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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 2)
NATIONAL MEDIA CORPORATION
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
636919102
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(CUSIP Number)
11 Penn Center, Suite 1100, 1835 Market Street, Philadelphia, PA 19103
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 26, 1998
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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 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 / /.
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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 ("Act") 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).
(Continued on following page(s))
Page 1 of 9 Pages
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CUSIP No. 636919102 13D Page 2 of 9 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
NM ACQUISITION CO., LLC 95-4696564
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
DELAWARE
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Number of Shares (7) Sole Voting
Beneficially Owned Power -0-
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,311,520
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 10,311,520
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,311,520
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
28.97%
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(14) Type of Reporting Person*
00
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 636919102 13D Page 3 of 9 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
TEMPORARY MEDIA CO., LLC
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
00
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
DELAWARE
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power -0-
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,382,354
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 10,382,354
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,382,354
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
28.97%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
00
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 636919102 13D Page 4 of 9 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
DANIEL M. YUKELSON
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
UNITED STATES OF AMERICA
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Number of Shares (7) Sole Voting
Beneficially Owned Power -0-
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,382,354
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 10,382,354
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,382,354
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
28.97%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 636919102 13D Page 5 of 9 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
ERIC R. WEISS
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
UNITED STATES OF AMERICA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power -0-
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,382,354
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 10,382,354
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,382,354
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
28.97%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 636919102 13D Page 6 of 9 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
TRUE-DB, INC.
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
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(6) Citizenship or Place of Organization
NEVADA
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Number of Shares (7) Sole Voting
Beneficially Owned Power -0-
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,382,354
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 10,382,354
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,382,354
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
28.97%
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(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 636919102 13D Page 7 of 9 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
STEPHEN C. LEHMAN
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
UNITED STATES OF AMERICA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power -0-
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,382,354
--------------------------------------------------
(9) Sole Dispositive
Power -0-
--------------------------------------------------
(10) Shared Dispositive
Power 10,382,354
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,382,354
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
28.97%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 636919102 13D Page 8 of 9 Pages
The filing persons hereby amend Item 4 of Amendment No. 1 to Schedule 13D,
filed by the Filing Persons on September 8, 1998, as follows. Capitalized
terms used in this Amendment No. 2 and not otherwise defined have the
meanings ascribed to such terms in such Amendment No. 1.
ITEM 4. PURPOSE OF TRANSACTION
The purpose of the transactions described below is to cause ACO to
acquire a controlling interest in NMC. Subject to the satisfaction of the
conditions applicable to such transactions, including NMC stockholder
approval, ACO would be the beneficial owner of approximately 27,590,691
shares of Common Stock, representing approximately 52% of the outstanding
Common Stock on a fully diluted basis. At such time, ACO intends, pursuant
to the terms of its Operating Agreement, to dissolve and distribute in kind
the NMC equity securities held by it to its members in proportion to their
membership interests. Such dissolution and distribution are subject to the
agreement of the proposed recipients of such equity securities to enter into
a voting agreement, granting TMC an irrevocable proxy over all such NMC
securities, and an agreement restricting their rights to transfer such voting
securities.
On August 11, 1998, ACO entered into a Stock Purchase Agreement with
NMC, pursuant to which ACO will, subject to the satisfaction of certain
conditions including NMC stockholder approval, purchase from NMC up to 22,000
shares of Series E Convertible Preferred Stock ("Series E Stock"). Each share
of Series E Stock is to be convertible into 667 shares of Common Stock, and
each share of Series E Stock is to have voting power equal to 667 shares of
Common Stock. This transaction would result in: (i) ACO acquiring additional
NMC securities; (ii) NMC adopting a Certificate of Designations, Preferences
and Rights of Series E Stock; (iii) ACO having the right to appoint a
majority of Directors of NMC and a reduction in the number of Directors to
seven; (iv) the appointment of Mr. Lehman as NMC's Chief Executive Officer;
and (v) an increase in NMC's issued and authorized capital to allow for the
issuance and conversion of the Series E Stock.
On August 11, 1998, TMC entered into a Consulting Agreement with NMC,
pursuant to which TMC was granted: (i) warrants to purchase up to 2,612,500
shares of Common Stock (the "TMC Warrants"), subject to the satisfaction of
certain conditions including NMC stockholder approval of the transactions
contemplated by the Stock Purchase Agreement; and (ii) an option (the "TMC
Options") to purchase up to 212,500 shares of Common Stock, vesting over a
six month period from August 11, 1998, and subject to certain cancellation
conditions including NMC stockholder disapproval of the transactions
contemplated by the Stock Purchase Agreement.
On August 11, 1998, ACO entered into a Letter Agreement with Capital
Venture International, a Cayman Islands partnership, and RGC International
Investors, LDC, a Cayman Islands limited duration company, pursuant to which
ACO purchased: (i) 10,000 shares of Series D Convertible Preferred Stock of
NMC ("Series D Stock"); and (ii) warrants to purchase up to 992,942 shares of
Common Stock. See Item 5, below.
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.
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(Date)
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CUSIP No. 636919102 13D Page 9 of 9 Pages
NM ACQUISITION CO., LLC, TEMPORARY MEDIA CO., LLC
a Delaware limited liability company a Delaware limited liability
company
by its Manager,
Temporary Media Co., LLC By
a Delaware limited liability company
Daniel M. Yukelson
Managing Member
By
Daniel M. Yukelson STEPHEN C. LEHMAN,
Managing Member ERIC R. WEISS and
TRUE-DB, INC, a Nevada corporation
By
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DANIEL M. YUKELSON
Daniel M. Yukelson,
Attorney in fact
