-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QfwrIo6p1TzhQVIFGcGtogxNIszcEGYEJb9wJ/Ot6xFpG42wRSoEkkhCX54X48+N a5Ndt52hm1KvcGM1oYb13w== 0000950146-97-001547.txt : 19971020 0000950146-97-001547.hdr.sgml : 19971020 ACCESSION NUMBER: 0000950146-97-001547 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19971017 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRICE COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000355787 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] IRS NUMBER: 132991700 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-34130 FILM NUMBER: 97697676 BUSINESS ADDRESS: STREET 1: 45 ROCKEFELLER PLZ STREET 2: STE 3201 CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2127575600 MAIL ADDRESS: STREET 1: 45 ROCKEFELLER PLAZA STREET 2: SUITE 3201 CITY: NEW YORK STATE: NY ZIP: 10020 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: 21ST CENTURY COMMUNICATIONS PARTNERS L P CENTRAL INDEX KEY: 0000930868 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 45TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2127548100 SC 13D 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 S C H E D U L E 13D Under the Securities Exchange Act of 1934 (Amendment No. )* PRICE COMMUNICATIONS CORPORATION - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 741437305 -------------- (CUSIP Number) Copy to: Mr. Edward Grinacoff 21st Century Communications Morrison Cohen Singer & Partners, L.P. Weinstein, LLP 767 Fifth Avenue, 45th Floor 750 Lexington Avenue New York, New York 10153 New York, New York 10022 Telephone (212) 754-8100 Telephone (212) 735-8600 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) October 6, 1997 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following space __. NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on following page(s)) - 1 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person 21st Century Communications Partners, L.P. - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- 7 Sole Voting Power 247,480 shares 4.5% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 117,520 shares 2.1% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 247,480 shares 4.5% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 117,520 shares 2.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 365,520 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 2 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person 21st Century Communications T-E Partners, L.P. - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- 7 Sole Voting Power 84,202 shares 1.5% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 280,798 shares 5.1% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 84,202 shares 1.5% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 280,798 shares 5.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 365,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 3 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person 21st Century Communications Foreign Partners, L.P. - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- 7 Sole Voting Power 33,318 shares .6% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 331,682 shares 6.0% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 33,318 shares .6% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 331,682 shares 6.0% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 365,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 4 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Sandler Capital Management - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization New York - -------------------------------------------------------------------------------- 7 Sole Voting Power 273,760 shares 4.9% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 365,000 shares 6.6% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 273,760 shares 4.9% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 365,000 shares 6.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 638,760 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 11.5% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 5 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Michael J. Marocco - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 0 shares 0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 818,760 shares 14.8% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 818,760 shares 14.8% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 818,760 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 14.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 6 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person John Kornreich - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 0 shares 0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 818,760 shares 14.8% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 818,760 shares 14.8% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 818,760 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 14.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 7 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Harvey Sandler - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 56,000 shares 1.0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 825,760 shares 14.9% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 56,000 shares 1.0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 825,760 shares 14.9% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 881,760 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 15.9% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 8 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Andrew Sandler - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 0 shares 0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 818,760 shares 14.8% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 818,760 shares 14.8% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 818,760 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 14.