<PAGE>
-------------------------------------
OMB APPROVAL
UNITED STATES -------------------------------------
SECURITIES AND EXCHANGE COMMISSION OMB Number: 3235-0145
Washington, D.C. 20549 Expires: October 31, 1997
Estimated average burden
hours per response..........14.90
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ____)
PEGASUS COMMUNICATIONS CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
705904 10 0
- --------------------------------------------------------------------------------
(CUSIP Number)
Michael B. Jordan
Drinker Biddle & Reath
Philadelphia National Bank Building
1345 Chestnut Street
Philadelphia, PA 19107
(215) 988-2700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 8, 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.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 2 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marshall W. Pagon
S.S. No.
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
4,581,900 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,581,900 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,581,900 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
50.6%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 3 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pegasus Communications Holdings, Inc.
IRS Identification No. 23-2778524
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
3,364,552 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,364,552 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,364,552 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.9%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 4 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pegasus Communications Limited Partnership
IRS Identification No. 06-1149248
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
3,364,552 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,364,552 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,364,552 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.9%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 5 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Northwest Management Associates, L.P.
IRS Identification No. 23-2654154
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
3,364,552 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,364,552 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,364,552 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.9%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 6 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pegasus Cable Associates, Ltd.
IRS Identification No. 23-2641841
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
3,364,552 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,364,552 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,364,552 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.9%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 7 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pegasus Capital, L.P.
IRS Identification No. 23-2661759
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
1,217,348 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,217,348 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,217,348 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.4%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
<TABLE>
<CAPTION>
- ---------------------------------------------- ----------------------------------------------
CUSIP No. 705904 10 0 Page 8 of 17 Pages
- ---------------------------------------------- ----------------------------------------------
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pegasus Capital, Ltd.
IRS Identification No. 23-2660588
- -----------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
- -----------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
- -----------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH -0-
REPORTING PERSON
WITH
------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
1,217,348 (rights to acquire; see item 5)
------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,217,348 (rights to acquire; see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,217,348 (see item 5)
- -----------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.4%
- -----------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Page 9 of 17 Pages
Item 1. Security and Issuer.
This statement relates to the Class A common stock, par value $.01 per
share (the "Class A Common Stock"), of Pegasus Communications Corporation (the
"Issuer"). The Issuer is a Delaware corporation and its principal executive
office is c/o Pegasus Communications Management Company, 5 Radnor Corporate
Center, Suite 454, 100 Matsonford Road, Radnor, Pennsylvania 19087 (the "Radnor
Office").
Item 2. Identity and Background.
This statement is being filed by the following (hereinafter referred to
collectively as the "Reporting Persons"):
(i) Marshall W. Pagon, a citizen of the United States
of America
(ii) Pegasus Communications Holdings, Inc., a Delaware
corporation ("PCH")
(iii) Pegasus Communications Limited Partnership, a
Connecticut limited partnership ("PCLP")
(iv) Northwest Management Associates, L.P., a
Pennsylvania limited partnership ("Northwest
Management")
(v) Pegasus Cable Associates, Ltd., a Pennsylvania
corporation ("Pegasus Cable")
(vi) Pegasus Capital, L.P., a Pennsylvania limited
partnership
(vii) Pegasus Capital, Ltd., a Pennsylvania corporation
Mr. Pagon has been authorized, pursuant to an agreement among the
Reporting Persons identified in (ii) through (vii) above (which agreement is
filed as Exhibit 1 to this Schedule 13D), to file this joint statement on
behalf of each of them, as permitted by Rule 13d-1(f) under the Securities
Exchange Act of 1934.
Shares of the Issuer's Class B Common Stock, par value $.01 per share
(the "Class B Common Stock") are convertible into shares of Class A Common Stock
on a one-for-one basis at any time at the option of the holder. In addition,
shares of Class B Common Stock are automatically converted into Class A Common
Stock upon transfers to persons who are not Permitted Transferees (as this term
is defined in the Issuer's Amended and Restated
<PAGE>
Page 10 of 17 Pages
Certificate of Incorporation). Holders of Class A Common Stock are entitled to
one vote per share, and holders of Class B Common Stock are entitled to ten
votes per share.
Pegasus Capital, L.P. and PCH hold 1,217,348 and 3,364,552 shares,
respectively, of the Issuer's Class B Common Stock. Mr. Pagon and Pegasus
Capital, Ltd. are deemed to be the beneficial owners of the 1,217,348 shares by
virtue of the fact that Mr. Pagon owns 100% of the stock of Pegasus Capital,
Ltd. which, in turn, is the sole general partner in Pegasus Capital, L.P. The
Issuer is a direct subsidiary of PCH. Mr. Pagon, PCLP, Northwest Management and
Pegasus Cable are deemed to be the beneficial owners of the 3,364,552 shares
held by PCH by virtue of the fact that Mr. Pagon owns 100% of the stock of
Pegasus Cable, which is the sole general partner in Northwest Management, and by
virtue of the fact that Northwest Management is the sole general partner in
PCLP, which owns all of the outstanding stock of PCH. As a consequence, each of
the Reporting Persons may be deemed to be the beneficial owner of more than 5%
of the Issuer's Class A Common Stock.
