Key3Media Group Inc., the producer of Comdex and other technology trade shows, said on Friday that it will undertake a strategic review of its operations, including cost infrastructure and senior management roles, in order to remain competitive in the weakened economy.
The Los Angeles-based company said it would continue to produce its major events during this period.
The company also said the New York Stock Exchange would suspend trading of its stock on Monday and would seek to delist the company. In early afternoon trading Key3Media's stock was trading at 5 cents per share. The company said it wouldn't challenge the NYSE's decision.
Key3Media spokesman had no comment other than what was provided in its statement.
Key3Media said it intends to apply to have its shares included in the over-the-counter bulletin board to facilitate future trading.
The company reported a net loss of US$360 million in the first quarter, which ended March 31.