-----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, GOrj/cYnDmNIzbiUNLdvpAVRWhLBtVE+54Q3E1ZcnZIS9UM6SlSBJtmyDay17Wna xeC5B4zpKH51GdaN7K66pg== 0000950148-96-002097.txt : 19960925 0000950148-96-002097.hdr.sgml : 19960925 ACCESSION NUMBER: 0000950148-96-002097 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960909 ITEM INFORMATION: Other events FILED AS OF DATE: 19960924 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEFTEL BROADCASTING CORP CENTRAL INDEX KEY: 0000922503 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 990113417 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24516 FILM NUMBER: 96633883 BUSINESS ADDRESS: STREET 1: 6767 WEST TROPICANA AVE CITY: LAS VEGAS STATE: NV ZIP: 89603 BUSINESS PHONE: 7023673322 8-K 1 FORM 8-K 1 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 9, 1996 HEFTEL BROADCASTING CORPORATION (Exact name of registrant as specified in its charter) Delaware 0-24516 99-0113417 - ---------------------------- ------------------------ -------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 6767 West Tropicana Avenue, Suite 102 Las Vegas, Nevada 89103 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (702) 367-3322 2 ITEM 5. OTHER EVENTS a. Discontinuance of Network Operations On September 9, 1996, the Company's Board of Directors approved a plan to discontinue the operations of the radio network owned by the Company's wholly owned subsidiary Spanish Coast-to-Coast, Ltd, dba, Cadena Radio Centro (CRC) effective August 5, 1996. The estimated charge to operations during the quarter ended September 30, 1996 will be approximately $8.1 million, of which $6.5 million relates to non-cash charges resulting from the write-off of goodwill and certain equipment. No income tax expense or benefits will be recognized during fiscal year 1996 due to the Company's availability of net operating loss carryforwards. CRC intends to fulfill its contractual program obligations and is expected to cease operating by December 31, 1996. 3 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. Dated: September 23, 1996 HEFTEL BROADCASTING CORPORATION By: /s/ John T. Kendrick --------------------------- John T. Kendrick Senior Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----