Investing legend Gabelli bullish on media firm

The "Halftime Report" guest host delivered his top idea with three hours left in the trading day.

Hedge fund manager Mario Gabelli of Gameco Investors said he was bullish long term on media company E.W. Scripps — a stock that has been struggling during the past month.

Trader disclosure: On July 14, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the traders: Pete Najarian is long AMAT, AAPL, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE, he is long calls AAPL, ABX, BAC, BBY, C, CRM, CY, DAL, ETFC, FB, FCAU, HOG, INVN, JPM, LULU, LVS, NUAN, OC, ORCL, PNR, S, SYY, UAL, USB, VOYA, VZ, WYNN, XLF, ZIOP. Today he bought FB calls and HOG calls. Jon Najarian is long AEP, BKD, CUDA GE, HOG, PG, XLE he is long calls A, AAL, ADSK, ARG, BAX, CAH, CMCSA, CTXS, CVC, DD, EXPR, FB, GE, GLD, HZNP, JPM, KATE, KSU, LVS, MRVL, NUAN, ORCL, PG, PII, PRU, SNDK, SO, T, TWTR, TXT, WMT, ZIOP, he is long puts VALE. Today he bought FB calls, SNDK calls, TWTR calls. Stephanie Link is long ALSN, DAL, HDS, LULU, MS, RHT, UNP.