-----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, SchXItPfZdVWxgE8KCK3tRMXrugMpuIYIpqzO9XZOP44rrRdrW3olYPoo16KJ7E/ iUj9Anj66y9m4WM8y7OrrQ== 0001005477-97-000894.txt : 19970328 0001005477-97-000894.hdr.sgml : 19970328 ACCESSION NUMBER: 0001005477-97-000894 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970327 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SOURCE MEDIA INC CENTRAL INDEX KEY: 0000900029 STANDARD INDUSTRIAL CLASSIFICATION: TELEGRAPH & OTHER MESSAGE COMMUNICATIONS [4822] IRS NUMBER: 133700438 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-46351 FILM NUMBER: 97565825 BUSINESS ADDRESS: STREET 1: 8140 WALNUT HILL LANE STE 1000 CITY: DALLAS STATE: TX ZIP: 75231 BUSINESS PHONE: 9146695811 MAIL ADDRESS: STREET 1: 8140 WALNUT HILL LANE STREET 2: STE 1000 CITY: DALLAS STATE: TX ZIP: 75231 FORMER COMPANY: FORMER CONFORMED NAME: HB COMMUNICATIONS ACQUISITION CORP DATE OF NAME CHANGE: 19950703 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/A BUSINESS ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 45TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2127548100 SC 13D/A 1 AMENDMENT NO. 4 TO SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------- SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 (AMENDMENT NO. 4)* SOURCE MEDIA, INC. (f/k/a HB Communications Acquisition Corp.) - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK $0.001 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 404091100 - -------------------------------------------------------------------------------- (CUSIP Number) Mr. Edward Grinacoff Stephen A. Cohen, Esq. 21st Century Communications Partners, Morrison Cohen Singer & Weinstein, LLP L.P. 750 Lexington Avenue 767 Fifth Avenue, 45th Floor New York, New York 10022 New York, New York 10153 Telephone (212) 735-8600 Telephone (212) 754-8100 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 15, 1996 - -------------------------------------------------------------------------------- (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 |_|. 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). - 1 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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 Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 929,290 shares 8.8% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 441,288 shares 4.3% Person -------------------------------------------------------- With 9 Sole Dispositive Power 929,290 shares 8.8% -------------------------------------------------------- 10 Shared Dispositive Power 441,288 shares 4.3% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,370,578 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 2 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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 Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 316,146 shares 3.1% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,054,432 shares 9.9% Person -------------------------------------------------------- With 9 Sole Dispositive Power 316,146 shares 3.1% -------------------------------------------------------- 10 Shared Dispositive Power 1,054,432 shares 9.9% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,370,578 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 3 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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 Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 125,142 shares 1.2% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,245,436 shares 11.5% Person -------------------------------------------------------- With 9 Sole Dispositive Power 125,142 shares 1.2% -------------------------------------------------------- 10 Shared Dispositive Power 1,245,436 shares 11.5% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,370,578 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 4 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 21,788 shares 0.2% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,370,578 shares 12.6% Person -------------------------------------------------------- With 9 Sole Dispositive Power 21,788 shares 0.2% -------------------------------------------------------- 10 Shared Dispositive Power 1,370,578 shares 12.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,392,366 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 5 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 1 Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Barry Lewis - -------------------------------------------------------------------------------- 2 Check the Appropriate Box If a Member of a Group* a. |_| b. |_| - -------------------------------------------------------------------------------- 3 SEC Use Only - -------------------------------------------------------------------------------- 4 Source of Funds* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 21,788 shares 0.2% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,370,578 shares 12.6% Person -------------------------------------------------------- With 9 Sole Dispositive Power 21,788 shares 0.2% -------------------------------------------------------- 10 Shared Dispositive Power 1,370,578 shares 12.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,392,366 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 6 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 21,788 shares 0.2% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,370,578 shares 12.6% Person -------------------------------------------------------- With 9 Sole Dispositive Power 21,788 shares 0.2% -------------------------------------------------------- 10 Shared Dispositive Power 1,370,578 shares 12.