Gabelli Solicits Potential Cablevision Board Members
Gamco Investors chief wants executives with cash flow, corporate-governance experience.
By Mike Farrell -- Multichannel News -- Broadcasting & Cable, 9/25/2008 10:48:00 AM
Gamco Investors, the Rye, N.Y.-based mutual fund headed by activist investor Mario Gabelli, increased its position in Cablevision Systems and is soliciting other shareholders to put together a possible slate for the MSO’s board of directors.
In a Securities and Exchange Commission filing Sept 25, Gamco revealed that it spent about $14 million to increase its position in Cablevision to 19.7 million shares, or about 8.4% of the 233.7 million Cablevision shares outstanding.
But perhaps even more interesting was Gamco’s revelation in the filing that it is also “considering contacting individuals concerning their interest and their qualification to serve on the board of directors of certain public companies, including [Cablevision].”
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