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FORM 4
U.S. SECURITIES AND EXCHANGE COMMISSION ---------------------------------
[X] Check box if no longer WASHINGTON, D.C. 20549 | OMB APPROVAL |
subject to Section 16. Form ---------------------------------
4 or Form 5 obligations may STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0287|
continue. See Instruction 1(b). |Expires: September 30,1998|
|Estimated average burden |
|hours per response..........0.5|
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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 |2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person
| Pulitzer Publishing Company | to Issuer (Check all applicable)
Elkins Ken J. | (PTZ) | X Director X 10% Owner
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(Last) (First) (Middle) |3. IRS Identification | 4. Statement for | X Officer (give title below)
| Number of | Month/Year | -----
| Reporting Person, | | Other (specify below)
| if an Entity | March 1999 | -----
| (Voluntary) | | Senior Vice President-
900 North Tucker Boulevard | | | Broadcasting Operations
| | | ---------------------------------
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(Street) | ###-##-#### | 5. If Amendment, |7. Individual or Joint/Group Filing
| | Date of Original | (Check applicable line)
| | (Month/Year) | X Form Filed by One Reporting Person
St. Louis MO 63101 | | | --
- -----------------------------------------| | | Form Filed by More than One
(City) (State) (Zip) | | | Reporting Person
| | | --
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TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security |2.Transaction| 3. Transaction| 4. Securities Acquired(A)| 5. Amount of|6. Owner |7. Nature
(Instr. 3) | Date | Code | or Disposed of (D) | Securities | -ship | of
| | (Instr. 8) | (Instr. 3, 4 and 5) | Beneficially| Form: | Indirect
| | | | Owned at End| Direct | Bene-
| |---------------|--------------------------| of Month | (D) or | ficial
| | | | | (A) | | (Instr. 3 | Indirect| Owner-
|(Month/Day/ | | | | or | | and 4) | (I) | ship
| Year) | Code | V | Amount | (D) | Price | |(Instr.4)|(Instr.4)
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
Common Stock, $.01 par value | 03/18/1999 |U (01)| |18029. | D | | 0 | D |
| | | |379 | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
Common Stock, $.01 par value (02) | 03/18/1999 |U (01)| |14310003| D | | 0 (03)| I | (04)
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
- -----------------------------------------|-------------|-------|-------|--------|------|----------|-------------|---------|---------
| | | | | | | | |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative | 2. Conver- |3. Trans- |4. Trans- |5. Number of |6. Date Exer- |7. Title and Amount |8. Price
Security | sion or | action | action | Derivative | cisable and | of Underlying | of
(Instr. 3) | Exercise | Date | Code | Securities Ac- | Expiration | Securities | Deriv-
| Price of | | (Instr. 8)| quired (A) or | Date | (Instr. 3 and 4) | ative
| Deriv- | (Month/| | Disposed of (D)| (Month/Day/ | | Secur-
| ative | Day/ | | (Instr. 3, 4, | Year) | | ity
| Security | Year) | | and 5) | | | (Instr. 5)
| | | | |-------------------------------------|
| | | | |Date |Expira- | | Amount or |
| | |-------------------------------|Exer- |tion | Title | Number of |
| | | Code |V | (A) |(D) |cisable|Date | | Shares |
- ------------------------|-------------|----------|-------|----|--------|---------|-------|--------|--------|-----------|------------
Stock Option | $ 9.2727 |03/18/1999|D | | | 6666 |11/23/ |11/23/ |Common | 6666 | $69.6898
(right to buy) | | | (05) | | | |1991 |2000 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
- ------------------------|-------------|----------|-------|----|--------|---------|-------|--------|--------|-----------|------------
Stock Option | $11.7272 |03/18/1999|D | | | 18333 |10/22/ |10/22/ |Common | 18333 | $67.2353
(right to buy) | | | (05) | | | |1992 |2001 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
- ------------------------|-------------|----------|-------|----|--------|---------|-------|--------|--------|-----------|------------
Stock Option | $18.5454 |03/18/1999|D | | | 18333 |12/29/ |12/29/ |Common | 18333 | $60.4171
