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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 9, 1996
HEFTEL BROADCASTING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-24516 99-0113417
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
6767 West Tropicana Avenue, Suite 102
Las Vegas, Nevada 89103
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (702) 367-3322
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ITEM 5. OTHER EVENTS
a. Discontinuance of Network Operations On September 9, 1996,
the Company's Board of Directors approved a plan to discontinue the operations
of the radio network owned by the Company's wholly owned subsidiary Spanish
Coast-to-Coast, Ltd, dba, Cadena Radio Centro (CRC) effective August 5, 1996.
The estimated charge to operations during the quarter ended September 30, 1996
will be approximately $8.1 million, of which $6.5 million relates to non-cash
charges resulting from the write-off of goodwill and certain equipment. No
income tax expense or benefits will be recognized during fiscal year 1996 due
to the Company's availability of net operating loss carryforwards. CRC intends
to fulfill its contractual program obligations and is expected to cease
operating by December 31, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: September 23, 1996 HEFTEL BROADCASTING CORPORATION
By: /s/ John T. Kendrick
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John T. Kendrick
Senior Vice President and
Chief Financial Officer
