SC 13D 1 sbs-sched13d_1204.txt SPANISH BROADCASTING SYSTEM SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ---------------- SCHEDULE 13D (Rule 13d-101) (Amendment No. __________ )* Spanish Broadcasting System, Inc. ------------------------------------------------------------------------------ (Name of Issuer) Class A Common Stock ------------------------------------------------------------------------------ (Title of Class of Securities) 846425882 ----------------------------------------------------------------------------- (CUSIP Number) Sumner M. Redstone National Amusements, Inc. 200 Elm Street Dedham, Massachusetts 02026 Telephone: (781) 461-1600 with a copy to: Michael D. Fricklas, Esq. Viacom Inc. 1515 Broadway New York, New York 10036 Telephone: (212) 258-6000 ------------------------------------------------------------------------------ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 23, 2004 ------------------------------------------------------------------------------ (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 that 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 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 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). (Page 1 of 32 Pages) CUSIP No. 846425882 13D Page 2 of 32 Pages -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) SUMNER M. REDSTONE -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 11,400,000 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 11,400,000 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,400,000 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [-] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.3% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN -------------------------------------------------------------------------------- *SEE INSTRUCTIONS CUSIP No. 846425882 13D Page 3 of 32 Pages -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) National Amusements, Inc. I.R.S. Identification No. 04-2261332 -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Maryland -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 11,400,000 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 11,400,000 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,400,000 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [-] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.3% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS CUSIP No. 846425882 13D Page 4 of 32 Pages -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) NAIRI, Inc. I.R.S. Identification No. 04-3446887 -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 11,400,000 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 11,400,000 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,400,000 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [-] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.3% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS CUSIP No. 846425882 13D Page 5 of 32 Pages -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) VIACOM INC. I.R.S. Identification No. 04-2949533 -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 11,400,000 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 11,400,000 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,400,000 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [-] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.3% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS CUSIP No. 846425882 13D Page 6 of 32 Pages -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Infinity Broadcasting Corporation I.R.S. Identification No. 13-4142467 -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 11,400,000 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 11,400,000 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,400,000 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [-] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.3% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS CUSIP No. 846425882 13D Page 7 of 32 Pages -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Infinity Media Corporation I.R.S. Identification No. 13-2766282 -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 11,400,000 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 11,400,000 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,400,000 -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [-] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.3% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO -------------------------------------------------------------------------------- *SEE INSTRUCTIONS Page 8 of 32 Pages -------------------------------------------------------------------------------- Item 1. Security and Issuer. The class of equity securities to which this Statement on Schedule 13D relates is the Class A Common Stock, $.0001 par value per share (the "Class A Shares"), of Spanish Broadcasting System, Inc. (the "Issuer"), a Delaware corporation, with its principal executive office located at 2601 South Bayshore Drive, PH 2, Coconut Grove, Florida 33133, by virtue of the Reporting Persons' (as defined in Item 2 below) ownership of the Issuer's Series C Convertible Preferred Stock, $.002 par value per share, (the "Series