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 9 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Barry Rubenstein - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 0 shares 0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 365,000 shares 6.6% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 365,000 shares 6.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 365,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 10 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Barry Fingerhut - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 0 shares 0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 365,000 shares 6.6% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 365,000 shares 6.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 365,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 11 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Irwin Lieber - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 0 shares 0% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 365,000 shares 6.6% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 365,000 shares 6.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 365,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 12 of 30 - CUSIP No. 741437305 13D ================================================================================ 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Phyllis Sandler - -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group* (a) [_] (b) [_] - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* WC - -------------------------------------------------------------------------------- 5 Check Box if Disclosure of Legal Proceedings is Required [_] - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power 7,000 shares .1% -------------------------------------------------------------- Number of 8 Shared Voting Power Shares 56,000 shares 1.0% Beneficially -------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 7,000 shares .1% Reporting -------------------------------------------------------------- Person 10 Shared Dispositive Power With 56,000 shares 1.0% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 63,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [_] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 1.1% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 13 of 30 - This statement, dated October 6, 1997, relates to the reporting persons' acquisition of shares of common stock of Price Communications Corporation (the "Issuer"). ITEM 1. Security and Issuer. (a) Common Stock, $0.01 par value per share (the "Common Stock") (CUSIP No. 741437305). (b) Warrant (the "Warrant"), expiring on August 1, 2007, entitling the holder thereof to purchase one share of Common Stock at $0.01 per share, exercisable as of the earlier to occur of (i) the consummation of the acquisition of Palmer Wireless, Inc. and (ii) the occurrence of a change of control. (c) Price Communications Corporation 45 Rockefeller Plaza New York, New York 10020 ITEM 2. Identity and Background The reporting persons include, among others, Sandler Capital Management, a registered investment adviser and a New York general partnership ("SCM"), and Harvey Sandler, John Kornreich, Michael Marocco and Andrew Sandler, (each, an "Individual", and collectively, the "Individuals"). SCM shares are held through 21st Century Communications Partners, L.P. ("21st Century"), 21st Century Communications T-E Partners, L.P. ("T-E") and 21st Century Communications Foreign Partners, L.P. ("Foreign"), each of which is a Delaware limited partnership (collectively, the "Partnerships"). Sandler Investment Partners ("SIP") and Infomedia Associates, Ltd. ("Infomedia") are general partners of each of the Partnerships. SCM is the general partner of SIP. Barry Rubenstein, Irwin Lieber and Barry Fingerhut are the shareholders, officers and directors of Infomedia. SCM also holds securities on behalf of certain managed accounts with respect to which SCM exercises investment and voting discretion. Each Individual, through a Delaware or New York corporation that is controlled by such Individual and that serves as a general partner of SCM, may be deemed to be a beneficial owner of the securities held by the Partnerships and such managed accounts. Sandler Associates, a New York limited partnership, owns 130,000 shares of Common Stock. Each Individual is a general partner of Sandler Associates. 1. (a) 21st Century Communications Partners, L.P., a limited partnership organized under the laws of the State of Delaware. (b) Address: - 14 of 30 - 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. SIP and Infomedia are the general partners of 21st Century. The limited partners of 21st Century include certain other investors. 2. (a) 21st Century Communications T-E Partners, L.P., a limited partnership organized under the laws of the State of Delaware. (b) Address: 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. SIP and Infomedia are the general partners of T-E. The limited partners of T-E include certain other investors. 