SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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. 7)(1)
SOURCE MEDIA, INC.
(Name of Issuer)
COMMON STOCK, $0.001 PAR VALUE
(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
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 14, 1999
(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that 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
|_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following page(s))
- ----------
(1) 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).
- 1 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21 Century Communications Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* WC
________________________________________________________________________________
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
________________________________________________________________________________
7 Sole Voting Power
Number of 635,949 shares 4.7%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
301,989 shares 1.7%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 635,949 shares 4.7%
Person _________________________________________________________________
10 Shared Dispositive Power
With
301,989 shares 1.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
937,938 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 2 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications T-E Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* WC
________________________________________________________________________________
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
________________________________________________________________________________
7 Sole Voting Power
Number of 216,374 shares 1.7%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
721,564 shares 5.3%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 216,374 shares 1.7%
Person _________________________________________________________________
10 Shared Dispositive Power
With
721,564 shares 5.3%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
937,938 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 3 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Foreign Partners, L.P.
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds*
WC
________________________________________________________________________________
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
________________________________________________________________________________
7 Sole Voting Power
Number of 85,615 shares 0.7%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
852,323 shares 6.2%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 85,615 shares 0.7%
Person _________________________________________________________________
10 Shared Dispositive Power
With
852,323 shares 6.2%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
937,938 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
PN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 4 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Michael Marocco
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 30,788 shares 0.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 30,788 shares 0.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
968,726 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 5 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
John Kornreich
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box If Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
959,726 shares 7.0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
959,726 shares 7.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
959,726 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 6 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Harvey Sandler
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 38,129 shares 0.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 38,129 shares 0.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
976,067 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 7 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Andrew Sandler
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 5,447 shares 0.1%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 5,447 shares 0.1%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
943,385 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 8 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Rubenstein
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 42,814 shares 0.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
1,039,813 shares 7.5%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 42,814 shares 0.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
1,039,813 shares 7.5%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,082,627 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.8%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 9 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Fingerhut
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 38,814 shares 0.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 38,814 shares 0.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
976,752 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 10 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Irwin Lieber
________________________________________________________________________________
2 Check the Appropriate Box if a Member of a Group*
(a) [_]
(b) [_]
________________________________________________________________________________
3 SEC Use Only
________________________________________________________________________________
4 Source of Funds* PF, OO
________________________________________________________________________________
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 38,814 shares 0.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 38,814 shares 0.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
976,752 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
7.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 11 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Douglas Schimmel
________________________________________________________________________________
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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
937,938 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 12 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Hannah Stone
________________________________________________________________________________
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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
937,938 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 13 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
David Lee
________________________________________________________________________________
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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
937,938 shares 6.8%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
937,938 shares 6.8%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
937,938 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.8%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 14 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Seth 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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 15 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Jonathan 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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 16 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
John and Janet Kornreich Charitable Foundation
________________________________________________________________________________
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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 21,788 shares 0.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 21,788 shares 0.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
21,788 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0.2%
________________________________________________________________________________
14 Type of Reporting Person*
OO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 17 of 30 -
<PAGE>
CUSIP
No. 404091100 13D
________________________________________________________________________________
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Janet Kornreich
________________________________________________________________________________
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 Items 2(D) or 2(e) [_]
________________________________________________________________________________
6 Citizenship or Place of Organization
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
21,788 shares 0.2%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
21,788 shares 0.2%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
21,788 shares
________________________________________________________________________________
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
0.2%
________________________________________________________________________________
14 Type of Reporting Person*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 18 of 30 -
<PAGE>
This statement, dated April 14, 1999, constitutes Amendment No. 7 to the
Schedule 13D, dated March 24, 1995, regarding the reporting persons' ownership
of certain securities of Source Media, Inc. (the "Issuer").
This 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. 7 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. It shall refer only to the information which has materially
changed since the filing of the Schedule.
