<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 and 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Big Flower Holdings, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
089159 10 7
- --------------------------------------------------------------------------------
(CUSIP Number)
July 23, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 2 of 9 Pages
- -------------------------- ------------------------
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Highfields Capital Management LP
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 1,338,100
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 1,338,100
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 1,338,100
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 6.8%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
- ------------------------------------------------------------------------------
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 3 of 9 Pages
- -------------------------- ------------------------
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Highfields GP LLC
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 1,338,100
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 1,338,100
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 1,338,100
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 6.8%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
00
- ------------------------------------------------------------------------------
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 4 of 9 Pages
- -------------------------- ------------------------
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Jonathon S. Jacobson
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 1,338,100
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 1,338,100
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 1,338,100
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 6.8%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
IN
- ------------------------------------------------------------------------------
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 5 of 9 Pages
- -------------------------- ------------------------
- ------------------------------------------------------------------------------
NAMES OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Richard L. Grubman
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5 1,338,100
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6 0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7 1,338,100
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8 0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 1,338,100
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 6.8%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
IN
- ------------------------------------------------------------------------------
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 6 of 9 Pages
- -------------------------- ------------------------
ITEM 1(A). NAME OF ISSUER:
Big Flower Holdings, Inc.
------------------------------------------------
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
3 East 54th Street, New York, NY 10022
------------------------------------------------
ITEM 2(A). NAME OF PERSON FILING:
This statement is being filed by the following persons with respect to
the shares of common stock, par value $.01 per share ("Common Stock"), of
the Issuer directly owned by Highfields Capital I LP, Highfields Capital
II LP and Highfields Capital Ltd. (collectively, the "Funds"):
(i) Highfields Capital Management LP, a Delaware limited partnership
("Highfields Capital Management") and Investment Manager to each of the
Funds,
(ii) Highfields GP LLC, a Delaware limited liability company ("Highfields
GP") and the General Partner of Highfields Capital Management,
(iii) Jonathon S. Jacobson, a Managing Member of Highfields GP, and
(iv) Richard L. Grubman, a Managing Member of Highfields GP.
Highfields Capital Management, Highfields GP, Mr. Jacobson and Mr.
Grubman are sometimes individually referred to herein as a "Reporting
Person" and collectively as the "Reporting Persons."
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
c/o Highfields Capital Management
200 Clarendon Street,
Boston, Massachusetts 02117
---------------------------
ITEM 2(C). CITIZENSHIP:
Highfields Capital Management - Delaware
Highfields GP - Delaware
Richard L. Grubman - United States
Jonathon S. Jacobson - United States
------------------------------------
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.01 per share
--------------------------------------
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 7 of 9 Pages
- -------------------------- ------------------------
ITEM 2(E). CUSIP NUMBER:
089159 10 7
------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A:
(a) [_] Broker or dealer registered under Section 15 of the Exchange
Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [x]
ITEM 4. OWNERSHIP.
If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of any month described in Rule 13d-1
(b)(2), if applicable, exceeds five percent, provide the following information
as of that date and identify those shares which there is a right to acquire.
(a) Amount beneficially owned:
1,338,100 shares of Common Stock
--------------------------------
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 8 of 9 Pages
- -------------------------- ------------------------
(b) Percent of class:
6.8%
--------------------------------------------------------------------------
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 1,338,100
---------------
(ii) Shared power to vote or to direct the vote --0--
--------------
(iii) Sole power to dispose or to direct the disposition of 1,338,100
---------------
(iv) Shared power to dispose or to direct the disposition of --0--
---------------
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
The shares to which this filing relates are beneficially owned by the
Funds, each of which has the power to direct the dividends from or the
proceeds of the sale of the shares owned by such Fund and none of which
owns 5% or more of the securities to which this filing pertains.
Highfields Capital Management serves as the Investment Manager to each
of the Funds.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issue of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
<PAGE>
- -------------------------- ------------------------
CUSIP NO. 089159 10 7 13G Page 9 of 9 Pages
- -------------------------- ------------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
July 30, 1999
----------------------------------
Date
HIGHFIELDS CAPITAL MANAGEMENT LP
By: Highfields GP LLC, its General Partner
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn,
Chief Operating Officer
Highfields Capital Management, Authorized Signatory
---------------------------------------------------
Name/Title
HIGHFIELDS GP LLC
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
----------------------------------------
Name/Title
JONATHON S. JACOBSON
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
------------------------------------
Name/Title
RICHARD L. GRUBMAN
/s/ KENNETH H. COLBURN
----------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
--------------------------------------------
Name/Title
