<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 5)
(FINAL AMENDMENT)
Jacor Communications, Inc.
--------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
469858 41 0
-----------
(CUSIP Number)
Alisa M. Singer
Rosenberg & Liebentritt
Two North Riverside Plaza, Suite 1600
Chicago, Illinois 60606
(312) 466-3196
---------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 4, 1999
-----------------------------
(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 which is the subject of this Schedule 13D, and is filing
this Schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ].
Page 1 of 10
Exhibit Index appears on page 9
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 469858 41 0 PAGE 2 OF 10 PAGES
---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ZELL/CHILMARK FUND, L.P. FEIN: 3716608
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
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 -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
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!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 469858 41 0 PAGE 3 OF 10 PAGES
---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samstock, L.L.C. FEIN: 36-4156890
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
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 -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
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*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 469858 41 0 PAGE 4 OF 10 PAGES
---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SZ2 (IGP) Partnership FEIN: 3870923
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
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!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 469858 41 0 PAGE 5 OF 10 PAGES
---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samuel Zell
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
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*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 6
This Amendment No. 5 (this "Amendment") amends and supplements the
Schedule 13D dated April 23, 1993 (as previously amended, the "Schedule 13D")
with respect to the common stock, $0.01 par value per share (the "Common Stock")
of Jacor Communications, Inc. (the "Issuer"). Only those Items amended are
reported herein. All capitalized terms used in this Amendment and not otherwise
defined herein have the meanings ascribed to such terms in Amendment No. 4 to
the Schedule 13D dated October 8, 1998 ("Amendment No. 4").
Item 2. Identity and Background.
The information previously reported in Amendment No. 4 is hereby
amended to reflect that (i) the partners of Alphabet Partners and ZFT
Partnership are trusts created for the benefit of Samuel Zell and his family;
and (ii) the trustee of the four trusts associated with ZFT Partnership and the
three previously identified trusts associated with Alphabet Partners, is Chai
Trust Company, L.L.C., an Illinois limited liability company ("Chai Trust"). The
officers and directors of Chai Trust are as follows:
Bert Cohen is a Director of Chai Trust. Mr. Cohen is also a
semi-retired investor, whose residence is 181 North Carmelina Avenue,
Los Angeles, California 90049.
Kellie Zell Harper is a Director of Chai Trust and also works as a
homemaker.
Donald J. Liebentritt is a Vice President and Director of Chai Trust.
Mr. Liebentritt is also the Chief Operating Officer, Executive Vice
President and General Counsel of Equity Group Investments, L.L.C.
("Equity Group").
Sheli Z. Rosenberg is President, Chief Executive Officer and a Director
of Chai Trust. Ms. Rosenberg is also President and Chief Executive
Officer of Equity Group.
Leah Zell Wanger is a Director of Chai Trust. Ms. Wanger also co-owns
and co-manages Wanger Asset Management, the registered advisor for the
Acorn Mutual Funds, whose business address is 227 West Monroe Street,
Suite 300, Chicago, Illinois 60603.
JoAnn Zell is a Director of Chai Trust. Ms. Zell is also a medical
student.
Matthew Zell is a Director of Chai Trust. Mr. Zell is also President of
Prometheus Network Solutions, Inc., whose business address is Two North
Riverside Plaza, Suite 1700, Chicago, Illinois 60606.
Robert M. Levin is the Senior Trust Officer of Chai Trust. Mr. Levin is
also a partner in the law firm Levin & Schreder Ltd., whose business
address is 120 North LaSalle Street, Suite 3800, Chicago, Illinois
60602.
John Zoeller is Vice President, Chief Financial Officer, Assistant
Trust Officer and Treasurer of Chai Trust. Mr. Zoeller is also the Vice
President-Taxes of Equity Group.
The business address of Chai Trust and Kellie Zell Harper, Donald Liebentritt,
JoAnn Zell and John Zoeller is Two North Riverside Plaza, Chicago, Illinois
60606. All of the officers and directors of Chai Trust are United States
citizens.
Page 6 of 10
<PAGE> 7
Item 4. Purpose of Transaction.
Item 4. is hereby amended as follows:
On May 4, 1999 (the "Effective Date"), the Issuer merged with and into
a wholly-owned subsidiary of Clear Channel Communications, Inc., a Texas
corporation ("Clear Channel"). As part of this merger, each outstanding share of
Common Stock, including each outstanding share of Common Stock beneficially
owned by Zell/Chilmark, Samstock, SZ2 and Samuel Zell (the "Reporting Persons"),
was converted into 1.1573151 shares of common stock, par value $0.10 per share,
of Clear Channel (the "Clear Channel Common Stock").
Item 5. Interest in Securities of the Issuer.
Item 5. is hereby amended as follows:
(a), (b), (e) As a result of the Merger, the Issuer became a
wholly-owned subsidiary of Clear Channel. Since each outstanding share of Common
Stock was converted into 1.1573151 shares of Clear Channel Common Stock on the
Effective Date, neither the Reporting Persons nor the persons listed in Appendix
A to the Schedule 13D, beneficially own any shares of Common Stock of the
Issuer.