ITEM 2. Identity and Background
8. (a) Andrew Sandler, is the sole shareholder of ALCR Corp. (formerly,
ALSI, LLC).
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: Investments
(d) No.
(e) No.
(f) Citizenship: United States.
ALCR Corp. is a general partner of SCM, which is the general partner of
SIP, a general partner of 21st Century, T-E and Foreign.
12. (a) Douglas Schimmel, is the sole shareholder of SERF Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: Investments.
(d) No.
(e) No.
(f) Citizenship: United States.
SERF Corp., became a general partner of SCM on January 1, 1999, which is
the general partner of SIP, a general partner of 21st Century, T-E and Foreign.
13. (a) Hannah Stone, is the sole shareholder of TERPSI Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: Investments.
(d) No.
(e) No.
(f) Citizenship: United States.
- 19 of 30 -
<PAGE>
TERPSI Corp. became a general partner of SCM on January 1, 1999, which is
the general partner of SIP, a general partner of 21st Century, T-E and Foreign.
14. (a) David Lee, is the sole shareholder of JIRAKAL Corp.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: Investments.
(d) No.
(e) No.
(f) Citizenship: United States.
JIRAKAL Corp. became a general partner of SCM on January 1, 1999, which is
the general partner of SIP, a general partner of 21st Century, T-E and Foreign.
15. (a) Seth Lieber, is a general partner of Applewood Associates, L.P.,
and an officer of Applewood Capital Corp., a general partner of
Applewood Associates, L.P.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: Investments.
(d) No.
(e) No.
(f) Citizenship: United States.
16. (a) Jonathan Lieber, is a general partner of Applewood Associates,
L.P., and an officer of Applewood Capital Corp., a general
partner of Applewood Associates, L.P.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Business: Investments.
(d) No.
(e) No.
(f) Citizenship: United States.
17. (a) John and Janet Kornreich Charitable Foundation, an organization
which is exempt from federal income taxation pursuant to Section
501(a) of the Internal Revenue Code of 1986, as amended (the
"Foundation").
(b) Address:
78 Yale Street
Roslyn Heights, New York 11577
(c) Principal Business: Charitable Foundation
(d) No.
(e) No.
- 20 of 30 -
<PAGE>
John Kornreich and Janet Kornreich are the trustees of the Foundation.
18. (a) Janet Kornreich, is a trustee of the Foundation.
(b) Address:
78 Yale Street
Roslyn Heights, New York 11577
(c) Principal Business: Homemaker.
(d) No.
(e) No.
(f) Citizenship: United States.
ITEM 5. Interests in Securities of the Issuer.
a. The following list sets forth the aggregate number and percentage (based
on 12,842,610 shares of Common Stock outstanding as reported in the Issuer's
Form 10-K for the year ended December 31, 1998) of outstanding shares of Common
Stock owned beneficially by each reporting person named in Item 2, as of April
14, 1999:
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(2) Beneficially Owned(2)
- ---- ------------------ -------------------
<S> <C> <C>
21st Century Communications Partners, L.P. 937,938 (3) 6.8%
21st Century Communications T-E Partners, L.P. 937,938 (4) 6.8%
21st Century Communications Foreign Partners, L.P. 937,938 (5) 6.8%
Michael J. Marocco 968,726 (6), (7), (8) 7.0%
John Kornreich 959,726 (6), (7), (9) 7.0%
Harvey Sandler 976,067 (6), (7), (10) 7.1%
Andrew Sandler 943,385 (6), (7), (11) 6.8%
Douglas Schimmel 937,938 (6), (7) 6.8%
Hannah Stone 937,938 (6), (7) 6.8%
David Lee 937,938 (6), (7) 6.8%
Barry Rubenstein 1,082,627 (6), (7), (12), (13) 7.8%
Irwin Lieber 976,752 (6), (7), (13) 7.1%
Barry Fingerhut 976,752 (6), (7), (13) 7.1%
Seth Lieber 0 0%
Jonathan Lieber 0 0%
John and Janet Kornreich Charitable Foundation 21,788 (9) 0.2%
Janet Kornreich 21,788 (9) 0.2%
</TABLE>
- ----------
(2) Includes shares of Common Stock issuable upon the exercise of the Warrants.
