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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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): FEBRUARY 19, 1997
HEFTEL BROADCASTING CORPORATION
(Exact name of Registrant as specified in its charter)
DELAWARE 0-24516 99-0113417
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification Number)
incorporation)
100 CRESCENT COURT,
SUITE 1777 75201
DALLAS, TEXAS (Zip code)
(Address of principal
executive offices)
Registrant's telephone number, including area code: (214) 855-8882
6767 WEST TROPICANA AVENUE, SUITE 102
LAS VEGAS, NEVADA 89103
(former address if changed since last report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
In 1997, Heftel Broadcasting Corporation (the "Company") solicited
proposals from qualified firms of certified public accountants to
perform audit services beginning in calendar year 1997 for the
Company and its subsidiaries. On February 19, 1997, Ernst & Young
LLP, the Company's prior independent accountant was notified that
KPMG Peat Marwick LLP had been selected as the Company's new
independent accountants as a result of this process. The decision
to change accountants was approved by the Board of Directors of the
Company on February 19, 1997. Ernst & Young LLP served as the
independent accountants for the Company and its subsidiaries for
the fiscal years ended September 30, 1995 and 1996.
The independent auditors' reports of Ernst & Young LLP on the
consolidated financial statements of the Company and its
subsidiaries as of September 30, 1995 and 1996 and for each of the
two years in the period ended September 30, 1996, each expressed an
unqualified opinion and were not modified as to uncertainty, audit
scope or accounting principles. During the fiscal years ended
September 30, 1995 and 1996 and through February 18, 1997, there
were no reportable events (as defined in Regulation S-K, Item
304(a)(1)(v)) or disagreements with Ernst & Young LLP on any matter
of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure that were not resolved
to the satisfaction of Ernst & Young LLP.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 16.1 - Letter from Ernst & Young LLP regarding change of
certifying accountants.
ITEM 8. CHANGE IN FISCAL YEAR
On February 19, 1997, the Board of Directors of the Company voted
to change the Company's fiscal year from a September 30 year end to
a December 31 year end. The transition period is October 1, 1996
through December 31, 1996. The Form 10-Q for the quarterly period
ended December 31, 1996 has been amended to be a transition report
since it covers the transition period. The Form 10-K for the year
ended December 31, 1997 will include the separate audited financial
statements of Heftel Broadcasting Corporation and subsidiaries for
the transition period.
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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 thereunto duly authorized.
HEFTEL BROADCASTING CORPORATION
(Registrant)
By: /s/ Jeffrey T. Hinson
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Name: Jeffrey T. Hinson
Title: Chief Financial Officer
Date: February 25, 1997
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Index to Exhibits
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Exhibit No. Page
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16.1 Letter from Ernst & Young LLP regarding change of
certifying accountants
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[LETTERHEAD OF ERNST & YOUNG LLP]
February 24, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated February 19, 1997, of Heftel
Broadcasting Corporation and are in agreement with the statements contained in
the second paragraph of Item 4. We have no basis to agree or disagree with the
statements of the registrant contained in the first paragraph of Item 4.
/s/ ERNST & YOUNG LLP
