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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13d
(RULE 13D-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
Nextel Communications, Inc.
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(Name of Issuer)
Class A Common Stock
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(Title of Class of Securities)
65332V 103
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(CUSIP Number)
C. James Judson, Digital Radio, L.L.C.,
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2300 Carillon Point, Kirkland, WA 98033
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 3, 1997
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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. / /
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CUSIP No. 13D Page 2
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- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
CRAIG O. MCCAW
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
BK
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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
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Number of Shares (7) Sole Voting
Beneficially Owned Power 94,483,723
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power -0-
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(9) Sole Dispositive
Power 94,483,723
--------------------------------------------------
(10) Shared Dispositive
Power -0-
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
94,483,723
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
30.5%
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(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 13D Page 3
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
DIGITAL RADIO, L.L.C.
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
BK
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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
STATE OF WASHINGTON
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Number of Shares (7) Sole Voting
Beneficially Owned Power 67,083,723
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power -0-
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(9) Sole Dispositive
Power 67,083,723
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(10) Shared Dispositive
Power -0-
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
67,083,723
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
23.6%
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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. 13D Page 4
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
EAGLE RIVER INVESTMENTS, L.L.C.
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
BK
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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
STATE OF WASHINGTON
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Number of Shares (7) Sole Voting
Beneficially Owned Power 67,083,723
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power -0-
--------------------------------------------------
(9) Sole Dispositive
Power 67,083,723
--------------------------------------------------
(10) Shared Dispositive
Power -0-
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
67,083,723
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
23.6%
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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. 13D Page 5
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
OPTION ACQUISITION, L.L.C.
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Source of Funds*
BK
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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
STATE OF WASHINGTON
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Number of Shares (7) Sole Voting
Beneficially Owned Power 25,000,000
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power -0-
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(9) Sole Dispositive
Power 25,000,000
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(10) Shared Dispositive
Power -0-
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
25,000,000
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
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(13) Percent of Class Represented by Amount in Row (11)
9.4%
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(14) Type of Reporting Person*
00
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*SEE INSTRUCTION BEFORE FILLING OUT!
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ITEM 1. SECURITY AND ISSUER
This amended statement relates to the Class A Common Stock, par value
$.001 per share ("Nextel Common Stock"), of Nextel Communications, Inc., a
Delaware corporation ("Nextel"). The principal executive offices of Nextel
are located at 1505 Farm Credit Drive, Suite 100, McLean, Virginia 22102.
Capitalized terms which are not defined in this amended statement have the
meanings defined in the original statement filed on August 7, 1995.
ITEM 2. IDENTITY AND BACKGROUND
(a),(b),(c) The persons filing this statement are:
(1) Digital Radio, L.L.C., is a limited liability company formed under the
laws of the State of Washington ("Digital"). Digital is the direct owner of a
portion of the securities of Nextel which are the subject of this statement.
The principal business of Digital is to invest in stock, options, securities,
notes, debentures, bonds of, and other business opportunities associated with,
Nextel. Eagle River Investments, L.L.C. has the exclusive management and
control of Digital under the terms of its Limited Liability Company Agreement.
The address for Digital's principal business and principal office is 2300
Carillon Point, Kirkland, Washington 98033.
(2) Option Acquisition, L.L.C., is a limited liability company formed
under the laws of the State of Washington ("Option Acquisition"). Option
Acquisition is the direct holder of certain options to acquire the securities
which are the subject of this statement and was formed for the sole purpose of
holding those options. COM Management, Inc. has the exclusive management and
control of Option Acquisition under the terms of its Limited Liability Company
Agreement. The address for Option Acquisition's principal business and
principal office is 2300 Carillon Point, Kirkland, Washington, 98033.
(3) Eagle River Investments, L.L.C., is a limited liability company formed
under the laws of the State of Washington("Eagle River"). The principal
business of Eagle River is to build equity value for each of its members by
acquiring, investing, holding, dealing and disposing of securities, venture
opportunities or other investments. The address of Eagle River's principal
business and principal office is 2300 Carillon Point, Kirkland, Washington
98033.
(4) Craig O. McCaw, an individual ("Mr. McCaw"), is the controlling
stockholder and director of Eagle River, Inc., and, as a result, has voting
and management control of Eagle River Investments, L.L.C., which in turn has
voting and management control of Digital. He is also the controlling
stockholder and director of COM Management, Inc. and, as a result, also has
voting and management control of Option Acquisition. Mr. McCaw's present
principal occupation is serving as Chairman of Digital and of Eagle River.
In addition, Mr. McCaw serves as Chairman of Eagle River, Inc., which also
provides management and consulting services to Nextel's senior management and
Board of Directors. Mr. McCaw's business address is 2300 Carillon Point,
Kirkland, Washington 98033.
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The executive officers of Digital, Option Acquisition and Eagle River are
as follows: Craig O. McCaw, Chairman; Dennis Weibling, President/Treasurer;
William A. Hoglund, Vice President and Chief Financial Officer; and C. James
Judson, Vice President, Secretary and General Counsel. Each of Mr. Weibling,
Mr. Hoglund and Mr. Judson serves in the foregoing capacities as his present
principal occupation. The business address of each of Mr. McCaw, Mr. Weibling,
Mr. Hoglund and Mr. Judson is 2300 Carillon Point, Kirkland, Washington 98033.
