SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 24)
Under the Securities Exchange Act of 1934
C-TEC CORPORATION
(Name of Issuer)
Common Stock Par Value $1.00 Per Share
(Title of Class and Securities)
126504109
(CUSIP Number of Class of Securities)
Stephen Brent Wells, Gabelli Funds Inc.,
One Corporate Center, Rye, NY 10580-1434 (914) 921-5128
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 13, 1994
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Statement because of Rule 13D-1(b)(3) or (4), check the following
box:
____
/___/
Check the following box if a fee is being paid with this Statement:
____
/___/
______________________________________
CUSIP No. 126504109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli Funds, Inc. I.D. No. 13-3056041
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) _____
/ x /
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_________________________________________________________________
: (7) SOLE VOTING POWER
: 1,068,750 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None (Item 5)
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 1,068,750 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None (Item 5)
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,068,750 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* _____
/ x /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.29%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
HC
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
______________________________________
CUSIP No. 126504109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
GAMCO Investors, Inc. I.D. No. 13-2951242
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
OO: Funds of investment advisory clients
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/x___/
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_________________________________________________________________
: (7) SOLE VOTING POWER
: 3,556,496 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 3,857,276 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,857,276 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
19.11%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IA
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
_________________________________________________________________
CUSIP No. 126504109 13D
_______________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli & Company, Inc. I.D. No. 13-2885006
________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
OO: Funds of client discretionary accounts and working
capital of its own account
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/___/
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_________________________________________________________________
: (7) SOLE VOTING POWER
: 27,826 (Item 5)
: _____________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None (Item 5)
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 27,826 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None (Item 5)
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
27,826 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.13%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
BD
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
_____________________________________
CUSIP No. 126504109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli Performance Partnership I.D. No. 13-3396569
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
AF: Funds of Gabelli Performance Partnership
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/___/
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_________________________________________________________________
: (7) SOLE VOTING POWER
: 48,500 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 48,500 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,500 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.24%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________
CUSIP No. 126504109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli International Limited I.D. No. Foreign Corporation
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/___/
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
_________________________________________________________________
: (7) SOLE VOTING POWER
: 5,700 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 5,700 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,700 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.03%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________
CUSIP No. 126504109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli International Limited II I.D. No.
Foreign Corporation
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/___/
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
_________________________________________________________________
: (7) SOLE VOTING POWER
: 32,300 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 32,300 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
32,300 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.16%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________
CUSIP No. 126504109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Mario J. Gabelli I.D. No. ###-##-####
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
WC
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/ x /
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
_________________________________________________________________
: (7) SOLE VOTING POWER
: None (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: None (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES* _____
/ x /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.00%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IN
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
This Amendment No. 24 to Schedule 13D on C-TEC
Corporation (the "Issuer") is being filed on behalf of the
undersigned to amend the Schedule 13D, as amended (the "Schedule
13D") which was originally filed on June 6, 1989. Unless
otherwise indicated, all capitalized terms used herein but not
defined herein shall have the same meaning as set forth in the
Schedule 13D.
Item 5. Interest In Securities Of The Issuer
Item 5 Schedule 13D is amended, in pertinent part, as
follows:
(a) The aggregate number and percentage of Securities
to which this Schedule 13D relates is 5,040,352 shares and repre-
sents 24.96% of 20,186,911 shares. This latter number of shares
is arrived at by adding the number of shares reported as being
outstanding by the Issuer on December 13, 1994 (18,974,840
shares) to the number of shares which would be receivable by the
Reporting Persons if they were to convert all of the Issuer's
Class B common held by them (1,212,071 shares) into the common
stock of the Issuer. However, the Reporting Persons ownership of
Common Stock is in fact 20.17%. In addition, since Class B common
shares have 15 votes per share and C-Tec Corporation Common Stock
shares have 1 vote per share, the Reporting Persons combined
votes are 20,532,566 representing 13.95% of all classes of
common.
