UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Multi-Market Radio, Inc.
(Name of Issuer)
Common Stock
(Title of Class Securities)
625432109
(Cusip Number)
Mr. Gideon J. King
c/o Loeb Partners Corporation
61 Broadway, N.Y., N.Y., 10006 (212) 483-7023
(Name, address and Telephone Number of Person Authorized to Receive Notices
and Communications)
October 29, 1996
(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 [ ].
Check the following box if a fee is being paid with statement [ ]. (A fee is not
required only if the following reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described is Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class).
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
*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
disclosures provided in a prior cover page.
The information required on the remained 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>
SCHEDULE 13D
CUSIP NO. 625432109
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Partners Corporation - I.D. #13-3114801
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC,O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES 5,744 Shares assuming exercise of warrants
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 17,215 Shares assuming exercise of warrants
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 5,744 Shares assuming exercise of warrants
PERSON 10 SHARED DISPOSITIVE POWER
WITH 17,215 Shares assuming exercise of warrants
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,959 Shares assuming exercise of warrants
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.71%
14 TYPE OF REPORTING PERSON
CO BD IA
<PAGE>
SCHEDULE 13D
CUSIP NO. 625432109
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Arbitrage Fund - I.D. #13-3269989
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC,O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
NUMBER OF 7 SOLE VOTING POWER
SHARES 266,891 Shares assuming exercise of warrants
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY ----
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 266,891 Shares assuming exercise of warrants
PERSON 10 SHARED DISPOSITIVE POWER
WITH ----
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
266,891 Shares assuming exercise of warrants
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.18%
14 TYPE OF REPORTING PERSON
PN BD
<PAGE>
ITEM 1. SECURITY AND ISSUER.
Same.
ITEM 2. IDENTITY AND BACKGROUND.
Same.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER COMPENSATION.
Same.
ITEM 4. PURPOSE OF TRANSACTION.
Same.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The persons reporting hereby owned the following shares of
Common Stock as of November 5, 1996:
Shares of Common Stock
Loeb Arbitrage Fund 226,037
Loeb Partners Corporaton* 18,313
--------
244,350
This constitutes 7.49% of the 3,260,000 outstanding shares as reported
by the Issuer.
Other persons reporting hereby as of October 29, 1996 owned warrants
expiring March 22, 1999 to acquire Shares of Common Stock at $7.75 per share as
follows:
Warrants
Loeb Arbitrage Fund 40,854
Loeb Partners Corporaton* 4,646
-------
45,500
Assuming exercise of these warrants the persons reporting hereby would
own 289,851 Shares of Common Stock, constituting 8.89% of the shares outstanding
on this assumption
- ----------
*Held for the accounts of two customers of Loeb Partners Corporation as to which
it has investment discretion.
(b) See paragraph (a) above.
(c) The following purchases of Common Stock and Options have been made
since July 31, 1996 the persons named below:
PURCHASE OF COMMON STOCK
Holder Date Shares Average Price
Loeb Arbitrage Fund 09/06/96 6028 $11.84
09/10/96 1716 12.26
10/29/96 12496 11.54
10/30/96 6468 11.76
10/31/96 2420 11.84
11/05/96 13056 11.23
Holder Date Shares Average Price
Loeb Partners Corporation* 09/06/96 972 $11.85
09/10/96 284 12.27
10/29/96 2004 11.54
10/30/96 1032 11.76
10/31/96 380 11.85
11/05/96 1944 11.24
PURCHASE OF WARRANTS
Holder Date Shares Average Price
Loeb Arbitrage Fund 07/31/96 20950 $3.67
Loeb Partners Corporation* 07/31/96 3350 $3.67
- -----------
*Transactions for the accounts of two customers of Loeb Partners Corporation
as to which it has investment discretion.
All reported transactions were effected on NASDAQ.
(d) and (e). Not applicable.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDING OR RELATIONSHIPS
WITH RESPECT TO THE ISSUER.
None.
ITEM 7 Materials to be filed as Exhibits.
None.
<PAGE>
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.
November 12, 1996 Loeb Arbitrage Fund
By: Loeb Arbitrage Management, Inc.
By: /s/ Arthur E. Lee
Arthur E. Lee, President
November 12, 1996 Loeb Partners Corporation
By: /s/ Arthur E. Lee
Arthur E. Lee
Executive Vice President
