Salon Media Group, publisher of the news and opinion Web site Salon.com, said Thursday that its stock has been moved to the over-the-counter market. It had been trading on Nasdaq's SmallCap Market under the symbol "SALNC."
"While we valued the prestige of a Nasdaq listing, this move to the OTC market should not affect our core business," Salon CEO Michael O'Donnell said in a statement. "Our focus has been and will continue to be on the fundamentals--growing our business by subscription revenues and delivering compelling advertising solutions for our customers." He added that if business improves, the company will reapply for listing on Nasdaq.