SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
HB COMMUNICATIONS ACQUISITION CORP.
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(Name of Issuer)
COMMON STOCK, $0.001 PAR VALUE
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(Title of Class of Securities)
404091100
------------------
(CUSIP Number)
Copy to:
Mr. Edward Grinacoff Stephen A. Cohen, Esq.
21st Century Communications Morrison Cohen Singer
Partners, L.P. & Weinstein, LLP
767 Fifth Avenue, 45th Floor 750 Lexington Avenue
New York, New York 10153 New York, New York 10022
Telephone (212) 754-8100 Telephone (212) 735-8600
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
March 24, 1995
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(Date of Event which Requires Filing 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 space __.
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 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).
(Continued on following page(s))
- 1 of 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications Partners, L.P.
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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*
BK, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
Delaware
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7 Sole Voting Power
Number of
Shares 135,606 shares 6.4%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 64,394 shares 3.0%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
135,606 shares 6.4%
--------------------------------------------------------
10 Shared Dispositive Power
64,394 shares 3.0%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 2 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications T-E Partners, L.P.
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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*
BK, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
Delaware
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7 Sole Voting Power
Number of
Shares 46,138 shares 2.2%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 153,862 shares 7.3%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
46,138 shares 2.2%
--------------------------------------------------------
10 Shared Dispositive Power
153,862 shares 7.3%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 3 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
21st Century Communications Foreign Partners, L.P.
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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
- --------------------------------------------------------------------------------
4 Source of Funds*
BK, OO
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
Delaware
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7 Sole Voting Power
Number of
Shares 18,256 shares 0.9%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 181,744 shares 8.6%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
18,256 shares 0.9%
--------------------------------------------------------
10 Shared Dispositive Power
181,744 shares 8.6%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
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14 Type of Reporting Person*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 4 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Michael J. Marocco
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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*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
United States
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7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 5 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Lewis
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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*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
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14 Type of Reporting Person*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 6 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
John Kornreich
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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
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
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
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
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14 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 7 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Harvey Sandler
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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*
OO
- --------------------------------------------------------------------------------
5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 8 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew Sandler
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
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4 Source of Funds*
OO
- --------------------------------------------------------------------------------
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
Shares 0 shares 0%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares 0%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
200,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.4%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 9 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
- --------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Rubenstein
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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*
PF, OO
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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
Shares 7,000 shares 0.3%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
7,000 shares 0.3%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
207,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.8%
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14 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 10 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
- --------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Barry Fingerhut
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
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4 Source of Funds*
OO
- --------------------------------------------------------------------------------
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
Shares 5,000 shares 0.2%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
5,000 shares 0.2%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
205,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 11 OF 25 -
<PAGE>
SCHEDULE 13D
CUSIP No. 404091100
- --------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Irwin Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group* a. |_|
b. |_|
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
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
Shares 5,000 shares 0.2%
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 200,000 shares 9.4%
Person --------------------------------------------------------
With 9 Sole Dispositive Power
5,000 shares 0.2%
--------------------------------------------------------
10 Shared Dispositive Power
200,000 shares 9.4%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
205,000 shares
- --------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares* |_|
- --------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
9.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 12 OF 25 -
<PAGE>
This statement, dated March 24, 1995, constitutes Amendment No. 1 to the
Schedule 13D, dated March 24, 1995, regarding the reporting persons' ownership
of common stock of HB Communications Acquisition Corp. (the "Issuer").
The Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 1 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
by the reporting persons. Pursuant to Rule 13d-2, it shall restate the entire
text of the Schedule except for information which has materially changed since
the filing of the Schedule.
ITEM 1. Security and Issuer.
(a) Common Stock, $0.001 par value per share (CUSIP No.
404091100).
(b) HB Communications Acquisition Corp.
89 June Road
North Salem, New York 10562
ITEM 2. Identity and Background
1. (a) 21st Century Communications Partners, L.P., a limited partnership
organized under the laws of the State of Delaware ("21st Century").
