-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, E78HqmakFRLDXyJ0M17LdTYtRzXQlyfynsMEoWbjOuJ2gGWiHq/dttKbStUo8xk9 vEY+f7riu1mNMmY1/NfLng== 0000916641-01-000140.txt : 20010212 0000916641-01-000140.hdr.sgml : 20010212 ACCESSION NUMBER: 0000916641-01-000140 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010209 GROUP MEMBERS: BBTC, INC. GROUP MEMBERS: LANDMARK BROADCASTING, INC. GROUP MEMBERS: LANDMARK COMMUNICATIONS INC GROUP MEMBERS: LANDMARK COMMUNICATIONS, INC. GROUP MEMBERS: LANDMARK TELEVISION, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PAXSON COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000923877 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 593212788 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-44331 FILM NUMBER: 1531188 BUSINESS ADDRESS: STREET 1: 601 CLEARWATER PK RD CITY: WEST PALM BEACH STATE: FL ZIP: 33401 BUSINESS PHONE: 5616594122 MAIL ADDRESS: STREET 1: 18401 US HWY 19 NORTH CITY: CLEARWATER STATE: FL ZIP: 34624 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LANDMARK COMMUNICATIONS INC CENTRAL INDEX KEY: 0000057606 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 150 BRAMBLETON AVE CITY: NORFOLK STATE: VA ZIP: 23510-2075 BUSINESS PHONE: 0000000000 MAIL ADDRESS: STREET 1: WILLKIE FARR & GALLAGHER STREET 2: 153 EAST 53RD ST CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 0001.txt SCHEDULE 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* Paxson Communications Corporation --------------------------------------------- (Name of Issuer) Class A Common Stock, $0.001 Par Value -------------------------------------------- (Title of Class of Securities) 704231109 ---------------------------------------------- (CUSIP Number) Guy R. Friddell, III, Executive Vice President and General Counsel Landmark Communications, Inc. 150 W. Brambleton Avenue Norfolk, Virginia 23510 (757) 446-2035 ------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 25, 2001 ------------------------------------------------ (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 [ ] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Ss. 240.13d-7(b) for other parties to whom copies 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). Schedule 13D CUSIP NO. 704231109 Page 2 of 14 Pages 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Landmark Communications, Inc. - ------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS N/A - ------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 4,007,297 BENEFICIALLY OWNED BY EACH -------------------------------------------------------------------------- REPORTING PERSON 8 SHARED VOTING POWER WITH 0 -------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 4,007,297 -------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,007,297 - ------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.2% - ------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------
Schedule 13D CUSIP NO. 704231109 Page 3 of 14 Pages 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Landmark Broadcasting, Inc. - ------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS N/A - ------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 4,007,297 BENEFICIALLY OWNED BY EACH ---------------------------------------------------------------------------- REPORTING PERSON 8 SHARED VOTING POWER WITH 0 ---------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 4,007,297 ---------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,007,297 - ------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.2% - ------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------
Schedule 13D CUSIP NO. 704231109 Page 4 of 14 Pages 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Landmark Television, Inc. - ------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS N/A - ------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Nevada - ------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 4,007,297 BENEFICIALLY OWNED BY EACH ----------------------------------------------------------------------------- REPORTING PERSON 8 SHARED VOTING POWER WITH 0 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 4,007,297 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,007,297 - ------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.2% - ------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------
Schedule 13D CUSIP NO. 704231109 Page 5 of 14 Pages 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BBTC, Inc. (formerly known as The Travel Channel, Inc.) - ------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS N/A - ------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Virginia - ------------------------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES 4,007,297 BENEFICIALLY OWNED BY EACH ----------------------------------------------------------------------------- REPORTING PERSON 8 SHARED VOTING POWER WITH 0 ----------------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 4,007,297 ----------------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,007,297 - ------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.2% - ------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------------------------