3. (a) 21st Century Communications Foreign Partners, L.P., a limited partnership organized under the laws of the State of Delaware. (b) Address: c/o Fiduciary Trust (Cayman) Limited P.O. Box 1062 Grand Cayman, B.W.I. (c) Principal Occupation: Investments. (d) No. (e) No. - 15 of 30 - SIP, 21st Century Management and Infomedia are the general partners of Foreign. The limited partners of Foreign include certain other investors. 4. (a) Sandler Capital Management, a registered investment adviser and a general partnership organized under the laws of the State of New York. (b) Address: 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. Harvey Sandler, John Kornreich and Andrew Sandler each control a Delaware corporation and Michael Marocco controls a New York corporation. Each of these corporations is a the general partner of SCM. SCM is the general partner of SIP, which is a general partner of each of 21st Century, T-E and Foreign. 5. (a) Michael J. Marocco, is the sole shareholder of MJDM Corp. (b) Address: 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Business: General Partner of partnerships and limited partnerships engaged in the investment business. (d) No. (e) No. (f) Citizenship: United States. MJDM Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. 6. (a) John Kornreich is the majority shareholder of Four JK Corp. (b) Address: - 16 of 30 - 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Business: General Partner of partnerships and limited partnerships engaged in the investment business. (d) No. (e) No. (f) Citizenship: United States. Four JK Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. 7. (a) Harvey Sandler is the sole shareholder of ARH Corp. (b) Address: 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Occupation: General Partner of partnerships and limited partnerships engaged in the investment business. (d) No. (e) No. (f) Citizenship: United States. ARH Corp. is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. Harvey Sandler is the husband of Phyllis Sandler and the father of Andrew Sandler. 8. (a) Andrew Sandler is the majority member of ALSI, LLC. (b) Address: 767 Fifth Avenue, 45th Floor New York, New York 10153 (c) Principal Occupation: General Partner of partnerships and limited partnerships engaged in the investment business. - 17 of 30 - (d) No. (e) No. (f) Citizenship: United States. ALSI, LLC is a general partner of SCM, which is the general partner of SIP, a general partner of 21st Century, T-E and Foreign. Andrew Sandler is the son of Harvey Sandler and Phyllis Sandler. 9. (a) Barry Rubenstein, a shareholder, President and director of Infomedia. (b) Address: 68 Wheatley Road Brookville, New York 11545 (c) Principal Occupation: General Partner of partnerships and limited partnerships engaged in the investment business. (d) No. (e) No. (f) United States. Infomedia is a general partner of 21st Century, T-E and Foreign. 10. (a) Barry Fingerhut, a shareholder, Executive Vice President and director of Infomedia. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investment adviser. (d) No. (e) No. (f) United States. Infomedia is a general partner of 21st Century, T-E and Foreign. - 18 of 30 - 11. (a) Irwin Lieber, a shareholder, Secretary and Treasurer and a director of Infomedia. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investment adviser. (d) No. (e) No. (f) United States. Infomedia is a general partner of 21st Century, T-E and Foreign. 12. (a) Phyllis Sandler (b) Address: 17663 Lake Estate Drive Boca Raton, Florida 33496 (c) Principal Occupation: Investor (d) No. (e) No. (f) Citizenship: United States Phyllis Sandler is the wife of Harvey Sandler and the mother of Andrew Sandler. ITEM 3. Source and Amount of Funds or Other Consideration. The source of funds for the acquisition of the securities was the general working capital of the Partnerships, the general working capital of the various managed accounts, the general working capital of Sandler Associates and the working capital in the personal investment accounts of Harvey Sandler and Phyllis Sandler. The amount of funds used in acquiring the shares of Common Stock and the Warrants are set forth below: - 19 of 30 - Number of Shares and Purchase Warrants Price ---------- ---------- 21st Century Communications Partners, L.P. 247,480 $1,995,308 21st Century Communications T-E Partners, L.P. 84,202 678,879 21st Century Communications Foreign Partners, L.P. 33,318 268,626 Accounts Managed by SCM 273,760 2,244,085 Sandler Associates 180,000 1,437,612 Harvey Sandler 56,000 480,313 Phyllis Sandler 7,000 63,000 ITEM 4. Purpose of Transaction. The reporting persons acquired their securities for the purposes of investment. The reporting persons do not have any plans or proposals which relate to or would result in any of the actions set forth in subparagraphs (a) through (j) of Item 4 of Schedule 13D. ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 5,528,881 shares of Common Stock outstanding as reported by the Issuer to the reporting persons as of October 6, 1997) of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of October 8, 1997: Shares of Percentage of Shares Common Stock of Common Stock Beneficially Own Beneficially Owned * * Name 21st Century Communications 365,000(1) 6.6% Partners, L.P. - -------- * Incudes shares of Common Stock issuable upon the exercise of the Warrants. (1) Includes 247,480 shares of Common Stock owned by 21st Century. 