-----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, E2tpF8cGQOBiCW7zxFfDZTvrnhJTqgebiuxY5EmBvkVzTdXTsE5f1v8ovjrXuK5S VGlUMfVOm/gNN77ZI4CqKA== 0001017918-98-000002.txt : 19980116 0001017918-98-000002.hdr.sgml : 19980116 ACCESSION NUMBER: 0001017918-98-000002 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19980115 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN RADIO SYSTEMS CORP /MA/ CENTRAL INDEX KEY: 0000943581 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 043196245 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-45351 FILM NUMBER: 98507028 BUSINESS ADDRESS: STREET 1: 116 HUNTINGTON AVE CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 6173757500 MAIL ADDRESS: STREET 1: 116 HUNTINGTON AVE STREET 2: 11TH FLOOR CITY: BOSTON STATE: MA ZIP: 02116 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN RADIO SYSTEMS CORP /MA/ DATE OF NAME CHANGE: 19950620 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN RADIO SYSTEMS CORP DATE OF NAME CHANGE: 19950406 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BANCO INC CENTRAL INDEX KEY: 0001017918 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133390015 STATE OF INCORPORATION: NY FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 767 PARK AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2125832000 MAIL ADDRESS: STREET 1: 767 PARK AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 SC 13D/A 1 AMENDMENT NO. 1 TO SCHEDULE 13D Page 1 of 11 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* AMERICAN RADIO SYSTEMS CORPORATION ----------------------------------------------------- (Name of Issuer) CLASS A ----------------------------------------------------- (Title of Class of Securities) 029161106 ----------------------------------------------------- (CUSIP Number) Linda S. Martinson, Esq. (212) 583-2000 767 Fifth Avenue, 24th Floor, New York, NY 10153 ----------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ----------------------------------------------------- (Date of Event which Requires Filing of 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 box [ ]. Check the following box if a fee is being paid with this statement [ ]. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) *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). SEC 1746 (12-91) Amendment Number 1 to Schedule 13D (continued) CUSIP No. 029161106 Page 2 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Group, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 180,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,896,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 180,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,896,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,116,020 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 1 to Schedule 13D (continued) CUSIP No. 029161106 Page 3 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BAMCO, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,574,000 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,574,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,028,420 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 1 to Schedule 13D (continued) CUSIP No. 029161106 Page 4 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Management, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 180,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 322,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 180,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 322,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,087,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 1 to Schedule 13D (continued) CUSIP No. 029161106 Page 5 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Asset Fund - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,375,000 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,375,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,110,300 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IV, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment No. 1 to Schedule 13D (continued) CUSIP No. 029161106 Page 6 of 11 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ronald Baron - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 180,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,896,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 180,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,896,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,116,020 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 7 of 11 Pages Item 1. Security and Issuer (a) Name of Issuer: American Radio Systems Corporation (b) Address of Issuer's Principal Executive Offices: 116 Huntington Avenue Boston, MA 02116 (c) Title and Class of Securities: Class A Item 2. Identity and Background (a) Name: Baron Capital Group, Inc. ("BCG") BAMCO, Inc. ("BAMCO") Baron Capital Management, Inc. ("BCM") Baron Asset Fund ("BAF") Ronald Baron (b) Business Address: 767 Fifth Avenue 24th Floor New York, NY 10153 (c) Present Principal Employment: BCG: Holding company BAMCO: Investment adviser BAF: Investment company Ronald Baron: President: BCG, BCM, BAMCO 767 Fifth Avenue 24th Floor New York, NY 10153 (d) Record of Convictions: During the last five years, Filing Persons were not convicted In a criminal proceeding (excluding traffic violations or similar misdemeanors.) (e) Record of Civil Proceedings: During the last five years, Filing Persons were not a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating such activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Citizenship: BCG, BAMCO and BCM are New York corporations. Ronald Baron is a citizen of the United States. Item 3. Source and Amount of Funds or Other Consideration In addition to common shares, Filing Persons are reporting preferred shares that convert into common, listed options, over- the-counter options and equity swap transactions, all on a converted or exercised basis. The common stock attributed to the Over-the-Counter options ("OTC Shares") are through Goldman, Sachs as European options pursuant to a standard agreement. The common stock attributed to the swaps ("Swap Shares") are through Lehman Brothers pursuant to a standard ISDA agreement. BAMCO directed the purchase of 1,903,420 shares of the issuer for its investment advisory clients for an aggregate purchase