C Shares"), which are convertible into Class A Shares on a one-for-twenty basis under certain circumstances and a warrant to purchase Series C Shares (the "Warrant"). The Warrant is more fully described in Item 6 below, which is incorporated herein by reference. The Class A Shares carry one vote per share and the Series C Shares carry twenty votes per share. -------------------------------------------------------------------------------- Item 2. Identity and Background. This Statement is filed by Mr. Sumner M. Redstone, National Amusements, Inc. ("NAI"), NAIRI, Inc. ("NAIRI"), Viacom Inc. ("Viacom"), Infinity Broadcasting Corporation ("IBC") and Infinity Media Corporation ("IMC") (collectively, the "Reporting Persons"). IMC, a Delaware corporation, has its principal office at 1515 Broadway, New York, New York 10036. IMC's principal business is the radio broadcasting business. 100% of the issued and outstanding stock of IMC is owned by IBC. IBC, a Delaware corporation, has its principal office at 1515 Broadway, New York, New York 10036 and its main asset is its ownership of IMC. 100% of the issued and outstanding stock of IBC is owned by Viacom. Viacom, a Delaware corporation, has its principal office at 1515 Broadway, New York, New York 10036 and is a diversified worldwide entertainment company. At October 29, 2004, approximately 71% of Viacom's voting Class A Common Stock, par value $.01 per share, and approximately 11% (on a combined basis) of Viacom's Class A Common Stock and non-voting Class B Common Stock, par value $.01 per share, were owned by NAIRI. NAIRI, a Delaware corporation, has its principal office at 200 Elm Street, Dedham, Massachusetts 02026 and its principal business is exhibiting motion pictures in the United States and holding the shares of Viacom Class A Common Stock and Class B Common Stock. 100% of the issued and outstanding stock of NAIRI is owned by NAI. NAI, a Maryland corporation, has its principal office at 200 Elm Street, Dedham, Massachusetts 02026. NAI's principal business is owning and operating movie theaters in the United States, the United Kingdom and South America and holding the common stock of NAIRI. Mr. Redstone is the controlling shareholder of NAI. Sumner M. Redstone is an individual whose business address is c/o National Amusements, Inc., 200 Elm Street, Dedham, Massachusetts 02026. Mr. Redstone's principal occupation is Chairman of the Board and Chief Executive Officer of NAI, Chairman and President of NAIRI, and Chairman of the Board and Chief Executive Officer of Viacom. Page 9 of 32 Pages -------------------------------------------------------------------------------- The executive officers and directors of IMC, IBC, Viacom, NAIRI and NAI, as of December 23, 2004, are set forth on Schedules I through V attached hereto, containing the following information with respect to each such person: (a) Name; (b) Residence or business address; and (c) Present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted. During the last five years, none of the Reporting Persons or any person named in any of Schedules I through V attached hereto has been (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding 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 laws or finding any violation with respect to such laws. Except for Jan Leschly, who is a Danish citizen, all of the directors of IMC, IBC, Viacom, NAIRI and NAI, including Mr. Sumner M. Redstone, are citizens of the United States. -------------------------------------------------------------------------------- Item 3. Source and Amount of Funds or Other Consideration. The Issuer's Series C Shares and Warrant were acquired by the Reporting Persons pursuant to a Merger Agreement, dated October 5, 2004, among the Issuer, IMC, Infinity Broadcasting Corporation of San Francisco ("IBC-SF"), a wholly-owned subsidiary of IMC and SBS Bay Area, LLC, a wholly-owned subsidiary of the Issuer (the "Merger Agreement"), in exchange for all of the rights and obligations of IBC-SF including the Federal Communications Commission ("FCC") license for radio station 93.3 FM, serving the San Francisco, California market. -------------------------------------------------------------------------------- Item 4. Purpose of Transaction. IMC acquired the Series C Shares and Warrant for investment purposes. Except as set forth in Item 6 below, the Reporting Persons have no current plan or proposal which relates to, or would result in any actions enumerated in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Notwithstanding the foregoing, the Reporting Persons may, at any time and from time to time, purchase additional securities of the Issuer and may dispose of any and all Series C Shares held and issuable upon exercise of the Warrant and, upon conversion of the Series C Shares, any and all Class A Shares. The information set forth under Item 6 below is incorporated herein by reference. Page 10 of 32 Pages -------------------------------------------------------------------------------- Item 5. Interest in Securities of the Issuer. (a) and (b) IMC is the owner, with shared dispositive and voting power, of 380,000 Series C Shares and a Warrant to purchase 