SECURITIES AND EXCHANGE COMMISSION


                             WASHINGTON, D.C. 20549


                                    FORM 8-K
                                    --------

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
                   OF THE SECURITIES AND EXCHANGE ACT OF 1934


Date of Report (Date of Earliest Event Reported) August 17, 2001
                                                 ---------------


                                LYNCH CORPORATION
                                -----------------

             (Exact Name of Registrant as Specified in its Charter)



    Indiana                          1-106                38-1799862
    -------                          -----                ----------
(State of other               (Commission File          (IRS Employer
Jurisdiction of                   Number)               Identification)
Incorporation)




50 Kennedy Plaza, Suite 1250, Providence, RI                     02903
--------------------------------------------                     -----
(Address of Principal Executive Offices                         Zip Code



Registrant's Telephone Number, Including Area Code:   401-453-2000
---------------------------------------------------   ------------


<PAGE>



Item 5.  Other Events
-------  ------------

On August 17, 2001,  Ralph R. Papitto  replaced Mario J. Gabelli as Chairman and
Chief Executive Officer of Lynch Corporation (the "Company") and Mr. Gabelli was
appointed Vice Chairman. In connection with Mr. Papitto's appointment, the Board
of Directors  approved,  subject to  shareholder  ratification,  the grant of an
option to Mr. Papitto to purchase up to 374,471  shares of the Company's  Common
Stock at an exercise price of $30 per share (subject to customary  anti-dilution
adjustments) (the "Option").

Also on August 17, 2001, Anthony T. Castor, III, and Robert E. Dolan resigned as
directors.  There are now three vacancies on the Board (Louis A. Guzzetti,  Jr.,
resigned on July 31) and it is  contemplated  that three new  directors  who are
acceptable to Mr. Papitto and the remaining Board will fill such vacancies.

Attached as Exhibit 10(w) is a copy of the agreement (the "Agreement") among the
Company,  Mr. Papitto and Mr. Gabelli pursuant to which, among other things, the
Company  has  agreed to grant Mr.  Papitto  the  Option.  Also  pursuant  to the
Agreement,  Mr.  Gabelli has agreed to vote all shares of Common  Stock owned by
him personally in favor of the Option.  The Agreement is incorporated  herein by
reference in its entirety.

Attached  as Exhibit  99.1 is a copy of the press  release  issued on August 17,
2001  announcing  Mr.  Papitto's  appointment  as Chairman  and Chief  Executive
Officer, which press release is incorporated herein by reference.

Item 7.  Financial Statements and Exhibits
-------  ---------------------------------

      Exhibits

         (a)      Not applicable
         (b)      Not applicable
         (c)      Exhibits

                  10(w)    Agreement dated August 17, 2001 among Lynch
                           Corporation, Ralph R. Papitto and Mario J. Gabelli

                  99.1     Press Release dated August 17, 2001


<PAGE>




                                   Signatures

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

                                                     Lynch Corporation


                             By:  /s/Ralph R. Papitto
                             ------------------------
                                     Ralph R. Papitto
                                     Chief Executive Officer


Date: August 24, 2001
---------------------
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SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K
                                    --------

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
                   OF THE SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) August 17, 2001
                                                 ---------------

                                LYNCH CORPORATION
                                -----------------

             (Exact Name of Registrant as Specified in its Charter)

    Indiana                          1-106                38-1799862
    -------                          -----                ----------
(State of other               (Commission File          (IRS Employer
Jurisdiction of                   Number)               Identification)
Incorporation)

50 Kennedy Plaza, Suite 1250, Providence, RI                     02903
--------------------------------------------                     -----
(Address of Principal Executive Offices                         Zip Code

Registrant's Telephone Number, Including Area Code:   401-453-2000
---------------------------------------------------   ------------
Item 5.  Other Events
-------  ------------

On August 17, 2001,  Ralph R. Papitto  replaced Mario J. Gabelli as Chairman and
Chief Executive Officer of Lynch Corporation (the "Company") and Mr. Gabelli was
appointed Vice Chairman. In connection with Mr. Papitto's appointment, the Board
of Directors  approved,  subject to  shareholder  ratification,  the grant of an
option to Mr. Papitto to purchase up to 374,471  shares of the Company's  Common
Stock at an exercise price of $30 per share (subject to customary  anti-dilution
adjustments) (the "Option").

Also on August 17, 2001, Anthony T. Castor, III, and Robert E. Dolan resigned as
directors.  There are now three vacancies on the Board (Louis A. Guzzetti,  Jr.,
resigned on July 31) and it is  contemplated  that three new  directors  who are
acceptable to Mr. Papitto and the remaining Board will fill such vacancies.

Attached as Exhibit 10(w) is a copy of the agreement (the "Agreement") among the
Company,  Mr. Papitto and Mr. Gabelli pursuant to which, among other things, the
Company  has  agreed to grant Mr.  Papitto  the  Option.  Also  pursuant  to the
Agreement,  Mr.  Gabelli has agreed to vote all shares of Common  Stock owned by
him personally in favor of the Option.  The Agreement is incorporated  herein by
reference in its entirety.

Attached  as Exhibit  99.1 is a copy of the press  release  issued on August 17,
2001  announcing  Mr.  Papitto's  appointment  as Chairman  and Chief  Executive
Officer, which press release is incorporated herein by reference.

Item 7.  Financial Statements and Exhibits
-------  ---------------------------------

      Exhibits

         (a)      Not applicable
         (b)      Not applicable
         (c)      Exhibits

                  10(w)    Agreement dated August 17, 2001 among Lynch
                           Corporation, Ralph R. Papitto and Mario J. Gabelli

                  99.1     Press Release dated August 17, 2001
Signatures

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

                                                     Lynch Corporation

                             By:  /s/Ralph R. Papitto
                             ------------------------
                                     Ralph R. Papitto
                                     Chief Executive Officer

Date: August 24, 2001
---------------------