(3) Includes 635,949 shares of Common Stock issuable upon the exercise of the
Warrants. 21st Century disclaims beneficial ownership of 216,374 shares of
Common Stock issuable upon the exercise of the Warrants owned by T-E and
85,615 shares of Common Stock issuable upon the exercise of the Warrants
owned by Foreign.
(4) Includes 216,374 shares of Common Stock issuable upon the exercise of the
Warrants. T-E disclaims beneficial ownership of 635,949 shares of Common
Stock issuable upon the exercise of the Warrants owned by 21st Century and
85,615 shares of Common Stock issuable upon the exercise of the Warrants
owned by Foreign.
(5) Includes 85,615 shares of Common Stock issuable upon the exercise of the
Warrants. Foreign disclaims beneficial ownership of 635,949 shares of
Common Stock issuable upon the exercise of the Warrants owned by 21st
Century and 216,374 shares of Common Stock issuable upon the exercise of
the Warrants owned by T-E.
(6) The reporting person disclaims beneficial ownership of these securities,
except to the extent of his/her equity interest therein.
(7) Includes 635,949, 216,374 and 85,615 shares of Common Stock issuable upon
the exercise of the Warrants owned by 21st Century, T-E and Foreign,
respectively.
(8) Includes 9,675 shares of Common Stock issuable upon the exercise of the
Warrants.
(9) Includes 12,113 shares of Common Stock and 9,675 shares of Common Stock
issuable upon the exercise of the Warrants owned by John and Janet
Kornreich Charitable Foundation.
(10) Includes 16,931 of Common Stock issuable upon the exercise of the Warrants.
(11) Includes 2,419 shares of Common Stock issuable upon the exercise of the
Warrants.
(12) Includes 101,875 shares of Common Stock issuable upon the exercise of a
warrant owned by Woodland Partners.
(13) Includes 16,125 shares of Common Stock issuable upon the exercise of the
Warrants.
- 21 of 30 -
<PAGE>
b. By virtue of being the sole shareholder of MJDM Corp., Michael J.
Marocco may be deemed to have shared power to vote and to dispose of 937,938
shares of Common Stock (representing 937,938 shares of Common Stock issuable
upon the exercise of the Warrants), representing approximately 6.8% of the
outstanding Common Stock. Michael J. Marocco has sole power to vote and to
dispose of 30,788 shares of Common Stock (which includes 9,675 shares of Common
Stock issuable upon the exercise of the Warrants and 9,000 shares of Common
Stock issuable upon the exercise of non-qualified stock options), representing
approximately 0.2% of the outstanding Common Stock.
By virtue of being the majority shareholder of Four JK Corp. and a trustee
of the Foundation, John Kornreich may be deemed to have shared power to vote and
to dispose of 959,726 shares of Common Stock (which includes 947,613 shares of
Common Stock issuable upon the exercise of the Warrants), representing
approximately 7.0% of the outstanding Common Stock.
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 937,938 shares of Common
Stock (representing 937,938 shares of Common Stock issuable upon the exercise of
the Warrants), representing approximately 6.8% of the outstanding Common Stock.
Harvey Sandler has sole power to vote and to dispose of 38,129 shares of Common
Stock (which includes 16,931 shares of Common Stock issuable upon the exercise
of the Warrants), representing approximately 0.3% of the outstanding Common
Stock.
By virtue of being the sole shareholder of ALCR Corp., Andrew Sandler may
be deemed to have shared power to vote and to dispose of 937,938 shares of
Common Stock (representing 937,938 shares of Common Stock issuable upon the
exercise of the Warrants), representing approximately 6.8% of the outstanding
Common Stock. Andrew Sandler has sole power to vote and to dispose of 5,447
shares of Common Stock (which includes 2,419 shares of Common Stock issuable
upon the exercise of the Warrants), representing approximately 0.1% of the
outstanding Common Stock.
