CD RADIO INC, SC 13D, 1997-04-11

CD RADIO INC
SC 13D, 1997-04-11
RADIO BROADCASTING STATIONS

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<PAGE>

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

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Initial Filing)*

CD RADIO, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)

COMMON STOCK
- --------------------------------------------------------------------------------
(Title of Class of Securities)

125127100
- --------------------------------------------------------------------------------
(CUSIP Number)

ROBERT C. GREENWOOD ROBERTSON, STEPHENS & COMPANY
555 CALIFORNIA STREET, SUITE 2600, SAN FRANCISCO, CA 94104
(415) 781-9700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)

APRIL 2, 1997
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)

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
box / /.

Check the following box if a fee is being paid with this statement / /. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.
(See Rule 13d-7.)

NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.

*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 ("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>

Cusip No. 125127100
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 125127100
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON

The Robertson Stephens Orphan Fund
Tax I.D. 94-3108651
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

WC
- -------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

CALIFORNIA
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 1,072,200
REPORTING --------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,072,200
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,072,200
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.4%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IV
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
*SEE INSTRUCTION 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>

Bayview Investors, LTD.
Tax I.D. 94-3108651
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

CALIFORNIA
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES 0
BENEFICIALLY -------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 1,072,200 (includes shares held of record by
the Robertson Stephens Orphan Fund of which
Robertson, Stephens & Co. Investment
Management, L.P. and Bayview Investors, Ltd.
are the General Partners. See Item 5.)
REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
0
-------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,072,200
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,072,200
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.4%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IV
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

<PAGE>

The Robertson Stephens Orphan Offshore Fund
Tax I.D.
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

Cayman Islands
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 214,600
REPORTING --------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
214,600
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
214,600
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IV
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
*SEE INSTRUCTION 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>

The Robertson Stephens Global Low-Priced Stock Fund
Tax I.D.
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

United States
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 72,400
REPORTING --------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------
(10) SHARED DISPOSITIVE POWER
72,400
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,400
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.7%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IV
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
*SEE INSTRUCTION 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>

Robertson, Stephens & Company Investment Management L.P.
Tax I.D. 94-3181687
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

OO (Working Capital of Purchasing Funds) See Item 2.
- -------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
0
-------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,359,200
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,359,200
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

<PAGE>

Robertson, Stephens & Company, Incorporated
Tax I.D. 94-3172874 See Exhibit A for a list of Executive Officers
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

<PAGE>

Paul Stephens
Tax I.D. ###-##-####
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

WC & PF
- -------------------------------------------------------------------------------
(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)

- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

UNITED STATES
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES 96,880
BENEFICIALLY -------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 1,359,200 includes shares held of record by
The Robertson Stephens Orphan Fund of which
Robertson, Stephens & Co. Investment
Management, L.P. and Bayview Investors, Ltd.
are the General Partners. Includes shares
held of record by The Robertson Stephens
Orphan Offshore Fund of which Robertson,
Stephens & Co. Investment Management, L.P. is
the General Partner. Included shares held of
record by the Robertson Stephens Global
Low-Priced Stock Fund of which Robertson
Stephens & Co Investment Management L.P. is
investment adviser. See Item 5.)

REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
96,880
-------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,359,320
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,456,080
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.1%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

<PAGE>

Sanford Robertson
Tax I.D. ###-##-####
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

CALIFORNIA
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES 11,620
BENEFICIALLY -------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 1,359,200 includes shares held of record by
The Robertson Stephens Orphan Fund of which
Robertson, Stephens & Co. Investment
Management, L.P. and Bayview Investors, Ltd.
are the General Partners. Includes shares
held of record by The Robertson Stephens
Orphan Offshore Fund of which Robertson,
Stephens & Co. Investment Management, L.P. is
the General Partner. Included shares held of
record by the Robertson Stephens Global
Low-Priced Stock Fund of which Robertson
Stephens & Co Investment Management L.P. is
investment adviser. See Item 5.)

REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
11,620
-------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,359,200
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,370,820
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.3%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

<PAGE>

Michael G. McCaffery
Tax I.D. ###-##-####
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

CALIFORNIA
- -------------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
SHARES
BENEFICIALLY -------------------------------------------------
OWNED (8) SHARED VOTING POWER
BY EACH 1,359,200 includes shares held of record by
The Robertson Stephens Orphan Fund of which
Robertson, Stephens & Co. Investment
Management, L.P. and Bayview Investors, Ltd.
are the General Partners. Includes shares
held of record by The Robertson Stephens
Orphan Offshore Fund of which Robertson,
Stephens & Co. Investment Management, L.P. is
the General Partner. Included shares held of
record by the Robertson Stephens Global
Low-Priced Stock Fund of which Robertson
Stephens & Co Investment Management L.P. is
investment adviser. See Item 5.)

REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER

-------------------------------------------------
(10) SHARED DISPOSITIVE POWER
1,359,200
- -------------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,359,200
- -------------------------------------------------------------------------------
(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
- -------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
- --------------------------------------------------------------------------------

<PAGE>

G. Randy Hecht
Tax I.D. ###-##-####
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER

<PAGE>

Kennith R. Fitzsimmons
Tax I.D. ###-##-####
- -------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /

(b) /X/
- -------------------------------------------------------------------------------
(3) SEC USE ONLY

- -------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*

- -------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION

REPORTING -------------------------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER

<PAGE>

ITEM 1. SECURITY AND ISSUER.

This Schedule 13D is filed with respect to the Common Stock of CD
Radio Inc. (The "Company").

ITEM 2: IDENTITY AND BACKGROUND.

The Schedule 13D is filed on behalf of The Robertson Stephens Orphan
Fund, Robertson, Stephens & Company Investment Management, L.P. ("RS&Co.,L.P."),
Bayview Investors, Ltd. ("Bayview"), The Robertson Stephens Orphan Offshore
Fund, Robertson, Stephens & Company, Inc. ("RS&Co., Inc."), The Robertson
Stephens Global Low-Priced Stock Fund and RS&Co., Inc.'s five shareholders,
Messrs. Sanford R. Robertson, Paul H. Stephens, Michael G. McCaffery, G. Randy
Hecht, and Kenneth R. Fitzsimmons. The purchase of the Company's shares giving
rise to this 13D was made by three investment funds, The Robertson Stephens
Orphan Fund, The Robertson Stephens Orphan Offshore Fund and the Robertson
Stephens Global Low-Priced Stock Fund.

This Schedule 13D relates to the direct beneficial ownership in the
shares of the Company by the Funds, and the indirect beneficial ownership of
RS&Co., L.P., Bayview, and RS&Co., Inc. in the shares of the Company held by the
Funds. Messrs. Robertson, Stephens, McCaffery, Hecht and Fitzsimmons disclaim
any beneficial ownership with respect to shares of the Company that RS&Co., Inc.
may be deemed to be beneficially own, are included in this Schedule 13D for
protective disclosure purposes only, and shall not be deemed by their inclusion
in this Schedule 13D to have made any admission that any such person has any
beneficial interest in such shares.

Set forth below is the following information with respect to the
persons signing this Schedule 13D: name; place of organization; address of
principal business and office; principal business; information concerning
criminal convictions during the past five years; and information concerning
civil or administrative proceedings during the past five years with respect to
any state or federal securities laws.

I. (a) The Robertson Stephens Orphan Fund, L.P., is a California limited
partnership. Robertson Stephens & Co. Investment Management L.P. and
Bayview Investors LTD. are the General Partners.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

II (a) The Robertson Stephens Orphan Offshore Fund is a Cayman Islands
limited partnership. Robertson, Stephens & Co Investment Management
L.P. is the General Partner.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

<PAGE>

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

III.(a) Robertson Stephens Global Low-Priced Stock Fund, A Massachusetts
Business Trust. The Registered Investment Manager of The Robertson
Stephens Global Low-Priced Stock Fund is: Robertson, Stephens & Co.
Investment Management, L.P. The General Partner of Robertson,
Stephens & Co. Investment Management, L.P. is Robertson, Stephens &
Company, Incorporated.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

IV. (a) Bayview Investors LTD., is a California limited partnership.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

V. (a) Robertson, Stephens & Company, Incorporated, is a California
Corporation. Robertson, Stephens & Company, Incorporated is the
General Partner of Robertson, Stephens & Company Investment
Management, L.P.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

VI. (a) Paul H. Stephens.

(b) 555 California Street, Suite 2600

<PAGE>

San Francisco, CA 94104

(c) Paul H. Stephens is Managing Director and Chief Investment Officer,
and a shareholder, of Robertson, Stephens & Company, Incorporated.

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

VII. (a) Sanford R. Robertson.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

VIII.(a) Michael G. McCaffery.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(c) Michael G. McCaffery is the President and Chief Executive Officer, and
a shareholder, of Robertson, Stephens & Company, Incorporated.

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

IX (a) G. Randy Hecht.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(c) G. Randy Hecht is the Executive Vice President, Chief Operating
Officer, and shareholder of Robertson, Stephens & Company,
Incorporated.

<PAGE>

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

X. (a) Kenneth R. Fitzsimmons.

(b) 555 California Street, Suite 2600
San Francisco, CA 94104

(c) Kenneth R. Fitzsimmons is the Managing Director, Director of Capital
Markets, and shareholder of Robertson, Stephens & Company,
Incorporated.

(d) No convictions in criminal proceedings.

(e) No civil or administrative proceedings.

ITEM 3: SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION:

The securities with respect to which this Schedule 13D is filed were
purchased by the Funds using working capital contributed by their respective
partners and shareholders.

