<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 2)
CHANCELLOR MEDIA CORPORATION
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
158915 10 8
- --------------------------------------------------------------------------------
(CUSIP Number)
Thomas O. Hicks
200 Crescent Court, Suite 1600
Dallas, Texas 75201
(214) 740-7300
- --------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
August 31, 1998; September 15, 1998
- --------------------------------------------------------------------------------
(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), (f) or (g), check the following box [ ].
(Continued on following pages)
Page 1
<PAGE> 2
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 2
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mr. Thomas O. Hicks
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 1,625,705
SHARES ----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 15,318,666
REPORTING ----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
1,625,705
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,318,666
----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,944,371
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
11.9%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 3
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 3
- --------------------- ---------------------
<TABLE>
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HM2/Chancellor, L.P.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 13,127,402
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,127,402
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,127,402
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
9.2%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 4
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 4
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HM2/Chancellor GP, L.P.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 13,127,402
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,127,402
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,127,402
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
9.2%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 5
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 5
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HM2/Chancellor Holdings, Inc.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 13,127,402
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,127,402
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,127,402
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
9.2%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 6
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 6
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HM2/HMW, L.P.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,155,514
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,155,514
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,155,514
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.5%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 7
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 7
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hicks, Muse, Tate & Furst Equity Fund II, L.P.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,170,448
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,170,448
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,170,448
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.5%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 8
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 8
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HM2/GP Partners, L.P.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,170,448
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,170,448
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,170,448
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.5%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 9
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 9
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hicks, Muse GP Partners, L.P.
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,170,448
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,170,448
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,170,448
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.5%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 10
- --------------------- ---------------------
CUSIP No. 158915 10 8 13D Page 10
- --------------------- ---------------------
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hicks, Muse Fund II Incorporated
- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
[ ]
- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 2,170,448
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,170,448
- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,170,448
- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
1.5%
- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------------------------------------------------
</TABLE>
* THE REPORTING PERSON EXPRESSLY DISCLAIMS (I) THE EXISTENCE OF ANY GROUP AND
(II) BENEFICIAL OWNERSHIP WITH RESPECT TO ANY SHARES OTHER THAN THE SHARES OWNED
OF RECORD BY SUCH REPORTING PERSON. SEE ITEM 5.
<PAGE> 11
This Amendment No. 2 to Schedule 13D amends and supplements the
Statement on Schedule 13D initially filed with the Securities and Exchange
Commission (the "SEC") on or about September 15, 1997 (the "Schedule 13D"), as
amended by Amendment No. 1 filed on March 24, 1998, by Thomas O. Hicks,
HM2/Chancellor, L.P., HM2/Chancellor GP, L.P., HM2/Chancellor Holdings, Inc.,
HM2/HMW, L.P., Hicks, Muse, Tate & Furst Equity Fund II, L.P., HM2/GP Partners,
L.P., Hicks, Muse GP Partners, L.P., and Hicks, Muse Fund II Incorporated
(collectively, the "Filing Parties"), with respect to the Common Stock, $0.01
par value, of Chancellor Media Corporation (the "Company"). Unless otherwise
indicated, capitalized terms used herein shall have the respective meanings
given such terms in the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
On August 31, 1998, Thomas O. Hicks purchased an aggregate of 250,000
shares of the Common Stock, $0.01 par value ("Common Stock"), of Chancellor
Media Corporation (the "Company"), in the following transactions:
<TABLE>
<CAPTION>
No. of Price
Shares Per Share
------ ---------
<S> <C>
50,000 $37 3/4
75,000 $37 7/8
75,000 $37 5/8
25,000 $37 1/2
25,000 $37 3/8
</TABLE>
On September 8, 1998, Mr. Hicks purchased an aggregate of 100,000
shares of Common Stock of the Company in the following transactions:
<TABLE>
<CAPTION>
No. of Price
Shares Per Share
------ ---------
<S> <C>
25,000 $33 5/8
12,500 $33 5/8
22,500 $33 3/4
25,000 $33 13/16
15,000 $33 7/8
</TABLE>
On September 10, 1998, Mr. Hicks purchased an aggregate of 100,000
shares of Common Stock of the Company in the following transactions:
<TABLE>
<CAPTION>
No. of Price
Shares Per Share
------ ---------
<S> <C>
10,000 $29 1/2
10,000 $29 1/4
10,000 $29
10,000 $28 5/8
10,000 $28 3/8
5,000 $27 5/8
5,000 $26 7/8
5,000 $26 1/8
5,000 $25 3/8
20,000 $25 1/4
10,000 $26 1/8
</TABLE>
On September 14, 1998, Mr. Hicks purchased an aggregate of 50,000
shares of Common Stock of the Company in the following transactions:
<TABLE>
<CAPTION>
No. of Price
Shares Per Share
------ ---------
<S> <C>
5,000 $25 5/8
5,000 $25 3/4
5,000 $25 7/8
25,000 $26
10,000 $26 1/8
</TABLE>
All of the purchases described in this Item 3 were effected by Mr.
