SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a).
(Amendment No. 4)(1)
PRICE COMMUNICATIONS CORPORATION
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
741437305
(CUSIP Number)
Copy to:
Mr. Edward Grinacoff Morrison Cohen Singer & Weinstein, LLP
21st Century Communications 750 Lexington Avenue
Partners, L.P. New York, New York 10022
767 Fifth Avenue, 45th Floor Telephone (212) 735-8600
New York, New York 10153
Telephone (212) 754-8100
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
November 10, 1998
(Date of Event which Requires Filing 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(e, 13d-1(f) or 13d-(g), check the following box
|_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following page(s))
- ----------
(1) 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 disclosures provided in a prior cover page.
The information required on 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 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).
-1 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
Delaware
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-2 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications T-E Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
Delaware
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-3 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Foreign Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
Delaware
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-4 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Sandler Capital Management
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 971,714 shares 4.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 971,714 shares 4.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
971,714 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
4.3%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-5 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Michael J. Marocco
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
1,706,088 shares 7.5%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
1,706,088 shares 7.5%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,706,088 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.5%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-6 of 22-
<PAGE>
CUSIP
No. 741437305 13D
________________________________________________________________________________
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
John Kornreich
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
1,831,088 shares 8.1%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
1,831,088 shares 8.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,831,088 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
8.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-7 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Harvey Sandler
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 579,294 shares 2.6%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
1,730,774 shares 7.6%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 579,294 shares 2.6%
Person _________________________________________________________________
10 Shared Dispositive Power
With
1,730,774 shares 7.6%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
2,310,068 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
10.2%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-8 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Andrew Sandler
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
1,706,088 shares 7.5%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
1,706,088 shares 7.5%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,706,088 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.5%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-9 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-10 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Fingerhut
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-11 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Irwin Lieber
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-12 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Phyllis Sandler
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 24,686 shares 0.1%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
579,294 shares 2.6%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 24,686 shares 0.1%
Person _________________________________________________________________
10 Shared Dispositive Power
With
579,294 shares 2.6%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
603,980 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
2.7%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-13 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Sandler Associates
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 734,374 shares 3.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 734,374 shares 3.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
734,374 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
3.2%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-14 of 22-
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
J.K. Media L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 125,000 shares 0.6%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 125,000 shares 0.6%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
125,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0.6%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
-15 of 22-
<PAGE>
This statement, dated November 10, 1998, constitutes Amendment No. 4 to the
Schedule 13D, dated October 6, 1997, regarding the reporting persons ownership
of certain securities of Price Communications Corporation (the "Issuer").
This Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 4 to the Schedule is filed in accordance with Rule 13d-2
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the
reporting persons. It shall refer only to information which has materially
changed since the filing of the Schedule.
The information contained herein reflects a five-for-four stock split
effected in April, 1998, a five-for four stock split effected in May, 1998 and a
two-for-one stock split effected in August, 1998.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 22,681,883 shares of Common Stock outstanding as reported by the
Issuer in its Form 10-Q for the quarter ended September 30, 1998) of outstanding
shares of Common Stock owned beneficially by each reporting person named in Item
2, as of November 11, 1998:
-16 of 22-
<PAGE>
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(2) Beneficially Owned(2)
---- --------------------- ---------------------
<S> <C> <C>
21st Century Communications Partners, L.P. 0 0%
21st Century Communications T-E Partners, L.P. 0 0%
21st Century Communications Foreign 0 0%
Sandler Capital Management 971,714(3) 4.3%
Michael J. Marocco 1,706,088(3,4,5) 7.5%
John Kornreich 1,831,088(3,4,5,6) 8.1%
Harvey Sandler 2,310,068(3,4,5,7,8) 10.2%
Andrew Sandler 1,706,088(3,4,5) 7.5%
Barry Rubenstein 0 0%
Barry Fingerhut 0 0%
Irwin Lieber 0 0%
Phyllis Sandler 603,980(3,7,8) 2.7%
Sandler Associates 734,374(5) 3.2%
J.K. Media L.P. 125,000(6) 0.6%
</TABLE>
(b) By virtue of being the general partner of SIP and the manager of
certain accounts owning shares of Common Stock and Warrants with respect to
which SCM exercises investment discretion, SCM may be deemed to have shared
power to vote and to dispose of 971,714 shares of Common Stock (which includes
shares of Common Stock issuable upon the exercise of the Warrants), representing
approximately 4.3% of the outstanding Common Stock.
By virtue of being the sole shareholder of MJDM Corp. and a general partner
of Sandler Associates, Michael J. Marocco may be deemed to have shared power to
vote and to dispose of 1,706,088 shares of Common Stock (which includes shares
of Common Stock issuable
- ----------
(2) Includes shares of Common Stock issuable upon the exercise of the Warrants.
(3) Includes 971,714 shares of Common Stock owned by SCM. SCM disclaims
beneficial ownership of 917,964 shares of Common Stock and 53,750 shares of
Common Stock issuable upon the exercise of the Warrants held in accounts
managed by SCM.
(4) The reporting person disclaims beneficial ownership of these securities,
except to the extent of his/her/its equity interest therein.
(5) Includes 734,374 shares of Common Stock owned by Sandler Associates.
(6) Includes 125,000 shares of Common Stock owned by J.K. Media.
