Billionaire Mario Gabelli’s Top Media and Entertainment Stock Picks

#3 AMC Networks Inc (NASDAQ:AMCX)

Shares held (as of September 30): 1.46 million

Total Value (as of September 30): $106.87 million

Percent of Portfolio (as of September 30): 0.70%

About 151,000 shares of AMC Networks Inc (NASDAQ:AMCX) were liquidated by GAMCO during the third trimester. The $5.56 billion operator of programming networks including AMC, BBC America, and Sundance TV has seen its stock price rise by more than 25% over the last year. The performance looks even more impressive when seen against the backdrop of the struggle that the company’s peers are going through as the cord cutting trend continues to reduce pay-TV subscribers. The company’s flagship series, The Walking Dead, has been experiencing flat ratings as compared to last year, but was still renewed for a seventh season. Columbus Circle Investors, which is led by Clifford Fox is another prominent stockholder of AMC Networks Inc (NASDAQ:AMCX) within our database, as it held about 1.18 million shares of the company at the end of June.

#2 Time Warner Inc (NYSE:TWX)

Shares held (as of September 30): 2.41 million

Total Value (as of September 30): $165.48 million

Percent of Portfolio (as of September 30): 1.09%

The fund slashed its exposure to Time Warner Inc (NYSE:TWX) by about 7% during the September quarter. In the past twelve months the $63.26 billion company’s stock has slid by about 1.54%. Time Warner can prove to be a solid long-term investment as certain short-term factors such as exchange-rate headwinds and increased spending on its HBO NOW service are temporarily weighing down the company’s bottom line. OZ Management, which is led by Daniel S. Och, is the largest stockholder of  Time Warner Inc (NYSE:TWX) among the company’s investors that we track. The fund held some 9.49 million shares of Time Warner Inc. at the end of June.

#1 DISH Network Corp (NASDAQ:DISH)

Shares held (as of September 30): 2.91 million

Total Value (as of September 30): $169.87 million

Percent of Portfolio (as of September 30): 1.12%

GAMCO reduced its stake in DISH Network Corp (NASDAQ:DISH) by 4% during the quarter. The fund has held a position in the company since the first quarter of 2008. The previous massive upside potential for the stock when it was in Goldman Sachs’ Conviction Buy list with a price target of $108 has seemingly been lost. Goldman removed DISH from the list and now has a ‘Buy’ rating on the company with a $77 price target offering an upside potential of over 18% at the current trading levels. Boykin Curry‘s Eagle Capital Management held about 12.79 million shares of DISH Network Corp (NASDAQ:DISH) at the end of the June quarter.

Disclosure: None