Hicks for his own account on The Nasdaq Stock Market's National Market in
brokers' transactions.
Payment for all purchased shares will be made with Mr. Hicks' personal
funds and investment capital.
ITEM 4. PURPOSE OF TRANSACTION
The shares of Common Stock purchased by Mr. Hicks described in Item 3
to this Amendment No. 2 to Schedule 13D were purchased for investment purposes.
Mr. Hicks is the Chairman of the Board of the Company and, through the
relationships described in Item 5
Page 11
<PAGE> 12
hereof, may be deemed to beneficially own approximately 11.9% of the
outstanding shares of Common Stock of the Company.
On September 15, 1998, Hicks, Muse, Tate & Furst Incorporated, an
affiliate of the Filing Parties, announced that certain affiliates of the Filing
Parties may purchase up to $100 million in additional shares of Common Stock of
the Company in open market transactions commencing immediately. The timing of
any such purchases, the duration of the purchase period and the actual number of
shares to be purchased will depend on market conditions.
In addition to the foregoing, the Company has recently announced
agreements relating to the merger of Ranger Equity Holdings Corporation
(indirect parent to LIN Television Corporation) ("LIN") with the Company, and
the merger of the Company with a subsidiary of Capstar Broadcasting Corporation
("Capstar"). Certain of the Filing Parties and their affiliates own
substantial equity interests in each of LIN and Capstar. Assuming the
consummation of these merger transactions, certain of the Filing Parties and
their affiliates will receive additional shares of Common Stock of the ultimate
successor to the Company. Each of the LIN and Capstar transactions are subject
to various conditions, including regulatory and stockholder approvals and,
accordingly, there can be no assurances that such transactions will be
consummated.
ITEM 5. INTEREST IN SECURITIES OF ISSUER
(a)
(1) Following the transactions described in Item 3, Mr.
Hicks may be deemed to beneficially own in the aggregate 16,944,371
shares of the Common Stock of the Company, representing approximately
11.9% of the outstanding shares of Common Stock. Of such shares, Mr.
Hicks has sole voting and dispositive power with respect to 1,625,705
shares, and shared voting and dispositive power with respect to
15,318,666 shares as a result of the relationships described in
paragraph (b)(1) below.
(2) HM2/Chancellor may be deemed to beneficially own in
the aggregate 13,127,402 shares of the Common Stock of the Company,
representing approximately 9.2% of the outstanding shares of Common
Stock. Of such shares, HM2/Chancellor has sole voting and dispositive
power with respect to no shares, and shared voting and dispositive
power with respect to 13,127,402 shares as a result of the
relationships described in paragraph (b)(2) below.
(3) HM2/Chancellor GP may be deemed to beneficially own
in the aggregate 13,127,402 shares of the Common Stock of the Company,
representing approximately 9.2% of the outstanding shares of Common
Stock. Of such shares, HM2/Chancellor GP has sole voting and
dispositive power with
Page 12
<PAGE> 13
respect to no shares, and shared voting and dispositive power with
respect to 13,127,402 shares as a result of the relationships
described in paragraph (b)(3) below.
(4) HM2/Chancellor Holdings may be deemed to beneficially
own in the aggregate 13,127,402 shares of the Common Stock of the
Company, representing approximately 9.2% of the outstanding shares of
Common Stock. Of such shares, HM2/Chancellor Holdings has sole voting
and dispositive power with respect to no shares, and shared voting and
dispositive power with respect to 13,127,402 shares as a result of the
relationships described in paragraph (b)(4) below.
