Gamco and Gabelli up stake in Media General to 21.93%

By Lisa Kerner

Charlotte, N.C., Feb. 13 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC bought 333,250 shares of Media General, Inc. stock between Dec. 10 and Feb. 11.

The shares were priced from $16.09 to $22.76, according to a schedule 13D filing with the Securities and Exchange Commission.

In November 2007, Gamco said it would support the nomination of F. Jack Liebau for election to the company's board at the 2008 annual meeting.

The investors beneficially own 4,835,947 shares, or21.93%, of the Richmond, Va., communications company.

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