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
Sandler Investment Partners, L.P. ("SIP") and InfoMedia Associates,
Ltd. ("InfoMedia") are the general partners of 21st Century. The limited
partners of 21st Century include certain other investors.
- 13 of 25 -
<PAGE>
2. (a) 21st Century Communications T-E Partners, L.P., a limited
partnership organized under the laws of the State of Delaware ("T-E").
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
SIP and InfoMedia are the general partners of T-E. The limited
partners of T-E include certain other investors.
3. (a) 21st Century Communications Foreign Partners, L.P., a limited
partnership organized under the laws of the State of Delaware ("Foreign").
(b) Address:
c/o Fiduciary Trust (Cayman) Limited
P.O. Box 1062
Grand Cayman, B.W.I.
(c) Principal Occupation: Investments.
(d) No.
(e) No.
SIP, 21st Century Management and InfoMedia are the general partners of
Foreign. The limited partners of Foreign include certain other investors.
4. (a) Michael J. Marocco, director, officer and sole shareholder of MJM
Media Corp., and a member of the Advisory Committee of the Issuer.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
- 14 of 25 -
<PAGE>
(c) Principal Business: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
MJM Media Corp. is a general partner of Sandler Capital Management
("SCM"), which is the general partner of SIP, a general partner of 21st Century,
T-E and Foreign.
5. (a) Barry Lewis, director and majority shareholder of EMEBE Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
EMEBE Corp. is a general partner of SCM, which is the general
partner of SIP, a general partner of 21st Century, T-E and Foreign.
6. (a) John Kornreich, director and majority shareholder of Four JK Corp.
and a member of the Advisory Committee of the Issuer.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: General Partner of partnerships and limited
partnerships engaged in the investment business.
(d) No.
(e) No.
- 15 of 25 -
<PAGE>
(f) Citizenship: United States.
Four JK Corp. is a general partner of SCM, which is the general
partner of SIP, a general partner of 21st Century, T-E and Foreign.
7. (a) Harvey Sandler, sole shareholder of ARH Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: General Partner of partnerships and
limited partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
ARH Corp. is a general partner of SCM, which is the general partner
of SIP, a general partner of 21st Century, T-E and Foreign.
8. (a) Andrew Sandler, a manager and majority member of ALSI, LLC.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: General Partner of partnerships and
limited partnerships engaged in the investment business.
(d) No.
(e) No.
(f) Citizenship: United States.
ALSI, LLC is a general partner of SCM, which is the general partner
of SIP, a general partner of 21st Century, T-E and Foreign.
9. (a) Barry Rubenstein, a shareholder, President and director of
InfoMedia, and a member of the Advisory Committee of the Issuer.
- 16 of 25 -
<PAGE>
(b) Address:
68 Wheatley Road
Brookville, New York 11545
(c) Principal Occupation: General Partner of partnerships and
limited partnerships engaged in the investment business.
(d) No.
(e) No.
(f) United States.
InfoMedia is a general partner of 21st Century, T-E and Foreign.
10. (a) Barry Fingerhut, a shareholder, Executive Vice President and
director of InfoMedia.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investment adviser.
(d) No.
(e) No.
(f) United States.
InfoMedia is a general partner of 21st Century, T-E and Foreign.
11. (a) Irwin Lieber, a shareholder, Secretary and Treasurer and a
director of InfoMedia, and a member of the Advisory Committee of the Issuer.
(b) Address:
767 Fifth Avenue
New York, New York 10153
(c) Principal Occupation: Investment adviser.
(d) No.
- 17 of 25 -
<PAGE>
(e) No.
(f) United States.
InfoMedia is a general partner of 21st Century, T-E and
Foreign.
ITEM 3. Source and Amount of Funds or Other Consideration.
