Relegated to trading on Over-the-Counter markets following poor financials.
The NASDAQ Listing Qualifications Panel denied Private's request for continued listing and suspended trading of its shares. Private does not intend to appeal the decision.
The Barcelona adult giant expects to report a net loss for calendar Q3 of around $1.75 million compared to a loss of $3.5 million in Q3 2010.
Its continued financial woes have also led to a battle for shareholder control, which has caused further de-stabilisation.
Private Media Group has a content distribution network across Internet, cable, satellite, digital TV and IPTV on 194 platforms in 42 countries.