190,000 Series C Shares, or approximately 22.3% of the Issuer's issued and outstanding Class A Shares (based on 39,656,755 Class A Shares reported by the Issuer to be issued and outstanding as of November 8, 2004, and assuming the conversion of the Series C Shares and, upon exercise, the conversion of the Series C Shares underlying the Warrant). Upon conversion, each of the Series C Shares will convert into twenty fully paid and non-assessable Class A Shares. Accordingly, the 380,000 Series C Shares are convertible into 7,600,000 Class A Shares, in the aggregate, subject to adjustment, and the 190,000 Series C Shares issuable upon exercise of the Warrant are convertible into an additional 3,800,000 Class A Shares, in the aggregate, subject to adjustment. IBC is the beneficial owner, with shared dispositive and voting power, of 380,000 Series C Shares and a Warrant to purchase 190,000 Series C Shares, or approximately 22.3% of the Issuer's issued and outstanding Class A Shares (based on 39,656,755 Class A Shares reported by the Issuer to be issued and outstanding as of November 8, 2004, and assuming the conversion of the Series C Shares and, upon exercise, the conversion of the Series C Shares underlying the Warrant). Upon conversion, each of the Series C Shares will convert into twenty fully paid and non-assessable Class A Shares. Accordingly, the 380,000 Series C Shares are convertible into 7,600,000 Class A Shares, in the aggregate, subject to adjustment, and the 190,000 Series C Shares issuable upon exercise of the Warrant are convertible into an additional 3,800,000 Class A Shares, in the aggregate, subject to adjustment. Viacom is the beneficial owner, with shared dispositive and voting power, of 380,000 Series C Shares and a Warrant to purchase 190,000 Series C Shares, or approximately 22.3% of the Issuer's issued and outstanding Class A Shares (based on 39,656,755 Class A Shares reported by the Issuer to be issued and outstanding as of November 8, 2004, and assuming the conversion of the Series C Shares and, upon exercise, the conversion of the Series C Shares underlying the Warrant). Upon conversion, each of the Series C Shares will convert into twenty fully paid and non-assessable Class A Shares. Accordingly, the 380,000 Series C Shares are convertible into 7,600,000 Class A Shares, in the aggregate, subject to adjustment, and the 190,000 Series C Shares issuable upon exercise of the Warrant are convertible into an additional 3,800,000 Class A Shares, in the aggregate, subject to adjustment. NAIRI is the beneficial owner, with shared dispositive and voting power, of 380,000 Series C Shares and a Warrant to purchase 190,000 Series C Shares, or approximately 22.3% of the Issuer's issued and outstanding Class A Shares (based on 39,656,755 Class A Shares reported by the Issuer to be issued and outstanding as of November 8, 2004, and assuming the conversion of the Series C Shares and, upon exercise, the conversion of the Series C Shares underlying the Warrant). Upon conversion, each of the Series C Shares will convert into twenty fully paid and non-assessable Class A Shares. Accordingly, the 380,000 Series C Shares are convertible into 7,600,000 Class A Shares, in the aggregate, subject to adjustment, and the 190,000 Series C Shares issuable upon exercise of the Warrant are convertible into an additional 3,800,000 Class A Shares, in the aggregate, subject to adjustment. NAI is the beneficial owner, with shared dispositive and voting power, of 380,000 Series C Shares and a Warrant to purchase 190,000 Series C Shares, or approximately 22.3% of the Issuer's issued and outstanding Class A Shares (based on 39,656,755 Class A Shares reported by the Issuer to be issued and outstanding as of November 8, 2004, and assuming the conversion of the Series C Shares and, Page 11 of 32 Pages -------------------------------------------------------------------------------- upon exercise, the conversion of the Series C Shares underlying the Warrant). Upon conversion, each of the Series C Shares will convert into twenty fully paid and non-assessable Class A Shares. Accordingly, the 380,000 Series C Shares are convertible into 7,600,000 Class A Shares, in the aggregate, subject to adjustment, and the 190,000 Series C Shares issuable upon exercise of the Warrant are convertible into an additional 3,800,000 Class A Shares, in the aggregate, subject to adjustment. As a result of his stock ownership in NAI, Mr. Sumner M. Redstone is deemed the beneficial owner, with shared dispositive and voting power, of 380,000 Series C Shares and a Warrant to purchase 190,000 Series C Shares, or approximately 22.3% of the Issuer's issued and outstanding Class A Shares (based on 39,656,755 Class A Shares reported by the Issuer to be issued and outstanding as of November 8, 2004, and assuming the conversion of the Series C Shares and, upon exercise, the conversion of the Series C Shares underlying the Warrant). Upon conversion, each of the Series C Shares will convert into twenty fully paid and non-assessable Class A Shares. Accordingly, the 380,000 Series C Shares are convertible into 7,600,000 Class A Shares, in the aggregate, subject to adjustment, and the 