-----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, JV+qhpLbSPvTAKhz8yV0Z08D+KDpMBe0/gK7QvPOtIwz/MBzY4uFNMdTDiwt0/FC lyannJ8n9v0gqWJH8KDqYg== 0000950130-99-003903.txt : 19990705 0000950130-99-003903.hdr.sgml : 19990705 ACCESSION NUMBER: 0000950130-99-003903 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19990702 GROUP MEMBERS: BAY HARBOUR MANAGEMENT LC GROUP MEMBERS: BAY HARBOUR MANAGEMENT, L.C. GROUP MEMBERS: DOUGLAS P. TEITELBAUM GROUP MEMBERS: STEVEN A. VAN DYKE GROUP MEMBERS: TOWER INVESTMENT GROUP, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PEOPLES CHOICE TV CORP CENTRAL INDEX KEY: 0000903275 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] IRS NUMBER: 061366643 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-42913 FILM NUMBER: 99659065 BUSINESS ADDRESS: STREET 1: 2 CORPORATE DRIVE STE 249 CITY: SHELTON STATE: CT ZIP: 06484 BUSINESS PHONE: 2039257900 MAIL ADDRESS: STREET 2: TWO CORPORATE DR SUITE 249 CITY: SHELTON STATE: CT ZIP: 06484 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BAY HARBOUR MANAGEMENT LC CENTRAL INDEX KEY: 0001049310 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 593418243 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 777 SOUTH HARBOUR ISLAND BLVD CITY: TAMPA STATE: FL ZIP: 33602 BUSINESS PHONE: 8132721992 MAIL ADDRESS: STREET 1: 777 SOUTH HARBOUR ISLAND BLVD CITY: TAMPA STATE: FL ZIP: 33602 SC 13D/A 1 AMENDMENT NO. 1 SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D (Rule 13d-101) Amendment No. 1 INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(a) PEOPLE'S CHOICE TV CORP. (Name of Issuer) COMMON STOCK, $.01 par value per share (Title of Class of Securities) 710847104 (CUSIP Number) BAY HARBOUR MANAGEMENT, L.C. TOWER INVESTMENT GROUP, INC. STEVEN A. VAN DYKE 777 South Harbour Island Boulevard, Suite 270 Tampa, Florida 33602 (813) 272-1992 DOUGLAS P. TEITELBAUM 885 Third Avenue 34th Floor New York, New York 10022 (212) 371-2211 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 21, 1999 (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(e), 13d-1(f) or 13d-1(g), 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 Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on the following pages) (Page 1 of 8 Pages) - ----------------------- --------------------- CUSIP NO. 710847104 13D Page 2 of 8 Pages - ----------------------- --------------------- - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Steven A. Van Dyke I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO, PF - ------------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER -0- SHARES ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER 4,995 OWNED BY ----------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 4,995 - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,995 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.04% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON IN, HC - ------------------------------------------------------------------------------ - ----------------------- --------------------- CUSIP NO. 710847104 13D Page 3 of 8 Pages - ----------------------- --------------------- - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Douglas P. Teitelbaum I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER -0- SHARES ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER 4,995 OWNED BY ----------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 4,995 - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,995 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.04% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON IN, HC - ------------------------------------------------------------------------------ - ----------------------- --------------------- CUSIP NO. 710847104 13D Page 4 of 8 Pages - ----------------------- --------------------- - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Tower Investment Group, Inc. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 59-2924229 - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER 4,995 SHARES ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER -0- OWNED BY ----------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 4,995 ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER -0- - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,995 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.04% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON HC - ------------------------------------------------------------------------------ - ----------------------- --------------------- CUSIP NO. 710847104 13D Page 5 of 8 Pages - ----------------------- --------------------- - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON Bay Harbour Management, L.C. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 59-3418243 - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [X] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER 4,995 SHARES ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER -0- OWNED BY ----------------------------------------------------------- EACH REPORTING 9 SOLE DISPOSITIVE POWER 4,995 ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER -0- - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,995 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.04% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON IA - ------------------------------------------------------------------------------ Page 6 of 8 Pages This amendment No. 1 amends and supplements the Statement on Schedule 13D, originally filed with the U.S. Securities and Exchange Commission (the "SEC") on April 21, 1999 (the "Schedule 13D"), by Bay Harbour Management, L.C. ("Bay Harbour"), Tower Investment Group, Inc. ("Tower"), as the majority stockholder of Bay Harbour, Steven A. Van Dyke ("Van Dyke"), in his