(5) HM2/HMW may be deemed to beneficially own in the
aggregate 2,155,514 shares of the Common Stock of the Company,
representing approximately 1.5% of the outstanding shares of Common
Stock. Of such shares, HM2/HMW has sole voting and dispositive power
with respect to no shares, and shared voting and dispositive power
with respect to 2,155,514 shares as a result of the relationships
described in paragraph (b)(5) below.
(6) HM Fund II may be deemed to beneficially own in the
aggregate 2,170,448 shares of the Common Stock of the Company,
representing approximately 1.5% of the outstanding shares of Common
Stock. Of such shares, HM Fund II has sole voting and dispositive
power with respect to no shares, and shared voting and dispositive
power with respect to 2,170,448 shares as a result of the
relationships described in paragraph (b)(6) below.
(7) [Intentionally omitted.]
(8) HM2/GP Partners may be deemed to beneficially own in
the aggregate 2,170,448 shares of the Common Stock of the Company,
representing approximately 1.5% of the outstanding shares of Common
Stock. Of such shares, HM2/GP Partners has sole voting and
dispositive power with respect to no shares, and shared voting and
dispositive power with respect to 2,170,448 shares as a result of the
relationships described in paragraph (b)(8) below.
(9) Hicks Muse Partners may be deemed to beneficially own
in the aggregate 2,170,448 shares of the Common Stock of the Company,
representing approximately 1.5% of the outstanding shares of Common
Stock. Of such shares, Hicks Muse Partners has sole voting and
dispositive power with respect to no shares, and shared voting and
dispositive power with respect to 2,170,448 shares as a result of the
relationships described in paragraph (b)(9) below.
(10) Fund II Incorporated may be deemed to beneficially
own in the aggregate 2,170,448 shares of the Common Stock of the
Company, representing approximately 1.5% of the
Page 13
<PAGE> 14
outstanding shares of Common Stock. Of such shares, Fund II
Incorporated has sole voting and dispositive power with respect to no
shares, and shared voting and dispositive power with respect to
2,170,448 shares as a result of the relationships described in
paragraph (b)(10) below.
(b)
(1) Of the 1,625,705 shares of Common Stock for which Mr.
Hicks has sole voting and dispositive power, 1,278,969 shares are held
of record by Mr. Hicks, and 346,736 shares are held of record by Mr.
Hicks as the trustee of certain trusts for the benefit of Mr. Hicks'
children. Of the 15,318,666 shares of Common Stock for which Mr.
Hicks has shared voting and dispositive power, 20,816 shares are owned
by Mr. Hicks of record as the co-trustee of a trust for the benefit of
unrelated parties, and 15,297,850 of such shares are owned of record
by the following entities as follows: 13,127,402 shares of Common
Stock are owned of record by HM2/Chancellor; 2,155,514 shares of
Common Stock are owned of record by HM2/HMW; and 14,934 shares of
Common Stock are owned of record by HM Fund II.
HM2/Chancellor GP is the general partner of HM2/Chancellor
and, therefore, may be deemed to be the beneficial owner of the shares
of Common Stock owned of record by HM2/Chancellor. HM2/Chancellor
Holdings is the general partner of HM2/Chancellor GP and, therefore,
may be deemed to be the beneficial owner of the shares beneficially
owned by HM2/Chancellor GP. Mr. Hicks is the sole director and owns
all of the outstanding shares of capital stock of HM2/Chancellor
Holdings and, therefore, may be deemed to be the beneficial owner of
the shares of Common Stock beneficially owned by HM2/Chancellor
Holdings.
HM Fund II is the general partner of HM2/HMW and, therefore,
may be deemed to be the beneficial owner of the shares held of record
by HM2/HMW. HM2/GP Partners is the general partner of HM Fund II and,
therefore, may be deemed to be the beneficial owner of the shares held
of record and beneficially owned by HM Fund II. Hicks Muse Partners
is the general partner of HM2/GP Partners and, therefore, may be
deemed to be the beneficial owner of the shares beneficially owned by
HM2/GP Partners. Fund II Incorporated is the general partner of Hicks
Muse Partners and, therefore, may be deemed to be the beneficial owner
of the shares beneficially owned by Hicks Muse Partners. Mr. Hicks is
the controlling stockholder, Chairman of the Board, Chief Executive
Officer and Secretary of Fund II Incorporated and, therefore, may be
deemed to beneficially own all or a portion of the shares of Common
Stock beneficially owned by Fund II Incorporated.
