Gamco, Gabelli report 6.27% stake in Salem Communications

By Angela McDaniels

Seattle, Oct. 11 - Salem Communications Corp. investors led by Gamco Investors, Inc. and Gabelli Funds, LLC purchased 190,845 shares between Aug. 9 and Oct. 1 for $7.68 to $10.05 each.

They also sold 84,400 shares at between $7.72 and $10.40 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Following the purchases, the investors beneficially own 1,147,545 shares, or 6.27%, of the Camarillo, Calif.-based radio broadcaster, internet content provider and magazine publisher.

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