GAMCO Investors and Mario Gabelli Affiliates Decrease Position in Telesat Corp (TSAT)

On April 2, 2026, GAMCO Investors, Inc. and its affiliated reporting persons, including Mario Gabelli, filed an amendment to their Schedule 13D regarding Telesat Corp (TSAT). The filing indicates that the group collectively beneficially owns 2,558,988 shares of Class A and Class B variable voting shares, representing approximately 17.37% of the company's outstanding stock. This filing reflects a series of recent dispositions, most notably a sale of 55,000 shares by GAMCO Asset Management Inc. on March 31, 2026, at a price of $36.31 per share. Other entities within the group, including Associated Capital Group, Inc., Gabelli Funds, LLC, and Gabelli & Company Investment Advisers, Inc., also reported various sales throughout March 2026. The reporting persons maintain the right to communicate with management and may continue to evaluate their investment based on market conditions. The individual holdings are distributed across multiple entities, with GAMCO Asset Management Inc. holding the largest portion at 11.63% (1,713,548 shares).