Monday, April 16, 2007

Third Avenue Management Changes Filing Status on Handleman (HDL) to 13D, Notes 15.6% Stake

In a 13D filing Friday on Handleman Co. (NYSE: HDL), 15.6% holder (3.16 million shares) Third Avenue Management LLC noted they changed their filing status from 13G (passive) to 13D (active). Third Avenue Management held 3.02 million shares of HDL at the quarter ended December 31, 2006.

In a pretty standard disclosure, Third Avenue Management said they may seek to meet with the board of directors and/or members of senior management or communicate publicly or privately with other stockholders or third parties to indicate its views on issues relating to the strategic direction undertaken by the Issuer and other matters of interest to stockholders generally. As part of any such discussions, they may suggest changes in, or take positions relating to, the strategic direction of the Issuer as a means of enhancing shareholder value.

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