SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a).
(Amendment No. 5)(1)
VIDEO SERVICES CORPORATION (formerly, INTERNATIONAL POST LIMITED)
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
- --------------------------------------------------------------------------------
(Title of Class of Securities)
460181100
(CUSIP Number)
-------------------
Copy to:
<TABLE>
<S> <C>
Mr. Edward Grinacoff
21st Century Communications Partners, L.P. Morrison Cohen Singer & Weinstein, LLP
767 Fifth Avenue, 45th Floor 750 Lexington Avenue
New York, New York 10153 New York, New York 10022
Telephone (212) 754-8100 Telephone (212) 735-8600
</TABLE>
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 13, 1998
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following
box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following page(s))
- -----------------------
(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 Afiled@ for the purpose of Section 18 of the
Securities Exchange Act of 1934 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).
- 1 of 18 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Partners, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 779,726 shares 5.9%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 370,274 shares 2.8%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 779,726 shares 5.9%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
370,274 shares 2.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 2 of 18 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
21st Century Communications T-E Partners, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 265,296 shares 2.0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 884,704 shares 6.7%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 265,296 shares 2.0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
884,704 shares 6.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 3 of 18 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
21st Century Communications Foreign Partners, L.P.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 104,978 shares 0.8%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,045,022 shares 7.9%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 104,978 shares 0.8%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,045,022 shares 7.9%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 4 of 18 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Sandler Capital Management
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,696,000 shares 12.8%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,696,000 shares 12.8%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,696,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
12.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 5 of 18 -
<PAGE>
CUSIP
No. 460181100 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Michael J. Marocco
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,852,000 shares 14.0%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,852,000 shares 14.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,852,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
14.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 6 of 18 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
John Kornreich
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 20,000 shares 0.2%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,852,000 shares 14.0%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 20,000 shares 0.2%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,852,000 shares 14.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,852,000 shares
- --------------------------------------------------------------------------------
12 Check Box 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
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 7 of 18 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Harvey Sandler
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,852,000 shares 14.0%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,852,000 shares 14.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,852,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
14.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 8 of 18 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Andrew Sandler
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,852,000 shares 14.0%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,852,000 shares 14.0%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,852,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
14.0%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 9 of 18 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Barry Rubenstein
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,150,000 shares 8.7%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,150,000 shares 8.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 10 of 18 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Barry Fingerhut
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,150,000 shares 8.7%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,150,000 shares 8.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 11 of 18 -
<PAGE>
CUSIP
No. 46018110 13D
================================================================================
1 Names of Reporting Persons
I.R.S. Identification No. of Above Persons (Entities Only)
Irwin Lieber
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds* WC
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares 0 shares 0%
Beneficially ------------------------------------------------------------
Owned By 8 Shared Voting Power
Each 1,150,000 shares 8.7%
Reporting ------------------------------------------------------------
Person 9 Sole Dispositive Power
With 0 shares 0%
- --------------------------------------------------------------------------------
10 Shared Dispositive Power
1,150,000 shares 8.7%
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,150,000 shares
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.7%
- --------------------------------------------------------------------------------
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 12 of 18 -
<PAGE>
This statement, dated March 13, 1998, constitutes Amendment No. 5 to the
Schedule 13D, dated December 21, 1994, regarding the reporting persons'
ownership of common stock of Video Services Corporation (formerly, International
Post Limited) (the "Issuer").
The Schedule 13D is hereinafter referred to as the "Schedule." All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 5 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
by the reporting persons. It shall refer only to information which has
materially changed since the filing of the Schedule.
ITEM 1. Security and Issuer.
--------------------
(a) Video Services Corporation (formerly, International Post Limited)
240 Pegasus Avenue
Northvale, New Jersey 07647
ITEM 3. Source and Amount of Funds or Other Consideration.
--------------------------------------------------
The source of funds for the acquisition of the additional shares
of Common Stock was the general working capital of Sandler Associates and
various managed accounts.
Number of Purchase
Shares Price
--------- --------
Accounts Managed by SCM 500,000 $1,625,000
Sandler Associates 1,000 3,810
ITEM 4. Purpose of Transaction.
-----------------------
The reporting persons acquired their shares for the purposes of
investment.
The reporting persons do not have any plans or proposals which relate to
or would result in any of the actions set forth in subparagraphs (a) through (j)
of Item 4 of Schedule 13D.
ITEM 5. Interests in Securities of the Issuer.
--------------------------------------
(a) The following list sets forth the aggregate number and
percentage (based on 13,264,307 shares of Common Stock outstanding as reported
in the Issuer's Form 10-Q for the
- 13 of 18 -
<PAGE>
quarter ended December 31, 1997) of outstanding shares of Common Stock owned
beneficially by each reporting person named in Item 2, as of March 13, 1998:
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
21st Century Communications 1,150,000 (2) 8.7%
Partners, L.P.
21st Century Communications T-E 1,150,000 (3) 8.7%
Partners, L.P.
21st Century Communications Foreign 1,150,000 (4) 8.7%
Partners, L.P.
Sandler Capital Management 1,696,000 (5) 12.8%
Michael J. Marocco 1,852,000 (6,7) 14.0%
John Kornreich 1,872,000 (6,7,8) 14.1%
Harvey Sandler 1,852,000 (6,7) 14.0%
Andrew Sandler 1,852,000 (6,7) 14.0%
Barry Rubenstein 1,150,000 (6,9) 8.7%
Barry Fingerhut 1,150,000 (6,9) 8.7%
Irwin Lieber 1,150,000 (6,9) 8.7%
(b) By virtue of being the general partner of SIP and the manager
of certain accounts owning shares of Common Stock with respect to which SCM
exercises investment
- ------------------------
(2) 21st Century disclaims beneficial ownership of 265,296 shares of Common
Stock owned by T-E and 104,978 shares of Common Stock owned by Foreign.