21st Century disclaims beneficial ownership of 84,202 shares of Common Stock owned by T-E and 33,318 shares of Common Stock owned by Foreign. - 20 of 30 - 21st Century Communications T-E 365,000(2) 6.6% Partners, L.P. 21st Century Communications Foreign 365,000(3) 6.6% Partners, L.P. Sandler Capital Management 638,760(4,5) 11.5% Michael J. Marocco 818,760(5,6) 14.8% John Kornreich 818,760(5,6) 14.8% Harvey Sandler 881,760(5,6,7,9) 15.9% Andrew Sandler 818,760(5,6) 14.8% Barry Rubenstein 365,000(5,8) 6.6% Barry Fingerhut 365,000(5,8) 6.6% Irwin Lieber 365,000(5,8) 6.6% Phyllis Sandler 63,000(5,7,9) 1.1% (b) By virtue of being the general partner of SIP and the manager of certain accounts owning shares of Common Stock and Warrants with respect to which SCM exercises investment discretion, SCM may be deemed to have shared power to vote and to dispose of 638,760 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants), representing approximately 11.5% of the outstanding Common Stock. By virtue of being the sole shareholder of MJ DM Corp. and a general partner of Sandler Associates, Michael J. Marocco may be deemed to have shared power to vote and to dispose of 818,760 shares of Common Stock (which includes shares of Common Stock issuable - -------- (2) Includes 84,202 shares of Common Stock owned by T-E. T-E disclaims beneficial ownership of 247,480 shares of Common Stock owned by 21st Century and 33,318 shares of Common Stock owned by Foreign. (3) Includes 33,318 shares of Common Stock owned by Foreign. Foreign disclaims beneficial ownership of 247,480 shares of Common Stock owned by 21st Century and 84,202 shares of Common Stock owned by T-E. (4) Includes 247,480 shares of Common Stock owned by 21st Century, 84,202 shares of Common Stock owned by T-E and 33,318 shares of Common Stock owned by Foreign. SCM disclaims beneficial ownership of 260,000 shares of Common Stock and 13,760 shares of Common Stock issuable upon the exercise of the Warrants held in accounts managed by SCM. (5) The reporting person disclaims beneficial ownership of these securities, except to the extent of his/her/its equity interest therein. (6) Includes 247,480 shares of Common Stock owned by 21st Century, 84,202 shares of Common Stock owned by T-E, 33,318 shares of Common Stock owned by Foreign and 180,000 shares of Common Stock owned by Sandler Associates. The reporting person disclaims beneficial ownership of 260,000 shares of Common Stock and 13,760 shares of Common Stock issuable upon the exercise of the Warrants held in accounts managed by SCM. (7) Includes 56,000 shares of Common Stock owned by Harvey Sandler. (8) Includes 247,480 shares of Common Stock owned by 21st Century, 84,202 shares of Common Stock owned by T-E and 33,318 shares of Common Stock owned by Foreign. (9) Includes 7,000 shares of Common Stock owned by Phyllis Sandler. - 21 of 30 - upon the exercise of the Warrants), representing approximately 14.8% of the outstanding Common Stock. By virtue of being the sole shareholder of Four JK Corp. and a general partner of Sandler Associates, John Kornreich may be deemed to have shared power to vote and to dispose of 818,760 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants), representing approximately 14.8% of the outstanding Common Stock. By virtue of being the sole shareholder of ARH Corp. a general partner of Sandler Associates, and the husband of Phyllis Sandler, Harvey Sandler may be deemed to have shared power to vote and to dispose of 825,760 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants), representing approximately 14.9% of the outstanding Common Stock. Harvey Sandler has sole power to vote and to dispose of 56,000 shares of Common Stock, representing approximately 1.0% of the outstanding Common Stock. By virtue of being a majority member of ALSI, LLC and a general partner of Sandler Associates, Andrew Sandler may be deemed to have shared power to vote and to dispose of 818,760 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants), representing approximately 14.8% of the outstanding Common Stock. By virtue of being a shareholder, officer and director of Infomedia, Barry Rubenstein may be deemed to have shared power to vote and to dispose of 365,000 shares of Common Stock, representing approximately 6.6% of the outstanding Common Stock. By virtue of being a shareholder, officer and director of Infomedia, Irwin Lieber may be deemed to have shared power to vote and to dispose of 365,000 shares of Common Stock, representing approximately 6.6% of the outstanding Common Stock. By virtue of being a shareholder, officer and director of Infomedia, Barry Fingerhut may be deemed to have shared power to vote and to dispose of 365,000 shares of Common Stock, representing approximately 6.6% of the outstanding Common Stock. By virtue of being the wife of Harvey Sandler, Phyllis Sandler may be deemed to have shared power to vote and to dispose of 56,000 shares of Common Stock, representing approximately 1.0% of the outstanding Common Stock. Phyllis Sandler has sole power to vote and to dispose of 7,000 shares of Common Stock, representing approximately .1% of the outstanding Common Stock. (c) The following is a description of all transactions in the shares of Common Stock and the Warrants by the persons identified in Item 2 of this Schedule 13D effected from August 6, 1997 through October 8, 1997, inclusive: - 22 of 30 - Number of Shares Purchase or of Common Stock Purchase or Name of Shareholder Sale Date Purchased or (Sold) Sale Price - ------------------- ----------- ------------------- ---------- 21st Century Communications Partners, L.P. 10/06/97 247,480* $8.0625 21st Century Communications T-E Partners, L.P. 10/06/97 