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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
(Amendment No. 2)
Under the Securities Exchange Act of 1934
People's Choice TV Corp.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
710847104
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(CUSIP Number of Class of Securities)
Matthew Oristano
c/o People's Choice TV Corp.
2 Corporate Drive, Suite 249
Shelton, CT 06484
(203) 929-2800
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Daniel D. Rubino
Willkie Farr & Gallagher
787 Seventh Avenue
New York, NY 10019-6099
(212) 728-8000
May 20, 1999
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(Date of Event which Requires
Filing of this Schedule)
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:
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SCHEDULE 13D
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CUSIP No. 710847104 Page 2 of 6 Pages
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- ----------- -------------------------------------------------------------------
1 NAME OF REPORT PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Matthew Oristano
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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*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 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
205,000
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------- -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 205,000
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
205,000
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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)
1.6%
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14 TYPE OF REPORTING PERSON*
IN
- ----------- -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP No. 710847104 Page 3 of 6 Pages
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- ----------- -------------------------------------------------------------------
1 NAME OF REPORT PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alda Multichannels Ltd.
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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*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ----------- -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- -----------------------------------------------
7 SOLE VOTING POWER
0
--------- -----------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------- -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
--------- -----------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
0
- ----------- -------------------------------------------------------------------
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*
CO
- ----------- -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This Amendment No. 2 to Schedule 13D relates to the common stock, $.01 par
value (the "Common Stock"), of People's Choice TV Corp., a Delaware corporation
(the "Issuer"). This Amendment No. 2 supplementally amends the initial statement
on Schedule 13D of the Reporting Persons filed on February 11, 1998 (the
"Initial Statement") and Amendment No. 1 thereton filed on April 19, 1999. The
principal executive offices of the Issuer are located at 2 Corporate Drive,
Suite 249, Shelton, CT. This Amendment No. 2 is being filed by the Reporting
Persons solely to report recent transactions in the Common Stock as a result of
which the percentage of shares of Common Stock of which the Reporting Persons
may be deemed the beneficial owners of has changed by more than one percent.
Capitalized terms used herein and not otherwise defined herein shall have the
meanings given to them in the Initial Statement.
Item 4 is hereby amended as follows:
Item 4. Purpose of the Transaction.
Pursuant to the terms of the Stockholder and Option Agreement dated as of
April 12, 1999 (the "Option Agreement") between the Reporting Persons and
Sprint, Sprint purchased the Option Shares at a price equal to $10.00 in cash
per share of Common Stock.
Item 5 is hereby amended as follows:
Item 5. Interest in Securities of the Issuer.
As of May 20, 1999, the Reporting Persons ceased to be the beneficial owner
of more than 5% of the shares of Common Stock of the Company.
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: May 27, 1999 MATTHEW ORISTANO
/s/ Matthew Oristano
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ALDA MULTICHANNELS LTD.
By: /s/ Matthew Oristano
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President
