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Gemstar-TV Guide Faces Nasdaq Delisting

8/27/2002 08:23:00 AM Eastern

Pasadena, Calif. - Television-program guide provider Gemstar-TV Guide International has requested a hearing in response to a proposed delisting notice from Nasdaq.

The stock exchange took action because it said Gemstar had not complied with exchange rules by failing to file on time its Form 10-Q for the second quarter ending June 30, 2002.

Gemstar requested the hearing on August 23, which will be held not less than 10 days, nor more than 30 days after the date of the request.

In mid-August, Gemstar said it would delay quarterly reporting while it worked on restating financial results for the year ended 2001, checked accounting practices and considered a management restructuring proposal.