Schedule 13D CUSIP NO. 704231109 Page 6 of 14 Pages Introductory Note This Amendment No. 2 (as defined herein) is being filed by Landmark Communications, Inc., Landmark Broadcasting, Inc., Landmark Television, Inc. and BBTC, Inc. (f/k/a The Travel Channel, Inc.) (collectively, the "Reporting Persons") to update the Amended Statement (as defined herein) relating to the Class A Common Stock, $0.001 par value per share, of Paxson Communications Corporation, a Delaware corporation. Capitalized terms used herein but not otherwise defined herein shall have the respective meanings ascribed to them in the Amended Statement. Please refer to the Amended Statement for a detailed description of the corporate structure and affiliations of the Reporting Persons. Item 1. Security and Issuer Item 1 is hereby amended and restated in its entirety as follows: This Amendment No. 2 to Schedule 13D ("Amendment No. 2") relates to shares of Class A Common Stock, $0.001 par value per share (the "Class A Common Stock"), of Paxson Communications Corporation, a Delaware corporation (the "Issuer" or "Paxson"). This Amendment No. 2 supplementally amends the initial statement on Schedule 13D filed by the Reporting Persons dated July 11, 1997 (the "Initial Statement"), as amended by Amendment No. 1 to Schedule 13D filed by the Reporting Persons dated July 28, 1998 (the "Amended Statement" and, collectively with this Amendment No. 2, the "Statement"). The principal executive offices of the Issuer are located at 601 Clearwater Park Road, West Palm Beach, Florida 33401. Item 2. Identity and Background Item 2 is hereby amended by inserting the following at the end of Item 2 in the Amended Statement: For information required by instruction C to Schedule 13D with respect to the executive officers and directors of the Reporting Persons, reference is made to Schedule I annexed hereto and incorporated herein by reference. Item 5. Interest in Securities of the Issuer Item 5 is hereby amended and restated in its entirety as follows: (a) Each of the Reporting Persons may be deemed the beneficial owner of 4,007,297 shares of Class A Common Stock (approximately 7.2% of the total number of shares of Class A Common Stock outstanding as of October 30, 2000 (representing approximately 2.9% of the aggregate voting power of Paxson's outstanding Common Stock, which currently consists of Class A Common Stock and Class B Common Stock, par value $0.001 per share)). Except as disclosed in this Item 5(a), none of the Reporting Persons nor, to the best of their knowledge, any of their directors or executive officers beneficially owns any shares of Class A Common Stock. (b) Travel, as beneficial owner of record, may exercise sole power to vote and dispose of the 4,007,297 shares of Class A Common Stock reported herein. Each of Landmark, Broadcasting and Television, as direct or indirect owner of all equity interest in Travel, may be deemed to have sole power to direct the voting and disposition of the 4,007,297 shares of Class A Common Stock held by Travel. Schedule 13D CUSIP NO. 704231109 Page 7 of 14 Pages (c) Within the past sixty (60) days, Travel has effected the following transactions, all sales, with respect to the Class A Common Stock of Issuer:
Date of Sale Number of Shares Price - --------------------------------------- --------------------------- --------------------- 12/26/00 7,500 10.30 - ------------------------------------------------------------------------------------------- 12/27/00 5,000 10.25 - ------------------------------------------------------------------------------------------- 12/29/00 100,000 10.79 - ------------------------------------------------------------------------------------------- 01/02/00 20,000 11.46 - ------------------------------------------------------------------------------------------- 01/03/00 50,000 11.84 - ------------------------------------------------------------------------------------------- 01/04/01 131,500 11.78 - ------------------------------------------------------------------------------------------- 01/05/01 10,000 11.56 - ------------------------------------------------------------------------------------------- 01/05/01 2,000 11.50 - ------------------------------------------------------------------------------------------- 01/08/01 12,900 11.06 - ------------------------------------------------------------------------------------------- 01/09/01 22,100 11.08 - ------------------------------------------------------------------------------------------- 01/10/01 24,800 11.03 - ------------------------------------------------------------------------------------------- 01/11/01 114,500 11.19 - ------------------------------------------------------------------------------------------- 01/12/01 1,600 11.75 - ------------------------------------------------------------------------------------------- 01/16/01 40,000 11.85 - ------------------------------------------------------------------------------------------- 01/17/01 18,900 11.87 - ------------------------------------------------------------------------------------------- 01/22/01 200 11.50 - ------------------------------------------------------------------------------------------- 01/23/01 20,000 11.59 - ------------------------------------------------------------------------------------------- 01/24/01 60,000 11.89 - ------------------------------------------------------------------------------------------- 01/25/01 20,000 11.75 ===========================================================================================
