THIS PAPER DOCUMENT IS BEING SUBMITTED PURSUANT
TO RULE 902(g) OF REGULATION S-T
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 16)
Under the Securities Exchange Act of 1934
Cablevision Systems Corporation
(Name of Issuer)
Class A Common Stock
(Title of Class and Securities)
12686C109
(CUSIP Number of Class of Securities)
James E. McKee, Gabelli Funds, Inc.,
One Corporate Center, Rye, New York 10580-1434, (914)921-5294
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 30, 1997
(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 State-
ment 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:
_____
/ /
<PAGE>
_________________________________________________________________
CUSIP No. 12686C109 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*
OO-Funds of investment company clients
_________________________________________________________________
(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
: 743,380 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None (Item 5)
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 743,380 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None (Item 5)
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
743,380 (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
5.47%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
HC, IA, CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
________________________________________________________________
CUSIP No. 12686C109 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
: 2,539,735 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 2,665,135 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,665,135 (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
19.59%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
IA, CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
_________________________________________________________________
CUSIP No. 12686C109 13D
________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli International II 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*
None
_________________________________________________________________
(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
: 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* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.00%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
________________________________________________________________
CUSIP No. 12686C109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
ALCE Partners, L.P. I.D. No. 13-3782067
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
None
_________________________________________________________________
(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
: 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* ____
/___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.00%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
PN
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
________________________________________________________________
CUSIP No. 12686C109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli Multimedia Partners, L.P. I.D. No. 13-3782066
_________________________________________________________________
(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
Delaware
_________________________________________________________________
: (7) SOLE VOTING POWER
: 2,000 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 2,000 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,000 (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
0.01%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
PN
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
________________________________________________________________
CUSIP No. 12686C109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli Performance Partnership L.P. 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*
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
Delaware
_________________________________________________________________
: (7) SOLE VOTING POWER
: 15,000 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 15,000 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,000 (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
0.11%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
PN
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
_________________________________________________________________
CUSIP No. 12686C109 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
: 5,000 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 5,000 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 (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. 12686C109 13D
_________________________________________________________________
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Gabelli Asset Management Company International Advisory
Services Ltd.
_________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
____
(a) /___/
____
(b) /___/
_________________________________________________________________
(3) SEC USE ONLY
_________________________________________________________________
(4) SOURCE OF FUNDS*
00-Funds of clients
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/___/
_________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
_________________________________________________________________
: (7) SOLE VOTING POWER
: 2,000 (Item 5)
:________________________
: (8) SHARED VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING :________________________
PERSON WITH : (9) SOLE DISPOSITIVE
: POWER
: 2,000 (Item 5)
:________________________
:(10) SHARED DISPOSITIVE
: POWER
: None
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,000 (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
0.01%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
CO
_________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
_________________________________________________________________
CUSIP No. 12686C109 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*
None
_________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ____
/ /
_________________________________________________________________
(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>
Item 1.Security and Issuer
This Amendment No. 16 to Schedule 13D on the Class A
Common Stock of Cablevision Systems 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 December 11, 1995. Unless otherwise indicated, all
capitalized terms used herein but not defined herein shall have
the same meaning as set forth the Schedule 13D.
Item 2. Identity and Background
This statement is being filed by Mario J. Gabelli ("Mr.
Gabelli") and various entities which he directly or indirectly
controls or for which he acts as chief investment officer. These
entities, except for Lynch Corporation ("Lynch"), Spinnaker
Industries, Incorporated ("Spinnaker"), Western New Mexico
Telephone Company ("Western New Mexico"), Entoleter, Inc.
("Entoleter"), Lynch Telecommunications Corporation ("Lynch
Telecom"), Lynch Telephone Corporation ("Lynch Telephone") and
Inter-Community Telephone Company ("Inter-Community")
(collectively, "Lynch and its affiliates"), engage in various
aspects of the securities business, primarily as investment
adviser to various institutional and individual clients, includ-
ing registered investment companies and pension plans, as
broker/dealer and as general partner of various private invest-
ment partnerships. Certain of these entities may also make
investments for their own accounts.