190,000 Series C Shares issuable upon exercise of the Warrant are convertible into an additional 3,800,000 Class A Shares, in the aggregate, subject to adjustment. Percentage of Overall Voting Power. Based on the total number of voting securities issued and outstanding on a combined basis (as of November 8, 2004, Class A Shares and Class B Common Stock, $.001 par value per share, each of which has ten(10) votes per share, and, as of the date hereof, Series C Shares), the Reporting Persons effectively have approximately 2.5% of the voting power of the Issuer, without taking into effect the exercise of the Warrant, and approximately 3.8% of the voting power of the Issuer assuming the exercise of the Warrant. (c) None (d) None (e) None -------------------------------------------------------------------------------- Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. On October 5, 2004, IMC entered into the Merger Agreement, pursuant to which, on December 23, 2004, IBC-SF merged with and into SBS Bay Area, with SBS Bay Area surviving (the "Merger"). Upon the Merger, SBS Bay Area acquired all of the rights and obligations of IBC-SF, including the FCC license of IBC-SF for radio station 93.3 FM, serving the San Francisco, California market. In connection with the Merger Agreement, in exchange for all of the outstanding shares of capital stock of IBC-SF, on December 23, 2004, the Issuer issued to IMC (i) 380,000 Series C Shares, which are convertible, under certain circumstances, into twenty shares each of the Issuer's Class A Shares; and (ii) the Warrant to purchase an additional 190,000 Series C Shares at an exercise price of $300 per share. The Series C Shares vote along with Class A Shares on an "as-converted basis." The description of the Merger Agreement is qualified in its entirety by reference to the Merger Agreement, Exhibit 2 to this Statement on Schedule 13D, and is incorporated herein by reference. Page 12 of 32 Pages -------------------------------------------------------------------------------- In connection with the Merger Agreement, the following additional agreements with respect to the Issuer's securities were entered into among the persons named in Item 2 and between such persons and any person with respect to any securities of the Issuer: o The Warrant to purchase 190,000 Series C Shares, exercisable at any time from December 23, 2004 until December 23, 2008, at an exercise price of $300 per share. The description of the Warrant is qualified in its entirety by reference to the Form of Warrant, Exhibit 3 to this Statement on Schedule 13D, and is incorporated herein by reference. o A stockholder agreement among the Issuer, IMC, and Raul Alarcon, Jr., the Issuer's Chairman of the Board, Chief Executive Officer and President, (the "Stockholder Agreement"),whereby, among other rights, IMC was granted (i) a right of first negotiation in the event that the Issuer decides to transfer to a third party any radio station that it controls in either the New York or Miami markets, (ii) a right to match any offer to purchase the Issuer's Miami stations during the one-year period beginning October 5, 2004, (iii) in the event Raul Alarcon, Jr., proposes to transfer a number of his shares, that in the aggregate would result in a change of control, a right of first negotiation and a tag-along right, and (iv) in the event the rules and regulations of the FCC permit a person affiliated with IMC to a seat on the board of directors of the Issuer without creating an "attributable interest" (as that term is defined under the rules and regulations of the FCC), IMC may appoint an observer to the Board of Directors of the Issuer and the Issuer agrees to discuss the possibility of nominating such a director. The description of the Stockholder Agreement is qualified in its entirety by reference to the Stockholder Agreement, Exhibit 4 to this Statement on Schedule 13D, and is incorporated herein by reference. o A registration rights agreement between the Issuer and IMC (the "Registration Rights Agreement"), pursuant to which, following a period of one year (or earlier if the Issuer takes certain actions), IMC may instruct the Issuer to file up to three registration statements with the Securities and Exchange Commission (the "SEC"), providing for the registration for resale of the Class A Shares issuable upon conversion of the Series C Shares upon demand of IMC. Under the terms of the Registration Rights Agreement, the Issuer has also agreed to grant "piggyback" registration rights to IMC for registered offerings which include the sale of shares by Raul Alarcon, Jr. Additionally, the Registration Rights Agreement stipulates that the Issuer will indemnify IMC against liability arising in connection with the resale of their shares registered in accordance with the terms of the registration rights agreement. The description of the Registration Rights Agreement is qualified in its entirety by reference to the Registration Rights Agreement, Exhibit 5 to this Statement on Schedule 13D, and is incorporated herein by reference. The information set forth under Item 4 above is incorporated herein by reference. Page 13 of 32 Pages -------------------------------------------------------------------------------- Item 7. Material to be Filed as Exhibits. 