The board of directors of Gabelli Asset Management has authorized a stock buyback program of up to $10 million of its Class A Common Stock at times and prices to be determined, the company announced yesterday.

That includes $3.1 million that had not yet been spent under the company’s current stock buyback program, according to the company. Through September 14, 2001, Gabelli had repurchased 510,900 shares at an average cost of $17.38 per share totaling nearly $8.9 million.

Gabelli manages $26 billion in assets in mutual funds, partnerships, and private investment advisory accounts.

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