On March 24, 1995, each of 21st Century, T-E and Foreign acquired
shares of Common Stock of the Issuer in the open market. The funds to acquire
the shares of Common Stock obtained from funds drawn on each of T-E's, Foreign's
and 21st Century's existing lines of credit, which funds are to be repaid from
capital contributions from the general and limited partners of each of 21st
Century, T-E and Foreign, respectively.
The amount of funds used in acquiring the shares of Common Stock are
set forth below:
Name Amount of Consideration
---- -----------------------
21st Century $ 728,891
T-E $ 247,997
Foreign $ 98,127
ITEM 4. Purpose of Transaction.
The Reporting Persons acquired their shares for the purposes of
investment.
The Reporting Persons do not have any plans or proposals which
relate to or would result in any of the actions set forth in subparagraphs (a)
through (j) of item 4 of Schedule 13D.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and
percentage (based on 2,118,879 shares of Common Stock outstanding as reported in
the Issuer's Form 10-K for the year ended December 31, 1994) of outstanding
shares of Common Stock owned beneficially by each reporting person named in Item
2, as of March 24, 1995:
- 18 of 25 -
<PAGE>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
21st Century Communications 200,000(1) 9.4%
Partners, L.P.
21st Century Communications T-E 200,000(2) 9.4%
Partners, L.P.
21st Century Communications Foreign 200,000(3) 9.4%
Partners, L.P.
Michael J. Marocco 200,000(4) 9.4%
Barry Lewis 200,000(4) 9.4%
John Kornreich 200,000(4) 9.4%
Harvey Sandler 200,000(4) 9.4%
Andrew Sandler 200,000(4) 9.4%
Barry Rubenstein 207,000(4), (5) 9.8%
Irwin Lieber 205,000(4), (6) 9.7%
Barry Fingerhut 205,000(4), (7) 9.7%
(b) By virtue of being the sole shareholder, officer and director of
MJM Media Corp., Michael J. Marocco may be deemed to have shared power to vote
and to dispose of 200,000 shares of Common Stock, representing approximately
9.4% of the outstanding Common Stock.
By virtue of being the majority shareholder and director of
EMEBE Corp., Barry Lewis may be deemed to have shared power to vote and to
dispose of 200,000 shares of Common Stock, representing approximately 9.4% of
the outstanding Common Stock.
By virtue of being the majority shareholder and director of
Four JK Corp., John Kornreich may be deemed to have shared power to vote and to
dispose of 200,000 shares of Common Stock, representing approximately 9.4% of
the outstanding Common Stock.
- ----------
(1) Includes 135,606 shares of Common Stock. 21st Century disclaims beneficial
ownership of 46,138 shares of Common Stock owned by T-E and 18,256 shares
of Common Stock owned by Foreign.
(2) Includes 46,138 shares of Common Stock. T-E disclaims beneficial ownership
of 135,606 shares of Common Stock owned by 21st Century and 18,256 shares
of Common Stock owned by Foreign.
(3) Includes 18,256 shares of Common Stock. Foreign disclaims beneficial
ownership of 135,606 shares of Common Stock owned by 21st Century and
46,138 shares of Common Stock owned by T-E.
(4) The reporting person disclaims beneficial ownership of these securities,
except to the extent of his equity interest therein.
(5) Includes 7,000 shares of Common Stock held in Barry Rubenstein's Rollover
IRA account.
(6) Includes 5,000 shares of Common Stock owned by Irwin Lieber.
(7) Includes 5,000 shares of Common Stock owned by Barry Fingerhut.
- 19 of 25 -
<PAGE>
By virtue of being the sole shareholder of ARH Corp., Harvey
Sandler may be deemed to have shared power to vote and to dispose of 200,000
shares of Common Stock, representing approximately 9.4% of the outstanding
Common Stock.
By virtue of being a manager and majority member of ALSI, LLC,
Andrew Sandler may be deemed to have shared power to vote and to dispose of
200,000 shares of Common Stock, representing approximately 9.4% of the
outstanding Common Stock.
