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Third Point sells shares, has less than 5% stake in Entertainment Distribution
By Lisa Kerner
Charlotte, N.C., Jan. 3 - Entertainment Distribution Co., Inc. investors led by Third Point LLC sold 2,018,500 shares of the company's stock, reducing their ownership in the company to 4.1%.
The shares were sold between Dec. 26 and Jan. 3 priced from $0.591 to $0.709 each, according to a schedule 13D filing with the Securities and Exchange Commission.
The reporting persons beneficially own 2.9 million shares of the New York-based pre-recorded multimedia company's outstanding stock.
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