(2) Of the 13,127,402 shares of Common Stock for which
HM2/Chancellor has shared voting and dispositive power,
Page 14
<PAGE> 15
13,127,402 of such shares are held of record by HM2/Chancellor.
(3) Of the 13,127,402 shares of Common Stock for which
HM2/Chancellor GP has shared voting and dispositive power, none of
such shares are held of record by HM2/Chancellor GP, and 13,127,402 of
such shares are held of record by HM2/Chancellor. HM2/Chancellor GP
is the general partner of HM2/Chancellor and, therefore, may be deemed
to be the beneficial owner of the shares owned of record by
HM2/Chancellor.
(4) Of the 13,127,402 shares of Common Stock for which
HM2/Chancellor Holdings has shared voting and dispositive power, none
of such shares are held of record by HM2/Chancellor Holdings, and
13,127,402 of such shares may be beneficially owned by HM2/Chancellor
GP. HM2/Chancellor Holdings is the general partner of HM2/Chancellor
GP and, therefore, may be deemed to be the beneficial owner of the
shares beneficially owned by HM2/Chancellor GP.
(5) Of the 2,155,514 shares of Common Stock for which
HM2/HMW has shared voting and dispositive power, 2,155,514 of such
shares are held of record by HM2/HMW.
(6) Of the 2,170,448 shares of Common Stock for which HM
Fund II has shared voting and dispositive power, 14,934 of such shares
are held of record by HM Fund II, and 2,155,514 of such shares are
held of record by HM2/HMW. HM Fund II is the general partner of
HM2/HMW and, therefore, may be deemed to be the beneficial owner of
the shares held of record by HM2/HMW.
(7) [Intentionally omitted.]
(8) Of the 2,170,448 shares of Common Stock for which
HM2/GP Partners has shared voting and dispositive power, none of such
shares are held of record by HM2/GP Partners, and 2,170,448 of such
shares are held of record and beneficially by HM Fund II. HM2/GP
Partners is the general partner of HM Fund II and, therefore, may be
deemed to be the beneficial owner of the shares held of record and
beneficially owned by HM Fund II.
(9) Of the 2,170,448 shares of Common Stock for which
Hicks Muse Partners has shared voting and dispositive power, none of
such shares are held of record by Hicks Muse Partners, and 2,170,448
of such shares are beneficially owned by HM2/GP Partners. Hicks Muse
Partners is the general partner of HM2/GP Partners and, therefore, may
be deemed to be the beneficial owner of the shares beneficially owned
by HM2/GP Partners.
(10) Of the 2,170,448 shares of Common Stock for which
Fund II Incorporated has shared voting and dispositive
Page 15
<PAGE> 16
power, none of such shares are held of record by Fund II Incorporated,
and 2,170,448 of such shares may be beneficially owned by Hicks Muse
Partners. Fund II Incorporated is the general partner of Hicks Muse
Partners and, therefore, may be deemed to be the beneficial owner of
the shares beneficially owned by Hicks Muse Partners.
Each of the Filing Parties expressly disclaims (i) the existence of
any group and (ii) beneficial ownership with respect to any shares of Common
Stock covered by this Schedule 13D not owned by him or it of record.
(c) See Item 3.
(d) The right to receive dividends on, and proceeds from the sale
of, the shares of Common Stock held of record by HM2/Chancellor, HM2/HMW, and
HM Fund II described in paragraphs (a) and (b) above is governed by the limited
partnership agreements of each of such entities, and such dividends or proceeds
may be distributed with respect to numerous general and limited partnership
interests.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
(a) Press Release of Chancellor Media Corporation dated September
15, 1998.
Page 16
<PAGE> 17
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.