(d),(e) During the past five years, none of Digital, Option Acquisition,
Eagle River, Mr. McCaw or the other above-named executive officers of Digital
and Eagle River has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or has been a party to a civil proceeding of
a judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws.
(f) Mr. McCaw, Mr. Weibling, Mr. Hoglund and Mr. Judson are all citizens
of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION
Digital borrowed the funds to acquire the securities which are the
subject of this amended statement pursuant to the Amended and Restated
Multibank Credit Agreement dated as of July 28, 1997 by and among Digital,
the Banks signatories thereto and The Chase Manhattan Bank (the "Amended
Credit Agreement"), a copy of which is attached as EXHIBIT 11 to the
first amendment to this statement filed on August 15, 1997. As of September
3, 1997, loans to Digital in the aggregate amount of $588,500,000 pursuant to
the Amended Credit Agreement were outstanding. A portion of those loan
proceeds were used to finance the acquisition of additional Nextel
securities, as more fully described in Item 4 below.
ITEM 4. PURPOSE OF TRANSACTION
ACQUISITION OF NEXTEL COMMON STOCK. Digital acquired 2 million shares of
Nextel Common Stock which are the subject of this amended statement by
exercising the first tranche of the three separate options constituting the
Motorola Options at a price of $15.50 per share, or an aggregate purchase
price of $31,000,000. See EXHIBIT 9 to the original statement filed on
August 9, 1995.
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ITEM 5. INTEREST IN SECURITIES OF ISSUER
(a) The aggregate number of shares of Nextel Common Stock beneficially
owned by each reporting person covered by this amended statement is as follows:
Name Number of Shares(1) Percentage
---- ---------------- ----------
Digital Radio, L.L.C. 67,083,723(2) 23.6%
Eagle River Investments, L.L.C. 67,083,723(3) 23.6%
Option Acquisition, L.L.C. 25,000,000(4) 9.4%
Craig O. McCaw 94,483,723(5) 30.5%
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(1) Based on 239,991,757 shares of Nextel Common Stock shares outstanding
on August 1, 1997 as reported on Nextel's Form 10-Q for the quarter
ended June 30, 1997.
(2) Includes (i) 22,593,846 shares of Nextel Common Stock owned by
Digital, (ii) 24,489,795 shares of Nextel Common Stock upon the
complete conversion of 8,163,265 shares of Class A Preferred Stock,
(iii) 82 shares of Nextel Common Stock upon the complete
conversion of 82 shares of Class B Preferred Stock, and (iv)
20,000,000 shares of Nextel Common Stock upon complete exercise of
the remaining Nextel Options.
(3) Includes (i) 22,593,846 shares of Nextel Common Stock owned by
Digital, (ii) 24,489,795 shares of Nextel Common Stock upon the
complete conversion of 8,163,265 shares of Class A Preferred Stock
owned by Digital, (iii) 82 shares of Nextel Common Stock upon the
complete conversion of 82 shares of Class B Preferred Stock owned by
Digital, and (iv) 20,000,000 shares of Nextel Common Stock upon
complete exercise of the remaining Nextel Options owned by Digital.
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(4) Includes 25,000,000 shares of Nextel Common Stock upon
complete exercise of the New Options owned by Option Acquisition.
(5) Includes (a)(i) 22,593,846 shares of Nextel Common Stock owned by
Digital, (ii) 24,489,795 shares of Nextel Common Stock upon the
complete conversion of 8,163,265 shares of Class A Preferred Stock
owned by Digital, (iii) 82 shares of Nextel Common Stock upon the
complete conversion of 82 shares of Class B Preferred Stock owned by
Digital, (iv) 20,000,000 shares of Nextel Common Stock upon complete
exercise of the remaining Nextel Options owned by Digital, (v)
25,000,000 shares of Nextel Common Stock upon complete exercise of the
New Options owned by Option Acquisition; and (vi) 400,000 shares of
Nextel Common Stock upon complete exercise of options held by Eagle
River, Inc. which became exercisable on April 4, 1997.
(b) Pursuant to the terms of the Limited Liability Company Agreements
of both Digital and Option Acquisition, the exclusive management and control,
and all decisions regarding the management and affairs, of both Digital and
Option Acquisition (including in each case investment decisions) are vested
with Eagle River and COM Management, Inc., respectively. Mr. McCaw is the
primary member of, and holder of the majority interest in, Eagle River and is
the primary stockholder and director of COM Management, Inc. As a result, he
has the voting and management control (including with respect to investment
decisions) of Digital and Option Acquisition.
(c) None.
(d) None.
(e) N/A.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF ISSUER
In connection with the September 3, 1997 loans pursuant to the Amended
Credit Agreement, and as a condition to making such loans, Digital was required
to pledge to the Agent, for the benefit of the Banks, as security for the
payment of Digital's obligations thereunder, the 2 million shares of Nextel
Common Stock acquired by Digital on September 3, 1997. As a result of this
additional pledge, a total of 22,220,000 shares of Nextel Common Stock and
8,163,265 shares of Class A Preferred Stock have been pledged by Digital.
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
N/A
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.
DIGITAL RADIO, L.L.C.
Dated: September 25, 1997 /s/ C. James Judson
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C. James Judson
Vice President, General Counsel and Secretary
Authorized Representative for
Eagle River Investments, L.L.C.
Authorized Representative for
Option Acquisition, L.L.C.
Authorized Representative for
Craig O. McCaw
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