SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. 1)(1)
AUDIO BOOK CLUB, INC.
(Name of Issuer)
COMMON STOCK, NO PAR VALUE
(Title of Class of Securities)
05068R108
(CUSIP Number)
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(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 (the "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 5 Pages
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CUSIP No. 05068R108 13G Page 2 of 5 Pages
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1. NAME OF REPORTING PERSON
IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Norton Herrick
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
Not Applicable
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5. SOLE VOTING POWER
SHARES 1,158,200 (includes currently exercisable options to
BENEFICIALLY purchase 1,150,000 shares)
OWNED BY --------------------------------------------------------------
EACH 6. SHARED VOTING POWER
REPORTING None
PERSON --------------------------------------------------------------
WITH 7. SOLE DISPOSITIVE POWER
2,135,120 (includes currently exercisable options to
purchase 1,150,000 shares)
--------------------------------------------------------------
8. SHARED DISPOSITIVE POWER
None
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,135,120 (includes currently exercisable options to purchase
1,150,000 shares)
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |X|
(Does not include 2,714,180 shares held by N. Herrick Irrevocable
ABC Trust, of which Norton Herrick is the sole beneficiary and in
which he therefore may be deemed to have an economic interest. Mr.
Herrick does not have voting power or dispositive power with
respect to the shares held by the trust.)
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
29.2%
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12. TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5 Pages
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Item 1(a). Name of Issuer:
AUDIO BOOK CLUB, INC.
Item 1(b). Address of Issuer's Principal Executive Offices:
2295 Corporate Boulevard, N.W., Suite 222
Boca Raton, FL 33431
Item 2(a). Name of Person Filing:
This Amendment No. 1 to Schedule 13G is filed on behalf of Norton
Herrick (a "Reporting Person").
Item 2(b). Address of Principal Business Office or, if None, Residence:
Audio Book Club, Inc.
2295 Corporate Boulevard, N.W., Suite 222
Boca Raton, FL 33431
Item 2(c). Citizenship:
Mr. Herrick is a United States citizen.
Item 2(d). Title of Class of Securities:
Common Stock, no par value
Item 2(e). CUSIP Number:
05068R108
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) - (h): Not applicable.
Item 4. Ownership:
(a) Amount Beneficially Owned: At November 24, 1998, Mr. Herrick
beneficially owned 2,135,120 shares. This number excludes
2,714,180 shares held by N. Herrick Irrevocable ABC Trust, of
which Norton Herrick is the sole beneficiary and in which he
therefore may be deemed to have an economic interest. Mr. Herrick
does not have voting power or dispositive power with respect to
the shares held by the trust.
(b) Percent of Class: 29.2%
Page 3 of 5 Pages
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 1,158,200
(includes currently exercisable options to purchase
1,150,000 shares)
(ii) shared power to vote or to direct the vote: None.
(iii) sole power to dispose or to direct the disposition of:
2,135,120 (includes currently exercisable options to
purchase 1,150,000 shares)
(iv) shared power to dispose or to direct the disposition
of: None.
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 the Subsidiary Which
Acquired the Security 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.
Item 10. Certification.
Not Applicable.
Page 4 of 5 Pages
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: November 24, 1998
By: /s/ Norton Herrick
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Norton Herrick
Page 5 of 5 Pages
