Gamco ups stake in Fisher Communications to 17.38%

By Lisa Kerner

Charlotte, N.C., Feb. 26 - Investors led by Gamco Asset Management, Inc. and Gabelli Funds, LLC bought an additional 131,960 shares of Fisher Communications, Inc., increasing their stake in the company to 17.38% from 16.30%.

The shares were purchased between Jan. 2 and Feb. 22 priced from $30.92 to $38.00 each, according to a schedule 13D filing with the Securities and Exchange Committee.

The investors beneficially own some 1.51 million shares of the company's outstanding stock.

In November, Gamco Investors, Inc. submitted a proposal for inclusion at Fisher Communications' 2008 annual meeting in order to change the company's bylaws. As previously reported, the proposal would require shareholder approval in order for Fisher Communications to engage in a transaction in which the company would pay more than $25 million.

Seattle-based Fisher Communications owns television and radio stations.

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