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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 5)*
Harmony Holdings, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
41322310
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(CUSIP Number)
Avron L. Gordon, Esq.
Brett D. Anderson, Esq.
Briggs and Morgan, P.A.
2400 IDS Center
Minneapolis, MN 55402
(612) 334-8400
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 17, 1998
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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(e), 13d-1(f) or 13d-1(g), check the following box
/ /.
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*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 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 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).
(Continued on following pages)
(Page 1 of 4 Pages)
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CUSIP No. 41322310 13D Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Children's Broadcasting Corporation
41-1663712
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX 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
Minnesota
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7 SOLE VOTING POWER
NUMBER OF 3,188,731
SHARES ------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
3,188,731
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,188,731
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.1%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Children's Broadcasting Corporation (the "Company") hereby amends its
statement on Schedule 13D (the "Schedule 13D") originally filed on July 31,
1997, and amended on September 23, 1997, September 30, 1997, October 1, 1997 and
July 2, 1998, with respect to its beneficial ownership of shares of common
stock, par value $0.01 per share ("Common Stock"), of Harmony Holdings, Inc., a
Delaware corporation ("Harmony").
Item 4 of the Schedule 13D is hereby amended and restated to read as
follows:
Item 4: Purpose of Transaction.
The Company performed the Option Exercise and the Share Purchase to
increase the Company's investment in Harmony. The Company reserves the
right to purchase additional shares of Common Stock, on the open market
or through direct purchases from Harmony, if it deems such action to be
in its best interest.
The Company intends, directly and through Harmony, to redeploy its
resources following the planned sale of its radio stations to further
expand its television commercial production business and holdings through
acquisitions and the hiring of creative talent. Such acquisitions could
potentially involve an extraordinary corporate transaction, such as a
merger between the Company and Harmony. As of the date hereof, the Company
does not have any understandings, commitments, agreements or plans with
respect to any such acquisitions.
Other than the information disclosed above, the Company does not presently
have plans or proposals which relate to, or would result in, any of the
matters listed in Paragraphs (a) through (j) of Item 4 of Schedule 13D.
(Page 3 of 4 Pages)
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SIGNATURE
After reasonable inquiring 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: July 17, 1998
CHILDREN'S BROADCASTING CORPORATION
By: /s/ Christopher T. Dahl
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Christopher T. Dahl
Chairman of the Board of Directors, President and
Chief Executive Officer
(Page 4 of 4 Pages)