capacity as a stockholder and President of Tower, and Douglas P. Teitelbaum ("Teitelbaum"), in his capacity as a stockholder of Tower. Item 4. Purpose of Transaction. Item 4 is hereby amended in its entirety to read as follows: On April 12, 1999, the Reporting Persons entered into a Stockholder and Option Agreement (the "Option Agreement") with Sprint Corporation ("Sprint") pursuant to which the Reporting Persons granted Sprint an option (the "Option") to purchase their shares of PCTV Common Stock ("Option Shares") at a price equal to $8.00 per share of PCTV Common Stock, as adjusted if necessary ("Option Price"). Pursuant to the terms of the Option Agreement, the Option Price was adjusted to $10.00 per share of Common Stock as a result of Sprint entering into agreements with certain other shareholders of PCTV to acquire their PCTV Common Stock at a price of $10.00 per share. On May 21, 1999, Sprint purchased all of the Open Market Shares at a price of $10.00 per Share, for a total purchase price of $8,816,000, by exercising its Option under the Option Agreement. The above description of the Option Agreement and related matters set forth in this Item and in Item 6 are summaries, and are qualified in their entirety by reference to the complete text of such Option Agreement which was filed on April 21, 1999 as an exhibit to the Schedule 13D. Although the foregoing reflects activities presently contemplated by the Reporting Persons with respect to PCTV, the foregoing is subject to change at any time. Except as set forth above or in Item 6, the Reporting Persons have no present plans or intentions which would result in or relate to any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer. (a) As of the date hereof, (i) Van Dyke beneficially owns 4,995 shares of PCTV Common Stock, which represent approximately 0.04% of PCTV Common Stock outstanding, (ii) Teitelbaum beneficially owns 4,995 shares of PCTV Common Stock, which represent approximately 0.04% of PCTV Common Stock outstanding, (iii) Tower beneficially owns 4,995 shares of PCTV Common Stock, which represent approximately 0.04% of PCTV Common Stock outstanding and (iv) Bay Harbour beneficially owns 4,995 shares of PCTV Common Stock, which represent approximately 0.04% of PCTV Common Stock outstanding based upon 12,956,291 shares of PCTV Common Stock outstanding as of May 12, 1999 as set forth in a 10-K filed on May 12, 1999 with the SEC. For purposes of disclosing the number of shares beneficially owned by each of the Reporting Persons, (A) Van Dyke and Teitelbaum are deemed to beneficially own all shares of PCTV Common Stock that are beneficially owned by Tower and Bay Harbour and (B) Tower is deemed to beneficially own all shares of PCTV Common Stock that are beneficially owned by Bay Harbour. (b) Each Reporting Person has (i) the sole power to vote or direct the vote of the 4,995 shares of PCTV Common Stock held by Bay Harbour; and (ii) the sole power to dispose of or to direct the disposition of such 4,995 shares of PCTV Common Stock; except that Van Dyke and Teitelbaum share with each other their voting and disposition power. Page 7 of 8 Pages (c) Information Concerning transactions in the Shares of PCTV Common Stock by the Reporting Persons is set forth in Exhibit IV attached hereto, which is incorporated herein by reference. (d) The 4,995 shares of PCTV Common Stock held by Bay Harbour reported in this Statement are beneficially owned by Van Dyke, Teitelbaum, Tower and Bay Harbour for the benefit of certain investment partnerships and managed accounts over which Van Dyke, Teitelbaum, Tower and Bay Harbour control the power to (i) direct the voting of such shares of PCTV Common Stock and (ii) dispose of such shares of PCTV Common Stock. The limited partners of the investment partnerships and the investors in the managed accounts for which Bay Harbour acts as an investment adviser have the right to participate in the receipt of dividends from, or proceeds from the sale of, securities held by their funds or accounts, as the case may be. No such fund, single limited partner of any of such funds nor any investor in a managed account has the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, shares of PCTV Common Stock reported in this Schedule 13D representing more than five percent of the outstanding PCTV Common Stock. (e) As of May 21, 1999, the Reporting Persons ceased to be the beneficial owner of more than 5% of the Shares of PCTV Common Stock. Item 7. Material to be filed as Exhibits. Item 7 is hereby supplemented as follows: EXHIBIT IV Information concerning transactions in the Shares effected by ---------- the Reporting Persons since the filing of this Schedule 13D on April 21, 1999. Page 8 of 8 Pages SIGNATURES After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated as of: June 30, 1999 TOWER INVESTMENT GROUP, INC. By: /s/ Steven A. Van Dyke ----------------------------- Name: Steven A. Van Dyke Title: President BAY HARBOUR MANAGEMENT, L.C. By: /s/ Steven A. Van Dyke ----------------------------- Name: Steven A. Van Dyke Title: President /s/ Steven A. Van Dyke -------------------------------- STEVEN A. VAN DYKE /s/ Douglas P. Teitelbaum -------------------------------- DOUGLAS P. TEITELBAUM Exhibit Index ------------- EXHIBIT IV Information concerning transactions in the Shares effected by ---------- the Reporting Persons since the filing of this Schedule 13D on April 21, 1999. EX-99.IV 2 TRANSACTIONS IN SHARES EFFECTED BY REPORTING PERSON Exhibit IV
Name of Entity Date of Transaction Action Number of Shares Price Per Share - -------------- ------------------- ------ ---------------- --------------- Bay Harbour Management, L.C. 5/21/99 Sold 881,600 $10.00
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