Cincinnati financier Carl H. Lindner and his company, American Financial Corp., said Wednesday that they have bought 5.9% of the outstanding Class A common stock of Aaron Spelling Productions, which counts "Dynasty" and "Hotel" among its television hits.
Lindner and American Financial said in a filing with the Securities and Exchange Commission that they bought 475,000 Class A common shares of Los Angeles-based Spelling as an investment. Lindner and American Financial said they have "no present plans to acquire control of Aaron Spelling" but added that they will continue to review their investment and could change their plans "depending on future developments."
The stock was bought between Aug. 1 and Aug. 14 at prices ranging from $14 to $14.03 per share.
A spokesman for Aaron Spelling Productions said company officials had no comment on the SEC filing.
Aaron Spelling Productions recently went public, selling about 68% of its Class A common stock for $77 million, of which the company received $58.7 million.
But control of the company remains firmly in the hands of producer Aaron Spelling, the company's chief executive. Spelling owns all of the company's Class B common stock, which gives him control of up to 68.7% of the voting shares.