price of $60,112,384 and 145,000 shares attributed to listed options with an option purchase price (1,450 options) of $837,162(with regard to the 165,000 OTC Shares and 1,815,000 Swap Shares the price will be determined at time of execution). Of those shares, 1,610,300 shares were purchased for the account of BAF, for a total purchase price of $50,640,672 (with regard to the 1,500,000 Swap Shares the price will be determined at time of execution). BCM directed the purchase of 322,600 shares of the issuer for its investment advisory clients for an aggregate purchase price of $9,654,100 and 65,000 shares Page 8 of 11 Pages attributed to listed options with an option purchase price (650 options) of $423,130(with regard to the 35,000 OTC Shares and the 35,000 Swap Shares, the price will be determined at the time of execution.) BCM also directed the purchase of 180,000 shares for an investment partnership for an aggregate purchase price of $4,677,823 (with regard to the 300,000 OTC Shares and the 150,000 Swap Shares for two investment partnerships the price will be determined at the time of execution.) The shares (to the extent the purchases have been consummated) were paid for by cash assets in the respective clients' accounts and by margin borrowings for the account of one BCM client pursuant to standard margin agreements with Spear, Leeds & Kellogg. Item 4. Purpose of Transaction The securities referred to herein were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. Filing Persons reserve the right to discuss management and other proposals with other persons. Item 5. Interest in Securities of the Issuer (a) Amount and percentage beneficially owned: BCG: 5,116,020 20.5%* BAMCO: 4,028,420 16.1%* BCM: 1,087,600 4.4%* BAF: 3,110,300 12.5% Ronald Baron: 5,116,020 20.5%* *Disclaims beneficial ownership of these shares (b) Number of shares as to which such person has: (i) sole power to vote or direct the vote: BCG*: 180,000 BAMCO*: 0 BCM*: 180,000 BAF: 0 Ronald Baron*: 180,000 (ii) shared power to vote or direct the vote: BCG*: 1,896,600 BAMCO*: 1,574,000 BCM*: 322,600 BAF: 1,375,000 Ronald Baron*: 1,896,600 (iii) sole power to dispose or to direct the disposition: BCG*: 180,000 BAMCO*: 0 BCM*: 180,000 BAF: 0 Ronald Baron*: 180,000 (iv) shared power to dispose or direct the disposition: BCG*: 1,896,600 BAMCO*: 1,574,000 BCM*: 322,600 BAF: 1,375,000 Ronald Baron*: 1,896,600 *Reporting Persons may be deemed to share power to vote and dispose of shares referred to herein as a result of control relationships (BCG and Ronald Baron with respect to all of the shares; BAMCO with respect to the BAF shares) and pursuant to investment advisory relationships with advisory clients. The shares reported above for sole power are attributable to investment partnerships for which BCM and Ronald Baron serve as general partners. Reporting Persons have no current power to vote the OTC Shares or the Swap Shares and may not be able to currently convert those shares. Page 9 of 11 Pages (c) A schedule of transactions effected in the last sixty days is attached hereto. (d) Ownership of More than Five Percent on Behalf of Another Person: The investment advisory clients have the right to receive the dividends from, or the proceeds from the sale of the securities in their respective accounts. To the best of Reporting Person's knowledge, no person has such interest relating to more than 5% of the outstanding class of securities. (e) Ownership of Less than Five Percent: Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer By virtue of their investment advisory agreements with their clients, BCM and BAMCO have been given the discretion to dispose or direct the disposition of the securities in the advisory accounts. All such agreements are, however, revocable. The advisory agreements for the Baron Funds have been approved by their Board of Trustees. The agreements of the Baron Funds are filed as exhibit 99 to Form N1-A for Baron Asset Fund and are incorporated by reference herein. All the advisory agreements are pursuant to a standard form. Item 7. Material to be Filed as Exhibits Exhibit 99 - 60 days of trading. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: January 14, 1998 Baron Capital Group, Inc., BAMCO, Inc., Baron Capital Management, Inc. and Baron Asset Fund By: /s/ Ronald Baron _______________________________________ Ronald Baron, President Ronald Baron, Individually By: /s/ Ronald Baron _______________________________________ Ronald Baron EX-99 2 60-DAY TRANSACTION SCHEDULE Page 11 of 11 Pages Transaction Schedule From 11-14-97 To 01-14-98 Exec. Date Acct Trans Qty Symbol Price - -------- ---- ----- ----- -------- --------- 11-14-97 bcm sl 20000 afm 48.8125 11-18-97 bcm sl 100 afm 49.5625 11-18-97 bcm sl 500 afm 49.5465 11-19-97 bcm sl 600 afm 49.5625 11-19-97 bcm sl 200 afm 49.4750 11-19-97 bcm sl 2500 afm 49.4750 11-19-97 bcm sl 1500 afm 49.5625 11-19-97 bcm sl 300 afm 49.4750 11-19-97 bcm sl 1800 afm 49.5000 11-19-97 bcm sl 1200 afm 49.4479 11-19-97 bcm sl 2000 afm 49.4750 11-20-97 bcm sl 2800 afm 49.5130 11-20-97 bcm sl 200 afm 49.5130 11-20-97 bcm sl 600 afm 49.5130 11-20-97 bcm sl 2000 afm 49.5130 11-20-97 bcm sl 4000 afm 49.5130 11-25-97 bcm sl 100 afm 49.5000 11-25-97 bcm sl 1200 afm 49.5271 11-25-97 bcm sl 1000 afm 49.5271 11-25-97 bcm sl 400 afm 49.5488 12-01-97 bcm sl 3500 afm 49.8125 12-01-97 bcm sl 400 afm 49.7500 12-03-97 bcm sl 600 afm 50.4983 12-05-97 bcm sl 400 afm 51.8732 12-08-97 bcm sl 300 afm 51.9983 12-10-97 bcm sl 10000 afm 51.5625 12-11-97 bcm sl 5000 afm 51.3281 12-11-97 bcm sl 3000 afm 51.3281 12-12-97 bgi sl 1000 afm 51.6250 12-17-97 bcm sl 4000 afm 51.8281 12-19-97 bsc by 600 afm call 3.9583 12-19-97 bsc by 200 afm call 8.6250 12-22-97 bcm by 400 afm call 4.9063 12-22-97 bcm by 250 afm call 9.0625 12-22-97 bsc by 400 afm call 4.9063 12-22-97 bsc by 250 afm call 9.0625 12-31-97 baf by 20000 afm 53.2500 12-31-97 bcm by 350 afm otc ----- 12-31-97 bcp by 1500 afm otc ----- 12-31-97 bip by 1500 afm otc ----- 12-31-97 bsc by 1650 afm otc ----- 01-08-98 baf by 500000 afm swap ----- 01-08-98 bcm by 35000 afm swap ----- 01-08-98 bcp by 150000 afm swap ----- 01-08-98 bgi by 165000 afm swap ----- 01-08-98 bsc by 150000 afm swap ----- 01-14-98 baf by 1000000 afm swap ----- -----END PRIVACY-ENHANCED MESSAGE-----