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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 3, 1998
THE ACKERLEY GROUP, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-10321 91-1043807
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(Commission File Number) IRS Employer Identification No.
1301 Fifth Avenue, Suite 4000
Seattle, Washington 98101
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (206) 624-2888
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ITEM 5. OTHER EVENTS
On December 3, 1998, The Ackerley Group, Inc., a Delaware corporation
("Company"), announced its plans to sell up to $150.0 million aggregate
principal amount of Senior Subordinated Notes due 2008 ("Notes"). The sale of
the Notes will be made in a private offering to certain qualified institutional
buyers and to non-U.S. persons outside of the United States. Net proceeds to
the Company from the offering will be used to repay bank debt.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial statements.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
(99) Press release issued by Company, dated December 3, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: December 4, 1998
THE ACKERLEY GROUP, INC.
By: DENIS M. CURLEY
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Denis M. Curley
Co-President and Chief Financial
Officer, Treasurer and Secretary
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EXHIBIT 99
From: The Ackerley Group, Inc.
Tel: (206) 624-2888
Analyst Contact: Dan Evans, Jr., Vice President Public Affairs
Denis Curley, Co-President and Chief Financial Officer
Leon Berman, The MWW Group, 1-800-724-7602
Media Contact: Rosanne Marks, MWW/Savitt, (206) 587-7734
THE ACKERLEY GROUP ANNOUNCES DEBT FINANCING
SEATTLE, Wash., December, 3, 1998 -- The Ackerley Group (NYSE: AK), a
leading media and entertainment company, announced today that it plans to sell
up to $150.0 million aggregate principal amount of Senior Subordinated Notes due
2008. The sale of the notes will be made in a private offering to certain
qualified institutional buyers and to non-U.S. persons outside the United
States. Net proceeds to the Company from the offering will be used to repay bank
debt.
The Notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements. This announcement is
neither an offer to sell nor a solicitation of an offer to buy any securities of
The Ackerley Group, Inc.
Certain statements in this report set forth management's intentions, plans,
beliefs, expectations or predictions of the future based on current facts and
analyses. Actual results may differ materially from those indicated in such
statements. Additional information on factors that may affect the business and
financial results of the Company can be found in filings of the Company with the
Securities and Exchange Commission.
