You will be redirected back to your article in seconds

SEC clears Claxson deal

El Sitio heading towards Nasdaq delisting

MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group.

A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7.

Claxson will be comprised of El Sitio, pay TV programmer Cisneros TV Group, Chilean broadcaster Chilevision, Radio Chile and some Caribbean holdings.

Nasdaq, however, informed El Sitio on Aug. 15 that the company’s stock failed to meet a minimum bid price for continued listing and would be subject to delisting effective Thursday.

El Sitio plans to appeal the ruling. Its shareholders approved a 1-for-10 reverse stock split on Aug. 8, a move apparently designed to prevent the delisting of the stock, which has traded for less than $1 for several months.

More Digital

  • Snapchat logos

    Snap Lays Off Recruiters as It Prepares for Slower Hiring (Report)

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

  • Lockhart_Steele

    Vox Media Editorial Director Lockhart Steele Fired for Sexual Harassment

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

  • Chelsea Handler Netflix trailer

    'Chelsea' Proves Netflix Can't Always Beat TV at Its Own Game (Opinion)

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

  • Twitter outage

    Twitter to Ban Groups Promoting Violence, Hate Symbols

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

  • Echo Fox - Yankees - esports

    New York Yankees Invest in eSports Holding Firm Backed by Ex-NBA Star Rick Fox

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

  • Thomas and Friends- Big World! Big

    International Newswire: Mipcom Sees First Signs of Peak TV Animation

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

  • The Walking Dead 360 Experience: Negan

    'Walking Dead' Claws Deeper Into VR in AMC's New Virtual-Reality App

    MIAMI — The Securities and Exchange Commission has declared effective the planned merger of Internet company El Sitio and Hicks Muse-Cisneros Group joint venture Ibero-American Media Partners to form Claxson Interactive Group. A final shareholder vote, the last step before the merger is completed, is scheduled for Sept. 7. Claxson will be comprised of El […]

More From Our Brands

Access exclusive content