ITEM 4: PURPOSE OF TRANSACTION:

The securities with respect to which this Schedule 13D is filed were
purchased by the Funds in the ordinary course of investment and not with the
intention nor effect of changing or influencing control of the Issuer. The
reporting persons may sell all or part or acquire additional securities of the
Issuer depending on market conditions and other economic factors.

ITEM 5: INTEREST IN SECURITIES OF THE ISSUER.

(a) (b) The aggregate number and percentage of the class of
securities identified pursuant to Item 1 of this Schedule 13D that are
beneficially owned by the persons listed in Item 2 are as follows:
<TABLE>
<CAPTION>

No. of Shares
Name of Beneficially Percentage of
Beneficial Owner Owned Class(1)
----------------------------------------------------------------------------------------
<S> <C> <C>
The Robertson Stephens Orphan Fund 1,072,200(2) 10.4%
The Robertson Stephens Orphan Offshore Fund 214,600(3) 2.1%
The Robertson Stephens Global Low-Priced Stock Fund 72,400(4) .7%
Robertson Stephens & Co Investment Mngmnt L.P. 1,359,200(5) 13.2%
Bayview Investors LTD 1,072,200 (6) 10.4%
Robertson Stephens & Co. Incorporated 1,359,200(7) 13.2%
Paul H. Stephens 1,456,080(8) 14.1%
Sanford R. Robertson 1,370,820(9) 13.3%
Michael G. McCaffery 1,359,200(10) 13.2%
G. Randy Hecht 1,359,200(11) 13.2%
Kenneth R. Fitzsimmons 1,359,200(12) 13.2%
</TABLE>

<PAGE>

(1) All percentages in this table are based, pursuant to Rule 13D-1(e) of the
Securities Exchange Act of 1934, as amended, on 10,300,000 shares of Common
Stock of the Issuer outstanding as of March 12, 1997.

(2) The Robertson Stephens Orphan Fund is a California limited partnership.

(3) The Orphan Offshore Fund is a Cayman Islands limited partnership.

(4) The Robertson Stephens Global Low-Priced Stock Fund is a registered
investment company. Robertson, Stephens & Co. Investment Management L.P. is
the registered investment manager for the Global Low-Priced Stock Fund.
RS&Co., Inc. is the General Partner of Robertson Stephens & Co. Investment
Management L.P.

(5) Robertson, Stephens & Co.Investment Management L.P., a California Limited
Partnership, as General Partner of The Robertson Stephens Orphan Fund and
the Orphan Offshore Fund, and is deemed to have shared dispositive power
over 1,359,200 shares of the Company.

(6) Bayview Investors, Ltd. is a California Limited Partnership, and as General
Partner of The Robertson Stephens Orphan Fund and is deemed to have shared
dispositive power over 1,072,200 shares of the Company.

(7) Robertson, Stephens & Company, Inc., a California Corporation, is the
General Partner of Robertson, Stephens & Company Investment Management
L.P., and as such is deemed to have shared dispositive power over 1,359,200
shares of the Company.

(8) Paul H. Stephens is the Chief Investment Officer of RS&Co., Inc. and as
such may be deemed to have shared voting power over 1,359,200 shares of the
Company held by the Funds as well as sole voting power over 96,880
shares held personally. He is also a shareholder of Robertson, Stephens
& Company Inc.

(9) Sanford R. Robertson is Chairman and a shareholder of Robertson, Stephens &
Company Inc. and as such may be deemed to have shared voting power over
1,359,200 shares of the Company held by the Funds as well as sole voting
power over 11,620 shares held personally.

(10) Michael G. McCaffery is President and Chief Executive Officer and a
shareholder of Robertson, Stephens & Company Inc. and as such may be deemed
to have shared voting power over 1,359,200 shares of the Company held by
the Funds.

(11) G. Randy Hecht is Executive Vice President, Chief Operating Officer and a
shareholder of Robertson, Stephens & Company Inc. and as such may be deemed
to have shared voting power over 1,359,200 shares of the Company held by
the Funds.

(12) Kenneth R. Fitzsimmons is the Managing Director, Director of Capital
Markets and a shareholder of Robertson, Stephens & Company Inc. and as
such may be deemed to have shared voting power over1,359,200 shares of the
Company held by the Funds.