(3) T-E disclaims beneficial ownership of 779,726 shares of Common Stock
owned by 21st Century and 104,978 shares of Common Stock owned by
Foreign.
(4) Foreign disclaims beneficial ownership of 779,726 shares of Common
Stock owned by 21st Century and 265,296 shares of Common Stock owned by
T-E.
(5) Includes 779,726 shares of Common Stock owned by 21st Century, 265,296
shares of Common Stock owned by T-E and 104,978 shares of Common Stock
owned by Foreign. SCM disclaims beneficial ownership of 546,000 shares
of Common Stock held in accounts managed by SCM.
(6) The reporting person disclaims beneficial ownership of these
securities, except to the extent of his equity interest therein.
(7) Includes 779,726 shares of Common Stock owned by 21st Century, 265,296
shares of Common Stock owned by T-E, 104,978 shares of Common Stock
owned by Foreign and 156,000 shares of Common Stock owned by Sandler
Associates. The reporting person disclaims beneficial ownership of
546,000 shares of Common Stock held in accounts managed by SCM.
(8) Includes 20,000 shares of Common Stock owned by J.K. Media L.P.
(9) Includes 779,726 shares of Common Stock owned by 21st Century, 265,296
shares of Common Stock owned by T-E and 104,978 shares of Common Stock
owned by Foreign.
- 14 of 18 -
<PAGE>
discretion, SCM may be deemed to have shared power to vote and to dispose of
1,696,000 shares of Common Stock, representing approximately 12.8% of the
outstanding Common Stock.
By virtue of being the sole shareholder of MJ DM Corp. and a
general partner of Sandler Associates, Michael J. Marocco may be deemed to have
shared power to vote and to dispose of 1,852,000 shares of Common Stock,
representing approximately 14.0% of the outstanding Common Stock.
By virtue of being the sole shareholder of Four JK Corp. and a
general partner of Sandler Associates, John Kornreich may be deemed to have
shared power to vote and to dispose of 1,852,000 shares of Common Stock,
representing approximately 14.0% of the outstanding Common Stock. By virtue of
being the general partner of JK Media L.P., John Kornreich may be deemed to have
sole power to vote and to dispose of 20,000 shares of Common Stock, representing
approximately 0.2% of the outstanding Common Stock.
By virtue of being the sole shareholder of ARH Corp. and a
general partner of Sandler Associates, Harvey Sandler may be deemed to have
shared power to vote and to dispose of 1,852,000 shares of Common Stock,
representing approximately 14.0% of the outstanding Common Stock.
By virtue of being a majority member of ALSI, LLC and a
general partner of Sandler Associates, Andrew Sandler may be deemed to have
shared power to vote and to dispose of 1,852,000 shares of Common Stock,
representing approximately 14.0% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of
InfoMedia, Barry Rubenstein may be deemed to have shared power to vote and to
dispose of 1,150,000 shares of Common Stock, representing approximately 8.7% of
the outstanding Common Stock.
By virtue of being a shareholder, officer and director of
InfoMedia, Irwin Lieber may be deemed to have shared power to vote and to
dispose of 1,150,000 shares of Common Stock, representing approximately 8.7% of
the outstanding Common Stock.
By virtue of being a shareholder, officer and director of
InfoMedia, Barry Fingerhut may be deemed to have shared power to vote and to
dispose of 1,150,000 shares of Common Stock, representing approximately 8.7% of
the outstanding Common Stock.
- 15 of 18 -
<PAGE>
(c) The following is a description of all transactions in the
shares of Common Stock by the persons identified in Item 2 of this Schedule 13D
effected from January 11, 1998 through March 13, 1998, inclusive:
On March 13, 1998, Sandler Capital Management purchased 200,000
shares of Common Stock of the Issuer from the President and Chief
Executive of the Issuer at a price of $3.25 per share in a private
transaction. In addition, on March 13, 1998, Sandler Capital
Management purchased 300,000 shares of Common Stock of the Issuer
from a principal shareholder of the Issuer at a price of $3.25 per
share in a private transaction.
(d) No other person has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of such
securities.
(e) Not applicable.
- 16 of 18 -
<PAGE>
Signature
---------
After reasonable inquiry and to the best of their knowledge and
belief, each of the undersigned hereby certifies that the information set forth
in this Schedule is true, complete, and correct.
Date: April 6, 1998
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/ Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/ Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: s/ Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
- 17 of 18 -
<PAGE>
s/ Michael J. Marocco
--------------------------------------
Michael J. Marocco
s/ John Kornreich
--------------------------------------
John Kornreich
s/ Harvey Sandler
--------------------------------------
Harvey Sandler
s/ Andrew Sandler
--------------------------------------
Andrew Sandler
s/ Barry Rubenstein
--------------------------------------
Barry Rubenstein
s/ Irwin Lieber
--------------------------------------
Irwin Lieber
s/ Barry Fingerhut
--------------------------------------
Barry Fingerhut
SANDLER CAPITAL MANAGEMENT
By: ARH Corp.
By: s/ Edward Grinacoff
----------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
- 18 of 18 -
