DISC GRAPHICS INC /DE/
SC 13G/A, 2000-02-14
CONVERTED PAPER & PAPERBOARD PRODS (NO CONTANERS/BOXES)
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  <PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No. 4)


                               DISC GRAPHICS, INC.
                              ---------------------
                                (Name of Issuer)


                     Common Stock, par value, $.01 per share
              ----------------------------------------------------
                         (Title of Class of Securities)


                                    254590102
                            ------------------------
                                 (CUSIP Number)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X]      Rule 13d-1(b)
[ ]      Rule 13d-(c)
[ ]      Rule 13d-1(d)

*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 the
disclosures provided in a prior cover page.

The information required in 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).
                              Page 1 of 6 Pages
<PAGE>

                               SCHEDULE 13G

- -------------------                                        -----------------
CUSIP No. 254590102                                        Page 2 of 6 Pages
- -------------------                                       ------------------
=================================================================
1  NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
   Allen Holding Inc.
- -----------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*  (a)[ ]
                                                            (b)[x]
- -----------------------------------------------------------------
3  SEC USE ONLY

- -----------------------------------------------------------------
4  CITIZENSHIP OR PLACE OF ORGANIZATION
   Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
5  SOLE VOTING POWER
                  0
- -----------------------------------------------------------------
6  SHARED VOTING POWER
              0
- -----------------------------------------------------------------
7  SOLE DISPOSITIVE POWER
                  0
- -----------------------------------------------------------------
8  SHARED DISPOSITIVE POWER
                  0
- -----------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
              0
- -----------------------------------------------------------------
10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    CERTAIN SHARES*                                   [x]
- -----------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                  6.2%
- -----------------------------------------------------------------
12  TYPE OF REPORTING PERSON*
            HC
=================================================================

<PAGE>

                                    SCHEDULE 13G
- -------------------                                       -----------------
CUSIP No. 254590102                                       Page 3 of 6 Pages
- -------------------                                       -----------------
===============================================================================
1  NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
   Allen & Company Incorporated
- -----------------------------------------------------------------
2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*     (a)  [ ]
                                                         (b)  [x]
- -----------------------------------------------------------------
3  SEC USE ONLY
- -----------------------------------------------------------------
4  CITIZENSHIP OR PLACE OF ORGANIZATION
   New York
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
5  SOLE VOTING POWER
350,827 (Includes 85,912 additional Warrants)
- -----------------------------------------------------------------
6  SHARED VOTING POWER
                0
- ----------------------------------------------------------------
7  SOLE DISPOSITIVE POWER
350,827 (Includes 85,912 additional Warrants)
- -----------------------------------------------------------------
8  SHARED DISPOSITIVE POWER
                0
- -----------------------------------------------------------------
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
350,827 (Includes 85,912 additional Warrants)
- -----------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*   [ ]
- -----------------------------------------------------------------
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                  6.2%
- -----------------------------------------------------------------
12  TYPE OF REPORTING PERSON* -
  BD; CO
=================================================================

<PAGE>
                                                       Page 4 of 6 Pages
                           AMENDMENT NO. 4
                              TO THE
                            SCHEDULE 13G
Item 1.
                  (a)      Name of Issuer:

                           Disc Graphics, Inc.

                  (b)      Address of Issuer's Principal Executive Office:

                           10 Gilpin Avenue
                           Hauppauge, NY 11788

Item 2.           Name of Person Filing

                  (a)      Name of Person Filing:

                           Allen & Company Incorporated ("ACI")
                           Allen Holding Inc.("AHI")

                  (b)      Address of Principal Office:

                           711 Fifth Avenue
                           New York, New York 10022

(c) Citizenship/Organization:

                           ACI - New York
                           AHI - Delaware

                  (d)      Title Class of Securities:

                           Common Stock, par value $.01 per share

                  (e)      CUSIP Number:  254590102

Item 3.           If Statement is filed pursuant to Rules 13(d)-1(b) or
                  13d-2(b), check whether Person Filing is a

                  (a)      [X]      ACI is a Broker-Dealer registered under
                                    Section 15 of the Act.
                  (g)      [X]      AHI is a parent holding company in
                                    accordance with Rule 13d-1(b)(ii)(G).

<PAGE>

                                                         Page 5 of 6 Pages

Item 4.           Ownership.

                  (a)      Amount Beneficially Owned:
                           350,827 shares of Common Stock (1)

                  (b)      Percent of Class:  8.7%

                  (c)      Number of Shares to Which Such Person Has:
                             (i)   Sole voting power -     350,827 shares of
                                                            Common Stock (1)
                            (ii)   Shared voting power -  0
                           (iii)   Sole dispositive power - 350,827 shares of
                                                            Common Stock(1)
                            (iv)   Shared dispositive power - 0

Item 5.           Ownership of Five Percent or Less of a Class.
                  Not Applicable.

Item 6.           Ownership of More Than Five Percent on Behalf of Another
                  Person.
                  Not Applicable.

Item 7.           Identification and Classification of Members of the Subsidiary
                  Which Acquired the Securities Being Reported on by the Parent
                  Holding Company.

                  Not Applicable.

Item 8.           Identification and Classification of Members of the  Group.
                  Not Applicable.

Item 9.           Notice of Dissolution of Group.
                  Not Applicable.

- -------------------------------------------------------------------------------
(1)   Includes Warrants to purchase an additional 85,912 shares of Common Stock.


Item 10.          Certification.


                  By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.

<PAGE>

                                                           Page 6 of 6 Pages


Signature:  After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.

Date:  February 11, 2000


ALLEN & COMPANY INCORPORATED


       /s/ Gaetano J. Casillo
By:-----------------------------
Name:  Gaetano J. Casillo
Title: Vice President


ALLEN HOLDING INC.

           /s/ Gaetano J. Casillo
By:----------------------------
Name:  Gaetano J. Casillo
Title: Vice President



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