The foregoing persons in the aggregate often own
beneficially more than 5% of a class of equity securities of a
particular issuer. Although several of the foregoing persons are
treated as institutional investors for purposes of reporting
their beneficial ownership on the short-form Schedule 13G, the
holdings of those who do not qualify as institutional investors
may exceed the 1% threshold presented for filing on Schedule 13D
or implementation of their investment philosophy may from time to
time require action which could be viewed as not completely
passive. In order to avoid any question as to whether their
beneficial ownership is being reported on the proper form and in
order to provide greater investment flexibility and administra-
tive uniformity, these persons have decided to file their benefi-
cial ownership reports on the more detailed Schedule 13D form
rather than on the short-form Schedule 13G and thereby to provide
more expansive disclosure than may be necessary.
(a), (b) and (c) - This statement is being filed by one
or more of the following persons: Gabelli Funds, Inc. ("GFI"),
GAMCO Investors, Inc. ("GAMCO"), Gabelli Securities, Inc.
("GSI"), Gabelli & Company, Inc. ("Gabelli & Company"), Gabelli
Performance Partnership L.P. ("GPP"), GLI, Inc. ("GLI"), Gabelli
Associates Fund ("Gabelli Associates"), Gabelli Associates
Limited ("GAL"), Gabelli & Company, Inc. Profit Sharing Plan (the
"Plan"), Gabelli International Limited ("GIL"), Gabelli Interna-
tional II Limited ("GIL II"), Gabelli International Gold Fund
Limited ("GIGFL"), ALCE Partners, L.P. ("ALCE"), Gabelli
Multimedia Partners, L.P. ("Multimedia Partners"), Gabelli Asset
Management Company International Advisory Services Ltd.
("GIASL"), Mr. Gabelli, Lynch, Spinnaker, Western New Mexico,
Entoleter, Lynch Telecom, Lynch Telephone and Inter-Community.
Those of the foregoing persons signing this Schedule 13D are
hereafter referred to as the "Reporting Persons".
GAMCO, a wholly-owned subsidiary of GFI, is an
investment adviser registered under the Investment Advisers Act
of 1940, as amended ("Advisers Act"). GAMCO is an investment
manager providing discretionary managed account services in the
equity area for employee benefit plans, private investors,
endowments and foundations.
Gabelli & Company, a wholly-owned subsidiary of GSI, is
a broker-dealer registered under the Securities Exchange Act of
1934, as amended ("l934 Act"), which as a part of its business
regularly purchases and sells securities for its own account.
GLI, a wholly-owned subsidiary of GSI, is the trustee
for the Gabelli-Rosenthal & Partners, L.P. Liquidating Trust.
Gabelli Associates is a New York limited partnership
whose primary business purpose is risk arbitrage investments.
GSI and Mr. Gabelli are the general partners of Gabelli As-
sociates.
GAL is a corporation whose primary business purpose is
risk arbitrage investments. Shares of GAL's Common Stock will be
offered to persons who are neither citizens nor residents of the
United States and may be offered to a limited number of U.S.
investors. GSI is the investment manager of GAL.
GSI, a majority-owned subsidiary of GFI, is a Delaware
corporation which as a part of its business regularly purchases
and sells securities for its own account. It is the immediate
parent of Gabelli & Company.
GFI is the ultimate parent company for a variety of
companies engaged in the securities business, each of which is
named above. In addition, GFI is an investment adviser
registered under the Advisers Act. GFI is an investment adviser
which presently provides discretionary managed account services
for The Gabelli Equity Trust Inc., The Gabelli Asset Fund, The
Gabelli Growth Fund, The Gabelli Convertible Securities Fund,
Inc., The Gabelli Value Fund Inc., The Gabelli Small Cap Growth
Fund, The Gabelli Equity Income Fund, The Gabelli ABC Fund, The
Gabelli Global Telecommunications Fund, Gabelli Gold Fund, Inc.,
The Gabelli Global Multimedia Trust Inc., The Gabelli Global
Convertible Securities Fund, Gabelli Capital Asset Fund, Gabelli
International Growth Fund, Inc. and The Gabelli Global
Interactive Couch Potato Fund (collectively, the "Funds"), which
are registered investment companies.
