Media General investor Gamco sells shares, drops ownership to 28.62%

By Lisa Kerner

Charlotte, N.C., Oct. 13 - A group of investors led by Gamco Asset Management Inc. decreased its interest in Media General, Inc. to 28.62% from 29.91% with the sale of 283,471 shares between Aug. 24 and Oct. 12.

The shares were priced from $7.36 to $9.68 each, according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.

Between July 20 and Sept. 4, Gamco sold 308,849 shares priced from $2.00 to $8.45 each, a prior SEC filing said.

The investor group beneficially owns 6,366,079 shares of the Richmond, Va., communications company's outstanding stock.

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