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==============================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 21)
MERCOM, INC.
(Name of Issuer)
COMMON STOCK
$1.00 PAR VALUE
(Title of Class of Securities)
------------
58935D109
(CUSIP Number)
C-TEC CORPORATION
(Names of Persons Filing Statement)
Raymond B. Ostroski
Executive Vice President and General Counsel
C-TEC Corporation
105 Carnegie Center
Princeton, New Jersey 08540
Tel. No.: (609) 734-3700
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
May 12, 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 statement because of Rule 13d-1(b)(3) or (4), check
the following: [ ]
Note: This document is being electronically filed with the
Commission, using the EDGAR system. See Rule 13d-1(a) for other parties to
whom copies are to be sent.
==============================================================================
<TABLE>
<S> <C> <C> <C> <C>
SCHEDULE 13D
CUSIP No. 58935D109 Page 2 of Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
C-TEC Corporation 23-2093008
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
or 2(e) [ ]
N/A
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
7 SOLE VOTING POWER
2,964,250
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH -0-
REPORTING PERSON WITH
9 SOLE DISPOSITIVE POWER
2,964,250
10 SHARED DISPOSITIVE POWER
-0-
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,964,250
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.92%
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
The following information amends the Schedule 13D dated March
14, 1990, as previously amended (as so amended, the "Schedule 13D").
Unless otherwise indicated, each capitalized term used but not
defined herein shall have the meaning assigned to such term in the Schedule
13D.
Item 2. Indentity and Background.
Schedules A through D are hereby amended as attached hereto.
Item 4. Purpose of Transaction.
The response set forth in Item 4 of the Schedule 13D is hereby
amended and supplemented as follows:
"On May 12, C-TEC announced that it had proposed to acquire the
38.08% of the Common Stock not currently owned by it, in exchange for 8.75% of
the common stock of C-TEC's subsidiary C-TEC Michigan. In the proposed
transaction, Mercom would become a wholly owned subsidiary of C-TEC Michigan.
The proposed exchange ratio is based on the assumption that C-TEC Michigan
will have $125 million of net debt outstanding at the time of the transaction.
The combined operations will serve approximately 200,000 cable subscribers,
approximately 40,000 of which are currently served by Mercom.
C-TEC recently announced a restructuring plan to separate its
operations into three publicly held companies. Under the plan, one of those
companies will be C-TEC Michigan, which will own all of C-TEC's Michigan cable
television operations, including its interest in the Company. The
restructuring is subject to certain conditions and there can be no assurance
that any restructuring will take place.
C-TEC's proposal to acquire all of the outstanding Common Stock
not currently owned by it has been conveyed to the Board of Directors of the
Company. C-TEC anticipates that the Company's Board of Directors will form a
special committee composed of directors unaffiliated with C-TEC to review and
evaluate the proposal. The proposal is subject to certain conditions,
including the execution and delivery of mutually satisfactory definitive
documentation, the consummation of C-TEC's restructuring and the receipt of
all required regulatory approvals. C-TEC reserves the right to withdraw its
proposal at any time prior to the execution of a definitive agreement. There
can be no assurance as to the terms of any transaction or that any transaction
will take place."
SIGNATURES
After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Date: May 12, 1997
C-TEC CORPORATION
By: /s/ David C. McCourt
-----------------------------
Name: David C. McCourt
Title: Chairman and Chief
Executive Officer
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF C-TEC CORPORATION
The name, business address, citizenship, title and present
principal occupation or employment of each of the directors and executive
officers of C-TEC Corporation are set forth below.
<TABLE>
<CAPTION>
Principal
Name and Occupation
Office Held Business Address Citizenship or Employment
- ----------------------------------------------- ------------------------- ------------- --------------------
<S> <C> <C> <C>
David C. McCourt 105 Carnegie Center, USA Chairman,
Chairman, Chief Executive Officer, Princeton, NJ 08540 Chief Executive
Director Officer, C-TEC
Michael J. Mahoney 105 Carnegie Center, USA President, Chief
President, Chief Princeton, NJ 08540 Operating
Operating Officer, Officer, C-TEC
Director
Bruce C. Godfrey 105 Carnegie Center, USA Executive Vice
Executive Vice President, Chief Financial Princeton, NJ 08540 President, Chief
Officer, Financial
Director Officer, C-TEC
Raymond B. Ostroski 105 Carnegie Center, USA Executive Vice
Executive Vice President, General Princeton, NJ 08540 President,
Counsel General
Counsel, C-TEC
Michael A. Adams 105 Carnegie Center, USA President,
President, Technology & Strategic Princeton, NJ 08540 Technology &
Development Strategic
Development,
C-TEC
Malcolm M. Burnside 105 Carnegie Center, USA Vice President,
Vice President, Regulatory and Public Princeton, NJ 08540 Regulatory and
Affairs Public Affairs,
C-TEC
John D. Filipowicz 105 Carnegie Center, USA Vice President,
Vice President, Assistant General Princeton, NJ 08540 Assistant
Counsel, Assistant Corporate Secretary General
Counsel,
Assistant
Corporate
Secretary, C-
TEC
Ralph S. Hromisin 105 Carnegie Center, USA Vice President,
Vice President, Corporate Controller Princeton, NJ 08540 Corporate
Controller, C-
TEC
Timothy J. Stoklosa 105 Carnegie Center, USA Senior Vice
Senior Vice President Finance & Princeton, NJ 08540 President
Treasurer Finance &
Treasurer, C-
TEC
James J. Saile 105 Carnegie Center, USA Vice President
Vice President Princeton, NJ 08540 Taxation, C-
Taxation TEC
Gary D. Isaacs 105 Carnegie Center, USA Vice President
Vice President Princeton, NJ 08540 Human
Human Resources Resources,
C-TEC
James Q. Crowe 3555 Farnam St. USA Chairman of the
Director Omaha, NE 68131 Board, Director,
WorldCom, Inc.