The Plan, a qualified employee profit sharing plan,
covers substantially all employees of GFI and its affiliates.
GPP, a Delaware limited partnership, is a limited
partnership whose primary business purpose is investing in
securities. Mr. Gabelli is the general partner and chief invest-
ment officer of GPP.
GIL is a corporation whose primary business purpose is
investing in a portfolio of equity securities and securities
convertible into, or exchangeable for, equity securities in order
to achieve its investment objective of significant long-term
growth of capital. Shares of GIL's common stock are offered to
persons who are neither citizens nor residents of the United
States and may be offered to a limited number of U.S. investors.
The investments of GIL are managed by Mr. Gabelli who is also a
director and Chairman of the Board of Directors of GIL.
GIL II is a corporation whose business purpose is
investing primarily in a portfolio of equity securities and
securities convertible into, or exchangeable for, equity securit-
ies in order to achieve its investment objective of significant
long-term growth of capital. Shares of GIL II's common stock are
offered to persons who are neither citizens nor residents of the
United States and may be offered to a limited number of U.S.
investors. The investments of GIL II are managed by Mr. Gabelli
who is also a director and Chairman of the Board of Directors of
GIL II.
ALCE is a Delaware investment limited partnership that
seeks long-term capital appreciation primarily through
investments in public and private equity securities. GSI is a
general partner of ALCE.
Multimedia Partners is a Delaware investment limited
partnership whose objective is to provide long-term capital
appreciation by investing primarily in public and private
multimedia communications companies. GSI is a general partner of
Multimedia Partners.
GIASL is a corporation whose primary business purpose is
to provide advisory services to offshore funds.
Lynch, an Indiana corporation, is a diversified public
company traded on the American Stock Exchange. Its subsidiaries
are engaged in communications, services, and manufactured pro-
ducts. Spinnaker, a Delaware subsidiary of Lynch, is also a
public company and its stock is traded through the NASDAQ System.
Spinnaker is a diversified manufacturing firm with major
subsidiaries in specialty adhesive-backed materials business.
Another of Lynch's subsidiaries, Western New Mexico, provides
telephone services in a service area in Southwestern New Mexico.
Inter-Community, which is also a subsidiary of Lynch, provides
local telephone services in an area 40 miles west of Fargo, North
Dakota. Lynch and Spinnaker actively pursue new business ven-
tures and acquisitions. Lynch and its affiliates make invest-
ments in marketable securities to preserve capital and maintain
liquidity for financing their business activities and
acquisitions (not in the case of Western New Mexico) and are not
engaged in the business of investing, reinvesting, or trading in
securities. Mr. Gabelli is Chairman of Lynch and owns
beneficially 23.52% of the shares of common stock of Lynch.
Mr. Gabelli is the majority stockholder and Chairman of
the Board of Directors and Chief Executive Officer of GFI and the
Chief Investment Officer for each of the Reporting Persons. GFI,
in turn, is the majority stockholder of GAMCO. GFI is also the
majority stockholder of GSI. Gabelli & Company is a wholly-owned
subsidiary of GSI. GLI is a wholly-owned subsidiary of GSI.
The Reporting Persons do not admit that they constitute
a group.
