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Nassau Withdraws IPO

Nassau Withdraws IPO

Nassau Broadcasting Corp. is backing off plans to conduct an initial public offering. The Princeton, New Jersey-based group owns and/or operates 21 radio stations.
A spokesman cited recent volatility in technology stocks for the change in plans. “Radio stocks generally trade in sympathy with the technology stocks and we believe we would be better served withdrawing the offer,” said the spokesman. Nassau executives said the company has sufficient working capital and would reconsider an offering when market conditions improve.
Leslie Stimson