<PAGE>

Entity Date Shares Price Transaction
------ ---- ------ ----- -----------
Orphan 3/31/97 11,400 8.19 open mkt purchase
Offshore
Global Low- 3/31/97 11,400 8.19 open mkt purchase
Priced Stock
Fund
Orphan 4/2/97 3,200 12.59 open mkt purchase
Offshore
Orphan 4/2/97 70,000 13.27 open mkt purchase
Offshore
Orphan 4/3/97 17,500 12.13 open mkt purchase
Offshore
Orphan 4/3/97 7,500 11.50 open mkt purchase
Offshore
Orphan 4/4/97 11,500 11.40 open mkt. purchase
Offshore
Orphan 4/4/97 12,500 11.50 open mkt purchase
Offshore
Orphan 4/4/97 7,500 11.54 open mkt purchase
Offshore
Orphan 4/8/97 3,600 11.23 open mkt purchase
Offshore

Orphan 4/9/97 2,500 11.31 open mkt purchase
Offshore

Orphan 4/9/97 4,900 11.39 open mkt purchase
Offshore
Orphan 4/9/97 3,400 11.21 open mkt purchase
Offshore

Orphan Fund 4/2/97 15,300 12.59 open mkt purchase

Orphan Fund 4/2/97 330,000 13.27 open mkt purchase
Orphan Fund 4/3/97 85,100 12.13 open mkt purchase

Orphan Fund 4/3/97 17,500 11.50 open mkt purchase

Orphan Fund 4/6/97 11,500 11.40 open mkt purchase
Orphan Fund 4/6/97 12,500 11.50 open mkt purchase

Orphan Fund 4/6/97 7,500 11.54 open mkt purchase

Orphan Fund 4/7/97 50,000 11.78 open mkt purchase
Orphan Fund 4/7/97 4,000 11.69 open mkt purchase
Orphan Fund 4/7/97 7,000 11.77 open mkt purchase
Orphan Fund 4/8/97 17,000 11.23 open mkt purchase
Orphan Fund 4/9/97 17,500 11.31 open mkt purchase

Orphan Fund 4/9/97 35,100 11.39 open mkt purchase

<PAGE>

Orphan Fund 4/9/97 24,300 11.21 open mkt purchase
Orphan Fund 4/10/97 15,200 12.24 open mkt purchase

Orphan 4/10/97 2,300 12.24 open mkt purchase
Offshore
Orphan Fund 4/10/97 1,700 12.50 open mkt purchase
Orphan 4/10/97 300 12.50 open mkt purchase
Offshore
Orphan Fund 4/10/97 95,700 12.34 open mkt purchase

Orphan 4/10/97 14,300 12.34 open mkt purchase
Offshore

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.

Please refer to Item 5.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.

The following exhibits are filed herewith:

Exhibit A - Agreement of Joint Filing

<PAGE>

ITEM 8. SIGNATURE PAGE.

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

Dated: April 10, 1997

THE ROBERTSON STEPHENS ORPHAN FUND, A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

THE ROBERTSON STEPHENS GLOBAL LOW-PRICED STOCK FUND, A REGISTERED
INVESTMENT COMPANY
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

BAYVIEW INVESTORS, LTD., A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

ROBERTSON, STEPHENS & COMPANY, L.P., A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

ROBERTSON, STEPHENS & COMPANY, INCORPORATED

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

Paul H. Stephens*
-----------------

<PAGE>

Paul H. Stephens

Sanford R. Robertson*
---------------------
Sanford R. Robertson

Michael G. McCaffery*
---------------------
Michael G. McCaffery

G. Randy Hecht*
---------------
G. Randy Hecht

Kenneth R. Fitzsimmons*
-----------------------
Kenneth R. Fitzsimmons

*By:
-----------------------------
Robert C. Greenwood
Pursuant to Power of Attorney
Previously Filed

<PAGE>

EXHIBIT A

AGREEMENT OF JOINT FILING

The undersigned hereby agree that they are filing jointly pursuant
to Rule 13d-1(f)(1) of the Act of the Statement dated January 31, 1997
containing the information required by Schedule 13D, for the Common Stock of
CD Radio, Inc. held by The Robertson Stephens Orphan Fund, Bayview Investors,
Ltd., Robertson, Stephens & Company, Investment Management L.P., and
Robertson, Stephens & Company, Incorporated.

Dated: April 10, 1997

THE ROBERTSON STEPHENS ORPHAN FUND, A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

THE ROBERTSON STEPHENS ORPHAN OFFSHORE FUND, A CAYMAN ISLANDS LIMITED
PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

BAYVIEW INVESTORS, LTD., A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

ROBERTSON, STEPHENS & COMPANY INVESTMENT MANAGEMENT, L.P., A
CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, Incorporated

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

<PAGE>

ROBERTSON, STEPHENS & COMPANY, INCORPORATED

By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer

Paul H. Stephens*
-----------------
Paul H. Stephens

Sanford R. Robertson*
---------------------
Sanford R. Robertson

Michael G. McCaffery*
---------------------
Michael G. McCaffery

G. Randy Hecht*
---------------
G. Randy Hecht

Kenneth R. Fitzsimmons*
-----------------------
Kenneth R. Fitzsimmons

*By
-----------------------------
Robert C. Greenwood
Pursuant to Power of Attorney
Previously Filed