U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
AT&T Corp.
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(Last) (First) (Middle)
32 Avenue of the Americas
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(Street)
New York New York 10013-2412
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
March 9, 1999
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3. IRS Identification Number of Reporting Person (if an entity)
13-4924710
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4. Issuer Name and Ticker or Trading Symbol
Cablevision Systems Corporation (Symbol: CVC)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Class A Common Stock 49,982,572 (see attached) I see attached
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Securi- Form of
2. Date Exercisable ties (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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Explanation of Responses: SEE ATTACHED.
(See attached) (See attached)
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Signature of Reporting Person Date
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FORM 3 CONTINUATION SHEET
EXPLANATION OF RESPONSES
This Initial Statement of Beneficial Ownership on Form 3 (this
"Form") is filed by AT&T Corp., a New York corporation ("AT&T"). AT&T succeeded,
as of March 9, 1999, to the beneficial ownership of 48,942,172 of the 49,982,572
shares of Class A Common Stock ("Class A Common Stock") of Cablevision Systems
Corporation ("Cablevision") (Symbol: CVC) reported on this Form as a result of
the merger (the "Merger") of Italy Merger Corp., a wholly owned subsidiary of
AT&T, with and into Tele-Communications, Inc. ("TCI"). Liberty Media
Corporation, a Delaware corporation, succeeded to the beneficial ownership of
the remaining 1,040,400 of such 49,982,572 shares of Class A Common Stock as a
result of the Merger.
As described more fully below, AT&T is the beneficial owner of
48,942,172 shares of Class A Common Stock for purposes of Section 13(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act") and Liberty
Media Corporation is the beneficial owner of 1,040,400 shares of Class A Common
Stock for purposes of Section 13(d) of the Exchange Act, however, because AT&T
has a pecuniary interest (as such term is defined in Rule 16a-1(a)(2) of the
Exchange Act) in the 1,040,400 shares of Class A Common Stock beneficially owned
by Liberty Media Corporation, such 1,040,400 shares of Class A Common Stock are
reported on this Form.
TCI had previously filed a Statement of Beneficial Ownership on Form
3 reporting beneficial ownership of all of the shares of Class A Common Stock
reported on the Form. A wholly owned subsidiary of TCI holds the 48,942,172
shares Class A Common Stock beneficially owned by AT&T.
In the Merger, among other things, (i) TCI became a wholly owned
subsidiary of AT&T, (ii) the businesses and assets of TCI's Liberty Media Group
and TCI's TCI Ventures Group were combined and (iii) the holders of TCI's TCI
Group common stock received in exchange for their shares common stock of AT&T
and the holders of TCI's Liberty Media Group common stock and TCI's TCI Ventures
Group common stock received in exchange for their shares a new class of common
stock of AT&T intended to reflect the results of the combined Liberty Media
Group and TCI Ventures Group. Following the Merger, AT&T's "Liberty Media Group"
consists of the assets and businesses of TCI's Liberty Media Group and TCI's TCI
Ventures Group prior to the Merger, except for certain assets which were
transferred (the "Asset Transfers") from the TCI Ventures Group to TCI's TCI
Group in connection with the Merger, and AT&T's "Common Stock Group" consists of
all of the other assets and businesses of AT&T, including those of the TCI Group
prior to the Merger and the assets acquired by the TCI Group pursuant to the
Asset Transfers.
Following the Merger, the 1,040,400 shares of Class A Common Stock
beneficially owned by Liberty Media Corporation are held by the Liberty Media
Group. Although the assets and businesses of the Liberty Media Group are held by
a wholly owned subsidiary of AT&T (and therefore AT&T has a pecuniary interest
in the shares of Class A Common Stock held by the Liberty Media Group for
purposes of Rule 16a-1(a)(2) of the
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Exchange Act), the Board of Directors and management of Liberty Media
Corporation, which is the primary operating unit of the Liberty Media Group,
manage the business and affairs of the Liberty Media Group, including, but not
limited to, making determinations regarding the disposition and voting of such
1,040,400 shares of Class A Common Stock. A majority of Liberty Media
Corporation's Board of Directors consists of individuals designated by TCI prior
to the Merger. If these individuals or their designated successors cease to
constitute a majority of Liberty Media Corporation's Board of Directors, Liberty
Media Corporation will transfer the assets and businesses of the Liberty Media
Group to a new entity. Although, this new entity would be owned substantially by
AT&T it would continue to be managed (including with respect to the voting and
disposition of such 1,040,400 shares of Class A Common Stock) by management of
Liberty Media Corporation in place prior to such transfer of assets and
businesses.
As a result, Liberty Media Corporation, acting through its Board of
Directors and management, will have the power to determine how such 1,040,400
shares of Class A Common Stock will be voted and, subject to the limitations of
the Delaware General Corporation law, will have the power to dispose of such
shares of Class A Common Stock and, thus, Liberty Media Corporation is
considered the beneficial owner of the such shares of Class A Common Stock for
purposes of Section 13(d) of the Exchange Act.
The foregoing summary is qualified in its entirety by reference to
the text of the Agreement and Plan of Restructuring and Merger, dated as of June
23, 1998, among AT&T, Italy Merger Corp. and TCI and the description of (i) the
Merger and the related transactions and (ii) the relationship between (a) AT&T
and Liberty Media Corporation and (b) AT&T's Common Stock Group and AT&T's
Liberty Media Group, set forth in the AT&T/TCI Proxy Statement/Prospectus (the
"AT&T/TCI Proxy Statement/Prospectus") that forms a part of the Registration
Statement on Form S-4 (File No. 333-70279) of AT&T filed on January 8, 1999,
each of which were filed as Exhibits to AT&T's Schedule 13D filed with respect
to Cablevision on the date hereof. All capitalized terms used but not defined in
the foregoing summary shall have the meanings given to them in the AT&T/TCI
Proxy Statement/Prospectus.
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SIGNATURES OF REPORTING PERSONS
Dated: March 19, 1999.
AT&T CORP.
By: /s/ Robert S. Feit
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Name: Robert S. Feit
Title: Authorized Signatory
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