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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
OUTLET COMMUNICATIONS, INC.
(Name of issuer)
CLASS A COMMON STOCK, $.01 PAR VALUE
(Title of class of securities)
69-111-10-9
(CUSIP number)
William F. Mosconi
Drew University
36 Madison Avenue
Madison, New Jersey 07940
(Name, address and telephone number of person
authorized to receive notices and communications)
September 28, 1995
(Date of event which requires filing
of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the transaction 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 [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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.
(Continued on following pages)
(Page 1 of 4 Pages)
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CUSIP No. 69 111 10 9 13D Page 2 of 4 Pages
<TABLE>
<S> <C> <C>
1 NAME OF PERSON
DREW UNIVERSITY
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
22-1487164
2 CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP* (a) [ ]
(b) [X]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
NOT APPLICABLE
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) [ ]
or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW JERSEY
7 SOLE VOTING POWER
-0-
NUMBER OF SHARES
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER
EACH REPORTING PERSON 4,073,376
WITH
9 SOLE DISPOSITIVE POWER
14,591
10 SHARED DISPOSITIVE POWER
-0-
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,073,376
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
69.1%
14 TYPE OF PERSON REPORTING*
00
</TABLE>
* SEE INSTRUCTIONS BEFORE FILLING OUT
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GENERAL. This Amendment No. 1 to the Schedule 13D amends, to the
extent set forth herein, the Schedule 13D dated December 2, 1994 filed by Drew
University ("The Filing Person").
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The responses to paragraphs (a) through (c) of Item 5 are
hereby amended to add the following:
On September 28, 1995, the Filing Person received 14,591
shares of Common Stock pursuant to a charitable gift. The Filing Person had no
other transactions in the shares of Common Stock during the past sixty (60)
days.
Following this transaction, the Filing Person is the direct
beneficial owner of 14,591 shares of the Common Stock representing .2% of the
outstanding Common Stock, based on the 6,579,631 shares of Common Stock
outstanding on June 30, 1995 as reported in the Company's Form 10-Q for the
quarterly period ended June 30, 1995.
By virtue of the provisions of the Stockholders' Agreement
described in Item 6 of this Schedule 13D, the Filing Person may be deemed to be
the indirect beneficial owner of approximately 4,073,376 shares of Common Stock
held by the parties to such agreement. The Filing Person disclaims beneficial
ownership of the shares of Common Stock held by the other parties to the
Stockholders' Agreement.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: October 6, 1995. Drew University
/s/ Michael B. McKitish
----------------------------
Name: Michael B. McKitish
Title: Vice President of
Finance and Business Affairs
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