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,392,366 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 7 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 38,129 shares 0.4% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,370,578 shares 12.6% Person -------------------------------------------------------- With 9 Sole Dispositive Power 38,129 shares 0.4% -------------------------------------------------------- 10 Shared Dispositive Power 1,370,578 shares 12.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,408,707 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.9% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 8 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 5,447 shares 0.1% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,370,578 shares 12.6% Person -------------------------------------------------------- With 9 Sole Dispositive Power 5,447 shares 0.1% -------------------------------------------------------- 10 Shared Dispositive Power 1,370,578 shares 12.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,376,025 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 12.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 9 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 39,814 shares 0.4% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,656,828 shares 14.9% Person -------------------------------------------------------- With 9 Sole Dispositive Power 39,814 shares 0.4% -------------------------------------------------------- 10 Shared Dispositive Power 1,656,828 shares 14.9% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,696,642 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 15.2% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 10 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 38,814 shares 0.4% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,420,578 shares 13.1% Person -------------------------------------------------------- With 9 Sole Dispositive Power 38,814 shares 0.4% -------------------------------------------------------- 10 Shared Dispositive Power 1,420,578 shares 13.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,459,392 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 13.4% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 11 of 17 - SCHEDULE 13D CUSIP No. 404091100 - -------------------------------------------------------------------------------- 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* PF, OO - -------------------------------------------------------------------------------- 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7 Sole Voting Power Number of Shares 38,814 shares 0.4% Beneficially -------------------------------------------------------- Owned By 8 Shared Voting Power Each Reporting 1,420,578 shares 13.1% Person -------------------------------------------------------- With 9 Sole Dispositive Power 38,814 shares 0.4% -------------------------------------------------------- 10 Shared Dispositive Power 1,420,578 shares 13.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,459,392 shares - -------------------------------------------------------------------------------- 12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_| - -------------------------------------------------------------------------------- 13 Percent of Class Represented By Amount in Row (11) 13.4% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! - 12 of 17 - This statement, dated August 15, 1996, constitutes Amendment No. 4 to the Schedule 13D, dated March 24, 1995, regarding the reporting persons' ownership of certain securities of Source Media, Inc. (formerly known as HB Communications Acquisition Corp.) (the "Issuer"). The Schedule 13D is hereinafter referred to as the "Schedule." All capitalized terms used herein and otherwise undefined shall have the meanings ascribed in the Schedule. This Amendment No. 4 to the Schedule is filed in accordance with Rule 13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the reporting persons. Pursuant to Rule 13d-2, it shall state the information which has materially changed since the filing of the Schedule. ITEM 2. Identity and Background 4. (a) Michael J. Marocco, director, officer and sole shareholder of MJM Media Corp., a member of the Advisory Committee of the Issuer and a director of the Issuer. ITEM 3. Source and Amount of Funds or Other Consideration. On August 15, 1996, each of the reporting persons assigned their respective 1996 Rights and 1997 Rights to GKN Securities Corp. and/or Lyon Securities, Inc. ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 9,946,162 shares of Common Stock outstanding as reported in the Issuer's Form 10-Q for the quarter ended June 30, 1996) of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of September 1, 1996: Shares of Percentage of Shares Common Stock of Common Stock Name Beneficially Owned(1) Beneficially Owned(1) - ---- --------------------- --------------------- 21st Century Communications 1,370,578(2) 12.6% Partners, L.P. - ---------- (1) Includes shares of Common Stock issuable upon the exercise of the Warrants. (2) Includes 293,341 shares of Common Stock and 635,949 and shares of Common Stock issuable upon the exercise of the Warrants. 