Stuart E. Graham 1616 Whitestone Expy. USA Chairman,
Director Whitestone, NY 11357 President, Chief
Executive
Officer, SKANSKA
Engineering and
Construction,
Inc.
Frank M. Henry Martz Towers USA President, Chief
Director 46 Public Square Executive Officer,
Box 1007 Frank Martz
Wilkes-Barre, PA 18703 Coach Company
Richard R. Jaros 1000 Kiewit Plaza USA Executive Vice President,
Director Omaha, NE 68131 Chief Financial Officer,
Director, PKS
Robert E. Julian 1000 Kiewit Plaza USA Retired
Director Omaha, NE 68131 Executive Vice
President, Chief
Financial
Officer,
Director, PKS
Daniel E. Knowles 1 F Place USA Personnel
Director Gouldsboro, PA 18424 Consultant
C-TEC
David C. Mitchell 267 E. Lake Road USA Retired
Director P.O. Box 819 Corporate
Honeoye, NY Executive Vice
14471-0819 President,
President of the
Telephone
Group and
Director,
Rochester
Telephone
Corporation
Eugene Roth 15 S. Franklin Street USA Partner,
Director Wilkes-Barre, PA 18711 Rosenn, Jenkins
and Greenwald
(Attorneys)
Walter Scott, Jr. 1000 Kiewit Plaza USA Chairman,
Director Omaha, NE 68131 President,
Director, PKS
Michael B. Yanney 1004 Farnam Street USA Chairman &
Director Omaha, NE 68102 Chief Executive
Officer, America
First Companies
</TABLE>
Schedule B
DIRECTORS AND EXECUTIVE OFFICERS OF KIEWIT TELECOM HOLDINGS INC.
The name, business address, citizenship, title and present principal
occupation or employment of each of the directors and executive officers of
Kiewit Telecom Holdings, Inc. are set forth below.
<TABLE>
<CAPTION>
Name and Principal Occupation or
Office Held Business Address Citizenship Employment
- ------------------------------ ------------------------- ------------- --------------------------
<S> <C> <C> <C>
David C. McCourt 105 Carnegie Center USA Chairman,
President, Princeton, NJ 08540 Chief Executive Officer,
Director C-TEC Corporation
Ann C. McCulloch 1000 Kiewit Plaza USA Vice President,
Vice President, Omaha, NE 68131 Treasurer, PKS
Treasurer
Steven L. George 1000 Kiewit Plaza USA Vice President, Kiewit
Vice President Omaha, NE 68131 Diversified Group Inc.
Matthew J. Johnson, 1000 Kiewit Plaza USA Vice President-Legal,
Vice President and Omaha, NE 68131 PKS
Secretary
Richard R. Jaros 1000 Kiewit Plaza USA Executive Vice
Director Omaha, NE 68131 President, Chief
Financial Officer,
PKS
James Q. Crowe 3555 Farnam Street USA Chairman, WorldCom, Inc.
Director Omaha, NE 68131
Walter Scott, Jr. 1000 Kiewit Plaza USA Chairman, President,
Director Omaha, NE 68131 PKS
</TABLE>
Schedule C
DIRECTORS AND EXECUTIVE OFFICERS OF KIEWIT
DIVERSIFIED GROUP INC.
The name, business address, citizenship, title and present principal
occupation or employment of each of the directors and executive officers of
Kiewit Diversified Group Inc. are set forth below.
<TABLE>
<CAPTION>
Principal
Name and Business Occupation
Office Held Address Citizenship or Employment
- ---------------------------------- ------------------------- ------------- ------------------------
<S> <C> <C> <C>
Walter Scott, Jr. 1000 Kiewit Plaza USA Chairman, President,
Chairman, Director Omaha, NE 68131 PKS
Robert E. Julian 11707 Miracle Hills Dr. USA Chairman, PKS
Director Omaha, NE 68154 Information Services,
Inc.; Former Executive
Vice President,
Chief Financial
Officer, PKS
Richard R. Jaros 1000 Kiewit Plaza USA Executive Vice
President, Director Omaha, NE 68131 President, Chief
Financial Officer,
PKS
George Lee Butler 1000 Kiewit Plaza USA Vice President, Kiewit
Vice President Omaha, NE 68131 Energy Group Inc.
