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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): JUNE 18, 1997 (JUNE 17, 1997)
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OUTDOOR SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-28256 86-0736400
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2502 NORTH BLACK CANYON HIGHWAY, PHOENIX, ARIZONA 85009
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (602) 246-9569
NOT APPLICABLE
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On June 17, 1997, the Registrant issued the press release filed as
Exhibit 99.1 hereto and is incorporated by reference herein.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
99.1. Press Release issued on June 17, 1997.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
June 18, 1997
OUTDOOR SYSTEMS, INC.
By: /s/ BILL M. BEVERAGE
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Bill M. Beverage
Chief Financial Officer,
Treasurer and Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued on June 17, 1997
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[OUTDOOR SYSTEMS ADVERTISING LOGO]
PHOENIX (June 17, 1997) - Outdoor Systems, Inc. (OSIA) announced today
the private placement of $500 million aggregate principal amount of 8 7/8%
Senior Subordinated Notes due 2007 to certain qualified institutional buyers.
The Notes, which are unsecured obligations of the Company guaranteed by its
domestic subsidiaries, were priced at 99.184%. The closing of the offering will
occur on June 23, 1997.
The net proceeds from the sale of the Notes will be used to pay a
portion of the purchase price for the previously announced acquisition of 3M's
outdoor advertising operations.
The Notes have not been registered under the Securities Act of 1933 or
any state securities laws and may not be offered or sold in the United States
absent registration under the Securities Act and any applicable state securities
laws or exemptions from such registration requirements.
Outdoor Systems, Inc., which was founded in 1980, is the largest
out-of-home media company in the United States and Canada, operating poster,
bulletin, transit shelters and subway displays, Outdoor Systems' Common Stock is
traded on the NASDAQ National Market under the symbol: OSIA.
