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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
under the Securities Exchange Act of 1934
UNITED MAGAZINE COMPANY
(Name of Issuer)
Common Stock, no par value
(Title and Class of Securities)
91-0810209
(Cusip Number)
Ruth Hunter Smith, Esq.
5131 Post Road
Dublin, Ohio 43017
(614) 792-0777
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
With copies to:
Robert K. Rupp, Esq.
Baker & Hostetler
65 East State Street, Suite 2100
Columbus, Ohio 43215
(614) 228-1541
September 17, 1998
(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 Schedule: [ ]
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<TABLE>
<CAPTION>
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CUSIP NO. 91-0810209 13D PAGE 2 OF 5 PAGES
- --------------------------------------------- --------------------------------------------
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<S> <C> <C>
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Ronald E. Scherer
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00 (other)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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7 SOLE VOTING POWER
499,051
NUMBER OF -------------------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 1,245,450
EACH -------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
499,051
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,744,501
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.6%
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14 TYPE OF REPORTING PERSON*
IN
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 91-0810209
Page 2 of 5 pages
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Item 1. Security and Issuer.
--------------------
The class of equity securities to which this statement relates is the
common shares, without par value, of United Magazine Company, an Ohio
corporation (the "Company"). The principal executive offices of the Company are
located at 5131 Post Road, Dublin, Ohio 43017.
Item 2. Identity and Background.
------------------------
(a) Ronald E. Scherer ("Scherer")
(b) 5131 Post Road
Dublin, Ohio 43017
(c) Chairman
United Magazine Company
wholesale periodical distributor
5131 Post Road
Dublin, Ohio 43017
(d) During the last five years, Mr. Scherer has not been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, Mr. Scherer has not been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which proceeding Mr. Scherer was or is
subject to 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.
(f) U.S. citizen.
- --------------------------------------------------------------------------------
Item 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------
Mr. Scherer received a promissory note in the principal amount of
$700,000.00 in consideration of the 70,000 shares.
Item 4. Purpose of Transaction.
-----------------------
Mr. Scherer has transferred 70,000 common shares to George F. Valassis
in exchange for a promissory note in the principal amount of $700,000.00,
payable on September 2000, delivered to Mr. Scherer by Beannie's Auto & Truck
Sales, Inc., as Maker, in connection with the lease of personal property by Mr.
Scherer.
Page 3 of 5 pages
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Item 5. Interest in Securities of Issuer.
---------------------------------
(a)
Common Shares Percent of
Name Beneficially Owned Class
---- ------------------ -----
Ronald E. Scherer(1) 1,744,501 23.6%
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Except as otherwise indicated below, the nature of the
beneficial ownership for all shares listed above is sole
voting and investment power.
(1) The shares owned by Northern News Company,
Wholesalers Leasing Corp. and the two Scherer Trusts
are also deemed to be beneficially owned by Ronald E.
Scherer and Linda Hayner Talbott, because they share
voting power over these shares.
Item 6. Contracts, Arrangements, Understanding or Relationships with Respect to
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Securities of the Issuer.
-------------------------
None.
Page 4 of 5 pages
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Signatures
After reasonable inquiry and to the best of his knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: September 28, 1998
/s/ Ronald E. Scherer
------------------------------------
RONALD E. SCHERER
Page 5 of 5 pages