Each of the Reporting Persons is engaged, through the Issuer and its
subsidiaries, in the media and communications business. The business address for
each of the Reporting Persons is the Radnor Office. None of the Reporting
Persons has, during the last five years, been convicted of a criminal proceeding
(excluding traffic violations or similar misdemeanors) (a "Criminal Conviction")
or been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction resulting in a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, Federal
or state securities laws or finding any violation with respect to such laws (a
"Civil Violation"). Marshall W. Pagon's principal employment is as President,
Chief Executive Officer, Chairman of the Board of Directors, and Treasurer of
the Issuer. Mr. Pagon also serves as Chief Executive Officer and Director of
each of the Issuer's subsidiaries and as President, Chief Executive Officer,
Treasurer and Sole Director of each of PCH, Pegasus Cable and Pegasus Capital,
Ltd. (the "Corporate Reporting Persons"). In addition to Mr. Pagon, Robert N.
Verdecchio (the Issuer's Senior Vice President, Chief Financial Officer and
Assistant Secretary), Ted S. Lodge (the Issuer's Senior Vice President, General
Counsel, Chief Administrative Officer and Assistant Secretary), Howard E. Verlin
(the Issuer's Vice President and Secretary) and Guyon W. Turner (the Issuer's
Vice President) serve as executive officers of each of the Corporate Reporting
Persons. Messrs. Verdecchio, Lodge, Verlin and Turner are collectively referred
to herein as "Executive Officers." The principal business address for each of
the Executive Officers is
<PAGE>
Page 11 of 17
the Radnor Office and each of the Executive Officers is a citizen of the United
States. None of the Executive Officers has been subject to a Criminal Conviction
or Civil Violation.
Item 3. Source and Amount of Funds or Other Consideration.
Each of the Reporting Persons acquired beneficial ownership of
shares of Class A Common Stock in the following transactions, which occurred
concurrently with an initial public offering by the Issuer, completed October 8,
1996 (the "Public Offering"), of 3,000,000 shares of its Class A Common Stock:
(a) The Issuer issued 1,400,000 shares of Class B Common Stock
to Pegasus Capital, L.P., in exchange for all the stock of a corporation that
holds a management agreement with the Issuer's principal subsidiary.
Concurrently, Pegasus Capital, L.P. converted 182,652 of those shares into an
equal number of shares of Class A Common Stock and transferred them to members
of the Issuer's management.
(b) The Issuer issued 3,380,435 shares of Class B Common Stock
to PCH in exchange for the contribution by PCH to the Issuer of all the
outstanding Class A common stock of Pegasus Media & Communications, Inc. (the
"PM&C Class A Shares"), formerly the direct subsidiary of Pegasus Communications
Holdings, Inc., and currently a direct subsidiary of the Issuer. Concurrently,
PCH converted 87,312 of those shares into an equal number of shares of Class A
Common Stock and transferred them to members of the Issuer's management.
(c) The Issuer issued 71,429 shares of Class B Common Stock to
PCH in exchange for the contribution by PCH to the Issuer of all the stock of
corporations that hold the FCC licenses and Fox Network affiliation agreement
for the Issuer's television station in Portland, Maine.
Item 4. Purpose of Transaction.
Prior to the Public Offering, the Issuer was a newly created
entity without any material assets. In connection with the Public Offering, a
number of transactions occurred resulting in the capitalization and
reorganization of the Issuer, including these transactions resulting in the
Reporting Persons and the Executive Officers beneficially acquiring shares of
the Issuer's capital stock.
<PAGE>
Page 12 of 17
Neither the Reporting Persons nor the Executive Officers have
any present plans, or contemplate any present proposals, that relate to or would
result in any of the transactions described in subparagraphs (a) through (j) of
Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) As of the date hereof, the Reporting Persons and the Executive Officers
may be deemed the beneficial owners in the aggregate of the number and
percentage of the Issuer's Class A Common Stock set forth below, based
on a total number of shares of common stock of 9,053,337(1):
Name Shares of Class A
- ---- Common Stock %(2)
------------ ----
Reporting Persons
- -----------------
Marshall W. Pagon 4,581,900 50.6%
PCH 3,364,552 42.9%
PCLP 3,364,552 42.9%
Northwest Management 3,364,552 42.9%
Pegasus Cable 3,364,552 42.9%
Pegasus Capital, L.P. 1,217,348 21.4%
Pegasus Capital, Ltd. 1,217,348 21.4%
Executive Officers
- ------------------
Robert N. Verdecchio 170,903 3.8%
Howard E. Verlin 39,321 0.9%
Guyon W. Turner 157,143 3.5%
Ted S. Lodge 1,500(3) .03%
- --------
1 Consisting of 4,471,437 shares of Class A Common Stock and 4,581,900 shares of
Class B Common Stock.
