Spanish Broadcasting System said it faces delisting by the NASDAQ Stock Market. The Coconut Grove-based network (NASDAQ: SBSA) reported that it has received a written deficiency notice stating that the company was not in compliance with the minimum bid price rule because the bid price per share of the company’s stock has closed below $1 for 30 consecutive business days. The stock must close above $1 for 10 consecutive days to regain compliance. Spanish Broadcasting System owns and /or operates 21 radio stations in the U.S., including one in Miami. Shares were up 20 cents to 71 cents in morning trading. The 52-week high was $2.94 on Sept. 5. The 52-week low was 49 cents on Aug. 22.
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