Blackrock just announced about an hour before close today that they took a 5.59% position in TVL, 5.81% in GTN and 6.51% in BLC. The big money is moving in. Blackrock increased from 638,018 TVL shares as of 9-30-11 to 1,844,681 as of 12-31-11. They went from 1,063,855 GTN to 2,987,866 GTN and on BLC from 1,213,111 to 6,100,600.........that's almost 5 million BLC, almost 2 million GTN and over 1.2 million TVL......big bet on this sector.........DaninFW
Dan,Thanks for taking the time to dig into information on the Broadcasting stocks. JPMorgan and BlackRock surely believe in the section right now. Of course, JPMorgan has been involved with TVL since TVL's IPO in 2002 [May, I believe] and knows the inside and outside of TVL.
The funds that file tomorrow and last day Wednesday will be very interesting, many have kept selling or buying till they file. The Blackrock buys reflect major purchases well above the norm. If you do the math and just assume equal purchases were made every day of the quarter, that measn Blackrock bought 20,000 shares +/- every single day of TVL, over 30,000 GTN every single day and almost 90,000 shares a day of BLC. This may well be why we are seeing a decline in volume especially in GTN and TVL. We thought TVL was buying back their stock and may well have been, but if you remember I stated that TVL for the last month or so of last year almost daily had a buy block of over 20,000 shares on the low bid. It stopped about ten days before then end of 2011. It's good to go back now and put together the pieces to the puzzle. DaninFW