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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): April 5, 1999
HEFTEL BROADCASTING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-24516 99-0113417
(State or other jurisdiction (Commission File Number) (IRS Employer
incorporation) Identification No.)
3102 Oak Lawn Avenue, Suite 215
Dallas, Texas 75219
(Address of principal (Zip Code)
executive offices)
Registrant's telephone number, including area code: (214) 525-7700
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(Former name or former address, if changed since last report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On April 5, 1999, Heftel Broadcasting Corporation (the "Company")
acquired the assets of KHOT(FM) serving the Phoenix market for $18.3
million from New Century Arizona, LLC and New Century Arizona License
Partnership.
The assets acquired consist of items of broadcasting and technical
equipment utilized in the transmission of radio signals, Federal
Communications Commission licenses and other items of personal
property associated with the operations of the broadcast facility.
The Company used cash generated from operating activities to fund
this acquisition.
The assets acquired by the Company were utilized by New Century
Arizona, LLC and New Century Arizona License Partnership for the
purpose of radio broadcasting. The Company intends to continue
such use.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT 10.1 Asset Purchase Agreement, dated January 27, 1999, by
and between New Century Arizona, LLC and New Century Arizona License
Partnership and Heftel Broadcasting Corporation (incorporated by
reference to Exhibit 10.24 to the Registrant's Form 10-K filed on
March 31, 1999).
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
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(Registrant)
By: /s/ Jeffrey T. Hinson
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Name: Jeffrey T. Hinson
Title: Chief Financial Officer
Dated: April 20, 1999
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INDEX TO EXHIBITS
Exhibit No. Description
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10.1 Asset Purchase Agreement, dated January 27, 1999, by and between
New Century Arizona, LLC and New Century Arizona License
Partnership and Heftel Broadcasting Corporation (incorporated by
reference to Exhibit 10.24 to the Registrant's Form 10-K filed on
March 31, 1999).
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