-----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, Mlo/Ty5UmCPCkz6XH18gAVuN+1ssFxvb25y931rwTbedPv3i/HZnGEJylvFNzbps XWWWeaXYQMw8X5LYPMKVaQ== /in/edgar/work/20001101/0000950103-00-001204/0000950103-00-001204.txt : 20001106 0000950103-00-001204.hdr.sgml : 20001106 ACCESSION NUMBER: 0000950103-00-001204 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001101 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20001101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIBERTY CORP CENTRAL INDEX KEY: 0000059229 STANDARD INDUSTRIAL CLASSIFICATION: [6311 ] IRS NUMBER: 570507055 STATE OF INCORPORATION: SC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05846 FILM NUMBER: 751258 BUSINESS ADDRESS: STREET 1: 2000 WADE HAMPTON BLVD CITY: GREENVILLE STATE: SC ZIP: 29615 BUSINESS PHONE: 8646098256 MAIL ADDRESS: STREET 1: P O BOX 789 STREET 2: WADE HAMPTON BLVD CITY: GREENVILLE STATE: SC ZIP: 29602 8-K 1 0001.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------------------- FORM 8K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) November 1, 2000 -------------------------------- The Liberty Corporation - -------------------------------------------------------------------------------- (Exact name of Registrant as Specified in Charter) South Carolina 1-5846 57-0507055 - -------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification No.) 2000 Wade Hampton Boulevard, Greenville, SC 29615 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (864) 609-8256 ------------------------------ n/a - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. On November 1, 2000, The Liberty Corporation ("Liberty") completed the sale of its wholly-owned insurance subsidiaries, Liberty Life Insurance Company, Liberty Insurance Services Corporation, The Liberty Marketing Corporation, LC Insurance Limited and Liberty Capital Advisors, Inc., to the Royal Bank of Canada ("RBC"), a Canadian-chartered bank, for a total of $646,200,000 million, consisting of a dividend from Liberty Life Insurance Company of $70,000,000 and the balance in cash. 2 Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. Exhibits Description - -------- ----------- 99.1 Press Release, dated as of November 1, 2000, of The Liberty Corporation 3 SIGNATURE 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 thereunto duly authorized. THE LIBERTY CORPORATION By: /s/ Martha Williams ------------------------------------------ Name: Martha Williams Title: Vice President, General Counsel and Secretary November 1, 2000 4 EXHIBIT INDEX Exhibits Description - -------- ----------- 99.1 Press Release, dated as of November 1, 2000, of The Liberty Corporation EX-99.1 2 0002.txt PRESS RELEASE Liberty - ------------------------------------------------------------------------------- The Liberty Corporation. Box 789 Greenville, SC 29602-0789 For Further Information: Ken Jones (864) 609-3496 LIBERTY CORP. COMPLETES SALE OF ITS INSURANCE OPERATIONS TO ROYAL BANK OF CANADA GREENVILLE, S.C., November 1, 2000 - The Liberty Corp. (NYSE: LC) today announced that it has completed the sale of its insurance operations to Royal Bank of Canada for approximately $650 million in cash. In June, Liberty announced plans to exit the insurance business and focus on aggressively expanding its core broadcasting business and the new media/digital opportunities associated with broadcasting. Shareholders approved the sale at a special meeting held September 29, 2000. A major group broadcaster, Liberty's Cosmos subsidiary currently owns twelve network-affiliated television stations, including seven NBC affiliates (WALB-TV, Albany, Ga.; KCBD-TV, Lubbock, Tx.; WAVE-TV, Louisville, Ky.; WIS-TV, Columbia, S.C.; WSFA-TV, Montgomery, Ala.; WFIE-TV, Evansville, Ind.; and KPLC-TV, Lake Charles, La.); three ABC affiliates (KAIT-TV, Jonesboro, Ark., WLOX-TV, Biloxi, Miss., and WWAY-TV, Wilmington, N.C.); and two CBS affiliates (KGTB-TV, Harlingen, Tx., and WTOL-TV, Toledo, Ohio). Additionally, Cosmos has entered into a definitive agreement to acquire Civic Communication. The Civic acquisition will add WLBT-TV, the NBC affiliate in Jackson, MS., KLTV-TV, the ABC affiliate in Tyler, Tx. and KTRE-TV, the satellite affiliate of KLTV in Lufkin, Tx. The transaction is subject to regulatory approval and other customary conditions and is expected to close in the fourth quarter of 2000. Cosmos also owns CableVantage Inc., a cable advertising sales subsidiary; Take Ten productions, a video production facility; Broadcast Merchandising Company, a professional broadcast equipment dealership, and SuperCoups USA, a direct mail coupon business serving small business owners. Forward-Looking Statements The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information contained herein or in any other written or oral statements made by, or on behalf of the Company, is or may be viewed as forward looking. The words "expect," "believe," "anticipate" or similar expressions identify forward-looking statements. Although the Company has used appropriate care in developing any such forward looking information, forward looking information involves risks and uncertainties that could significantly impact actual results. These risks and uncertainties include, but are not limited to, the following: changes in national and local markets for television advertising; changes in general economic conditions, including the performance of financial markets and interest rates; competitive, regulatory, or tax changes that affect the cost of or demand for the Company's products; and adverse litigation results. The Company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future developments, or otherwise. -END- -----END PRIVACY-ENHANCED MESSAGE-----