The Reporting persons beneficially own the Securities
as follows:
Shares of % of Shares of % of
Common Class of Common Stock, Class % of
Name Stock Common Converted Convrt'd Vote
GFI:
Principal: 1,350 0.01% 2,850 0.01% 0.02%
Agent: 844,900 4.44% 1,065,900 5.28% 2.82%
GAMCO:
Principal: 0 0.00% 0 0.00% 0.00%
Agent: 2,902,808 15.30% 3,857,276 19.11% 10.70%
Gabelli & Company:
Trading: 27,723 0.15% 27,826 0.13% 0.02%
Agent: 0 0.00% 0 0.00% 0.00%
GPP 33,500 0.18% 48,500 0.24% 0.18%
GIL 2,700 0.01% 5,700 0.03% 0.03%
GIL II 15,300 0.08% 32,300 0.16% 0.18%
MJG 0 0.00% 0 0.00% 0.00%
(b) Each of the Reporting Persons and Covered Persons has
the sole power to vote or direct the vote and sole power to dispose
or to direct the disposition of the Securities reported for it,
either for its own benefit or for the benefit of its investment
clients or its partners, as the case may be, except that GAMCO
Investors, Inc. does not have authority to vote 300,780 of the
reported shares, and except that GFI has sole dispositive and
voting power with respect to the 1,065,900 shares of the Issuer
held by the The Gabelli Asset Fund, The Gabelli Growth Fund, The
Gabelli Equity Trust, Inc. The Gabelli Convertible Securities Fund,
The Gabelli Value Fund Inc., The Gabelli Small Cap Growth Fund, The
Gabelli Equity Income Fund, The Gabelli Global Interactive Couch
Potato Fund, The Gabelli Global Convertible Securities Fund,
Gabelli Gold Fund, Inc., The Gabelli Global Multimedia Trust Inc.,
The Gabelli ABC Fund, and/or The Gabelli Global Telecommunications
Fund, so long as the aggregate voting interest of all joint filers
does not exceed 25% of their total voting interest in the Issuer
and, in that event, the Proxy Voting Committee of each Fund (other
than The Gabelli Growth Fund) shall respectively vote that Funds
shares, and except that at any time, the Proxy Voting Committee of
each such Fund may take and exercise in its sole discretion the
entire voting power with respect to the shares held by such fund
under special circumstances such as regulatory considerations, and
except that the power of Mr. Gabelli and GFI is indirect with
respect to Securities beneficially owned directly by other
Reporting Persons.
<PAGE>
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: December 13, 1994
SCHEDULE II
INFORMATION WITH RESPECT TO
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)
SHARES
PURCHASED AVERAGE
DATE SOLD(-) PRICE(2)
COMMON STOCK-C-TEC CORP-COMMON
11/14/94 1,000- 26.5000
11/14/94 1,500 26.3750
11/14/94 1,000 26.5000
11/14/94 3,000- *DO
11/11/94 1,000- 26.6250
11/11/94 1,500 26.3750
11/11/94 1,000 26.5000
11/10/94 1,500- *DO
11/10/94 1,500 23.6460
THE GABELLI PERFORMANCE PARTNERSHIP
12/05/94 33,500 SPLT
GIL II, LTD.
12/01/94 15,300 SPLT
GABELLI INTERNATIONAL LTD
12/01/94 2,700 SPLT
GABELLI FUNDS, INC.
GABELLI FUNDS INC.-PRINCIPAL A/C
12/01/94 1,350 SPLT
THE GABELLI VALUE FUND,INC.
12/01/94 36,000 SPLT
Page 24 of 26
THE GABELLI TELECOMMUNICATION FUND
12/01/94 81,900 SPLT
THE GABELLI SMALL CAP GROWTH FUND
12/01/94 90,000 SPLT
THE GABELLI GROWTH FUND
12/01/94 23,400 SPLT
THE GABELLI EQUITY TRUST,INC.
12/01/94 81,000 SPLT
THE GABELLI ASSET FUND
12/01/94 192,600 SPLT
GAMCO INVESTORS, INC.
12/09/94 500 *DI
12/08/94 1,400- 18.8750
12/07/94 1,800- 18.5833
12/06/94 900 21.8435
12/01/94 1,705,584 SPLT
11/23/94 1,000- 19.6250
11/11/94 1,000- 26.7500
11/11/94 17,500- *DO
11/10/94 2,000- 26.5000
11/08/94 1,900- 26.7500
GABELLI & CO INVESTMENT A/C
12/01/94 13,050 SPLT
GABELLI & COMPANY,INC.
12/01/94 173 SPLT
Page 25 of 26
SCHEDULE II
INFORMATION WITH RESPECT TO
TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)
SHARES
PURCHASED AVERAGE
DATE SOLD(-) PRICE(2)
PREFERRED CONVERTIBLE STOCK-C-TEC CORP CL B
11/10/94 2,926- *DO
11/10/94 2,926 27.0970
GAMCO INVESTORS, INC.
12/08/94 1,000- 19.7500
12/07/94 1,000- 18.5000
12/06/94 1,000 19.0000
12/02/94 500 20.0000
11/30/94 2,000 20.2500
11/29/94 1,500 20.3750
11/11/94 52,500- *DO
GABELLI & COMPANY,INC.
11/11/94 37- 26.2500
(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
ON NASDAQ.
(2) PRICE EXCLUDES COMMISSION.
(*) RESULTS IN CHANGE OF DISPOSITIVE POWER AND BENEFICIAL OWNERSHIP
OF GAMCO INVESTORS, INC.
Page 26 of 26
