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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 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. 2)
PANAMSAT CORPORATION
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE PER SHARE 697933-10-9
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(Title of class of securities) (CUSIP number)
JENNIFER A. SMOLKER, ESQ.
GENERAL COUNSEL AND SECRETARY
HUGHES COMMUNICATIONS, INC.
200 N. SEPULVEDA BLVD.
EL SEGUNDO, CALIFORNIA 90245
(310) 662-9935
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(Name, address and telephone number of person authorized to
receive notices and communications)
APRIL 10, 2000
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(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rules 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [_].
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NY2:\891792\05\J44005!.DOC\53356.0066
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CUSIP No. 697933-10-9 13D Page 2
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1 NAME OF REPORTING PERSON: General Motors Corporation
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 38-0572515
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware
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NUMBER OF 7 SOLE VOTING POWER: 120,812,175
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 120,812,175
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 120,812,175
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 80.8%
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14 TYPE OF REPORTING PERSON: CO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 697933-10-9 13D Page 3
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1 NAME OF REPORTING PERSON: Hughes Communications, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): 95-3884435
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: California
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NUMBER OF 7 SOLE VOTING POWER: 120,812,175
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 120,812,175
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 120,812,175
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 80.8%
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14 TYPE OF REPORTING PERSON: CO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
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This Amendment No. 2 amends the statement jointly filed by
General Motors Corporation and Hughes Communications, Inc. with respect to the
shares of common stock, par value $.01 per share ("Common Stock"), of PanAmSat
Corporation (the "Company).
Item 2. Identity and Background.
-----------------------
(a) This statement is being filed jointly by General Motors
Corporation, a Delaware corporation ("GM"), and Hughes Communications, Inc., a
California corporation and an indirect, wholly-owned subsidiary of GM ("HCI,"
and together with GM, the "Reporting Persons"). The Reporting Persons are filing
this statement jointly pursuant to a Joint Filing Agreement attached hereto as
Exhibit 1.
(b) The address of GM's principal office is 300 Renaissance
Center, Detroit, Michigan 48265-3000. The address of HCI's principal office is
200 N. Sepulveda Blvd., El Segundo, California 90245. The names, business
addresses and principal businesses of each of the directors and executive
officers of each of GM and HCI are set forth on Schedule I hereto and
incorporated by reference herein.
(c) The principal business of GM is the design,
manufacturing and marketing of cars, trucks, locomotives, and heavy duty
transmissions and related parts and accessories, and financing and insurance
operations. The principal business of HCI is the development of satellite-based
communications businesses.
(d) During the last five years, none of the Reporting
Persons nor, to the best of their knowledge, any of the executive officers or
directors of any of the Reporting Persons, has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, none of the Reporting
Persons nor, to the best of their knowledge, any of the executive officers or
directors of any of the Reporting Persons, has been party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and, as a result
of such proceeding, was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
(f) To the best knowledge of the Reporting Persons, each of
the executive officers and directors of the Reporting Persons is a United States
citizen other than: Percy N. Barnevik, a director of GM, who is a citizen of
Sweden; Nobuyuki Idei, a director of GM, who is a citizen of Japan; and Eckhard
Pfeiffer, a director of GM, who is a citizen of Germany.
Item 4. Purpose of Transaction.
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HCI and its affiliates remain subject to certain
contractual provisions which prohibit HCI and its affiliates, for a period of
five years from May 16, 1997, from acquiring more than 81% of the outstanding
equity securities of the Company, except (i) pursuant to a merger which is
approved by the holders of a majority of the shares of Company common stock not
owned by HCI and its affiliates, (ii) pursuant to a tender offer recommended by
a majority of the Disinterested Directors (as defined) of the Company and
second-step merger which offers the same per share consideration to all holders
of Company common stock and in which more than half the outstanding Company
common stock not owned by HCI and its affiliates at the inception of the
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transaction is either tendered or voted in favor of the transaction, and (iii)
pursuant to such other transaction as shall provide parity of treatment of
holders of Company common stock and is approved by the holders of a majority of
the shares of Company common stock not owned by HCI and its affiliates and by a
majority of Disinterested Directors of the Company (the "Standstill
Restrictions").
