Silver Spring, Md. - Worldspace, the provider of satellite radio services to foreign markets that earlier this month filed for Chapter 11 bankruptcy protection, said that its stock will be delisted from the Nasdaq at the opening of Thursday's trading.

The Nasdaq has discretionary authority to remove companies that have filed for bankruptcy.

Worldspace also has fallen out of compliance with marketplace rules requiring listed companies to maintain a market value of at least $50 million, as well as total assets and total revenue of at least $50 million for the most recently completed fiscal year, or two of the past three.

The company does not plan to appeal the ruling.

Worldspace filed for Chapter 11 on Oct. 17, and plans to begin the process of selling the company or its assets.

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