-----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, PqQlcH6lBEfr2klCc5BL9Bj0X9As3iZV+kVItYqfLDXWN/CCNoBbYADqhQtxj10w EMIigy96aacRMhBDSP10zQ== 0000891020-99-001034.txt : 19990618 0000891020-99-001034.hdr.sgml : 19990618 ACCESSION NUMBER: 0000891020-99-001034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990610 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990617 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACKERLEY GROUP INC CENTRAL INDEX KEY: 0000319120 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING [7310] IRS NUMBER: 911043807 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10321 FILM NUMBER: 99647961 BUSINESS ADDRESS: STREET 1: 1301 5TH AVE STREET 2: SUITE 4000 CITY: SEATTLE STATE: WA ZIP: 98101- BUSINESS PHONE: 2066242888 MAIL ADDRESS: STREET 1: 1301 FIFTH AVE STE 4000 CITY: SEATTLE STATE: WA ZIP: 98101 FORMER COMPANY: FORMER CONFORMED NAME: ACKERLEY INC DATE OF NAME CHANGE: 19830814 8-K 1 THE ACKERLEY GROUP EDGAR FORM 8-K 1 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): June 10, 1999 THE ACKERLEY GROUP, INC. (Exact name of registrant as specified in its charter) DELAWARE (State or other jurisdiction of incorporation) 1-10321 91-1043807 ---------------------- ----------------------- (Commission File Number) IRS Employer Identification No. 1301 Fifth Avenue, Suite 4000 Seattle, Washington 98101 (Address of principal executive offices) (zip code) Registrant's telephone number, including area code: (206) 624-2888 2 ITEM 5. OTHER EVENTS On June 10, 1999, The Ackerley Group, Inc., a Delaware corporation (the "Company"), announced. that it expects its results of operations for the second quarter of 1999 will be adversely affected by a charge related to its implementation of Digital CentralCasting(TM) and lower than previously anticipated revenue from NBA-related activities due in large part to the effect of the NBA lock-out. In connection with Digital CentralCasting(TM), the Company expects to recognize a reorganization charge of approximately $1.0 million in the second quarter 1999. In addition, the Company expects that its sports & entertainment segment's Operating Cash Flow (defined as net revenue less operating expenses before amortization, depreciation, interest, litigation, disposition of assets, and stock compensation expenses) for the second quarter of 1999 will be between $1.0 million and $2.0 million lower than its Operating Cash Flow for the same period in 1998. This is due to reduced revenues (after expenses) from Seattle SuperSonics missing the 1999 playoffs and lower than anticipated revenues from NBA-related activities due to the NBA lock-out offset, in part, by additional revenue (after expenses) generated by the extension of the 1999 regular season into the 1999 second quarter. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial statements. Not applicable. (b) Pro forma financial information. Not applicable. (c) Exhibits. (99) Press release issued by Company, dated June 10, 1999. 2 3 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 hereunto duly authorized. Dated: June 16, 1999 THE ACKERLEY GROUP, INC. By: /s/ KEITH W. RITZMANN -------------------------------------- Keith W. Ritzmann Senior Vice President and Chief Information Officer, Assistant Secretary and Controller 3 EX-99 2 PRESS RELEASE 1 EXHIBIT 99 FOR IMMEDIATE RELEASE FROM: THE ACKERLEY GROUP, INC., (206) 624-2888 Media Contact: Rosanne Marks, MWW/Savitt, (206) 689-8505 Analyst Contact: Dan Evans, Jr., Vice President Public Affairs Denis Curley, Co-President and Chief Financial Officer Leon Berman, The MWW Group, 1-800-724-7602 - ---------------------------------------------------------------- THE ACKERLEY GROUP ANNOUNCES SECOND QUARTER OPERATING CASH FLOW ADJUSTMENTS SEATTLE, June 10 -- The Ackerley Group (NYSE: AK), a leading media and entertainment company, today announced that it expects its results of operations for the second quarter of 1999 will be adversely affected by a charge related to its implementation of Digital CentralCasting(TM) and lower than previously anticipated revenue from NBA related activities due in large part to the effect of the NBA lock-out. In connection with Digital CentralCasting(TM), the company expects to recognize a reorganization charge of approximately $1.0 million in the second quarter 1999. In addition, the company expects that its Sports & Entertainment segment's Operating Cash Flow for the second quarter of 1999 will be between $1.0 million and $2.0 million lower than its Operating Cash Flow for the same period in 1998. This is due to reduced revenues (after expenses) from Seattle SuperSonics missing the 1999 playoffs and lower than anticipated revenues from NBA related activities due to the NBA lock-out offset, in part, by additional revenue (after expenses) generated by the extension of the 1999 regular season into the 1999 second quarter. The Ackerley Group is comprised of four operating segments, which contain a total of 22 independent media and entertainment operations. The Outdoor Media segment includes outdoor advertising in four major metropolitan markets. The Television Broadcasting segment owns, operates under management agreements, or has applications pending with the FCC for 13 stations in California, New York, Washington, Oregon and Alaska. The Radio Broadcasting segment owns and operates four radio stations in the Seattle-Tacoma market. The Sports & Entertainment segment includes Full House Sports & Entertainment, and the NBA's Seattle SuperSonics. Certain statements in this release set forth management's intentions, plans, beliefs, expectations or predictions of the future based on current facts and analyses. Actual results may differ materially from those indicated in such statements. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----