8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   ----------

                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         Securities Exchange Act of 1934


Date of Report (Date of earliest event reported)  October 6, 2004
                                                  ---------------


                                LYNCH CORPORATION
             (Exact Name of Registrant as Specified in Its Charter)


Indiana                                1-106                    38-1799862
- --------------------------------------------------------------------------------
(State or Other Jurisdiction       (Commission                 (IRS Employer
of Incorporation)                  File Number)             Identification No.)

50 Kennedy Plaza, Suite 1250   Providence, Rhode Island                 02903
- --------------------------------------------------------------------------------
          (Address of principal executive offices)                    (Zip Code)

                                 (401) 453-2007
              (Registrant's Telephone Number, Including Area Code)

                                       N/A
          (Former name or former address, if changed since last report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2 below):

[  ]  Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230 425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))



Item 5.02   Departure of Directors or Principal Officers; Election of Directors;
            Appointment of Principal Officers.
            ----------------------------------



On October 6, 2004, the Board of Directors of Lynch  Corporation,  Inc. ("Lynch"
or the  "Corporation")  announced  that Ralph R.  Papitto,  the Chief  Executive
Officer of the  Corporation  and Richard E.  McGrail,  the  President  and Chief
Operating  Officer of the Corporation,  have both resigned from their respective
positions in the Company.  As  previously  reported,  Mr.  Papitto will serve as
Chairman Emeritus and Co-Chairman of a Board of Advisors, alongside Mr. Mario J.
Gabelli.

Mr. Papitto served as Lynch's Chief Executive  Officer and Mr. McGrail served as
Lynch's President and Chief Operating Officer since October 15, 2001.

John C. Ferrara,  53, a current Director of Lynch Corporation,  was named as the
President and Chief Executive Officer of Lynch Corporation.  Mr. Ferrara was the
President and Chief Executive Officer of Space Holding Corporation from December
2000 to March 2002, and Chief  Financial  Officer from November 1999 to December
2000. He was the Executive Vice President and Chief Financial  Officer of Golden
Books Family Entertainment, Inc. from 1998 to 1999, and Vice President and Chief
Financial  Officer of Renaissance  Communications  Corp.  from 1989 to 1997. Mr.
Ferrara previously held financial positions at the American Express Company, the
National Broadcasting Company and Deloitte & Touche LLP.

Mr.  Ferrara does not have any family  relationships  with any of the directors,
executive  officers of the Corporation or any people  nominated or chosen by the
Corporation to become a director or executive officer.

On October 6, 2004,  the Board of Directors also announced that Eugene Hynes was
named Vice President, Secretary and Treasurer of Lynch.

For  additional  information,  reference is made to a press release filed by the
Corporation  on October 7, 2004,  which is attached  hereto as Exhibit  99.1 and
incorporated herein by reference.


Item 9.01 Financial Statements and Exhibits.
          ---------------------------------


            (c)         Exhibits

            Exhibit No.      Exhibits
            -----------      --------

            99.1             Press Release dated October 7, 2004.


                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


Dated:   October 8, 2004             By:/s/ John  C. Ferrara
                                        ---------------------
                                        John C. Ferrara
                                        President and Chief Executive Officer

EX-99.1

[GRAPHIC OMITTED]   CONTACTS

FOR IMMEDIATE RELEASE         Marc J. Gabelli        Hugh Ryan
October 7, 2004               Lynch Corporation      Ryan Wellnitz & Associates
                              401.453.2007           401.246.2300
                                                     hryan@ryanwellnitz.com

LYNCH CORPORATION ANNOUNCES MANAGEMENT CHANGES


PROVIDENCE,  R.I.,  Oct.  7 - Lynch  Corporation  announced  today  that John C.
Ferrara has been  elected  President  and Chief  Executive  Officer and succeeds
Richard E. McGrail.  Mr. McGrail will remain an adviser to the company to assist
in the closing of the previously announced acquisition of Piezo Technology, Inc.
and to ensure a smooth management transition.

"During  his  tenure,  Richard  initiated  numerous  changes  to  the  company's
operations that resulted in improved operating  performance and we want to thank
him for his service," said Marc Gabelli, Chairman of Lynch Corporation.

John C.  Ferrara,  a senior  executive  with more than 25 years of experience in
operations,   acquisitions,   financing,   business  development  and  strategic
planning, was elected to the Lynch Corporation Board of Directors in July, 2004.

"We are  pleased  to have  John  join  our  team,"  Mr.  Gabelli  said.  "John's
broad-based  business background will be helpful as we set a course to grow this
company and build long-term shareholder value."

Mr. Ferrara was the President and CEO of Space Holding  Corporation  until March
2002,  and the Chief  Financial  Officer from November 1999 to December 2000. He
was the Executive  Vice  President and Chief  Financial  Officer of Golden Books
Family  Entertainment,  Inc.  from 1998 to 1999,  and Vice  President  and Chief
Financial  Officer of Renaissance  Communications  Corp.  from 1989 to 1997. Mr.
Ferrara previously held financial positions at the American Express Company, the
National Broadcasting Company and Deloitte & Touche LLP.

Lynch Corporation is a multi-industry company that manufactures a broad range of
capital  equipment  and  custom-designed  electronic  components.  The company's
shares are traded on the American Stock Exchange under the symbol LGL.

For  more  information,   contact  Marc  Gabelli  or  John  C.  Ferrara,   Lynch
Corporation, 50 Kennedy Plaza #1250, Providence, RI 02903. (401) 453-2007.

FORWARD LOOKING STATEMENT

THIS RELEASE CONTAINS CERTAIN FORWARD-LOOKING  INFORMATION WITHIN THE MEANING OF
THE PRIVATE  SECURITIES  LITIGATION  REFORM ACT OF 1995, AS AMENDED,  INCLUDING,
WITHOUT  LIMITATION,  THE PERFORMANCE OF THE CORPORATION'S  BUSINESSES,  CERTAIN
COST  SAVINGS,  AND  OTHER  POSSIBLE  OPERATIONAL  IMPROVEMENT.   IT  SHOULD  BE
RECOGNIZED THAT SUCH INFORMATION IS BASED UPON CERTAIN ASSUMPTIONS,  PROJECTIONS
AND FORECASTS INCLUDING,  WITHOUT LIMITATION,  BUSINESS CONDITIONS AND FINANCIAL
MARKETS, THE CORPORATION'S  INTERNAL PROJECTIONS,  AND THE CAUTIONARY STATEMENTS
SET FORTH IN THE DOCUMENTS  FILED BY THE LYNCH  CORPORATION  WITH THE SECURITIES
AND  EXCHANGE   COMMISSION.   AS  A  RESULT,  SUCH  INFORMATION  IS  SUBJECT  TO
UNCERTAINTIES, RISKS AND INACCURACIES, WHICH COULD BE MATERIAL.

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