September 15, 1998 By: *
- --------------------- --------------------------------------------------
Date Name: Thomas O. Hicks
*By: /s/ DAVID W. KNICKEL
-------------------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 17
<PAGE> 18
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.
September 15, 1998 HICKS, MUSE FUND II INCORPORATED
- ---------------------
Date
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: Chairman and Chief
Executive Officer
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 18
<PAGE> 19
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.
September 15, 1998 HICKS, MUSE GP PARTNERS, L.P.
- ---------------------
Date
By: HICKS, MUSE FUND II INCORPORATED,
its general partner
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: Chairman and Chief
Executive Officer
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 19
<PAGE> 20
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.
September 15, 1998 HM2/GP PARTNERS, L.P.
- --------------------
Date
By: HICKS, MUSE GP PARTNERS, L.P., its general
partner
By: HICKS, MUSE FUND II INCORPORATED, its general
partner
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: Chairman and Chief
Executive Officer
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 20
<PAGE> 21
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.
September 15, 1998 HICKS, MUSE, TATE & FURST EQUITY
- --------------------- FUND II, L.P.
Date
By: HM2/GP PARTNERS, L.P., its general partner
By: HICKS, MUSE GP PARTNERS, L.P., its general
partner
By: HICKS, MUSE FUND II INCORPORATED, its general
partner
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: Chairman and Chief
Executive Officer
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 21
<PAGE> 22
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.
September 15, 1998 HM2/HMW, L.P.
- ---------------------
Date
By: HICKS, MUSE, TATE & FURST EQUITY FUND II,
L.P., its general partner
By: HM2/GP PARTNERS, L.P., its general partner
By: HICKS, MUSE GP PARTNERS, its general partner
By: HICKS, MUSE FUND II INCORPORATED, its
general partner
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: Chairman and Chief
Executive Officer
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 22
<PAGE> 23
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.
September 15, 1998 HM2/CHANCELLOR, L.P.
- ---------------------
Date
By: HM2/CHANCELLOR GP, L.P., its general partner
By: HM2/CHANCELLOR HOLDINGS, INC., its general
partner
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: President
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 23
<PAGE> 24
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.
September 15, 1998 HM2/CHANCELLOR GP, L.P.
- ---------------------
Date
By: HM2/CHANCELLOR HOLDINGS, INC., its general
partner
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: President
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 24
<PAGE> 25
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.
September 15, 1998 HM2/CHANCELLOR HOLDINGS, INC.
- ---------------------
Date
By: *
-----------------------------------------
Name: Thomas O. Hicks
Title: President
*By: /s/ DAVID W. KNICKEL
-----------------------------------------
David W. Knickel,
Attorney-in-Fact
Page 25
<PAGE> 26
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Name of Exhibit Page No.
--------------- --------
<S> <C> <C>
(a) Press Release of Chancellor Media
Corporation dated September 15, 1998. 27
</TABLE>
<PAGE> 1
EXHIBIT (a)
[CHANCELLOR MEDIA CORPORATION LOGO]
NEWS ANNOUNCEMENT
HICKS, MUSE, TATE & FURST AFFILIATES AUTHORIZE THE PURCHASE
OF UP TO $100 MILLION OF ADDITIONAL CHANCELLOR MEDIA SHARES
Dallas, Texas, September 15, 1998 - Chancellor Media Corporation (NASDAQ:AMFM)
announced today that it has been informed by Hicks, Muse, Tate & Furst
Incorporated, its largest shareholder, that certain Hicks Muse affiliates may
purchase up to $100 million of Chancellor Common Stock in open market
transactions commencing immediately. According to Hicks Muse, the timing of any
such purchases, the duration of the purchase period and the actual number of
shares to be purchased will depend on market conditions.
Chancellor Media Corporation is a diversified media company to consist of the
Chancellor Radio Group, Chancellor Outdoor Group, Chancellor Television Group
and Katz Media, a leading media representation firm, pending completion of
previously announced transactions.
CONTACT:
Matthew E. Devine
Chief Financial Officer
Chancellor Media Corporation
214/922-8700
Joseph N. Jaffoni Roy Winnick
David C. Collins Mark Semer
Jaffoni & Collins Incorporated Kekst and Company
212/835-8500; [email protected] 212/521-4842/4802
###
