Gamco, Gabelli-led funds boost stake in ACME

By Jennifer Chiou

New York, Oct. 8 - ACME Communications, Inc. investors led by Gamco Investors, Inc. and Gabelli Funds, LLC reported an increased stake in the company after several buying and selling transactions between Aug. 11 and Oct. 7.

Following the transactions, the investors beneficially own 979,585 shares, or 6.1%, of the company, according to a schedule 13D/A filing with the Securities and Exchange Commission.

The investors held 5.02% of the company's shares on Oct. 11, 2007.

Santa Ana, Calif.-based ACME owns and operates television broadcasting stations.

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