FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * GABELLI MARIO J   2. Issuer Name and Ticker or Trading Symbol GAMCO INVESTORS, INC. ET AL [GBL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman and CEO (Last) (First) (Middle) C/O GAMCO INVESTORS, INC, ONE CORPORATE CENTER 3. Date of Earliest Transaction (Month/Day/Year) 09/02/2008 (Street) RYE, NY 10580 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class B Common Stock 09/02/2008   J(1)   598,144 D $ 0 19,830,356 I By: GGCP, Inc. (2) Class A Common Stock (CL B Authorized to Convert to CL A) 09/02/2008   J(1)   598,144 A $ 0 598,144 I By: GGCP, Inc. (2) Class A Common Stock 09/04/2008   G(7)   75,000 D $ 0 523,144 I By: GGCP, Inc. (2) Class B Common Stock 09/04/2008   J(5)   325,000 D $ 0 19,505,356 I By: GGCP, Inc. (2) Class B Common Stock 09/04/2008   J(5)   243,893 (6) A $ 0 244,032 D   Class A Common Stock (CL B Authorized to Convert to CL A) 09/09/2008   J(3)   298,144 (4) D $ 0 225,000 I By: GGCP, Inc. (2) Class B Common Stock 09/09/2008   J(3)   298,144 (4) A $ 0 19,803,500 I By: GGCP, Inc. (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GABELLI MARIO J C/O GAMCO INVESTORS, INC ONE CORPORATE CENTER RYE, NY 10580	X	X	Chairman and CEO

Signatures

/s/ Peter D. Goldstein, Attorney-in-Fact for MARIO J. GABELLI		09/09/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	598,144 shares of the Issuer's Class B Common Stock held by GGCP, Inc. became convertible on September 2, 2008, into an equal number of the Issuer's Class A Common Stock.
(2)	The Reporting Person disclaims beneficial ownership of the Class B Common Stock held by GGCP, Inc. in excess of his pecuniary interest therein.
(3)	The 598,144 shares of the Issuer's Class B Common Stock previously made convertible on September 2, 2008, into a equal number of the Issuer's Class A Common Stock was reduced on September 9, 2008, to 300,000 shares of the Issuer's Class B Common Stock.
(4)	These transactions were effected pursuant to Rule 16b-3 under the Securities Exchange Act of 1934 for the purposes of exempting such acquisition or disposition of equity securities.
(5)	GGCP, Inc. distributed 325,000 shares of the Issuer's Class B Common Stock to its shareholders.
(6)	These shares were received by the Reporting Person from the Class B Common Stock distribution made by GGCP, Inc.
(7)	75,000 shares of the Class B Common Stock authorized to be converted on September 2, 2008, were converted to Class A Common Stock and contributed to a private charitable foundation.

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