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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ASSOCIATED GROUP, INC.
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(Name of issuer)
CLASS A COMMON STOCK, PAR VALUE $0.10 PAR SHARE
CLASS B COMMON STOCK, PAR VALUE $0.10 PAR SHARE
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045651-10-6(CLASS A)
045651-20-5(CLASS B)
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(Cusip Number)
JULY 20, 1998
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant
to which this Schedule is filed:
[X] Rule 13d-(c) [ ] Rule 13d-1(d)
*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).
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CUSIP NOS. 045651-10-6(CLASS A) SCHEDULE 13G PAGE 2 OF 7 PAGES
045651-20-5(CLASS B)
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
JOEL M. GREENBLATT
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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5. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 37,000 (CLASS B)
EACH --------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
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8. SHARED DISPOSITIVE POWER
37,000 (CLASS B)
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,000 (CLASS B) *SEE ITEM 4
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.19% (CLASS B)
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12. TYPE OF REPORTING PERSON
IN
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CUSIP NOS. 045651-10-6(CLASS A) SCHEDULE 13G PAGE 3 OF 7 PAGES
045651-20-5(CLASS B)
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
GOTHAM CAPITAL V, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
DELEWARE
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5. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 37,000 (CLASS B)
EACH --------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
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8. SHARED DISPOSITIVE POWER
37,000 (CLASS B)
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
37,000 (CLASS B) *SEE ITEM 4
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.19%
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12. TYPE OF REPORTING PERSON
00-LIMITED LIABILITY COMPANY
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PAGE 4 OF 7 PAGES
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ITEM 1.
(a) Name of Issuer: Associated Group, Inc.
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(b) Address of Issuer's Principal Executive Offices:
200 Gateway Towers, Pittsburgh, PA. 15222
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ITEM 2.
(a) Name of Persons Filing:
(b) Address of Principal Business Office or, if none, Residence:
(c) Citizenship:
Joel M. Greenblatt
100 Jericho Quadrangle
Suite 212
Jericho, NY 11753
(United States Citizen)
Gotham Capital V, LLC
100 Jericho Quadrangle
Suite 212
Jericho, NY 11753
(Deleware limited liability company))
(d) Title of Class of Securities: Class A common stock, $0.10 par value
and Class B common stock,$0.10 par value
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(e) CUSIP Number: 045651-10-6 (Class A) and 045651-20-5 (Class B)
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of the Act
(d) [ ] Investment Company registered under section 8 of the Investment
Company Act of 1940
(e) [ ] Investment Adviser registered under section 203 of the Investment
Advisers Act
(f) [ ] Employee Benefit Plan, Pension fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see ss.240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with ss.240.13d-1(b)(ii)(G)
(Note: See Item 7)
(h) [ ] A Savings Association as defined in Section 3(b) of the Federal
Deposit Insurance Act
(i) [ ] A Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J)
If this statement is filed pursuant to ss.240.13d-1(c), check this box [ X ].
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PAGE 5 OF 7 PAGES
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ITEM 4. OWNERSHIP
JOEL M. GREENBLATT*
(a) Amount Beneficially Owned: 37,000 (Class B)
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(b) Percent of Class: 0.19% (Class B)
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(c) Number of shares as to which such person has:
(i)sole power to vote or to direct the vote: 0
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(ii)shared power to vote or to direct the vote: 37,000 (Class B)
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(iii)sole power to dispose or to direct the disposition of: 0
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(iv) shared power to dispose or to direct the disposition of: 37,000
(Class B)
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GOTHAM CAPITAL V, LLC
(a) Amount Beneficially Owned: 37,000 (Class B)
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(b) Percent of Class: .19%
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
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(ii) shared power to vote or to direct the vote: 37,000 (Class B)
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(iii)sole power to dispose or to direct the disposition of: 0
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(iv) shared power to dispose or to direct the disposition of: 37,000
(Class B)
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*SHARES REPORTED FOR JOEL M. GREENBLATT REFLECT SHARES BENEFICIALLY OWNED BY
GOTHAM CAPITAL V, LLC, OF WHICH MR. GREENBLATT IS THE SOLE MANAGER. GOTHAM V HAS
ALSO ENTERED INTO DERIVATIVE EQUITY SWAP TRANSACTIONS WITH THIRD PARTIES, THE
VALUE OF WHICH IS RELATED TO THE VALUE OF CLASS A AND CLASS B SHARES OWNED AND
CONTROLLED BY SUCH SWAP COUNTERPARTIES. AS OF THE DATE HEREOF, SUCH AGREEMENTS
RELATE TO AN AGGREGATE 975,200 CLASS B SHARES (5.05% CLASS B) AND AN AGGREGATE
52,300 CLASS A SHARES (0.28% CLASS A). THE TERMS, CONDITIONS AND NUMBER OF
SHARES SUBJECT TO SUCH ARRANGEMENTS WILL VARY FROM TIME-TO-TIME. VOTING AND
DISPOSITIVE POWER OVER SUCH SHARES OF CLASS A AND CLASS B COMMON STOCK WHICH ARE
THE SUBJECT OF THE ARRANGEMENTS IS RETAINED BY THE SWAP COUNTERPARTIES.
ACCORDINGLY, GOTHAM V AND JOEL GREENBLATT DISCLAIM BENEFICIAL OWNERSHIP OF ALL
SUCH SHARES OWNED BY THE SWAP COUNTERPARTIES.
Instruction: For computations regarding securities which represent a right to
acquire an underlying security see Rule 13d-3(d)(1).
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable
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PAGE 6 OF 7 PAGES
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ITEM 10. CERTIFICATION
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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PAGE 7 OF 7 PAGES
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I hereby
certify that the information set forth in this statement is true, complete and
correct.
Dated this 31th day of July, 1998.
GOTHAM CAPITAL V, LLC
By: /s/ Joel M. Greenblatt
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Joel M. Greenblatt
/s/ Joel M. Greenblatt
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Joel M. Greenblatt, Individually