GFI, GAMCO, Gabelli & Company and GLI are New York
corporations and GSI is a Delaware corporation, each having its
principal business office at One Corporate Center, Rye, New York
10580-1434. GPP is a Delaware limited partnership having its
principal business office at 8 Sound Shore Drive, Greenwich,
Connecticut 06830. Gabelli Associates is a New York limited
partnership having its principal business office at One Corporate
Center, Rye, New York 10580-1434. GAL and GIL are corporations
organized under the laws of the British Virgin Islands having
their principal business office at c/o MeesPierson (Cayman)
Limited, British American Centre, Dr. Roy's Drive-Phase 3, George
Town, Grand Cayman, British West Indies. GIL II is a corporation
organized under the laws of the British Virgin Islands having
their principal business office at c/o Coutts & Company (Cayman)
Limited, West Bay Road, Grand Cayman, British West Indies. GIASL
is a Bermuda corporation with its principal business office at
c/o Appleby, Spurling & Kempe, Cedar House, 41 Cedar Avenue,
Hamilton HM12, Bermuda. Lynch is an Indiana corporation having
its principal business office at 8 Sound Shore Drive, Greenwich,
CT 06830. Spinnaker is a Delaware corporation having its
principal business office at 251 Welton Street, Hamden, CT 06511.
For information required by instruction C to Schedule
13D with respect to the executive officers and directors of the
foregoing entities and other related persons (collectively,
"Covered Persons"), reference is made to Schedule I annexed
hereto and incorporated herein by reference.
(d) and (e) - On December 8, 1994, the SEC instituted
and simultaneously accepted offers for the settlement of an
administrative proceeding against Gabelli & Company and GAMCO.
The order instituting the proceeding included a finding, which
Gabelli & Company and GAMCO neither admitted nor denied, that
they failed to implement and maintain policies and procedures
reasonably designed to prevent the misuse of material, nonpublic
information by not sepecifically addressing the special
circumstances that arose from their affiliation with Lynch
Corporation, a public company. To resolve this matter, Gabelli &
Company and GAMCO agreed to cease and desist from violating
Section 15(f) of the 1934 Act and Section 204A of the Advisers
Act, respectively. They further agreed to each pay a civil
penalty in the amount of $50,000, and to retain, and adopt the
recommendations of, an independant consultant regarding their
Section 15(f) and Section 204A policies and procedures.
(f) - Reference is made to Schedule I hereto.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 to Schedule 13D is amended, in pertinent part, as
follows:
All Reporting Persons used an aggregate of approximate-
ly $13,482,757 to purchase the additional Securities requiring
this Amendment to Schedule 13D. GAMCO and GFI used approximately
$8,516,363 and $4,812,877 respectively, of funds that were
provided through the accounts of certain of their investment
advisory clients (and, in the case of some of such accounts at
GAMCO, may be through borrowings from client margin accounts) in
order to purchase the Securities for such clients. GPP used
approximately $88,125 of the investment funds of the partnership
to purchase the additional Securities reported by it. GIASL used
approximately $65,392 of the client funds to purchase the
additional Securities reported by it.
Item 5. Interest In Securities Of The Issuer
Item 5 to Schedule 13D is amended, in pertinent part,
as follows:
(a) The aggregate number and percentage of Securities
to which this Schedule 13D relates is 3,432,515 shares,
representing 25.23% of 13,599,607 shares outstanding. This
latter number is arrived at by adding the number of shares
reported as being outstanding in the Issuer's most recently filed
Form 10-Q for the quarter ended September 30, 1996 (13,574,676
shares) to the number of shares which would be receivable by the
Reporting Persons if they were to convert all of the Issuer's
Covertible Preferred stock held by them (24,931 shares) into the
Common Stock of the Issuer. The Reporting Persons beneficially
own those Securities as follows:
Shares of % of Shares of % of
Common Class of Common Stock, Class
Name Stock Common Converted Converted
GAMCO:
As Principal 0 0.00% 0 0.00%
As Agent 2,645,584 19.49% 2,665,135 19.59%
GFI:
As Principal 0 0.00% 0 0.00%
As Agent 738,000 5.43% 743,380 5.47%
ALCE 0 0.00% 0 0.00%
GIL 5,000 0.04% 5,000 0.04%
GIL II 0 0.00% 0 0.00%
GMP 2,000 0.01% 2,000 0.01%
GPP 15,000 0.11% 15,000 0.11%
Mr. Gabelli 0 0.00% 0 0.00%
Mr. Gabelli is deemed to have beneficial ownership of the
Securities owned beneficially by each of the foregoing persons and
GFI is deemed to have beneficial ownership of the Securities
beneficially owned by each of the foregoing persons other than Mr.
