<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
MEDIA ARTS GROUP, INC.
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(Name of Issuer)
Common Stock, $.01 Par Value Per Share
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(Title of Class of Securities)
58439c 10 2
------------------------------------
(CUSIP Number)
Arthur E. Levine with a copy to:
President James W. Loss, Esq.
Levine Leichtman Capital Partners, Inc. Riordan & McKinzie
345 North Maple Drive, Suite 304 695 Town Center Drive, Suite 1500
Beverly Hills, California 90025 Costa Mesa, California 92626
(310) 275-5335 (714) 433-2626
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 24, 1998
-------------------------------------------------------
(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 the statement [ ].
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 copes 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 1 of 9
<PAGE> 2
SCHEDULE 13D
CUSIP No. 58439C 10 2 PAGE 2 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LEVINE LEICHTMAN CAPITAL PARTNERS, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
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7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0- (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0- (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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> 3
SCHEDULE 13D
CUSIP No. 58439C 10 2 PAGE 3 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LLCP California Equity Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0- (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0- (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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> 4
SCHEDULE 13D
CUSIP No. 58439C 10 2 PAGE 4 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Levine Leichtman Capital Partners, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0- (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0- (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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> 5
SCHEDULE 13D
CUSIP No. 58439C 10 2 PAGE 5 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arthur E. Levine
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0- (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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> 6
SCHEDULE 13D
CUSIP No. 58439C 10 2 PAGE 6 OF 9 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lauren B. Leichtman
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0- (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0- (See Item 5)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS 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> 7
This Amendment No. 5 to Schedule 13D (this "Amendment No. 5")
relates to the common stock, $.01 par value per share, CUSIP No. 58439c 10 2
(the "Common Stock"), of Media Arts Group, Inc., a Delaware corporation (the
"Issuer"), and amends the Schedule 13D, dated July 26, 1995 (the "Original
Filing"), as amended by Amendment No. 1 to Schedule 13D dated March 12, 1996
("Amendment No. 1"), as amended by Amendment No. 2 to Schedule 13D dated
February 21, 1997 ("Amendment No. 2"), as amended by Amendment No. 3 to
Schedule 13D dated October 21, 1997 ("Amendment No. 3") as amended by Amendment
No. 4 to Schedule 13D dated January 5, 1998 ("Amendment No. 4," and together
with the Original Filing, Amendment No. 1, Amendment No. 2, Amendment No. 3 and
Amendment No. 5, the "Filing"), and is filed pursuant to the Joint Reporting
Agreement previously filed as Exhibit 1 to the Original Filing, on behalf of
Levine Leichtman Capital Partners, L.P., a California limited partnership
("LLCP"), LLCP California Equity Partners, L.P., a California limited
partnership (the "General Partner"), Levine Leichtman Capital Partners, Inc., a
California corporation ("LLCP, Inc."), Arthur E. Levine ("Levine") and Lauren
B. Leichtman ("Leichtman", and together with LLCP, the General Partner, LLCP,
Inc. and Levine, the "Filing Persons").
Pursuant to Rule 13d-2(a), the Filing Persons hereby amend the Filing
as follows:
Item 5. Interest in Securities of The Issuer.
(a) As of January 6, 1998, the Filing Persons beneficially owned an
aggregate of 895,700 shares of the Common Stock. On February 20, 1998, LLCP
sold an aggregate of 6,000 shares of the Common Stock in an open market
transaction. On February 24, 1998, LLCP sold an additional 700,000 shares of
the Common Stock in an underwritten public offering pursuant to a registration
statement filed with the Securities and Exchange Commission (the "Public
Offering"), which resulted in a disposition by the Filing Persons of more than
1% of the Common Stock outstanding reported by the Issuer on its quarterly
report on Form 10-Q for the quarter ended December 31, 1997. Immediately
following the Public Offering, the Filing Persons ceased to be the beneficial
owners of more than 5% of the Common Stock. Beginning February 26, 1998
through February 27, 1998, LLCP sold the remaining 189,700 shares of the Common
Stock held by it in a series of open market transactions. As of February 27,
1998, the Filing Persons ceased to be the beneficial owners of the Common
Stock.
(b) No change.
(c) As required to be disclosed by Item 5(c) of the Instructions to
Schedule 13D, the following is a complete list of the sales of the Common Stock
made by LLCP since January 6, 1998, the date of the most recent sale of the
Common Stock by LLCP as reported on Amendment No. 4. Except for the 700,000
shares sold by LLCP to certain underwriters pursuant to the Public Offering,
each of the sales was conducted in an open market transaction.
<TABLE>
<CAPTION>
Date No. of Shares Sold Sale Price
---- ------------------ -----------
<S> <C> <C>
2/20/98 6,000 $13.50
2/24/98 700,000 $13.50
2/26/98 200 $13.19
2/26/98 12,000 $13.06
2/27/98 6,000 $13.06
2/27/98 12,000 $13.13
2/27/98 30,000 $13.38
</TABLE>
Page 7 of 9
<PAGE> 8
<TABLE>
<CAPTION>
Date No. of Shares Sold Sale Price
---- ------------------ -----------
<S> <C> <C>
2/27/98 50,000 $13.38
2/27/98 5,000 $13.44
2/27/98 5,000 $13.50
2/27/98 15,000 $13.56
2/27/98 700 $13.63
2/27/98 25,000 $13.50
2/27/98 5,000 $13.63
2/27/98 23,800 $13.81
</TABLE>
No other transactions by any of the Filing Persons with respect to the
Common Stock were effected since the filing of Amendment No. 4.
(d) Not applicable.
(e) The Filing Persons ceased to be the beneficial owners of more
than 5% of the Common Stock on February 24, 1998.
Page 8 of 9
<PAGE> 9
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: March 6, 1998
LEVINE LEICHTMAN CAPITAL PARTNERS, L.P.,
a California limited partnership
By: LLCP California Equity Partners, L.P.,
Its: General Partner
By: Levine Leichtman Capital Partners, Inc.,
Its: General Partner
By: /s/ ARTHUR E. LEVINE
--------------------------------------
Arthur E. Levine, President
LLCP CALIFORNIA EQUITY PARTNERS, L.P.,
a California limited partnership
By: Levine Leichtman Capital Partners, Inc.
Its: General Partner
By: /s/ ARTHUR E. LEVINE
--------------------------------------
Arthur E. Levine, President
LEVINE LEICHTMAN CAPITAL PARTNERS, INC.,
a California corporation
By: /s/ ARTHUR E. LEVINE
-------------------------------------------
Arthur E. Levine, President
/s/ ARTHUR E. LEVINE
-----------------------------------------------
ARTHUR E. LEVINE
/s/ LAUREN B. LEICHTMAN
-----------------------------------------------
LAUREN B. LEICHTMAN
Page 9 of 9