By virtue of being the sole shareholder of SERF Corp., Douglas Schimmel may
be deemed to have shared power to vote and to dispose of 937,938 shares of
Common Stock (representing 937,938 shares of Common Stock issuable upon the
exercise of the Warrants), representing approximately 6.8% of the outstanding
Common Stock
- 22 of 30 -
<PAGE>
By virtue of being the sole shareholder of TERPSI Corp., Hannah Stone may
be deemed to have shared power to vote and to dispose of 937,938 shares of
Common Stock (representing 937,938 shares of Common Stock issuable upon the
exercise of the Warrants), representing approximately 6.8% of the outstanding
Common Stock.
By virtue of being the sole shareholder of JIRAKAL Corp., David Lee may be
deemed to have shared power to vote and to dispose of 937,938 shares of Common
Stock (representing 937,938 shares of Common Stock issuable upon the exercise of
the Warrants), representing approximately 6.8% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of InfoMedia, and a
general partner of Woodland Partners, Barry Rubenstein may be deemed to have
shared power to vote and to dispose of 1,039,813 shares of Common Stock
(representing 1,039,813 shares of Common Stock issuable upon the exercise of the
Warrants), representing approximately 7.8% of the outstanding Common Stock.
Barry Rubenstein has sole power to vote and to dispose of 42,814 shares of
Common Stock (which includes 16,125 shares of Common Stock issuable upon the
exercise of the Warrants and 3,000 shares of Common Stock issuable upon the
exercise of non-qualified stock options), representing approximately 0.3% of the
outstanding 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 937,938
shares of Common Stock (representing 937,938 shares of Common Stock issuable
upon the exercise of the Warrants), representing approximately 6.8% of the
outstanding Common Stock. Irwin Lieber has sole power to vote and to dispose of
38,814 shares of Common Stock (which includes 16,125 shares of Common Stock
issuable upon the exercise of the Warrants), representing approximately 0.3% of
the outstanding 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 937,938
shares of Common Stock (representing 937,938 shares of Common Stock issuable
upon the exercise of the Warrants), representing approximately 6.8% of the
outstanding Common Stock. Barry Fingerhut has sole power to vote and to dispose
of 38,814 shares of Common Stock (which includes 16,125 shares of Common Stock
issuable upon the exercise of the Warrants), representing approximately 0.3% of
the outstanding Common Stock.
The Foundation has sole power to vote and to dispose of 21,788 shares of
Common Stock (which includes 9,675 shares of Common Stock issuable upon the
exercise of the Warrants), representing approximately 0.2% of the outstanding
Common Stock.
By virtue of being a trustee of the Foundation, Janet Kornreich may be
deemed to have shared power to vote and to dispose of 21,788 shares of Common
Stock (which includes 9,675 shares of Common Stock issuable upon the exercise of
the Warrants), representing approximately 0.2% of the outstanding Common Stock.
c. The following is a description of all transactions in the securities of
the Issuer by the persons identified in Item 2 of this Schedule effected from
February 12, 1999 to April 14, 1999, inclusive.
- 23 of 30 -
<PAGE>
<TABLE>
<CAPTION>
Number of
Purchase Shares
or Sale Purchased Purchase or
Name of Shareholder Date or (Sold) Sales Price
------------------- ------ ---------- ------------
<S> <C> <C> <C>
Applewood Associates, L.P. 4/14/99 (50,000) $21.08
</TABLE>
The reporting person made its sales of securities in the over-the-counter
market.
John Kornreich gifted 12,113 shares of Common Stock and 9,675 Warrants to
the Foundation in October, 1998.
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.
e. Effective April 14, 1999, Applewood Associates, L.P., Applewood Capital
Corp., Seth Lieber and Jonathan Lieber ceased to be the beneficial owners of any
shares of the Common Stock of the Issuer.