2 The percentage for each Reporting Person is calculated on the assumption that
all shares of Class B Common Stock held directly or indirectly by the particular
Reporting Person, and only those shares, are converted into Class A Common
Stock.
3 Mr. Lodge disclaims beneficial ownership of these shares, which are held by
his spouse.
<PAGE>
Page 13 of 17
(b) Beneficial ownership of shares of Class A Common Stock is based on
rights to acquire such shares upon conversion of an equal number of
shares of Class B Common Stock. Because Mr. Pagon controls each of the
other Reporting Persons, he and the other Reporting Persons share the
power to direct the vote and to dispose of the shares of Class A Common
Stock beneficially owned by the Reporting Persons.
Each of the Executive Officers has sole power to vote and
dispose of his shares.
(c) The Reporting Persons effected in the last 60 days the transactions
described in Item 3. In addition, PCH transferred 82,145 shares of
Class A Common Stock to the sellers of the Issuer's Portland, Maine
television station and local marketing agreement in exchange for the
cancellation of certain series of PCH's preferred stock held by the
sellers.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer
Pegasus Capital, L.P. has undertaken certain contractual obligations to
Enniskillen Corporation and has agreed, if those obligations are not satisfied
by a date certain, to pledge its 1,217,348 shares of Class B Common Stock as
security for their later performance.
Item 7. Material to be Filed as Exhibits.
1. Agreement Among Joint Filers dated as of October 11, 1996.
<PAGE>
Page 14 of 17 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: October 18, 1996
PEGASUS COMMUNICATIONS HOLDINGS, INC.
By:Marshall W. Pagon
--------------------------------
Marshall W. Pagon
President
PEGASUS COMMUNICATIONS LIMITED PARTNERSHIP
By: NORTHWEST MANAGEMENT ASSOCIATES, L.P.
General Partner
By: PEGASUS CABLE ASSOCIATES, LTD.
General Partner
By:Marshall W. Pagon
--------------------------------
Marshall W. Pagon
President
NORTHWEST MANAGEMENT ASSOCIATES, L.P.
By: PEGASUS CABLE ASSOCIATES, LTD.
General Partner
By:Marshall W. Pagon
--------------------------------
Marshall W. Pagon
President
PEGASUS CABLE ASSOCIATES, LTD.
By:Marshall W. Pagon
--------------------------------
Marshall W. Pagon
President
<PAGE>
Page 15 of 17 Pages
PEGASUS CAPITAL, L.P.
By: PEGASUS CAPITAL, LTD.
General Partner
By:Marshall W. Pagon
--------------------------------
Marshall W. Pagon
President
PEGASUS CAPITAL, LTD.
By:Marshall W. Pagon
--------------------------------
Marshall W. Pagon
President
Marshall W. Pagon
- -----------------------------------
Marshall W. Pagon
<PAGE>
Page 16 of 17 Pages
Exhibit 1
Agreement Among Joint Filers
The undersigned do hereby agree that Marshall W. Pagon has
the authority to file a report of beneficial ownership of 5% or more of the
common stock of Pegasus Communications Corporation, as required by the
Securities Exchange Act of 1934, as amended, on Schedule 13D, on behalf of each
of the undersigned.
PEGASUS COMMUNICATIONS HOLDINGS, INC.
By: /s/ Marshall W. Pagon 10/11/96
---------------------- ----------
Marshall W. Pagon Date
President
PEGASUS COMMUNICATIONS LIMITED PARTNERSHIP
By: NORTHWEST MANAGEMENT ASSOCIATES, L.P.
General Partner
By: PEGASUS CABLE ASSOCIATES, LTD.
General Partner
By: /s/ Marshall W. Pagon 10/11/96
---------------------- ----------
Marshall W. Pagon Date
President
NORTHWEST MANAGEMENT ASSOCIATES, L.P.
By: PEGASUS CABLE ASSOCIATES, LTD.
General Partner
By: /s/ Marshall W. Pagon 10/11/96
---------------------- ----------
Marshall W. Pagon Date
President
<PAGE>
Page 17 of 17 Pages
PEGASUS CABLE ASSOCIATES, LTD.
By: /s/ Marshall W. Pagon 10/11/96
---------------------- ----------
Marshall W. Pagon Date
President
PEGASUS CAPITAL, L.P.
By: PEGASUS CAPITAL, LTD.
General Partner
By: /s/ Marshall W. Pagon 10/11/96
---------------------- ----------
Marshall W. Pagon Date
President
PEGASUS CAPITAL, LTD.
By: /s/ Marshall W. Pagon 10/11/96
---------------------- ----------
Marshall W. Pagon Date
President