Schedule 13D CUSIP NO. 704231109 Page 8 of 14 Pages Each of these sales was effected in a broker transaction at market. JP Morgan H&Q acted as Travel's broker. (d) None. (e) None. * * * * * Schedule 13D CUSIP NO. 704231109 Page 9 of 14 Pages After reasonable inquiry and to be the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 7, 2001 LANDMARK COMMUNICATIONS, INC. By: /s/ Guy R. Friddell, III ------------------------------------------- Guy R. Friddell, III Executive Vice President, General Counsel & Secretary LANDMARK BROADCASTING, INC. By: /s/ Guy R. Friddell, III ------------------------------------------- Guy R. Friddell, III Vice President & Secretary LANDMARK TELEVISION, INC. By: /s/ Richard A. Fraim ------------------------------------------- Richard A. Fraim Vice President, Secretary & Treasurer BBTC, INC. (formerly The Travel Channel, Inc.) By: /s/ Guy R. Friddell, III ------------------------------------------ Guy R. Friddell, III Vice President & Secretary Schedule 13D CUSIP NO. 704231109 Page 10 of 14 Pages SCHEDULE I TO AMENDMENT NO. 2 TO SCHEDULE 13D Information with Respect to Executive Officers and Directors of the Reporting Persons The following sets forth as to each of the executive officers and directors of the Reporting Persons: his or her name; his or her business address; and his or her present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted. Unless otherwise specified, the principal employer of each such individual is Landmark Communications, Inc., the business address of which is 150 W. Brambleton Avenue, Norfolk, Virginia 23510-2075, and each such individual identified below is a citizen of the United States. To the knowledge of the Reporting Persons, during the last five years, no such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and no such person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he or she was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with respect to such laws. Schedule 13D CUSIP NO. 704231109 Page 11 of 14 Pages
Landmark Communications, Inc. Name Present Business Address Present Principal Occupation ------------------------- ----------------------------------- ---------------------------- Directors: --------- Richard F. Barry, III Landmark Communications, Inc. Vice Chairman 150 W. Brambleton Avenue Norfolk, Virginia 23510-2075 Frank Batten, Jr. Landmark Communications, Inc. Chairman 150 W. Brambleton Avenue Norfolk, Virginia 23510-2075 Frank Batten Landmark Communications, Inc. Chairman of the Executive 150 W. Brambleton Avenue Committee Norfolk, Virginia 23510-2075 Frank A. Daniels 1515 Glenwood Avenue Retired President of News & Raleigh, North Carolina 27608 Observer Publishing Company James A. Henderson 301 Washington Street Retired Chairman & CEO, Columbus, Indiana 47201 Cummins Engine Company, Inc. Richard D. Roberts 1109 South Bay Shore Drive Retired President & CEO, Virginia Beach, Virginia 23451 Telecable Dorothy Batten Rolph Tall Oaks, Route 22 N/A Keswick, Virginia 22947 Howard H. Stevenson 245 Concord Avenue, #15 Professor, Harvard Graduate Cambridge, Massachusetts 02138 School John O. Wynne Landmark Communications, Inc. President & CEO 150 W. Brambleton Avenue Norfolk, Virginia 23510-2075 Executive Officers Not Otherwise Listed Above: --------------------------------------------- Guy R. Friddell, III Landmark Communications, Inc. Executive Vice President & 150 W. Brambleton Avenue General Counsel Norfolk, Virginia 23510-2075 Donald H. Patterson, Jr. Landmark Communications, Inc. Executive Vice President & 150 W. Brambleton Avenue President of Landmark Norfolk, Virginia 23510-2075 Broadcasting Lemuel E. Lewis Landmark Communications, Inc. Executive Vice President 150 W. Brambleton Avenue Norfolk, Virginia 23510-2075
Schedule 13D CUSIP NO. 704231109 Page 12 of 14 Pages
Landmark Broadcasting, Inc. Name Present Business Address Present Principal Occupation ---- ------------------------ ---------------------------- Directors: --------- Frank Batten, Jr. See above See above Guy R. Friddell, III See above See above Donald H. Patterson, Jr. See above See above John O. Wynne See above See above
Executive Officers*: ------------------- *This entity acts solely as a holding company and as such is not under the operation of executive officers. Schedule 13D CUSIP NO. 704231109 Page 13 of 14 Pages
Landmark Television, Inc. Name Present Business Address Present Principal Occupation ------------------------- ----------------------------------- ---------------------------- Directors: --------- J. William Diederich 3228 Channel 8 Drive President Las Vegas, Nevada 89109 Richard A. Fraim 3228 Channel 8 Drive Vice President, Treasurer & Las Vegas, Nevada 89109 Secretary Guy R. Friddell, III See above See above
Executive Officers*: ------------------- *This entity acts solely as a holding company and as such is not under the operation of executive officers. Schedule 13D CUSIP NO. 704231109 Page 14 of 14 Pages
BBTC, Inc. Name Present Business Address Present Principal Occupation ---- ------------------------ ---------------------------- Directors: --------- Richard F. Barry, III See above See above Frank Batten, Jr. See above See above Guy R. Friddell, III See above See above
Executive Officers*: ------------------- *This entity acts solely as a holding company and as such is not under the operation of executive officers. -----END PRIVACY-ENHANCED MESSAGE-----