(7) Includes 579,294 shares of Common Stock owned by Harvey Sandler.
(8) Includes 24,686 shares of Common Stock owned by Phyllis Sandler.
-17 of 22-
<PAGE>
upon the exercise of the Warrants), representing approximately 7.5% of the
outstanding Common Stock.
By virtue of being the sole shareholder of Four JK Corp., a general partner
of Sandler Associates and a general partner of J.K. Media L.P., John Kornreich
may be deemed to have shared power to vote and to dispose of 1,831,088 shares of
Common Stock (which includes shares of Common Stock issuable upon the exercise
of the Warrants), representing approximately 8.1% of the outstanding Common
Stock.
By virtue of being the sole shareholder of ARH Corp., a general partner of
Sandler Associates, and the husband of Phyllis Sandler, Harvey Sandler may be
deemed to have shared power to vote and to dispose of 1,730,774 shares of Common
Stock (which includes shares of Common Stock issuable upon the exercise of the
Warrants), representing approximately 7.6% of the outstanding Common Stock.
Harvey Sandler has sole power to vote and to dispose of 579,294 shares of Common
Stock, representing approximately 2.6% of the outstanding Common Stock.
By virtue of being the sole shareholder of ALCR Corp. and a general partner
of Sandler Associates, Andrew Sandler may be deemed to have shared power to vote
and to dispose of 1,706,088 shares of Common Stock (which includes shares of
Common Stock issuable upon the exercise of the Warrants), representing
approximately 7.5% of the outstanding Common Stock.
By virtue of being the wife of Harvey Sandler, Phyllis Sandler may be
deemed to have shared power to vote and to dispose of 579,294 shares of Common
Stock, representing approximately 2.6% of the outstanding Common Stock. Phyllis
Sandler has sole power to vote and to dispose of 24,686 shares of Common Stock,
representing approximately 0.1% of the outstanding Common Stock.
Sandler Associates has sole power to vote and to dispose of 734,374 shares
of Common Stock, representing approximately 3.2% of the outstanding Common
Stock.
J.K. Media has sole power to vote and to dispose of 125,000 shares of
Common Stock, representing approximately 0.6% of the outstanding Common Stock.
(c) The following is a description of all transactions in the shares of
Common Stock by the persons identified in Item 2 of this Schedule 13D effected
from October 16, 1998 through November 11, 1998, inclusive:
-18 of 22-
<PAGE>
<TABLE>
<CAPTION>
Number of Shares of
Purchase or Common Stock Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
------------------- --------- ------------------- ----------
<S> <C> <C> <C>
21st Century Communications Partners, L.P. 10/26/98 (20,747) $8.3556
10/27/98 (13,154) $8.25
11/2/98 (6,984) $8.25
11/3/98 (11,534) $8.25
11/6/98 (12,611) $8.9328
11/9/98 (17,629) $9.0625
11/10/98 (409,437) $8.00
21st Century Communications T-E Partners, L.P. 10/26/98 (7,059) $8.3556
10/27/98 (4,475) $8.25
11/2/98 (2,376) $8.25
11/3/98 (33,902) $8.25
11/6/98 (4,291) $8.9328
11/9/98 (5,997) $9.0625
11/10/98 (109,328) $8.00
21st Century Communications Foreign Partners, L.P. 10/26/98 (2,794) $8.3556
10/27/98 (1,771) $8.25
11/2/98 (940) $8.25
11/3/98 (4,564) $8.25
11/6/98 (1,698) $8.9328
11/9/98 (2,374) $9.0625
11/10/98 (52,107) $8.00
Phyllis Sandler 11/11/98 (15,000) $8.25
11/11/98 (15,000) $8.375
</TABLE>
All sales of shares of Common Stock were effected in open market
transactions on the American Stock Exchange.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Effective November 10, 1998, 21st Century Communications Partners,
L.P., 21st Century Communications T-E Partners, L.P., 21st Century
Communications Foreign Partners, L.P., Barry Rubenstein, Barry Fingerhut and
Irwin Lieber ceased to be the beneficial owners of more than five percent (5%)
of the Common Stock.
-19 of 22-
<PAGE>
Signature
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
Schedule is true, complete, and correct.
Dated: April 30, 1999
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
-----------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
-----------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
-----------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
-20 of 22-
<PAGE>
Michael J. Marocco
-----------------------------------
Michael J. Marocco
John Kornreich
-----------------------------------
John Kornreich
Harvey Sandler
-----------------------------------
Harvey Sandler
Andrew Sandler
-----------------------------------
Andrew Sandler
SANDLER CAPITAL MANAGEMENT
By: ARH Corp.
By: Edward Grinacoff
------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
Phyllis Sandler
------------------------------------
Phyllis Sandler
SANDLER ASSOCIATES
By: Andrew Sandler
------------------------------------
Name: Andrew Sandler
Title: General Partner
J.K. MEDIA L.P.
By: John Kornreich
------------------------------------
Name: John Kornreich
Title: General Partner
-21 of 22-
<PAGE>
Barry Rubenstein
------------------------------------
Barry Rubenstein
Irwin Lieber
------------------------------------
Irwin Lieber
Barry Fingerhut
------------------------------------
Barry Fingerhut
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
-22 of 22-
