<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Source Media
------------
(Name of Issuer)
Common Stock
------------
(Title of Class of Securities)
836153304
---------
(CUSIP Number)
December 31, 1998
-----------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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).
Page 1 of 4 Pages
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- --------------------------------- ---------------------
CUSIP No. 836153304 13G Page 2 of 4 Pages
- --------------------------------- ---------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pecks Management Partners Ltd. 11-3015963
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [ ]
(b) [ ]
Not applicable
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
780,010
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY Not applicable
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 780,010
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
Not applicable
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
780,010
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
[ ]
Not applicable
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.90
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
- ---------- ---------------------------------------------------------------------
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Item 1(a): Name of Issuer:
- ---------- ---------------
Source Media, Inc.
Item 1(b): Address of Issuer's Principal Executive Offices:
- ---------- ------------------------------------------------
8140 Walnut Hill Lane
Suite 1000
Dallas, TX 75231
Item 2(a) Name of Person Filing
- --------- ---------------------
Pecks Management Partners Ltd.
Item 2(b): Address of Principal Business Office:
- ---------- -------------------------------------
One Rockefeller Plaza, Suite 900, New York, New York
10020
Item 2(c): Citizenship:
- ---------- ------------
New York
Item 2(d): Title of Class of Securities:
- ---------- -----------------------------
Common Stock
Item 2(e): CUSIP Number:
- ---------- -------------
836153304
Item 3: If the reporting person is an investment adviser
- ------- in accordance with ss. 240.13d-1(b)(1)(ii)(E),
check this box. [X]
Item 4: Ownership:
- ------- ----------
(a) Amount beneficially owned: 780, 010 shares
(b) Percent of class: 5.9%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the
vote: 780,010
(ii) Shared power to vote or to direct the
vote: none
(iii) Sole power to dispose or to direct the
disposition of: 780,010
(iv) Shared power to dispose or to direct
the disposition of: none
Item 5: Ownership of Five Percent or Less of a Class:
- ------- ---------------------------------------------
If this statement is being filed to report the
fact that as of the date hereof the reporting
person has ceased to be the beneficial owner of
more than five percent of the class of securities,
check the following [ ]
Page 3 of 4 Pages
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Item 6: Ownership of More than Five Percent on Behalf of
- ------- ------------------------------------------------
Another Person:
---------------
Shares as to which this schedule is filed are
owned by four investment advisory clients of the
person filing this schedule, which clients receive
dividends and the proceeds from the sale of such
shares. No one client is known to have such
interest with respect to more than 5% of the
class.
Item 7: Identification and Classification of the
- ------- ----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
------------------------------------------
Not applicable.
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 purpose or effect.
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.
Dated: February 9, 1999
By: /s/ Arthur W. Berry
-------------------------
Name: Arthur W. Berry
Title: Managing Director
Page 4 of 4 Pages
