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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):
January 11, 2001
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 January 11, 2001, we announced the signing of a Purchase Agreement
to sell our Seattle SuperSonics NBA franchise and related assets for $200
million. The transaction is expected to close during the first quarter of 2001.
We will use proceeds from the sale to pay down debt. A copy of the press release
is attached as an exhibit to this report.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial statements.
Not applicable.
(b) Pro forma financial information.
Not applicable
(c) Exhibits.
(99.1) Copy of Press Release
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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: January 18, 2001
THE ACKERLEY GROUP, INC.
By: /s/ Kevin E. Hylton
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Kevin E. Hylton
Senior Vice President, CFO,
Controller and Assistant Secretary
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