None of the Reporting Persons has any present plan or
proposal which relates to, or could result in, any of the events referred to in
paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D. However, as
part of its strategic planning, management of HEC (as defined in Item 5 hereof)
may from time to time examine the desirability of increasing its ownership
interest in the Company and, subject to the terms of the Standstill Restrictions
and depending on general market and economic conditions affecting the Company,
HEC's views of the prospects for the Company, the price at which shares of the
Company could be acquired and other relevant factors, HCI and its affiliates
from time to time may seek to acquire additional shares of the Company's common
stock in open market transactions, private transactions or otherwise.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) As of April 10, 2000, HCI is the direct owner of
120,812,175 shares of Common Stock, which represents approximately 80.8% of the
outstanding shares of Common Stock (based on 149,446,936 outstanding shares as
of March 20, 2000). As of April 10, 2000, certain executive officers and
directors of the Reporting Persons beneficially owned an aggregate of
approximately 11,695 shares of Common Stock. The Reporting Persons disclaim any
beneficial interest in such shares.
(b) GM, acting through Hughes Electronics Corporation, a
Delaware corporation and a wholly-owned subsidiary of GM ("HEC"), and Hughes
Telecommunications and Space Company, a Delaware corporation and wholly-owned
subsidiary of HEC, indirectly has sole power to vote or direct the vote, and to
dispose or to direct the disposition of the shares of Common Stock beneficially
owned by GM. As a result, GM may be deemed to beneficially own the shares of
Common Stock directly owned by HCI.
(c) There have not been any transactions in the Common
Stock effected by or for the account of any of the Reporting Persons or any
executive officer or director of any of the Reporting Persons during the past 60
days.
(d) Except as stated in this Item 5, to the best knowledge
of the Reporting Persons, no other person has the right to receive dividends
from, or the proceeds from the sale of, the shares of Common Stock owned by the
Reporting Persons.
(e) Not applicable.
Item 7. Materials to be Filed as Exhibits.
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Exhibit 1 Joint Filing Agreement, dated April 10, 2000
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SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this statement is true,
complete and correct.
GENERAL MOTORS CORPORATION
By: Thomas A. Gottschalk
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Name: Thomas A. Gottschalk
Title: Senior Vice President and
General Counsel
HUGHES COMMUNICATIONS, INC.
By: Michael J. Gaines
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Name: Michael J. Gaines
Title: Senior Vice President
Date: April 10, 2000
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SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS OF
GENERAL MOTORS CORPORATION
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The name, business address, present principal occupation or employment, and the
name, principal business and address of any corporation or other organization in
which such employment is conducted, of each of the directors and executive
officers of General Motors Corporation is set forth below. Unless otherwise
specified, the business address of each person listed below is 300 Renaissance
Center, Detroit Michigan 48265-3000.
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Principal Occupation, If Other Than
Name and Business Address Position With GM As An Executive Officer Of GM
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Percy N. Barnevik Director Chairman, ABB Asea Brown Boveri Ltd.
ABB Asea Brown Ltd.
Affolternstasse 44
Box 8131
CH-8050 Zurich, Switzerland
John H. Bryan Director Chairman and Chief Executive Officer, Sara
Sara Lee Corporation Lee Corporation
Three First National Plaza
46th Floor
Chicago, IL 60602-4260
Thomas E. Everhart Director Professor Emeritus and Professor of
California Institute of Technology Electrical Engineering and Applied
1200 E. California Blvd. Physics, California Institute of Technology
Mail Code 202-31
Pasadena, CA 91125
Charles T. Fisher, III Director
John D. Finnegan Executive Vice President; Chairman and
President, General Motors Acceptance
Corporation
George M. C. Fisher Director Chairman of the Board, Eastman Kodak
Eastman Kodak Company Company
343 State Street
Rochester, NY 14650-0229
Nobuyuki Idei Director President and Chief Executive Officer,
Sony Corporation Sony Corporation
6-735 Kitashinagawa
Shinagawa-ku Tokyo 141-0001
Karen Katen Director President, U.S. Pharmaceuticals Group,
Pfizer Inc. Pfizer Inc.; Executive Vice President of
235 East 42nd Street the global Pfizer Pharmaceuticals Group
New York, NY 10017-5755
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Principal Occupation, If Other Than
Name and Business Address Position With GM As An Executive Officer Of GM
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J. Michael Losh Executive Vice President; Chief Financial
Officer
J. Willard Marriott, Jr. Director Chairman and Chief Executive Officer,
Marriott International, Inc. Marriott International, Inc.
