LIN TV investor Gamco hires investment bank to represent shareholders' interests

By Lisa Kerner

Charlotte, N.C., May 31 - LIN TV Corp.'s largest class A shareholder Gamco Asset Management Inc. retained Caymus Partners LLC to represent shareholders' interests as the company explores strategic alternatives, including a possible sale of the company, with the assistance of J.P. Morgan Securities, Inc., a company news release stated.

Gamco chairman Mario J. Gabelli said in the release that "the dynamics in the private equity market" led him to seek the assistance of the middle-market investment bank.

"Our engagement by Gamco represents a growing trend among large institutional investors and other stakeholders who have a strong desire to have investment banking representation as companies in which they have a significant interest explore exiting the public markets and other strategic," Caymus managing partner J. Oliver Maggard said in the release.

On May 30, Gamco and its affiliates reported ownership of 4,859,387 shares, or 17.82%, of LIN TV's outstanding stock in a schedule 13D filing with the Securities and Exchange Commission.

LIN TV, based in Providence, R.I., owns and operates television stations.

Gamco Investors, Inc., is based in Rye, N.Y. and, through its subsidiaries, manages private advisory accounts, mutual funds and closed-end funds.

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