(c) In addition to the conversion of shares pursuant to the Merger as
described above, the following are the only transactions in the Common Stock
effected during the past 60 days by the Reporting Persons, or, to the best
knowledge of the Reporting Persons, any of the persons listed in Appendix A to
the Schedule 13D:
On March 31, 1999, Samuel Zell purchased 1,842 shares of Common Stock
under the Issuer's Non-Employee Director Stock Purchase Plan. The purchase price
was $54.29 per share.
On May 3, 1999, Samuel Zell exercised (i) an option to acquire 5,000
shares of Common Stock at an exercise price of $27.875 per share and (ii) a
second option to acquire 5,000 shares of Common Stock at an exercise price of
$60.66 per share. On the same date, Mr. Zell sold the 10,000 shares acquired
upon exercise of these options at a price of $79.7283 per share. Also on May 3,
1999, Samuel Zell converted 2,176 stock units, issued to Mr. Zell by the Issuer
in lieu of cash director fees, into 2,176 shares of Common Stock in a cashless
exercise.
Page 7 of 10
<PAGE> 8
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in the
statement is true, complete and correct.
DATED: May 10, 1999
ZELL/CHILMARK FUND, L.P.
By: ZC Limited Partnership, general partner
By: ZC Partnership, general partner
By: ZC, Inc., a partner
By: /s/ Samuel Zell
--------------------------------------------
Name: Samuel Zell
Title: President
SAMSTOCK, L.L.C.
By: SZ Investments, L.L.C., its sole member
By: Zell General Partnership, Inc., its
--------------------------------------
managing member
By: /s/ Samuel Zell
--------------------------------------------
Name: Samuel Zell
Title: President
SZ2 (IGP) PARTNERSHIP
By: /s/ Samuel Zell
--------------------------------------------
Name: Samuel Zell
Title: Partner
/s/ Samuel Zell
--------------------------------------------------
SAMUEL ZELL
Page 8 of 10
<PAGE> 9
EXHIBIT INDEX
Exhibit Number Description
-------------- -----------
1 Restructuring Agreement (incorporated herein by
reference to Appendix A of the Issuer's Proxy
Statement-Prospectus dated December 1, 1992 included
in its Registration Statement on Form S-4, file No.
33-53612). ***
2 Amended Agreement of Merger (incorporated herein by
reference to Appendix B of the Issuer's Proxy
Statement-Prospectus dated December 1, 1992 included
in its Registration Statement on Form S-4, file No.
33-53612). ***
3 Agreement of Understanding (incorporated herein by
reference to Appendix C of the Issuer's Proxy
Statement-Prospectus dated December 1, 1992 included
in its Registration Statement on Form S-4, file No.
33-53612). ***
4 Jacor Shareholders Agreement, dated February 12,
1996, between Citicasters and Zell/Chilmark. *
5 Stock Purchase Agreement (incorporated herein by
reference to Exhibit 1.2 of the Issuer's Form 8-K
dated as of May 15, 1997 and filed with the
Commission on May 19, 1997). ***
6 Underwriting Agreement (incorporated herein by
reference to Exhibit 1.1 of the Issuer's Form 8-K
dated as of May 15, 1997 and filed with the
Commission on May 19, 1997).
7 Letter of Direction, dated May 20, 1997, from Equity
Group Investments, Inc. to the Issuer. **
8 Lock-Up Agreement for Samuel Zell dated May 12, 1997.
**
9 Lock-Up Agreement for Zell/Chilmark Fund, L.P. dated
May 12, 1997. **
10 Joint Filing Agreement, dated May 16, 1997, among
Zell/Chilmark, Samstock, SZ2 and Anda Partnership. **
11 Agreement and Plan of Merger dated as of October 8,
1998 among the Issuer, Clear Channel and CCU Merger
Sub, Inc. (incorporated herein by reference to
Exhibit 2 of the Issuer's Current Report on Form 8-K
dated October 9, 1998 and filed with the Commission
October 9, 1998). ***
12 Form of Voting Agreement, dated as of October 8,
1998, between Clear Channel and each of
Zell/Chilmark, Samstock, SZ2 and Samuel Zell. ***
13 Registration Rights Agreement, dated as of October 8,
1998, among Clear Channel, Zell/Chilmark, Samstock,
SZ2 and Samuel Zell. ***
14 Amended and Restated Joint Filing Agreement, dated
October 16, 1998, among Zell/Chilmark, Samstock, SZ2
Anda Partnership and Samuel Zell. ***
Page 9 of 10
<PAGE> 10
* Previously filed as Exhibit No. 1 to Amendment No. 2 to this Schedule
13D which was dated February 20, 1996.
** The indicated documents were previously filed as Exhibit Nos. 2 through
5, respectively, to Amendment No. 3 to this Schedule 13D which was
dated May 28, 1997.
*** Previously filed as exhibits to Amendment No. 4 to this Schedule 13D
which was dated October 8, 1998.
Page 10 of 10