Steven L. George 1000 Kiewit Plaza USA Vice President, Kiewit
Vice President Omaha, NE 68131 Diversified Group
Inc.
Ann C. McCulloch 1000 Kiewit Plaza USA Vice President,
Vice President, Treasurer Omaha, NE 68131 Treasurer, PKS
Matthew J. Johnson 1000 Kiewit Plaza USA Vice President-
Vice President, General Omaha, NE 68131 Legal, PKS
Counsel, Secretary
Eric J. Mortensen 1000 Kiewit Plaza USA Controller, PKS
Controller Omaha, NE 68131
Lee E. Ellingson 1000 Kiewit Plaza USA KDG Tax
Assistant Secretary Omaha, NE 68131 Department
William L. Grewcock 1000 Kiewit Plaza USA Vice Chairman,
Director Omaha, NE 68131 Director, PKS
Richard Geary 215 V Street USA Executive Vice
Director Vancouver, WA 98661 President, Kiewit
Construction Group
Inc.; President, Kiewit
Pacific Co.
Royce J. Holland 15190 Prestonwood Boulevard USA Former President, Chief Operating Officer,
Director Apt. 421 MFS Communications Company, Inc.
Dallas, Texas 75248
Kenneth E. Stinson 1000 Kiewit Plaza USA Executive Vice
Director Omaha, NE 68131 President, Director,
PKS
</TABLE>
Schedule D
DIRECTORS AND EXECUTIVE OFFICERS OF PETER KIEWIT SONS', INC.
The name, business address, citizenship, title and present principal
occupation or employment of each of the directors and executive officers of
Peter Kiewit Sons', Inc. ("PKS") are set forth below.
<TABLE>
<CAPTION>
Principal
Name and Business Occupation
Office Held Address Citizenship or Employment
- ---------------------------------- --------------------------- ------------- --------------------
<S> <C> <C> <C>
Walter Scott, Jr. 1000 Kiewit Plaza USA President,
President, Chairman, Omaha, NE 68131 Chairman, PKS
Director
William L. Grewcock 1000 Kiewit Plaza USA Vice Chairman,
Vice Chairman, Omaha, NE 68131 PKS
Director
Robert E. Julian 11707 Miracle Hills Dr. USA Chairman, PKS
Director Omaha, NE 68154 Information Services,
Inc.; Former Executive
Vice President,
Former Chief
Financial
Officer, PKS
Kenneth E. Stinson 1000 Kiewit Plaza USA Chairman, Chief
Executive Vice President, Omaha, NE 68131 Executive
Director Officer, Kiewit
Construction
Group Inc.
Richard R. Jaros 1000 Kiewit Plaza USA Executive Vice
Executive Vice President, Omaha, NE 68131 President, Chief
Director Financial Officer,
PKS; President,
KDG
Richard Geary 215 V Street USA President, Kiewit
Director Vancouver, WA 98661 Pacific Co.
Leonard W. Kearney 1000 Kiewit Plaza USA Senior Vice
Director Omaha, NE 68131 President, Kiewit
Construction
Company
James Q. Crowe 3555 Farnam Street USA Chairman, WorldCom, Inc.
Director Omaha, NE 68131
George B. Toll, Jr. 1000 Kiewit Plaza USA Executive Vice
Director Omaha, NE 68131 President, Kiewit
Construction
Group Inc.
Peter Kiewit, Jr. 2600 N. Central Ave. USA Attorney
Director Phoenix, AZ 85004
Robert B. Daugherty Guarantee Centre USA Chairman,
Director Suite 225 Valmont
Omaha, NE 68114 Industries Inc.
Charles M. Harper One Central Park Plaza USA Former
Director Suite 1500 Chairman, RJR
Omaha, NE 68102 Nabisco
Holdings Corp.
Richard W. Colf 215 V Street USA Senior Vice
Director Vancouver, WA 98661 President,
Kiewit Pacific
Co.
Bruce E. Grewcock 1000 Kiewit Plaza USA Chairman,
Director Omaha, NE 68131 Kiewit Mining
Group Inc.
Matthew J. Johnson 1000 Kiewit Plaza USA Vice President -
Vice President - Legal Omaha, NE 68131 Legal, PKS
Tait P. Johnson 1000 Kiewit Plaza USA President,
Director Omaha, NE 68131 Gilbert Industrial
Corporation
Ann C. McCulloch 1000 Kiewit Plaza USA Vice President,
Vice President, Treasurer Omaha, NE 68131 Treasurer, PKS
Thomas C. Stortz 1000 Kiewit Plaza USA Vice President,
Secretary Omaha, NE 68131 General
Counsel, Kiewit
Construction
Group Inc.
Eric J. Mortensen 1000 Kiewit Plaza USA Controller, PKS
Controller Omaha, NE 68131
Robert L. Giles, Jr. 1000 Kiewit Plaza USA Stock Registrar,
Stock Registrar and Omaha, NE 68131 PKS
Assistant Secretary
Tobin A. Schropp 1000 Kiewit Plaza USA KDG Tax
Assistant Secretary Omaha, NE 68131 Department
</TABLE>
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