Gabelli and Gamco increase ownership of LIN TV by almost 3%

By Lisa Kerner

Charlotte, N.C., Aug. 9 - LIN TV Corp. investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. purchased 245,800 shares of the company's stock between July 12 and Aug. 7, priced from $11.27 to $19.11 each, according to a schedule 13D filed with the Securities and Exchange Commission.

The reporting persons beneficially own 5,501,587 shares, or 20.17% of the Providence, R.I. television station company's outstanding stock.

On May 30, Gabelli and Gamco owned 4,859,387 shares, or 17.82% of LIN TV, up from the 16.76% stake the investors reported on May 22.

In a previous SEC filing, Gabelli and Gamco said they "may retain other investment bankers to make sure that our clients are participants in any attempts to surface the underlying values in going-private transactions where management or insiders are participants." On May 18, LIN TV announced it will explore strategic alternatives, including a possible sale of the company, with the assistance of J.P. Morgan Securities Inc.

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