• by David Goetzl  @dgoetzl, January 27, 2009

Burdened by what some investors believe is a prominent asset with a questionable future and more broadly, the overall malaise in the ad market, station group Young Broadcasting has been delisted from the NASDAQ.

The move ends a months-long struggle as Young's share price has dropped to the 3 cents range, and the company engaged in negotiations with NASDAQ committees.

Young has now shifted trading to an over-the-counter market--where requirements to maintain listing are considerably lower--and began trading there Tuesday. It was an inauspicious start, as the share price dropped an additional 33%.

Young is not the only station group to have received notices from NASDAQ and the New York Stock Exchange about possible delisting. The list also includes Gray Television, Entravision and Lin TV. Both have failed to meet financial requirements, such as continued trading of a share price of $1 or above, or maintaining market cap floors--although the delisting process is a lengthy one.

Investors have soured on Young's inability to sell KRON, its MyNetworkTV affiliate in San Francisco. Its portfolio also includes ABC affiliates in Nashville, Tenn., and Albany, N.Y.

NASDAQ first notified Young that a delisting was possible in February 2008. The company does not intend to appeal the NASDAQ hearing panel's determination.