1. Joint Filing Agreement, dated December 23, 2004, among Infinity Media Corporation, Infinity Broadcasting Corporation, Viacom Inc., NAIRI, Inc., National Amusements, Inc. and Sumner M. Redstone (filed herewith). 2. Merger Agreement, dated as of October 5, 2004, among Spanish Broadcasting System, Inc., Infinity Media Corporation, Infinity Broadcasting Corporation of San Francisco and SBS Bay Area, LLC (incorporated by reference to Exhibit 10.1 filed with the Report on Form 8-K, dated October 12, 2004, filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). 3. Warrant, dated as of December 23, 2004, issued to IMC (incorporated by reference to Exhibit 4.2 filed with the Report on Form 8-K, dated December 27, 2004, filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). 4. Stockholder Agreement, dated October 5, 2004, among Infinity Media Corporation, Spanish Broadcasting System, Inc. and Raul Alarcon, Jr. (incorporated by reference to Exhibit 10.2 filed with the Report on Form 8-K, dated October 12, 2004 filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). 5. Registration Rights Agreement, dated as of December 23, 2004, between Spanish Broadcasting System, Inc. and Infinity Media Corporation (incorporated by reference to Exhibit 4.3 filed with the Report on Form 8-K, dated December 27, 2004, filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). -------------------------------------------------------------------------------- Page 14 of 32 Pages SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Pursuant to Rule 13d-1(k)(1), each of the undersigned agrees that this statement is filed on behalf of each of us. December 23, 2004 Infinity Media Corporation By: /s/ MICHAEL D. FRICKLAS ------------------------------------- Michael D. Fricklas Executive Vice President Infinity Broadcasting Corporation By: /s/ MICHAEL D. FRICKLAS ------------------------------------- Michael D. Fricklas Executive Vice President Viacom Inc. By: /s/ MICHAEL D. FRICKLAS ------------------------------------- Michael D. Fricklas Executive Vice President NAIRI, Inc. By: /s/ SUMNER M. REDSTONE ------------------------------------- Sumner M. Redstone Chairman and President National Amusements, Inc. By: /s/ SUMNER M. REDSTONE ------------------------------------- Sumner M. Redstone Chairman and Chief Executive Officer /s/ SUMNER M. REDSTONE ---------------------------------------- Sumner M. Redstone Individually Page 15 of 32 Pages EXHIBIT INDEX 1. Joint Filing Agreement, dated December 23, 2004, among Infinity Media Corporation, Infinity Broadcasting Corporation, Viacom Inc., NAIRI, Inc., National Amusements, Inc. and Sumner M. Redstone (filed herewith). 2. Merger Agreement, dated as of October 5, 2004, among Spanish Broadcasting System, Inc., Infinity Media Corporation, Infinity Broadcasting Corporation of San Francisco and SBS Bay Area, LLC (incorporated by reference to Exhibit 10.1 filed with the Report on Form 8-K, dated October 12, 2004, filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). 3. Warrant, dated as of December 23, 2004 issued to IMC (incorporated by reference to Exhibit 4.2 filed with the Report on Form 8-K, dated December 27, 2004, filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). 4. Stockholder Agreement, dated October 5, 2004, among Infinity Media Corporation, Spanish Broadcasting System, Inc. and Raul Alarcon, Jr. (incorporated by reference to Exhibit 10.2 filed with the Report on Form 8-K, dated October 12, 2004 filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). 5. Registration Rights Agreement, dated as of December 23, 2004, between Spanish Broadcasting System, Inc. and Infinity Media Corporation (incorporated by reference to Exhibit 4.3 filed with the Report on Form 8-K, dated December 27, 2004, filed by Spanish Broadcasting System, Inc.) (File No. 000-27823). Page 16 of 32 Pages SCHEDULE I Name, business address and present principal occupation or employment of the directors and executive officers of Infinity Media Corporation DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Robert G. Freedline Viacom Inc. Senior Vice President and 1515 Broadway Treasurer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Michael D. Fricklas Viacom Inc. Executive Vice President, 1515 Broadway General Counsel and Secretary New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Susan C. Gordon Viacom Inc. Senior Vice President, 1515 Broadway Controller and Chief New York, NY 10036 Accounting Officer Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 17 of 32 Pages SCHEDULE I (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Infinity Media Corporation EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ John Sykes Infinity Radio Chief Executive Officer Chief Executive Officer 1515 Broadway Infinity Radio New York, NY 10036 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Joel Hollander Infinity Radio President and Chief Operating President and Chief 1515 Broadway Officer Operating Officer New York, NY 10036 Infinity Radio 1515 Broadway New York, NY 100369 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Richard