-----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, F8kM/QgOs/5gkq4XxipK1valUqQlV7dRtHTdUMYoBu4c8SmNnAkWIbTvOhx6vjvw +7cqsKjeXPbWzPc7DpIILg== 0001005477-99-004204.txt : 19990906 0001005477-99-004204.hdr.sgml : 19990906 ACCESSION NUMBER: 0001005477-99-004204 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990902 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990903 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITEL VIDEO INC/DE CENTRAL INDEX KEY: 0000740103 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ALLIED TO MOTION PICTURE PRODUCTION [7819] IRS NUMBER: 231713238 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08654 FILM NUMBER: 99706079 BUSINESS ADDRESS: STREET 1: 555 WEST 57TH STREET STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2122653600 MAIL ADDRESS: STREET 1: 555 WEST 57TH STREET STREET 2: 12FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 2, 1999 ----------------- UNITEL VIDEO, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 1-8654 23-1713238 - ---------------------------- ----------- ---------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 555 West 57th Street, New York, New York 10019 - ---------------------------------------- --------- (Address of principal executive offices) (Zip Code) 212-265-3600 ---------------------------------------------------- (Registrant's telephone number, including area code) N/A ------------------------------- (Former name or former address, if changed since last report.) FORM 8-K UNITEL VIDEO, INC. (File no. 1-8654) Page 2 of 2 ================================================================================ Item 5. Other Events On September 3, 1999, Unitel Video, Inc. (the "Company") issued a press release announcing that the Company and its domestic subsidiaries have filed voluntary petitions seeking protection under Chapter 11 of the United States Bankruptcy Code. The filing, supported by debtor-in-possession financing being provided by Heller Financial, Inc., will enable the Company to conduct its business or, additionally or in the alternative, find a strategic buyer of its divisions or business or an investor for its business while it attempts to negotiate a plan to reorganize with its major creditors and to seek additional capital. A copy of the press release is attached to this Form 8-K as Exhibit 99.1. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Financial statements of business acquired: Not applicable (b) Pro forma financial information: Not applicable (c) Exhibits: 99.1: Unitel Video, Inc. Press Release dated September 3, 1999. SIGNATURES 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 hereunto duly authorized. UNITEL VIDEO, INC. Dated: September 3, 1999 By /s/ Barry Knepper ----------------------- Barry Knepper Chief Executive Officer EXHIBIT INDEX Exhibit Number Description -------------- ----------- 99.1 Unitel Video, Inc. Press Release dated September 3, 1999 EX-99.1 2 UNITEL VIDEO, INC. PRESS RELEASE News Announcement CONTACT: Joel Getzler, Getzler & Co., Inc. 212/697-2400 FOR IMMEDIATE RELEASE UNITEL VIDEO, INC. FILES FOR VOLUNTARY CHAPTER 11, ANTICIPATES OBTAINING $3.5 MILLION POST-PETITION FINANCING FOR CONTINUING OPERATIONS New York, New York - September 3, 1999 - Unitel Video, Inc. (AMEX:UNV) (the "Company") announced today that, on September 2, 1999 (the "Filing Date"), it and its domestic subsidiaries (R Squared, Inc. ("R Squared"), Unitel 53 LLC, and Unitel 57 LLC) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Chapter 11 filings, supported by proposed debtor-in-possession financing being provided by Heller Financial, Inc., will enable the Company to conduct its business or, additionally or in the alternative, find a strategic buyer of its divisions or business or an investor for its business while it attempts to negotiate a plan to reorganize with its major creditors and to seek additional capital. Subject to court approval, the Company expects to use the $3.5 million debtor-in-possession commitment from Heller Financial, Inc., coupled with operating revenue, to fulfill obligations associated with operating its business. In addition, the Company announced that, on September 2, 1999, the Company closed its post-production division located at 8 West 38th Street in New York City and terminated substantially all of its employees working in such division. The Company also announced that Walter Arader has resigned from the Board of Directors. Commenting on the announcement, Abraham E. Getzler, Chairman of Getzler & Co., Inc., the Company's management consultant which is overseeing and managing the day-to-day operations of the Company, said, "The filing, coupled with the new financing, affords the Company the opportunity to stabilize its financial situation, restructure its balance sheet, and reinforce and maximize the underlying value of its business to attract additional investors or strategic partners." As of May 31, 1999, the Company had consolidated assets (unaudited) of approximately $56.8 million and consolidated liabilities (unaudited) of approximately $52.4 million. Unitel is a leading provider of studio and mobile production facilities to virtually every major entertainment company in the United States. Unitel's New York City studios are home to King World Production's "Inside Edition", Paramount Picture's "The Montel Williams Show", and Eyemark Entertainment's the "Dr. Joy Browne Show". Unitel Mobile Video, based in Pittsburgh and Burbank, is the pre-eminent supplier of mobile facilities to the entertainment industry. This news announcement contains certain forward-looking statements under federal securities laws which are based upon current expectations and involve certain risks and uncertainties. Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, readers should note that these statements may be impacted by several factors, and, accordingly, Unitel's actual performance and results may vary from those stated herein. -----END PRIVACY-ENHANCED MESSAGE-----