21st Century disclaims beneficial ownership of 316,146 shares of Common Stock owned by T-E and 125,142 shares of Common Stock owned by Foreign. - 13 of 17 - 21st Century Communications T-E 1,370,578(3) 12.6% Partners, L.P. 21st Century Communications Foreign 1,370,578(4) 12.6% Partners, L.P. Michael J. Marocco 1,392,366(5) 12.8% Barry Lewis 1,392,366(5) 12.8% John Kornreich 1,392,366(5) 12.8% Harvey Sandler 1,408,707(5) 12.7% Andrew Sandler 1,376,025(5) 12.7% Barry Rubenstein 1,696,642(5),(6),(7) 15.3% Irwin Lieber 1,459,392(5),(6) 13.4% Barry Fingerhut 1,459,392(5),(6) 13.4% (b) By virtue of being the sole shareholder, officer and director of MJM Media Corp., Michael J. Marocco may be deemed to have shared power to vote and to dispose of 1,370,578 shares of Common Stock, representing approximately 12.6% of the outstanding Common Stock. Michael J. Marocco has sole power to vote and to dispose of 21,788 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). By virtue of being the majority shareholder and director of EMEBE Corp., Barry Lewis may be deemed to have shared power to vote and to dispose of 1,370,578 shares of Common Stock, representing approximately 12.6% of the outstanding Common Stock. Barry Lewis has sole power to vote and to dispose of 21,788 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). By virtue of being the majority shareholder and director of Four JK Corp., John Kornreich may be deemed to have shared power to vote and to dispose of 1,370,578 shares of Common Stock, representing approximately 12.6% of the outstanding Common Stock. John Kornreich has sole power to vote and to dispose of 21,788 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). - ---------- (3) Includes 99,772 shares of Common Stock and 216,374 shares of Common Stock issuable upon the exercise of the Warrants. T-E disclaims beneficial ownership of 929,290 shares of Common Stock owned by 21st Century and 125,142 shares of Common Stock owned by Foreign. (4) Includes 39,527 shares of Common Stock and 85,615 shares of Common Stock issuable upon the exercise of the Warrants. Foreign disclaims beneficial ownership of 929,290 shares of Common Stock owned by 21st Century and 316,146 shares of Common Stock owned by T-E. (5) The reporting person disclaims beneficial ownership of these securities, except to the extent of his equity interest therein. (6) Includes 50,000 shares of Common Stock owned by Applewood Associates, L.P. (7) Includes 101,875 shares of Common Stock issuable upon the exercise of a warrant owned by Woodland Partners and 134,375 shares of Common Stock issuable upon the exercise of a warrant owned by Dalewood. - 14 of 17 - By virtue of being the sole shareholder of ARH Corp., Harvey Sandler may be deemed to have shared power to vote and to dispose of 1,370,578 shares of Common Stock, representing approximately 12.6% of the outstanding Common Stock. Harvey Sandler has sole power to vote and to dispose of 38,129 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). By virtue of being a manager and majority member of ALSI, LLC, Andrew Sandler may be deemed to have shared power to vote and to dispose of 1,370,578 shares of Common Stock, representing approximately 12.6% of the outstanding Common Stock. Andrew Sandler has sole power to vote and to dispose of 5,447 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). By virtue of being a shareholder, officer and director of InfoMedia and Dalewood, and a general partner of Woodland Partners and Applewood, Barry Rubenstein may be deemed to have shared power to vote and to dispose of 1,656,828 shares of Common Stock, representing approximately 14.9% of the outstanding Common Stock. Barry Rubenstein has sole power to vote and to dispose of 39,814 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Applewood, Irwin Lieber may be deemed to have shared power to vote and to dispose of 1,420,578 shares of Common Stock, representing approximately 13.1% of the outstanding Common Stock. Irwin Lieber has sole power to vote and to dispose of 38,814 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). By virtue of being a shareholder, officer and director of InfoMedia and a general partner of Applewood, Barry Fingerhut may be deemed to have shared power to vote and to dispose of 1,420,578 shares of Common Stock, representing approximately 13.1% of the outstanding Common Stock. Barry Fingerhut has sole power to vote and to dispose of 38,814 shares of Common Stock (which includes shares of Common Stock issuable upon the exercise of the Warrants). (c) Other than as set forth in Item 3, there were no transactions in the securities of the Issuer by the persons identified in Item 2 of the Schedule effected from June 16, 1996 to August 15, 1996, inclusive. - 15 of 17 - 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: March 12, 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/Harvey Sandler -------------------------------------- Name: Title: 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/Harvey Sandler -------------------------------------- Name: Title: 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/Harvey Sandler -------------------------------------- Name: Title: - 16 of 17 - /s/ Michael J. Marocco -------------------------------- Michael J. Marocco, Individually /s/ Barry Lewis -------------------------------- Barry Lewis, Individually /s/ John Kornreich -------------------------------- John Kornreich, Individually /s/ Harvey Sandler -------------------------------- Harvey Sandler, Individually /s/ Andrew Sandler -------------------------------- Andrew Sandler, Individually /s/ Barry Rubenstein -------------------------------- Barry Rubenstein, Individually /s/ Irwin Lieber -------------------------------- Irwin Lieber, Individually /s/ Barry Fingerhut -------------------------------- Barry Fingerhut, Individually ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). - 17 of 17 - -----END PRIVACY-ENHANCED MESSAGE-----