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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934
FRISCH'S RESTAURANTS, INC.
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(Exact Name of Registrant as Specified in its Charter
OHIO 1-7323 31-0523213
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2800 GILBERT AVENUE, CINCINNATI, OHIO 45206
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: 513-961-2660
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ITEM 5. OTHER EVENTS
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Frisch's Restaurants, Inc. (the "Company") has entered into a Letter of
Intent to sell its 1/15th limited partnership interest (the "Unit") in The
Cincinnati Reds, an Ohio limited partnership (the "Partnership"), to Jonathan J.
Ledecky. The purchase price for the Unit will be $7,000,000, to be paid at a
Closing to be held no later than September 30, 1998. The sale of the Unit is
subject to execution of a mutually agreeable definitive sale agreement, the
approvals of the National League of Professional Baseball Clubs and the General
Partner of the Partnership and the waiver by the other partners of the
Partnership of their right of first refusal to purchase the Unit. The press
release dated August 6, 1998 announcing the execution of the Letter of Intent is
attached hereto as Exhibit 1 and incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRISCH'S RESTAURANTS, INC.
Dated: August 10, 1998 By: /s/ DONALD H. WALKER
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DONALD H. WALKER, Chief Financial
Officer
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EXHIBIT 1
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SUMMARY:
Frisch's Enters into Letter of Intent to
Sell Its Interest in the Cincinnati Reds
COMPANY CONTACT:
Craig F. Maier
President
(513) 559-5118
FRISCH'S RESTAURANTS, INC.
2800 Gilbert Avenue
Cincinnati, Ohio 45206
FOR IMMEDIATE RELEASE
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Cincinnati, Ohio, August 6, 1998
Craig F. Maier, President and CEO of Frisch's Restaurants, Inc.
(American Stock Exchange: FRS) announced today that the Company has entered into
a letter of intent to sell its 1/15th limited partnership interest in the
Cincinnati Reds for $7,000,000 to Jonathan J. Ledecky, a Washington, D.C.
businessman. The transaction is subject to several contingencies, including the
preparation of a definitive agreement, the approval of the other owners of the
Reds and the approval of the National League. The letter of intent calls for the
sale to be completed by September 30, 1998.
"Last year's planning process and our strategic plan, including a
possible sale of our Reds interest, are continuing to pay off for our
shareholders," said Mr. Maier. "This sale is a further opportunity to pay down
the tender offer debt and enhance shareholder value."
