<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------------
FORM 8-K/A
Amendment No. 1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 10, 1996
----------------------------
MULTI-MARKET RADIO, INC.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
Delaware 0-22080 35-3707697
- ------------------------------------------------------------------------------
(State or Other (Commission File No.) (IRS Employer Identification No.)
Jurisdiction of
Incorporation)
150 East 58th Street, New York, New York 10155
- ------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 407-9150
--------------------------
N/A
- ------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Not Applicable
(b) Pro Forma Financial Information
-------------------------------
The pro forma financial information required by Item 7(b) for the
required period is set forth below:
<TABLE>
<CAPTION>
($ in 000s, except per share data)
YEAR ENDED DECEMBER 31, 1995
REPORTED ADJUSTMENTS PRO FORMA
-------- ----------- ---------
<S> <C> <C> <C>
Gross revenues $ 20,325 $ (1,734) $ 18,591
Agency commissions (2,037) 216 (1,821)
----------- ----------- -----------
Net revenues 18,288 (1,518) 16,770
Station operating expenses 11,026 (1,679) 9,347
Depreciation and amortization expense 1,751 (211) 1,540
Non-cash compensation 281 - 281
Corporate expenses 1,665 - 1,665
----------- ----------- ----------
Total operating expenses 14,723 (1,890) 12,833
----------- ----------- -----------
Operating income 3,565 372 3,937
Interest income (expense), net (4,965) - (4,965)
Other income (expense) 10 - 10
----------- ----------- -----------
Loss before income taxes and extraordinary item (1,390) 372 (1,018)
Benefit from income taxes 59 - 59
----------- ----------- -----------
Loss before extraordinary item (1,331) 372 (959)
Extraordinary item-loss on early extinguishment of debt (329) - (329)
----------- ----------- -----------
Net loss $ (1,660) $ 372 $ (1,288)
----------- ----------- -----------
Per common share
Loss before extraordinary item $ (0.38) $ 0.11 $ (0.27)
Extraordinary item $ (0.10) $ - $ (0.10)
----------- ----------- ------------
Net loss $ (0.48) $ 0.11 $ (0.37)
----------- ----------- ------------
Weighted average common shares outstanding 3,490,000 3,490,000 3,490,000
----------- ----------- -----------
</TABLE>
<PAGE>
($ in 000s, except per share data)
Quarter ended March 31, 1996
Reported Adjustments Pro Forma
-------- ----------- ---------
Gross revenues $ 5,347 $ (459) $ 4,888
Agency commissions (521) 53 (468)
---------- ---------- ----------
Net revenues 4,826 (406) 4,420
Station operating expenses 3,092 (490) 2,602
Depreciation and amortization
expense 424 (71) 353
Non-cash compensation 65 -- 65
Corporate expenses 622 -- 622
---------- ---------- ----------
Total operating expenses 4,203 (561) 3,642
---------- ---------- ----------
Operating income 623 155 778
Provision for loss on pending
sale of WRXR and WKBG (1,540) 1,540 --
Write-off of pending acquisition
and financing costs (570) (570)
Gain on sale of WRSF 69 69
Interest income (expense), net (1,338) -- (1,338)
Other income (expense) (3) -- (3)
---------- ---------- ----------
Loss before income taxes (2,759) 1,695 (1,064)
Provision for income taxes -- -- --
---------- ---------- ----------
Net loss $ (2,759) $ 1,695 $ (1,064)
---------- ---------- ----------
Per common share
Net loss $ (0.79) $ 0.49 (0.30)
---------- ---------- ----------
Weighted average common
shares outstanding 3,490,000 3,490,000 3,490,000
---------- ---------- ----------
<PAGE>
($ in 000s)
March 31, 1996
Reported Adjustments Pro Forma
-------- ----------- ---------
ASSETS
Cash & cash equivalents $ 3,960 $ 5,000 $ 8,960
Accounts receivable, net 3,437 -- 3,437
Other current assets 471 -- 471
------- ------- -------
Total current assets 7,868 5,000 12,868
Property, plant & equipment, net 3,649 -- 3,649
Intangible assets, net 48,948 -- 48,948
Deposits 1,871 1,871
Net assets to be sold 5,050 (5,000) 50
Other assets 55 -- 55
------- -------- -------
Total Assets $67,441 $ -- $67,441
------- -------- -------
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities to affiliate $ 302 $ -- $ 302
Accounts payable &
accrued expenses 1,555 -- 1,555
Accrued interest 1,298 -- 1,298
Current portion of
long-term debt 1,826 -- 1,826
------- ------- -------
Total current liabilities 4,981 -- 4,981
Deferred taxes 7,373 -- 7,373
Long-term debt 39,341 -- 39,341
Station sales deposits 3,563 -- 3,563
Other 58 -- 58
------- ------- -------
Total liabilities 55,316 -- 55,316
Stockholders' Equity 12,125 -- 12,125
------- ------- -------
Total Liabilities &
Stockholders' Equity $67,441 $ -- $67,441
------- ------- -------
(c) Exhibits
--------
Not Applicable
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchagne Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereto duly-authorized.
MULTI-MARKET RADIO, INC.
By:
----------------------
Name: Jerry Emlet
Title: Chief Financial Officer
Date: August , 1996