nasdaq of plans to remedy the deficiency.
And, should MediaCo be ultimately unable to regain compliance, the company would have the right to appeal any formal delisting decision by Nasdaq.
Shares of “MDIA” completed Monday’s trading at 63 cents; they’ve been under $1 since December 1 with respect to session trading values but have not closed above $1 since November 3.
Based on data reflecting the end of the third quarter of 2025, Soo Kim’s Standard General is the lead shareholder of MediaCo, with some 35.43 million shares valued at $22.57 million. The second-largest shareholder is Blackrock Inc., with 35.28 million shares valued at $22.48 million.
MediaCo reported an 18.5% year-over-year revenue gain for Q3 2025, reaching $35.4 million, driven by digital and video advertising growth. However, higher expenses and a sharp non-cash accounting swing led to a $17.9 million net loss for the quarter.
MediaCo is hardly the lone radio station ownership group to have received such a Christmas greeting from a stock exchange. This time last year, Cumulus Media received a notice in December 2024 after its stock traded below $1.00 for 30 straight days. Beasley Media Group was warned in October 2023 and regained compliance through a 1-for-20 reverse stock split in September 2024. Salem Media Group was notified in June 2023 but voluntarily delisted from Nasdaq in early 2024, moving to the OTCQX Market to cut costs.
MediaCo is led on a day-to-day basis by Albert Rodriguez and owns and operates the Estrella Media Spanish-language radio and TV broadcasting company, in addition to WQHT “HOT 97” and WBLS in New York.
— Reporting by Cameron Coats, in Troy, N.Y. Additional reporting by Adam R Jacobson