84,202* $8.0625 21st Century Communications Foreign Partners, L.P. 10/06/97 33,318* $8.0625 Sandler Associates 8/06/97 20,000 $7.766 10/06/97 130,000* $8.0625 Accounts Managed by Sandler Capital Management 8/06/97 10,000 $7.766 10/06/97 210,000* $8.0625 Harvey Sandler 10/06/97 25,000* $8.0625 10/07/97 17,000 $9.00 10/07/97 4,000 $8.9375 10/08/97 10,000 $9.00 Phyllis Sandler 10/07/97 4,000 $9.00 10/08/97 3,000 $9.00 * The shares of Common Stock were purchased from the Issuer on October 6, 1997. All other purchases of Common Stock were effected in open market transactions on the American Stock Exchange. (d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of such securities. (e) Not applicable. - 23 of 30 - ITEM 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer (a) 21st Century is a limited partnership established and governed by Delaware law and a partnership agreement. Pursuant to such agreement, voting and investment power over the shares of Common Stock held by 21st Century is vested in its general partners SIP and Infomedia. The limited partners have no voting or investment power over the shares of Common Stock held by 21st Century. (b) T-E is a limited partnership established and governed by Delaware law and a partnership agreement. Pursuant to such agreement, voting and investment power over the shares of Common Stock held by 21st Century is vested in its general partners - SIP and Infomedia. The limited partners have no voting or investment power over the shares of Common Stock held by T-E. (c) Foreign is a limited partnership established and governed by Delaware law and a partnership agreement. Pursuant to such agreement, voting and investment power over the shares of Common Stock held by Foreign is vested in its general partners - SIP and Infomedia. The limited partners have no voting or investment power over the shares of Common Stock held by Foreign. (d) Except for the circumstances discussed or referred to in paragraphs (a) through (c) above, there are no contracts, arrangements, understandings, or relationships with respect to the securities of the Issuer among any of the persons reporting in this Schedule 13D. ITEM 7. Material to be filed as Exhibits. Exhibit 7.01 Agreement, dated October 15, 1997, among the reporting persons by which they have agreed to file this Schedule 13D and all necessary amendments, as required by Rule 13d-1(f). - 24 of 30 - Signature After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned hereby certifies that the information set forth in this Schedule is true, complete, and correct. Date: October 15, 1997 21ST CENTURY COMMUNICATIONS PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: s/ Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: s/ Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: s/ Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer - 25 of 30 - s/ Michael J. Marocco -------------------------------------- Michael J. Marocco s/ John Kornreich -------------------------------------- John Kornreich s/ Harvey Sandler -------------------------------------- Harvey Sandler s/ Andrew Sandler -------------------------------------- Andrew Sandler s/ Barry Rubenstein -------------------------------------- Barry Rubenstein s/ Irwin Lieber -------------------------------------- Irwin Lieber s/ Barry Fingerhut -------------------------------------- Barry Fingerhut - 26 of 30 - SANDLER CAPITAL MANAGEMENT By: ARH Corp. By: s/ Edward Grinacoff --------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer s/ Phyllis Sandler --------------------------- Phyllis Sandler ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). - 27 of 30 - Exhibit 7.01 JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act, as amended, the undersigned hereby agree to the joint filing on behalf of each of them on a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $.01 per share, of Price Communications Corporation and that this Agreement be included as an Exhibit to such joint filing. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 15th day of October, 1997. 21ST CENTURY COMMUNICATIONS PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: s/ Edward Grinacoff ------------------------------------------ Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: s/ Edward Grinacoff ------------------------------------------ Name: Edward Grinacoff Title: Secretary and Treasurer 21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P. By: Sandler Investment Partners, L.P., general partner By: Sandler Capital Management, general partner By: ARH Corp., general partner By: s/Edward Grinacoff ------------------------------------------ Name: Edward Grinacoff Title: Secretary and Treasurer - 28 of 30 - s/ Michael J. Marocco -------------------------------------- Michael J. Marocco s/ John Kornreich -------------------------------------- John Kornreich s/ Harvey Sandler -------------------------------------- Harvey Sandler s/ Andrew Sandler -------------------------------------- Andrew Sandler s/ Barry Rubenstein -------------------------------------- Barry Rubenstein s/ Irwin Lieber -------------------------------------- Irwin Lieber s/ Barry Fingerhut -------------------------------------- Barry Fingerhut - 29 of 30 SANDLER CAPITAL MANAGEMENT By: ARH Corp. By: s/ Edward Grinacoff -------------------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer s/ Phyllis Sandler -------------------------------------- Phyllis Sandler ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). - 30 of 30 -----END PRIVACY-ENHANCED MESSAGE-----