J. Bressler Viacom Inc. Senior Executive Vice Senior Executive Vice 1515 Broadway President and Chief Financial President New York, NY 10036 Officer Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Michael D. Fricklas Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway General Counsel and Secretary President and New York, NY 10036 Viacom Inc. Secretary 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ William A. Roskin Viacom Inc. Executive Vice President, Senior Vice 1515 Broadway Human Resources and President New York, NY 10036 Administration Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Robert G. Freedline Viacom Inc. Senior Vice President and Vice President and 1515 Broadway Treasurer Treasurer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 18 of 32 Pages SCHEDULE I (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Infinity Media Corporation EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Jacques Tortoroli Infinity Radio Vice President, Finance and Vice President, Finance 1515 Broadway Chief Financial Officer and Chief Financial New York, NY 10036 Infinity Radio Officer 1515 Broadway New York, NY 100369 ----------------------- ------------------------- ------------------------------ Page 19 of 32 Pages SCHEDULE II Name, business address and present principal occupation or employment of the directors and executive officers of Infinity Broadcasting Corporation DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Robert G. Freedline Viacom Inc. Senior Vice President and 1515 Broadway Treasurer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Michael D. Fricklas Viacom Inc. Executive Vice President, 1515 Broadway General Counsel and Secretary New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Susan C. Gordon Viacom Inc. Senior Vice President, 1515 Broadway Controller and Chief New York, NY 10036 Accounting Officer Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 20 of 32 Pages SCHEDULE I (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Infinity Broadcasting Corporation EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ John Sykes Infinity Radio Chief Executive Officer Chief Executive Officer 1515 Broadway Infinity Radio New York, NY 10036 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Joel Hollander Infinity Radio President and Chief Operating President and Chief 1515 Broadway Officer Operating Officer New York, NY 10036 Infinity Radio 1515 Broadway New York, NY 100369 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Richard J. Bressler Viacom Inc. Senior Executive Vice Senior Executive Vice 1515 Broadway President and Chief Financial President New York, NY 10036 Officer Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Michael D. Fricklas Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway General Counsel and Secretary President and New York, NY 10036 Viacom Inc. Secretary 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ William A. Roskin Viacom Inc. Executive Vice President, Senior Vice 1515 Broadway Human Resources and President New York, NY 10036 Administration Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Robert G. Freedline Viacom Inc. Senior Vice President and Vice President and 1515 Broadway Treasurer Treasurer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 21 of 32 Pages SCHEDULE I (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Infinity Broadcasting Corporation EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Jacques Tortoroli Infinity Radio Vice President, Finance and Vice President, Finance 1515 Broadway Chief Financial Officer and Chief Financial New York, NY 10036 Infinity Radio Officer 1515 Broadway New York, NY 100369 ----------------------- ------------------------- ------------------------------ Page 22 of 32 Pages SCHEDULE III Name, business address and present principal occupation or employment of the directors and executive officers of Viacom Inc. ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ George S. Abrams c/o Wilmer Cutler Attorney Pickering Hale and c/o Wilmer Cutler Pickering Dorr LLP Hale and Dorr LLP 60 State Street 60 State Street Boston, MA 02109 Boston, MA 02109 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ David R. Andelman Lourie and Cutler Attorney 60 State Street Lourie and Cutler Boston, MA 02109 60 State Street Boston, MA 02109 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Joseph A. The National Center on Chairman of the Board and Califano, Jr. Addiction and Substance President Abuse at Columbia The National Center on University Addiction and Substance Abuse 633 Third Avenue, at Columbia University 19th Floor 633 Third Avenue, 19th Floor New York, NY 10017 New York, NY 10017 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ William S. Cohen The Cohen Group Chairman and Chief Executive 1200 19th Street, N.W. Officer Suite 400 The Cohen Group Washington, DC 20036 1200 19th Street, N.W. Suite 400 Washington, DC 20036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Philippe P. Dauman DND Capital Partners, Co-Chairman and Chief LLC Executive Officer 450 Park Avenue DND Capital Partners, LLC New York, NY 10022 450 Park Avenue New