Amalgamated Gadget LP has reported a 5.4 percent stake worth $31.55 million in Belo Corp. (NYSE: BLC), according to a Form 13G filing with the U.S. Securities and Exchange Commission.
The Fort Worth-based investment firm said it owned 4.93 million shares in the Dallas-based TV broadcaster. The stake’s value was based on Belo’s stock closing price of $6.40 on Friday.
Amalgamated’s stake was held on behalf of Dallas-based R2 Investments LDC. Under an investment management agreement between the two firms, Amalgamated controlled the shares and R2 was not deemed a beneficial owner of the shares.
Amalgamated’s holding was held through its general partner, Scepter Holdings Inc., of Fort Worth, and its president, Geoffrey Raynor, both beneficial owners.