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Gamco, Gabelli cut stake in Young Broadcasting to 7.58%
By Lisa Kerner
Charlotte, N.C., Nov. 25 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC sold 235,000 shares of Young Broadcasting Inc. stock between Oct. 16 and Nov. 24 at prices from $0.0355 to $0.1002 per share.
With the sale, the investors reduced their stake in the company to 6.51%, from 7.58% on Oct. 16.
The transactions were included in a schedule 13D/A filed with the Securities and Exchange Commission.
Gamco, Gabelli and their affiliates beneficially own about 1.42 million shares of the New York-based television station owner.
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