(right to buy) | | | (05) | | | |1993 |2002 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
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Stock Option | $21.9750 |03/18/1999|D | | | 16667 |12/21/ |12/21/ |Common | 16667 | $56.9875
(right to buy) | | | (05) | | | |1994 |2003 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
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Stock Option | $21.5250 |03/18/1999|D | | | 33333 |11/02/ |11/02/ |Common | 33333 | $57.4375
(right to buy) | | | (05) | | | |1995 |2004 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
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Stock Option | $34.4062 |03/18/1999|D | | | 30000 |12/19 |12/19/ |Common | 30000 | $44.5563
(right to buy) | | | (05) | | | |1996 |2005 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
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Stock Option | $46.2500 |03/18/1999|D | | | 32000 |12/18/ |12/18/ |Common | 32000 | $32.7125
(right to buy) | | | (05) | | | |1997 |2006 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
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Stock Option | $58.8125 |03/18/1999|D | | | 35000 |12/18/ |12/18/ |Common | 35000 | $20.1500
(right to buy) | | | (05) | | | |1998 |2007 |Stock, | |
| | | | | | | | |$.01 par| |
| | | | | | | | |value | |
| | | | | | | | | | |
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9. Number of | 10. Ownership | 11. Nature of
Derivative | Form of | Indirect
Securities | Derivative | Beneficial
Beneficially | Security: | Ownership
Owned at End | Direct (D) | (Instr. 4)
of Month | or Indirect (I) |
(Instr. 4) | (Instr. 4) |
- ------------------|------------------------|------------------------------
0 | D |
- ------------------|------------------------|------------------------------
0 | D |
- ------------------|------------------------|------------------------------
0 | D |
- ------------------|------------------------|------------------------------
0 | D |
- ------------------|------------------------|------------------------------
0 | D |
- ------------------|------------------------|------------------------------
0 | D |
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0 | D |
- ------------------|------------------------|------------------------------
0 | D |
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Explanation of Responses:
(01) Table I. Item 3.
Effective as of March 18, 1999, Pulitzer Publishing Company (the "Company") completed the spin-off of its publishing
and new media properties and consummated the merger of the Company with and into Hearst-Argyle Television, Inc.
("Hearst-Argyle"). In the merger, each share of the Company's Common Stock and Class B Common Stock was converted into
the right to receive 1.63914877 shares of Hearst-Argyle's Series A Common Stock.
(02) Table I. Item 1.
Class B Common Stock which is convertible at any time, on a share for share basis, into Common Stock.
(03) Table 1. Item 5.
Pursuant to Rule 16a-1 under the Rules and Regulations promulgated under the Securities and Exchange Act of 1934, as
amended, beneficial ownership of these
/s/ Ken J. Elkins 4/9/99
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Signature of Reporting Person(1) Date
(1)Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.
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EXPLANATION OF RESPONSES (cont.) FORM 4
cont. (03) shares has been disclaimed.
(04) Table I. Item 7:
Held in a voting trust covering 14,310,003 shares of Class B common
Stock, $.01 per value, convertible into 14,310,003 shares of Common
Stock, as to which Mr. Elkins serves as one of the Trustees with
limited power to vote the shares of Class B Common Stock.
(05) Table II. Item 3.
Effective as of March 18, 1999, Pulitzer Publishing Company (the
"Company") completed the spin-off of its publishing and new media
properties and consummated the merger of the Company with and into
Hearst-Argyle Television, Inc. Immediately prior to the
effectiveness of the merger, all outstanding options under the
Pulitzer Publishing Company 1994 Stock Option Plan, whether or not
vested, were cashed out by taking the excess of the cashout price of
$78.9625 subtracted by the option exercise price covering each of
the options.
