Weitz Reduces Cumulus Stake
January 31, 2011 at 4:12 AM (PT)
Investor WALLACE R. WEITZ' WALLACE R. WEITZ AND CO. has reduced its holdings in CUMULUS MEDIA, INC. to 1.9 million shares (5.9% to 5.37%), according to an SEC Form SC 13G/A filing on FRIDAY (1/28). WEITZ's holdings went down by 20,000 shares (1.04%) in fourth quarter.
WALLACE R. WEITZ AND CO. remains CUMULUS' second-largest shareholder, behind DIMENSIONAL FUND ADVISORS, which has reduced its ownership by 1.93% to 7.8% of the company. His WEITZ PARTNERS III OPPORTUNITY FUND is the largest mutual fund holder in CMLS, owning 3.82%, while the WEITZ HICKORY FUND is the fourth largest mutual fund shareholder in the company at 1.58%.