A Bass group raised its stake in Taft to 15.9%.
A group led by Texas financier Robert M. Bass told the Securities and Exchange Commission that it acquired 185,000 shares of Taft Broadcasting between March 14 and April 8 at prices ranging from $90.99 to $94.08 per share. Before the purchase the Bass group controlled 13.8% of Taft’s stock. The Bass-led group now holds nearly as much stock as the founding Taft and Ingalls families and the company’s management, which together own about 18%. Taft spokesman Polk Laffoon IV said the Bass group has held “several discussions” with Taft management and declared that its purchases are for investment purposes only.
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