By virtue of being a shareholder, officer and director of
InfoMedia, Barry Rubenstein may be deemed to have shared power to vote and to
dispose of 200,000 shares of Common Stock, representing approximately 9.4% of
the outstanding Common Stock. Barry Rubenstein has sole power to vote and to
dispose of 7,000 shares of Common Stock.
By virtue of being a shareholder, officer and director of
InfoMedia, Irwin Lieber may be deemed to have shared power to vote and to
dispose of 200,000 shares of Common Stock, representing approximately 9.4% of
the outstanding Common Stock. Irwin Lieber has sole power to vote and to dispose
of 5,000 shares of Common Stock.
By virtue of being a shareholder, officer and director of
InfoMedia, Barry Fingerhut may be deemed to have shared power to vote and to
dispose of 200,000 shares of Common Stock, representing approximately 9.4% of
the outstanding Common Stock. Barry Fingerhut has sole power to vote and to
dispose of 5,000 shares of Common Stock.
(c) The following is a description of all transactions in the shares
of Common Stock by the persons identified in Item 2 of this Schedule 13D
effected from January 24, 1995 through March 24, 1995, inclusive:
Number of Shares
Purchase or of Common Stock Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- ------------------- --------- ------------------- ----------
21st Century Communications
Partners, L.P. 03/24/95 135,606 $5.375
21st Century Communications
T-E Partners, L.P. 03/24/95 46,138 $5.375
21st Century Communications
Foreign Partners, L.P. 03/24/95 18,256 $5.375
Barry Rubenstein IRA
Rollover Account 03/22/95 (66,000) $5.25
(d) No other person has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of such securities.
- 20 of 25 -
<PAGE>
(e) Not applicable.
ITEM 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Not applicable.
ITEM 7. Material to be filed as Exhibits.
Exhibit 7.01 Joint Filing Agreement
- 21 of 25 -
<PAGE>
Signature
After reasonable inquiry and to the best of their knowledge and
belief, each of the undersigned hereby certifies that the information set forth
in this Schedule is true, complete, and correct.
Date: March 12, 1997
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/Harvey Sandler
---------------------------------
Name:
Title:
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/Harvey Sandler
---------------------------------
Name:
Title:
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/Harvey Sandler
---------------------------------
Name:
Title:
- 22 of 25 -
<PAGE>
s/Michael J. Marocco
--------------------------------------
Michael J. Marocco
s/Barry Lewis
--------------------------------------
Barry Lewis
s/John Kornreich
--------------------------------------
John Kornreich
s/Harvey Sandler
--------------------------------------
Harvey Sandler
s/Andrew Sandler
--------------------------------------
Andrew Sandler
s/Barry Rubenstein
--------------------------------------
Barry Rubenstein
s/Irwin Lieber
--------------------------------------
Irwin Lieber
s/Barry Fingerhut
--------------------------------------
Barry Fingerhut
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
- 23 of 25 -
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act, as
amended, the undersigned hereby agree to the joint filing on behalf of each of
them on a statement on Schedule 13D (including amendments thereto) with respect
to the Common Stock, par value $.001 per shares, of HB Communications
Acquisition Corp. and that this Agreement be included as an Exhibit to such
joint filing.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this
12th day of March, 1997.
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/Harvey Sandler
---------------------------------
Name:
Title:
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/Harvey Sandler
---------------------------------
Name:
Title:
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/Harvey Sandler
---------------------------------
Name:
Title:
- 24 of 25 -
<PAGE>
s/Michael J. Marocco
--------------------------------------
Michael J. Marocco
s/Barry Lewis
--------------------------------------
Barry Lewis
s/John Kornreich
--------------------------------------
John Kornreich
s/Harvey Sandler
--------------------------------------
Harvey Sandler
s/Andrew Sandler
--------------------------------------
Andrew Sandler
s/Barry Rubenstein
--------------------------------------
Barry Rubenstein
s/Irwin Lieber
--------------------------------------
Irwin Lieber
s/Barry Fingerhut
--------------------------------------
Barry Fingerhut
- 25 of 25 -
