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Young Broadcasting investors cut stake to 5.39%
By Lisa Kerner
Charlotte, N.C., Jan. 5 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC sold 245,000 shares of Young Broadcasting Inc. stock between Nov. 25 and Jan. 2 at prices from $0.0309 to $0.0390 per share, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.
With the sale, the investors reduced their stake in the company to 5.39% from 6.51%.
In a prior SEC filing, Gamco and Gabelli reported the sale of 235,000 shares of Young Broadcasting between Oct. 16 and Nov. 24 at prices from $0.0355 to $0.1002 per share.
Gamco, Gabelli and their affiliates beneficially own 1,176,000 shares of the New York-based television station owner.
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