:----------: :---------------------------:
: FORM 4 : : OMB APPROVAL :
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:OMB NUMBER 3235-0287:
:EXPIRES: SEPTEMBER 30, 1998:
:ESTIMATED AVERAGE BURDEN :
:HOURS PER RESPONSE..... 0.5:
:---------------------------:
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[X] CHECK THIS BOX IF NO LONGER SUBJECT TO SECTION 16. FORM 4
OR FORM 5 OBLIGATIONS MAY CONTINUE. SEE INSTRUCTION 1(b).
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1. Name and Address of Reporting Person*
Cablevision Systems Corporation ("Cablevision")
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(Last) (First) (Middle)
One Media Crossways
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(Street)
Woodbury, New York 11797
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Clearview Cinema Group, Inc. ("Clearview") - CLV
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer (Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (Specify below)
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7. Individual or Joint/Group Filing (check Applicable Line)
__X__ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
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<PAGE>
TABLE I-NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
<TABLE>
<CAPTION>
1.Title of Security 2.Trans- 3.Trans- 4.Securities Acquired (A) 5.Amount of 6.Ownership 7.Nature of
(Instr. 3) action action or Disposed of (D) Securities Bene- Form: Direct Indirect
Date Code (Instr. 3, 4 and 5) ficially Owned (D) or Beneficial
(Month/ (Instr. 8) ------------------------ at End of Indirect (I) Ownership
Day/ ------------ Amount (A) or Price Month (Instr. (Instr. 4) (Instr. 4)
Year) Code V (D) 3 and 4)
- ------------------- --------- ------------ ------------------------ ------------------ -------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common stock, par 12/2/98 J(1) V 2,304,802(1) A (1) -0-(1) (1) N/A
value $.01 per
share
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<FN>
* If the form is filed by more than one Reporting Person, see Instruction 4(b)(v). (Over)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
(Print or Type Response)
</FN>
</TABLE>
<PAGE>
FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security (Instr. 3)
N/A
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2. Conversion or Exercise Price of Derivative Security
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3. Transaction Date (Month/Day/Year)
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4. Transaction Code (Instr. 8)
Code V
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
(A) (D)
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6. Date Exercisable and Expiration Date (Month/Day/Year)
Date Exercisable Expiration Date
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7. Title and Amount of Underlying Securities (Instr. 3 and 4)
Title Amount or Number of Shares
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8. Price of Derivative Security (Instr. 5)
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9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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<PAGE>
Explanation of Responses:
(1) At a special meeting of Clearview held on December 1, 1998, stockholders
approved the merger ("Merger") of Clearview with CCG Holdings, Inc. ("Merger
Sub"), a wholly-owned subsidiary of Cablevision, pursuant to the merger
agreement between Cablevision, Clearview and Merger Sub dated as of August 12,
1998 ("Merger Agreement"). Upon the filing of the Certificate of Merger with the
Secretary of State of Delaware on December 2, 1998, Clearview merged with and
into Merger Sub and all the outstanding shares of Clearview were cancelled.
Pursuant to the Merger, Merger Sub was the surviving corporation (the "Surviving
Corporation") and the separate corporate existence of Clearview ceased. All of
the outstanding capital stock of the Surviving Corporation is beneficially owned
by Cablevision.
Subject to the allocations limitations and proration procedures under the Merger
Agreement, each share of Common Stock, par value $.01 per share, of Clearview
("Clearview Common Stock") was converted into, and become exchangeable for, at
the option of the holder thereof, (A) $24.25 in cash or (B) 0.5209 shares of
Class A Common Stock, par value of $.01 per share, of Cablevision ("Cablevision
Common Stock"), being that number of Cablevision Common Stock equal to the
amount (rounded to four decimal places) derived by dividing $24.25 by $46.5531,
being the average daily per share high and low sales prices, regular way of
Cablevision Common Stock as reported on the American Stock Exchange composite
transactions reporting system on each of the ten trading days ending on and
including the third trading day prior to the closing of the Merger. No
fractional shares of Cablevision Common Stock are issuable.
CABLEVISION SYSTEMS CORPORATION
/s/ Robert S. Lemle December 17, 1998
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**Signature of Reporting Person Date
Robert S. Lemle
Executive Vice President,
General Counsel and Secretary
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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