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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 14 )*
----
Reading Entertainment, Inc. (successor to Reading Company)
-------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
---------------------------------------------------
(Title of Class of Securities)
755358108
-----------------------------------------
(CUSIP Number)
S. Craig Tompkins, President, Craig Corporation and Craig Management, Inc.
550 South Hope Street, Suite 1825, Los Angeles, California 90071 (213) 239-0555
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 4, 1997
--------------------------
(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 [_].
Check the following box if a fee is being paid with this statement [_]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 the
disclosures provided in a prior cover page.
The information required in 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).
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 755358108 PAGE 2 OF 6 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig Corporation
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURUSANT
TO ITEMS 2(d) or 2(E) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 3,252,536
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,912,980
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 3,252,536
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,912,980
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,165,516
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
69.34%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 755358108 PAGE 3 OF 6 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig Management, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURUSANT
TO ITEMS 2(d) or 2(E) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,912,980
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,912,980
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,912,980
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12 [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
25.68%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Page 4 of 6 Pages
This joint filing made by Craig Corporation, a Delaware corporation
("Craig") and Craig Management, Inc., a California corporation ("CMI" and
collectively with Craig, the "Filers"), relates to the Common Stock, $0.01 par
value of Reading Entertainment, Inc., a Delaware corporation ("Reading" or the
"Issuer").
With respect to Craig, this filing is Amendment No. 14, which amends and
supplements the Schedule 13D, dated June 4, 1992 and Amendments thereto
(collectively, the "Craig Schedule 13D") filed by Craig, relating to beneficial
holdings of shares of Common Stock of Reading. All capitalized terms used herein
and not otherwise defined shall have the respective meanings assigned to such
terms in the Craig Schedule 13D.
With respect to CMI, this is its second filing on Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of funds for Craig's purchase of 78,500 shares of Reading's
common stock is working capital. The total net consideration amounted to
approximately $819,151.
ITEM 4. PURPOSE OF TRANSACTION
Either Craig and/or CMI may, from time to time, determine to purchase
additional Reading securities or to sell their interests in some or all of such
securities depending upon a variety of factors, including, without limitation,
the price at which such securities are available, the other demands upon the
working capital of Craig
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Page 5 of 6 Pages
and/or CMI, and the business prospects and opportunities available for Craig,
CMI and/or Reading.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Craig's response to Items 7 and 8 of the Cover Page of this Amendment
No. 14 reflects (i) 3,252,536 shares of Reading Common Stock owned by Craig,
entitled to one vote per share and (ii) 1,912,980 shares of Reading Common Stock
owned by CMI, entitled to one vote per share. Craig has sole voting power with
respect to the securities described in subparagraphs (i) and (ii) above either
through its direct ownership or its control of CMI and shares voting power as
described in subparagraph (ii). In addition, Craig owns 125,098 shares of
Reading Series B Preferred Stock, entitled to 9.64 votes per share and CMI owns
424,902 shares of Reading Series B Preferred Stock, entitled to 9.64 votes per
shares. This voting power is not reflected in Items 7 and 8 because the Reading
Series B Preferred Stock is not convertible into Reading Common Stock until
April 15, 1998.
Craig's response to Items 9, 10, 11 and 13 of the Cover Page of this
Amendment No. 14 reflects (i) 3,252,536 shares of Reading Common Stock owned by
Craig and (ii) 1,912,980 shares of Reading Common Stock owned by CMI. The shares
of Reading Series B Preferred Stock owned by Craig are not convertible into
Reading Common Stock until April 15, 1998.
CMI's response to Items 7, 8, 9, 10, 11 and 13 of the Cover Page to its
Initial Filing, reflect its ownership of 1,912,980 shares of Reading Common
Stock, entitled to one vote per share. Not reflected are the 424,902 shares of
Reading Series B Preferred Stock owned by CMI, which are entitled to 9.64 votes
per share. The shares of Reading Series B Preferred Stock owned by CMI are not
convertible into Reading Common Stock until 18 months from October 15, 1996.
(b) See Items 7, 8, 9 and 10 of the Cover Pages and Item 5(a) above
concerning the calculation of the combined voting power represented by the
Common Stock of the Issuer beneficially owned by Craig and CMI.
Craig engaged in the following transaction in Common Stock of Reading in
the over-the-counter market:
<TABLE>
Date Shares Purchased Price per Share
---- ---------------- ---------------
<S> <C> <C>
2/4/97 78,500 $10.375
</TABLE>
<PAGE>
Page 6 of 6 Pages
SIGNATURES
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After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this Statement is true,
complete and correct.
CRAIG CORPORATION,
a Delaware corporation
Dated: February 6, 1997 By: /s/ Robin Skophammer
--------------------------
Robin Skophammer
Chief Financial Officer
CRAIG MANAGEMENT, INC.,
a California corporation
Dated: February 6, 1997 By: /s/ Robin Skophammer
--------------------------
Robin Skophammer
Chief Financial Officer