ITEM 7. Material to be Filed as Exhibits
Exhibit 7.01 Agreement effective as of April 14, 1999 among the reporting
persons by which they have agreed to file this Schedule 13D and all necessary
amendments, as required by Rule 13d-1(f).
- 24 of 30 -
<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: April 26, 1999
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: MJDM Corp., general partner
By: Moira Mitchell
--------------------------------------------------
Name: Moira Mitchell
Title: Vice President and Secretary
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: MJDM Corp., general partner
By: Moira Mitchell
--------------------------------------------------
Name: Moira Mitchell
Title: Vice President and Secretary
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: MJDM Corp., general partner
By: Moira Mitchell
--------------------------------------------------
Name: Moira Mitchell
Title: Vice President and Secretary
- 25 of 30 -
<PAGE>
Michael J. Marocco
--------------------------------------------------
Michael J. Marocco
John Kornreich
--------------------------------------------------
John Kornreich
Harvey Sandler
--------------------------------------------------
Harvey Sandler
Andrew Sandler
--------------------------------------------------
Andrew Sandler
Douglas Schimmel
--------------------------------------------------
Douglas Schimmel
Hannah Stone
--------------------------------------------------
Hannah Stone
David Lee
--------------------------------------------------
David Lee
Barry Rubenstein
--------------------------------------------------
Barry Rubenstein
Irwin Lieber
--------------------------------------------------
Irwin Lieber
Barry Fingerhut
--------------------------------------------------
Barry Fingerhut
Seth Lieber
--------------------------------------------------
Seth Lieber
Jonathan Lieber
--------------------------------------------------
Jonathan Lieber
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
- 26 of 30 -
<PAGE>
Janet Kornreich
--------------------------------------------------
Janet Kornreich
JOHN AND JANET KORNREICH CHARITABLE
FOUNDATION
By: John Kornreich
---------------------------------------------
Name: John Kornreich
Title: Trustee
- 27 of 30 -
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree to the joint filing on behalf of each
of them of a statement on Schedule 13D (including amendments thereto) with
respect to the Common Stock, par value $.001 per share, of Source Media, Inc.
and that this Agreement be included as an Exhibit to such statement on Schedule
13D.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement effective
as of the 14th day of April, 1999.
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: MJDM Corp., general partner
By: Moira Mitchell
--------------------------------------------------
Name: Moira Mitchell
Title: Vice President and Secretary
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: MJDM Corp., general partner
By: Moira Mitchell
--------------------------------------------------
Name: Moira Mitchell
Title: Vice President and Secretary
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: MJDM Corp., general partner
By: Moira Mitchell
--------------------------------------------------
Name: Moira Mitchell
Title: Vice President and Secretary
- 28 of 30 -
<PAGE>
Michael J. Marocco
--------------------------------------------------
Michael J. Marocco
John Kornreich
--------------------------------------------------
John Kornreich
Harvey Sandler
--------------------------------------------------
Harvey Sandler
Andrew Sandler
--------------------------------------------------
Andrew Sandler
Douglas Schimmel
--------------------------------------------------
Douglas Schimmel
Hannah Stone
--------------------------------------------------
Hannah Stone
David Lee
--------------------------------------------------
David Lee
Barry Rubenstein
--------------------------------------------------
Barry Rubenstein
Irwin Lieber
--------------------------------------------------
Irwin Lieber
Barry Fingerhut
--------------------------------------------------
Barry Fingerhut
Seth Lieber
--------------------------------------------------
Seth Lieber
Jonathan Lieber
--------------------------------------------------
Jonathan Lieber
- 29 of 30 -
<PAGE>
Janet Kornreich
--------------------------------------------------
Janet Kornreich
JOHN AND JANET KORNREICH CHARITABLE
FOUNDATION
By: John Kornreich
---------------------------------------------
Name: John Kornreich
Title: Trustee
- 30 of 30 -
