Gabelli’s GAMCO in Proxy Battle with Ascent Media

October 6th, 2009
| More
Diversified asset manager and financial services company GAMCO Asset Management has filed an amended 13D filing, reporting the firm’s beneficial ownership 9.58% of the outstanding shares of Ascent Media.

According to the SEC filing, GAMCO sent a request to Ascent Media for a vote on the “removal of the Issuer’s poison pill at the upcoming annual meeting.” The firm is proposing to be included the 2010 Annual Meeting of Stockholders, which would require the Asset Media’s Board of Directors to “redeem the preferred share purchase rights issued” as outlined in the poison pill agreement, designed to discourage hostile takeovers from acquiring shareholders. In the Stockholder Proposal GAMCO argues that the poison pill reduces the power of stockholders, which serves as an important check to the power of the Board, and that it prevents stockholders from determining a fair price for their holdings.

Ascent Media offers a variety of individual creative and content services to clients and focuses on full integration of every stage of development, from media solutions to post-production and publication.

GAMCO, formerly Gabelli Asset Management, manages separate accounts for high net-worth individuals, institutions and qualified pension plans, as well as the GAMCO family of mutual funds.
See Source
For Detailed Investor Profiles on these Investors, click below:
GAMCO Asset Management
Related People: Howard F. Ward; Mario J. Gabelli
Related Entities: Gabelli & Company, Inc.; Gabelli Asset Management*; Gabelli Growth Fund; Gabelli Small Cap Growth Fund; Gabelli Value Fund
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles


More Recent Headlines

Next Stop: Inflation

Och-Ziff Capital Management’s Flagship up 20% YTD, Surpasses High Water Mark

Baobab Asset Management records Solid Performance Helix Partners receives backing from Ascalon Capital

Adaptec Criticizes Steel Partners and Warren Lichtenstein

Operational Risk - Asian Institutions Sticking with Portfolio Strategies, but Questioning Use of External Managers

High-Frequency Trading blesses Citadel and Renaissance Tech with High-Profits

Toscafund halves Stake in key investment Aberdeen Asset Management

Former Marshall Wace partner launching Belay Partners

Fraud Watch: A Virtual Reality for Investors

Shamrock Activist Value Fund increases stake in Mobile Mini