-----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, Q44JUq4uQQ5I5wOebdIvL6aYXTHGf+pXeY/DkvrAM5yqmG71Xm3BKepgwjglTdEH V/rkM36c5zSV7J8TY4IF5w== 0000912057-96-025691.txt : 19961113 0000912057-96-025691.hdr.sgml : 19961113 ACCESSION NUMBER: 0000912057-96-025691 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961108 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961112 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHILDRENS BROADCASTING CORP CENTRAL INDEX KEY: 0000882160 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 411663712 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21534 FILM NUMBER: 96659495 BUSINESS ADDRESS: STREET 1: 724 1ST ST N STREET 2: 4TH FLOOR CITY: MINNEAPOLIS STATE: MN ZIP: 55401 BUSINESS PHONE: 6123383300 MAIL ADDRESS: STREET 1: 724 FIRST STREET NORTH STREET 2: FOURTH FLOOR CITY: MINNEAPOLIS STATE: MN ZIP: 55401 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: November 12, 1996 DATE OF EARLIEST EVENT REPORTED: November 8, 1996 CHILDREN'S BROADCASTING CORPORATION (Exact name of registrant as specified in its charter) MINNESOTA 0-21534 41-1663712 --------- ------- ---------- (State or other (Commission File No.) (IRS Employer ID No.) jurisdiction of incorporation) 724 FIRST STREET NORTH, MINNEAPOLIS, MINNESOTA 55401 ---------------------------------------------------- (Address of principal executive offices) (612) 338-3300 -------------- (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS. (a) Reference is made to the Press Release issued to the public by the Registrant on November 8, 1996, and attached hereto as an exhibit, relating to the Company signing a commitment letter for a $15 million loan from Foothill Capital Corporation. (b) Reference is made to the cautionary statements of the Registrant filed on Form 8-K on July 3, 1996. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits 99 Press Release dated November 8, 1996. 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 hereunto duly authorized. Dated: November 12, 1996 CHILDREN'S BROADCASTING CORPORATION BY: /s/ James G. Gilbertson -------------------------------------- James G. Gilbertson Chief Operating Officer, Chief Financial Officer and Treasurer EX-99 2 EXHIBIT 99 Exhibit 99 NEWS CONTACT: Joy Plaschko, Media Relations Manager, CBC, 612-330-9524 ------------------------------------------- FOR IMMEDIATE RELEASE November 8, 1996 CHILDREN'S BROADCASTING SECURES $15 MILLION FINANCING COMMITMENT MINNEAPOLIS -- Children's Broadcasting Corporation (CBC, Nasdaq NM: AAHS) announced today that it has signed a commitment letter for a $15 million loan from Foothill Capital Corporation, (a Norwest Company), Los Angeles. The loan will be secured by the assets of the company. The loan will provide CBC with working capital and cash for the acquisition of more radio stations to grow the Radio AAHS-Registered Trademark- distribution system. As working capital, the money will enhance the marketing and sales efforts that CBC has recently re-established in-house. Closing on the financing transaction is expected to occur in November 1996, but is subject to customary closing conditions. Children's Broadcasting Corporation's Radio AAHS-Registered Trademark- is an award-winning radio programming mix of music, news, stories and games, produced and distributed for children age 12 and under and their parents. The Company's Radio AAHS-Registered Trademark- format, which is broadcast via satellite from its flagship station WWTC-AM in Minneapolis is available to approximately 40 percent of the country. Radio AAHS-Registered Trademark- has an affiliated network of stations across the country, including company owned or operated stations that serve the markets of: New York, Los Angeles, Philadelphia, Detroit, Dallas, Minneapolis, Kansas City, and Denver, with a pending acquisitions in Chicago. It is the only live, 24-hour radio network for children and their families in the United States providing programming that includes shows from Universal Studios Hollywood, Universal Studios Orlando and "What's Up? with Evan Roberts," from Long Island, NY. CBC's Radio AAHS-Registered Trademark- is a multi-media product that includes the Radio AAHS-Registered Trademark- website, now accessible at http://www.netradioaahs.net and the Radio AAHS-Registered Trademark- interactive phone system number is 1-800-522-2470. -----END PRIVACY-ENHANCED MESSAGE-----