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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 21, 1996
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DISCOVERY ZONE, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
Delaware 0-21854 36-3877601
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(State of other jurisdiction (Commission (IRS Employer
of incorporation or File Number) Identification No.)
organization)
One Corporate Plaza
110 East Broward Boulevard
Fort Lauderdale, Florida 33301
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (954) 627-2400
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Item 5. Other Events.
On May 21, 1996, a Nasdaq Listing Qualifications Panel (the "Panel")
informed Discovery Zone, Inc. (the "Registrant") that its request for an
exception to the net tangible assets and bid price requirements set forth in
Sections 5(a)(3) and 5(a)(5) of Part III of Schedule D of the NASD By-Laws was
denied. As a result, the Panel informed the Registrant that effective May 23,
1996, shares of the Registrant's common stock, par value $.01 (the "Common
Stock") and the Registrant's Liquid Yield Option Notes -- due 2013 (the
"LYONs") (the Common Stock and the LYONs are referred to herein, collectively,
as the "Securities") will be deleted from The Nasdaq Stock Market. The
Registrant has subsequently determined that the Nasdaq deleted the Securities
from The Nasdaq Stock Market effective May 22, 1996.
The Registrant does not intend to request a review of the Panel's
decision by the Nasdaq Listing and Hearing Review Committee. The Registrant
intends to file an application to have the Securities quoted in the OTC
Bulletin Board or, in the alternative, in the NQB Pink Sheets. There can be no
assurance that such application will be approved or that the Securities will
quoted in either the OTC Bulletin Board or the NQB Pink Sheets.
Signatures
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DISCOVERY ZONE, INC.
By: /s/ David A. Barclay
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David A. Barclay
Vice President and General Counsel
Date: May 22, 1996
