SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Schedule 13G
Amendment No.2
Under the Securities Exchange Act of 1934
Evergreen Media Corporation
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
300248101
(CUSIP Number)
Check the following box if a fee is being paid with this
statement.
( )
The information required in the remainder of this cover page
(except any items to which the form provides a cross-reference)
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.
CUSIP No.
300248101
1) Names of Reporting Person
Lehman Brothers Holdings Inc.
S.S. or I.R.S. Identification No. of Above Person
13-3216325
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
HC/CO
CUSIP No.
300248101
1) Names of Reporting Person
LB I Group Inc.
S.S. or I.R.S. Identification No. of Above Person
13-2741778
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
HC/CO/OO
CUSIP No.
300248101
1) Names of Reporting Person
Lehman Brothers Merchant Banking Portfolio Partnership L.P.
S.S. or I.R.S. Identification No. of Above Person
13-354405
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
PN
CUSIP No.
300248101
1) Names of Reporting Person
Lehman Brothers Offshore Partners Ltd.
S.S. or I.R.S. Identification No. of Above Person
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Bermuda
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
CO
CUSIP No.
300248101
1) Names of Reporting Person
Lehman Brothers Offshore Investment Partnership--Japan L.P.
S.S. or I.R.S. Identification No. of Above Person
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Bermuda
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
PN
CUSIP No.
300248101
1) Names of Reporting Person
Lehman Brothers Offshore Investment Partnership L.P.
S.S. or I.R.S. Identification No. of Above Person
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Bermuda
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
PN
CUSIP No.
300248101
1) Names of Reporting Person
Lehman Brothers Capital Partners II, L.P.
S.S. or I.R.S. Identification No. of Above Person
13-354406
2) Check the Appropriate box if a Member of a Group
(a) (___) Sole
(b) ( X ) Joint Filing
3) SEC Use Only
4) Citizenship or Place of Organization
Delaware
Number of Shares Beneficially Owned
by Each Reporting Person With:
5) Sole Voting Power
-0-
6) Shared Voting Power
-0-
7) Sole Dispositive Power
-0-
8) Shared Dispositive Power
-0-
9) Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
10) Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
(___)
11) Percent of Class Represented by Amount in Row 9
0%
12) Type of Reporting Person
PN
Item 1(a). Name of Issuer: Evergreen Media Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
433 East Las Colinas Boulevard
Irving, Texas 75039
Item 2(a). Name of Person Filing:
Lehman Brothers Holdings Inc.
LB I Group Inc.
Lehman Brothers Offshore Partners Ltd.
Lehman Brothers Merchant Banking Portfolio Partnership L.P.
Lehman Brothers Offshore Investment Partnership L.P.
Lehman Brothers Capital Partners II, L.P.
Lehman Brothers Offshore Investment Partnership--Japan L.P.
Item 2(b). Address of Principal Business Office:
3 World Financial Center
New York, NY 10285
Item 2(c). Citizenship or Place of Organization:
See Item 4 of cover pages
Item 2(d). Title of Class of Securities:
Class A Common
Item 2(e). CUSIP Number:
300248101
Item 3. Information if statement is filed pursuant to Rules
13d-1(b) or 13d-2(b):
Not Applicable
Item 4. Ownership
(a) Amount Beneficially Owned as of: December 31, 1994
See Item 9 of cover pages
(b) Percent of Class:
See Item 11 of cover pages
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition
(iv) shared power to dispose or to direct the disposition
See Items 5-8 of cover pages
Item 5. Ownership of Five Percent or Less of a Class
This statement is being filed to report that as of May 31,
1995 the Reporting Persons have ceased to be the beneficial
owners of more than 5% of the class of securities covered by this
report.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person
Not Applicable.
Item 7. Identification and Classification of the Subsidiary
which
Acquired the Security being reported on by the Parent Holding
Company
See Item 2(a)
Item 8. Identification and Classification of Members of the
Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purposes or effect.
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned hereby certifies that the
information set forth in this statement is true, complete and
correct.
Dated: May 31, 1995
LEHMAN BROTHERS HOLDINGS INC.
By:_____________________
Name: Karen C. Manson
Title: Vice President
Secretary
LEHMAN BROTHERS INC.
By:_____________________
Name: Karen C. Manson
Title: Senior Vice President
Secretary
LB I GROUP INC.
By:_____________________
Name: Karen C. Manson
Title: Secretary
LEHMAN BROTHERS OFFSHORE PARTNERS LTD.
By:_____________________
Name: Karen C. Manson
Title: Authorized Representative
LEHMAN BROTHERS MERCHANT BANKING PORTFOLIO PARTNERSHIP L.P.
By:_____________________
Name: Karen C. Manson
Title: Authorized Representative
LEHMAN BROTHERS OFFSHORE INVESTMENT PARTNERSHIP--JAPAN L.P.
By:_____________________
Name: Karen C. Manson
Title: Authorized Representative
LEHMAN BROTHERS OFFSHORE INVESTMENT PARTNERSHIP L.P.
By:_____________________
Name: Karen C. Manson
Title: Authorized Representative
ldm/evergr2.13g