Gabelli.
(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 (i) GAMCO
Investors, Inc. does not have authority to vote 125,400 of the
reported shares; (ii) since the aggregate voting interest of all
joint filers exceeds 25% of total voting interest in the issuer,
with respect to 48,000 shares (0.35%) of Class A Common Stock held
by the Gabelli Capital Asset Fund, the 205,000 shares (1.51%) of
Class A Common Stock held by the Gabelli Asset Fund, the 30,000
(0.22%) of Class A Common Stock held by the Gabelli Convertible
Securities Fund, the 185,000 (1.36%) of Class A Common Stock held
by the Gabelli Equity Trust, the 30,000 (0.22%) of Class A Common
Stock held by the Gabelli Multimedia Trust, the 30,000 (0.22%) of
Class A Common Stock held by the Gabelli Global Telecommunications
Fund, and the 210,000 ( 1.55%) of Class A Common Stock held by the
Gabelli Value Fund, the proxy voting committee of each such Fund
has taken and exercises in its sole discretion the entire voting
power with respect to the shares held by each such fund, until its
proxy committee determines otherwise and, accordingly, GFI has no
voting authority with regard to the shares held by such Funds; and
(iii) the power of Mr. Gabelli and GFI is indirect with respect to
the Securities beneficially owned directly by other Reporting
Persons.
(c) Information with respect to all transactions in the
Securities which were effected during the past sixty days by each
of the Reporting Persons and Covered Persons is set forth on
Schedule II annexed hereto and incorporated herein by reference.
<PAGE>
Signature
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: February 3, 1997
GABELLI FUNDS, INC.
By: _______________________
James E. McKee
General Counsel
GAMCO INVESTORS, INC.
By:___________________________
Douglas R. Jamieson
Executive Vice President
MARIO J. GABELLI
By:_________________________
James E. McKee
Attorney-in-Fact
ALCE PARTNERS, L.P.
By:_______________________
Gabelli Securities, Inc.
General Partner
by: James E. McKee
Secretary
<PAGE>
GABELLI MULTIMEDIA
PARTNERS, L.P.
By:_________________________
Gabelli Securities, Inc.
General Partner
by: James E. McKee
Secretary
GABELLI INTERNATIONAL
II LIMITED
By:__________________________
Mario J. Gabelli, Chairman
and Investment Manager
by: James E. McKee
Attorney-in-Fact
GABELLI INTERNATIONAL LIMITED
By:__________________________
Mario J. Gabelli, Chairman
and Investment Manager
by: James E. McKee
Attorney-in-Fact
GABELLI PERFORMANCE
PARTNERSHIP, L.P.
By:__________________________
Mario J. Gabelli
General Partner
by: James E. McKee
Attorney-in-Fact
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-CABLEVISION SYS CORP
GABELLI INTERNATIONAL II LTD
12/31/96 5,000- 29.6250
12/20/96 1,000- 30.0000
12/04/96 2,000- 30.1250
GABELLI INTERNATIONAL LTD
1/28/97 1,000- 31.5000
1/22/97 4,000- 32.6958
1/22/97 2,000 32.6958
1/21/97 4,000 32.6958
GABELLI FUNDS, INC.
THE GABELLI VALUE FUND,INC.
1/30/97 3,500 31.3278
1/07/97 3,500- 33.1750
1/06/97 3,500 33.1750
12/31/96 48,500- 29.6240
12/09/96 3,000- 31.6989
THE GABELLI TELECOMMUNICATION FUND
1/29/97 2,000- 31.3240
THE GABELLI GLOBAL MULTI MEDIA TRUST
12/13/96 14,800- 30.8240
THE GABELLI EQUITY TRUST,INC.
