Gamco, Gabelli report 9.7% stake in Salem Communications

By Lisa Kerner

Charlotte, N.C., Oct. 28 - Salem Communications Corp. investors including Gamco Asset Management Inc. and Gabelli Funds, LLC upped their stake in the company to 9.7% with the purchase of 104,241 shares between Aug. 28 and Oct. 27.

The shares were priced from $0.8615 to $1.90 each, according to a schedule 13D/A filing with the Securities and Exchange Commission.

Gamco and Gabelli beneficially own 1,757,941 shares of the Camarillo, Calif.-based radio broadcaster, internet content provider and magazine publisher.

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