Salem Communications investor Gamco sells shares, keeps 9.86% stake

By Lisa Kerner

Charlotte, N.C., Sept. 30 - A group of investors led by Gamco Asset Management Inc. cut their stake in Salem Communications Corp. to 9.86% with the sale of 90,400 shares between July 30 and Sept. 29.

The shares were priced from $0.83 to $3.11 each, according to a schedule 13D/A filed on Wednesday with the Securities and Exchange Commission.

Gamco and Gabelli beneficially own 1,787,313 shares of the Camarillo, Calif.-based radio broadcaster, internet content provider and magazine publisher.

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