1/30/97 5,500 31.3278
12/31/96 48,500 29.6250
12/20/96 1,300- 29.8240
12/13/96 14,800 30.8750
THE GABELLI COUCH POTATO FUND
12/27/96 1,500- 29.3240
12/05/96 8,500- 30.2431
THE GABELLI ASSET FUND
1/20/97 5,000 32.2500
1/20/97 25,000 31.7055
1/14/97 5,200 32.9250
1/13/97 6,300 33.1250
1/13/97 4,500- 33.1750
1/07/97 3,500 33.1750
1/06/97 4,500 33.1750
12/31/96 30,000 29.5179
12/31/96 10,000 29.7063
THE GABELLI CAPITAL ASSET FUND
1/06/97 2,000- 33.2614
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-CABLEVISION SYS CORP
GAMCO INVESTORS, INC.
1/30/97 3,000 31.3438
1/22/97 5,000 32.6076
12/23/96 800- 29.4646
1/30/97 5,000 31.4900
1/30/97 800- 31.0000
1/30/97 17,000 31.3438
1/30/97 1,000 31.3750
1/29/97 3,800 31.3257
1/29/97 2,000 31.3750
1/29/97 500 31.2500
1/28/97 6,000 31.3792
1/28/97 1,000 31.5000
1/28/97 2,700 31.0972
1/28/97 500- *DO
1/28/97 10,000 31.4250
1/27/97 700 31.1250
1/27/97 500 30.7500
1/27/97 500 31.0000
1/27/97 2,000- *DO
1/27/97 3,300 30.8750
1/24/97 18,300- *DO
1/24/97 8,400- 31.1548
1/23/97 2,000 32.1875
1/23/97 4,000- 32.1344
1/23/97 150 *DI
1/23/97 3,800 32.3651
1/23/97 5,000 32.4125
1/23/97 2,000 32.3125
1/23/97 1,000 32.3750
1/23/97 12,000 32.2813
1/23/97 1,500 32.2500
1/22/97 2,200 32.6076
1/22/97 3,000 32.4250
1/22/97 400 32.5000
1/22/97 300- 32.5000
1/21/97 800 32.6250
1/21/97 4,000 32.6458
1/21/97 8,600 32.5000
1/20/97 2,000 31.9375
1/20/97 2,500 31.8750
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-CABLEVISION SYS CORP
GAMCO INVESTORS, INC.
1/20/97 1,000- 32.0000
1/20/97 6,000- 31.9375
1/20/97 500- 31.8750
1/17/97 3,500- 31.6964
1/17/97 1,500 32.1250
1/17/97 5,000 32.0000
1/17/97 500 31.8750
1/17/97 2,900 32.2069
1/17/97 1,000- *DO
1/16/97 100 32.1250
1/16/97 4,100 32.3780
1/16/97 1,400 32.2500
1/16/97 5,000 32.5000
1/15/97 3,000 32.2500
1/15/97 8,600 32.3750
1/15/97 300 32.3750
1/15/97 200- 32.2500
1/15/97 3,000 32.4375
1/15/97 10,800 32.4201
1/14/97 6,500 32.8731
1/14/97 700- *DO
1/13/97 3,000 33.2083
1/13/97 1,000 33.0000
1/13/97 5,000 33.1875
1/13/97 2,500 33.2500
1/13/97 300- 44.8334
1/13/97 14,500 33.1302
1/13/97 1,000- 33.0000
1/10/97 2,500 33.0000
1/10/97 3,500 33.0357
1/08/97 3,000 43.3861
1/08/97 3,000- 29.6250
1/08/97 1,000- 34.1250
1/08/97 7,000 34.5179
1/08/97 2,000- 43.3861
1/08/97 3,000 29.6250
1/07/97 6,500- 33.2404
1/07/97 3,000 32.8750
1/07/97 15,000- *DO
1/07/97 4,000 32.9688
1/07/97 200- 33.1250
1/07/97 2,500 33.0000
1/07/97 200 33.0000
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-CABLEVISION SYS CORP
GAMCO INVESTORS, INC.
