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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check this box if no longer subject to Section 16. Form 4 or Form 5 obli-
gations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Apollo Investment Fund IV, L.P.
(see attached)
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(Last) (First) (Middle)
Two Manhattanville Road
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(Street)
Purchase NY 10577
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
CD Radio, Inc. ("CDRD")
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3. IRS or Social Security Number of Reporting Person (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
10/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable Line)
[_] Form filed by one Reporting Person
[X] Form filed by More than one Reporting Person
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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* If the form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
Page 1 of 4
(Form 4-07/98)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Series B Preferred
Stock, par value
$.001 1/ 2/ $30.00 10/13/99 P 650,000 Present 11/15/11 Common 2,166,667 $65,000,000 650,000 D
Stock 1/ 2/
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Series B Preferred
Stock Put (obli-
gation to buy) 3/ $30.00 10/13/99 X 650,000 3/ 9/30/99 Common 2,166,667 $65,000,000 0 D
3/ Stock 3/
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Explanation of Responses:
1/ The amount reported relates to 650,000 shares of 9.2% Series B Junior
Cumulative Convertible Preferred Stock of CD Radio Inc. (the "Company")
which are convertible into 2,166,667 shares of Common Stock of the Company.
This amount includes 34,284 shares of Series B Preferred Stock owned by
Apollo Overseas Partners IV, L.P. ("Overseas IV") which are convertible
into 114,280 shares of Common Stock.
2/ Apollo Advisors IV, L.P. ("Advisors"), the managing general partner of
Apollo Investment Fund IV, L.P. ("AIF IV"), is also the managing general
partner of Overseas IV. Apollo Capital Management IV, Inc. ("Capital
Management IV") is the general partner of Advisors IV. Leon D. Black and
John J. Hannan are the directors and principal executive officers of
Capital Management IV. Apollo Management IV, L.P. ("Management IV") serves
as manager to AIF IV and to Overseas IV. AIF IV Management, Inc., ("AIF IV
Management") is the general partner of Management IV. Each of Advisors,
AIF IV, Overseas IV, Capital Management IV, Management IV, AIF IV
Management and Messrs. Black and Hannan and their respective affiliates
disclaims beneficial ownership of all shares of the Company in excess of
their respective pecuniary interests, if any, and this report shall not be
deemed an admission that any such person or entity is the beneficial owner
of, or has any pecuniary interest in, any such securities for the purposes
of Section 16 of the Securities Exchange Act of 1934, as amended, or for
any other purpose.
3/ Pursuant to that certain Stock Purchase Agreement, dated as of November 13,
1998, by and among the Company and AIF IV and Overseas IV (the
"Purchasers"), the Purchasers granted to the Company an option (the
"Option") to require the Purchasers to purchase (the "Purchase"), subject
to certain conditions, including there being no material adverse changes in
or prospectively affecting the business, management or condition, financial
or otherwise, of the Company and its subsidiaries, taken as a whole, at
any time before September 30, 1999, for an aggregate purchase price of
$65,000,000, an aggregate of 650,000 shares of Series B Preferred Stock,
par value $.001, of the Company. The Company exercised the Option prior
to its expiration, and the Purchase was completed on October 13, 1999.
The 650,000 shares of Series B Preferred Stock are convertible into
2,166,667 shares of Common Stock of the Company at any time prior to
November 15, 2011. In addition to the shares reported hereon, the
Purchasers collectively hold 1,350,000 shares of 9.2% Series A Junior
Cumulative Convertible Preferred Stock par value $.001 per share of the
Company, which shares are convertible into 4,500,000 Shares of Common
Stock of the Company at any time prior to November 15, 2011.
APOLLO INVESTMENT FUND IV, L.P.
By: APOLLO ADVISORS IV, L.P., its General Partner
By: APOLLO CAPITAL MANAGEMENT IV, INC., its General Partner
/s/ Michael D. Weiner November 9, 1999
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**Signature of Reporting Person Date
Name: Michael D. Weiner
Title: Vice President
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 4
Joint Filer Information
Name: Apollo Overseas Partners IV, L.P.
Address: c/o Apollo Advisors IV, L.P.
Two Manhattanville Road
Purchase, New York 10577
Designated Filer: Apollo Investment Fund IV, L.P.
Issuer & Ticker Symbol CD Radio, Inc. ("CDRD")
Date of Event Requiring Statement: 10/13/99
Signature: APOLLO OVERSEAS PARTNERS IV, L.P.
By: Apollo Advisors IV, L.P., general partner
By: Apollo Capital Management IV, Inc., general partner
By: /s/ Michael D. Weiner
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Name: Michael D. Weiner
Title: Vice President
Page 3 of 4
Joint Filer Information
Name: Apollo Advisors IV, L.P.
Address: Two Manhattanville Road
Purchase, New York 10577
Designated Filer: Apollo Investment Fund IV, L.P.
Issuer & Ticker Symbol CD Radio, Inc. ("CDRD")
Date of Event Requiring Statement: 10/13/99
Signature: APOLLO ADVISORS IV, L.P.
By: Apollo Capital Management IV, Inc., general partner
By: /s/ Michael D. Weiner
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Name: Michael D. Weiner
Title: Vice President
Page 4 of 4