Gamco, Gabelli continue to cut stake in Young Broadcasting

By Lisa Kerner

Charlotte, N.C., June 26 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC sold 438,180 shares of Young Broadcasting Inc. between June 23 and June 25, reducing their ownership interest in the company to 14.81%, from 18.05% on June 5.

According to a schedule 13D filed with the Securities and Exchange Commission, the shares were priced from $0.08 to $0.25 each.

The investors sold 266,982 shares of Young Broadcasting between May 8 and June 3 priced from $0.31 to $0.50 each, a prior SEC filing stated.

Gamco, Gabelli and its affiliates beneficially own 3,151.479 shares of the New York-based television station owner.

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