1/06/97 1,200- 33.1771
1/06/97 7,000 33.2321
1/06/97 200 33.1250
1/06/97 2,500- 33.1250
1/03/97 66- 30.8750
1/02/97 4,000- *DO
1/02/97 1,500 29.5000
1/02/97 1,500- 29.5000
12/31/96 17,100- 29.5570
12/31/96 3,000 29.6250
12/31/96 5,000 29.5125
12/31/96 2,500- 29.5000
12/30/96 11,900- 29.1534
12/30/96 3,000 29.1667
12/27/96 800- 29.8125
12/27/96 18,000- *DO
12/26/96 1,500 29.7500
12/26/96 12,000- *DO
12/26/96 3,500 29.6250
12/26/96 500- 29.5000
12/24/96 1,000 29.7500
12/24/96 300- 29.6088
12/24/96 600 29.6088
12/24/96 1,400- 29.6429
12/23/96 300 29.5588
12/23/96 3,700 29.8514
12/23/96 5,200- 29.4646
12/23/96 5,000 29.9250
12/23/96 600- 29.6088
12/20/96 600- *DO
12/20/96 5,700 30.8004
12/20/96 4,800- 29.8750
12/19/96 400 31.0000
12/19/96 5,000- 30.2100
12/19/96 800- 30.1250
12/18/96 500 30.3750
12/18/96 700- 30.3571
12/17/96 500- 30.1250
12/17/96 1,000 30.4625
12/17/96 2,000 30.5000
12/17/96 6,400- 30.2656
12/17/96 1,000- 30.3125
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-CABLEVISION SYS CORP
GAMCO INVESTORS, INC.
12/17/96 300 29.8750
12/17/96 1,500 30.7500
12/16/96 2,000 30.8125
12/16/96 5,000- 30.9500
12/16/96 52,000- *DO
12/16/96 2,900- 30.3362
12/16/96 14,000 30.8795
12/13/96 2,700- 30.8056
12/13/96 300 30.8750
12/13/96 5,000 31.0000
12/13/96 5,000 30.9625
12/12/96 600- 31.2500
12/12/96 3,000 31.8750
12/12/96 4,300- 31.2907
12/11/96 4,000- 31.3281
12/10/96 1,100 31.5000
12/10/96 7,900- 31.8133
12/10/96 300- 29.4830
12/10/96 300- 31.6250
12/09/96 4,000 31.9375
12/09/96 1,500- *DO
12/09/96 1,000 31.7500
12/09/96 6,500- 31.7173
12/09/96 600- 31.6250
12/05/96 1,500 42.0578
12/05/96 200- 30.5000
12/05/96 1,000- 42.0000
12/04/96 500 30.1250
12/04/96 2,000- 30.5000
12/03/96 8,000- 30.0000
12/02/96 5,100 29.5588
12/02/96 7,000- 29.9893
12/02/96 500 29.6250
12/02/96 500- 30.6250
12/02/96 2,600- 29.9615
12/02/96 500- 29.6250
ALCE PARTNERS LP
12/24/96 1,000- 29.5000
(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
ON THE AMERICAN STOCK EXCHANGE.
(2) PRICE EXCLUDES COMMISSION.
(*) RESULTS IN CHANGE OF DISPOSITIVE POWER AND BENEFICIAL OWNERSHIP.
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-CABLEVISION SYS CV P
GAMCO INVESTORS, INC.
1/17/97 900- 21.3750
1/17/97 900 21.3750
1/15/97 900 21.3750
12/23/96 500- 20.0000
(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
ON THE AMERICAN STOCK EXCHANGE.
(2) PRICE EXCLUDES COMMISSION.