One Marriott Drive
Washington, D.C. 20058
Ann D. McLaughlin Director Chairman, The Aspen Institute
The Aspen Institute
133 New Hampshire Ave, NW
Suite 1070
Washington, D.C. 20036
Harry J. Pearce Vice Chairman of the Board
Eckhard Pfeiffer Director Chairman, Intershop Communications
c/o General Motors Corporation AG/Inc.; Chairman, ricardo.de AG
300 Renaissance Center
Detroit Michigan 48265-3000
John G. Smale Director
The Procter & Gamble Company
P.O. Box 599
Mailbox #16
Cincinnati, OH 45201-0599
John F. Smith, Jr. Chairman of the Board and Chief Executive
Officer
Louis W. Sullivan Director President, Morehouse School of Medicine
Morehouse School of Medicine
720 Westview Drive, S.W.
Atlanta, GA 30310-1495
G. Richard Wagoner, Jr. President, Chief Operating Officer and
Director
Dennis Weatherstone Director
c/o J. P. Morgan & Co., Incorporated
60 Wall Street, 21st Floor
New York, NY 10260
Ronald L. Zarrella Executive Vice President; President, GM
North America
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DIRECTORS AND EXECUTIVE OFFICERS OF
HUGHES COMMUNICATIONS, INC.
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The name, business address, present principal occupation or employment, and the
name, principal business and address of any corporation or other organization in
which such employment is conducted, of each of the directors and executive
officers of Hughes Communications, Inc. is set forth below. Unless otherwise
specified, the business address of each person listed below is 200 N. Sepulveda
Blvd., El Segundo, CA 90245.
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Principal Occupation, If Other Than
Name and Business Address Position With HCI As An Executive Officer Of HCI
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Roxanne S. Austin Director Corporate Senior Vice President and Chief
Financial Officer of Hughes Electronics
Corporation
Frank A. Taormina President
Patrick T. Doyle Senior Vice President Vice President, Mergers and Acquisitions
of Hughes Electronics Corporation
Michael J. Gaines Senior Vice President Vice President and Controller of Hughes
Electronics Corporation
Jennifer A. Smolker General Counsel and Secretary Vice President and Assistant General
Counsel of Hughes Electronics Corporation
Grant J. Beatson Chief Financial Officer
Janet Williamson Assistant Secretary Corporate Secretary of Hughes Electronics
Corporation
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EXHIBIT INDEX
Exhibit No. Description of Exhibit
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Exhibit 1 Joint Filing Agreement, dated April 10, 2000
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EXHIBIT 1
JOINT FILING AGREEMENT
This will confirm the agreement by and among all of the undersigned that the
Schedule 13D filed on or about this date and any amendments thereto with respect
to the beneficial ownership by the undersigned of shares of the common stock,
$.01 par value per share, of PanAmSat Corporation is being filed on behalf of
each of the undersigned in accordance with Rule 13d-1(k)(1) under the Securities
Exchange Act of 1934. This agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
Date: April 10, 2000
GENERAL MOTORS CORPORATION
By: Thomas A. Gottschalk
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Name: Thomas A. Gottschalk
Title: Senior Vice President and
General Counsel
HUGHES COMMUNICATIONS, INC.
By: Michael J. Gaines
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Name: Michael J. Gaines
Title: Senior Vice President
