Ascent Media shareholder Gabelli to propose elimination of poison pill

By Lisa Kerner

Charlotte, N.C., Sept. 17 - Ascent Media Corp. investor Mario J. Gabelli said he will make a formal request asking shareholders to vote for the removal of the poison pill at the company's upcoming annual meeting.

Gabelli made his comments in a letter to Ascent chairman and chief executive officer William R. Fitzgerald on Thursday.

"Stated simply, poison pills are inconsistent with good corporate governance," Gabelli said in his letter, which was included in a schedule 13D/A filed with the SEC.

Gabelli and affiliates Gamco Asset Management Inc. and Gabelli Funds, LLC beneficially own 1,247,866 shares, or 9.3%, of the Englewood, Colo.-based company's outstanding shares, the filing said.

Ascent Media provides creative and network services to the media and entertainment industries in the United States, the United Kingdom and Singapore.

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