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Gamco, Gabelli continue to invest in Young Broadcasting
By Lisa Kerner
Charlotte, N.C., Jan. 10 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC increased their stake in Young Broadcasting Inc. to 20.63% from 19.52% with the purchase of an additional 233,200 shares of the company's stock.
The shares were purchased between Dec. 31 and Jan. 8, priced from $0.79 to $1.10 each, according to a schedule 13D filing with the Securities and Exchange Commission.
The reporting persons beneficially own 4,324,380 shares of the New York-based television station owner/operator's outstanding stock.
On Dec. 21 Gamco and Gabelli owned 3,872,480 shares, or 18.48%, of Young Broadcasting.
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