York, NY 10022 ----------------------- ------------------------- ------------------------------ Page 23 of 32 Pages SCHEDULE III (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Viacom Inc. DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Alan C. Greenberg Bear, Stearns & Co., Chairman of the Executive Inc. Committee 383 Madison Avenue, Bear, Stearns & Co., Inc. 5th Floor 383 Madison Avenue, 5th Floor New York, NY 10179 New York, NY 10179 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Jan Leschly Care Capital LLC Chairman and CEO 47 Hulfish Street, Care Capital LLC Suite 310 47 Hulfish Street, Suite 310 Princeton, NJ 08542 Princeton, NJ 08542 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Charles E. Oracle Corporation President Phillips, Jr. 500 Oracle Parkway Oracle Corporation Redwood Shores, CA 94065 500 Oracle Parkway Redwood Shores, CA 94065 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Shari E. Redstone National Amusements, Inc. President of National 200 Elm Street Amusements, Inc. and Dedham, MA 02026 Executive Vice President of NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Sumner M. Redstone Viacom Inc. Chairman of the Board and 1515 Broadway Chief Executive Officer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 24 of 32 Pages SCHEDULE III (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Viacom Inc. DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Frederic V. Salerno 400 Westchester Avenue, Retired 2nd Floor Not applicable White Plains, NY 10604 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ William Schwartz Cadwalader, Wickersham Counsel & Taft Cadwalader, Wickersham & Taft 100 Maiden Lane 100 Maiden Lane New York, NY 10038 New York, NY 10038 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Patty Stonesifer Bill and Melinda Gates Co-Chair and President Foundation Bill and Melinda Gates 1551 Eastlake Ave. East Foundation Seattle, WA 98102 1551 Eastlake Ave. East Seattle, WA 98102 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Robert D. Walter Cardinal Health, Inc. Chairman and Chief Executive 7000 Cardinal Place Officer Dublin, OH 43017 Cardinal Health, Inc. 7000 Cardinal Place Dublin, OH 43017 ----------------------- ------------------------- ------------------------------ Page 25 of 32 Pages SCHEDULE III (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Viacom Inc. EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Sumner M. Redstone Viacom Inc. Chairman of the Board and Chairman of the Board 1515 Broadway Chief Executive Officer and Chief Executive New York, NY 10036 Viacom Inc. Officer 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Thomas E. Freston Viacom Inc. Co-President and Co-Chief Co-President and 1515 Broadway Operating Officer Co-Chief Operating New York, NY 10036 Viacom Inc. Officer 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Leslie Moonves Viacom Inc. Co-President and Co-Chief Co-President and 1515 Broadway Operating Officer Co-Chief Operating New York, NY 10036 Viacom Inc. Officer 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Richard J. Bressler Viacom Inc. Senior Executive Vice Senior Executive Vice 1515 Broadway President and Chief Financial President and Chief New York, NY 10036 Officer Financial Officer Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Michael D. Fricklas Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway General Counsel and Secretary President, General New York, NY 10036 Viacom Inc. Counsel and Secretary 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 26 of 32 Pages SCHEDULE III (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Viacom Inc. EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Carl D. Folta Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway Corporate Relations President, Corporate New York, NY 10036 Viacom Inc. Relations 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Robert G. Freedline Viacom Inc. Senior Vice President and Senior Vice President 1515 Broadway Treasurer and Treasurer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Susan C. Gordon Viacom Inc. Senior Vice President, Senior Vice President, 1515 Broadway Controller and Chief Controller and Chief New York, NY 10036 Accounting Officer Accounting Officer Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Carol Melton Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway Government Relations President, Government New York, NY 10036 Viacom Inc. Relations 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ William A. Roskin Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway Human Resources and President, Human New York, NY 10036 Administration Resources and Viacom Inc. Administration 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 27 of 32 Pages SCHEDULE III (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of Viacom Inc. EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Martin M. Shea Viacom Inc. Executive Vice President, Executive Vice 1515 Broadway Investor Relations President, Investor New York, NY 10036 Viacom Inc. Relations 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 28 of 32 Pages SCHEDULE IV Name, business address and present principal occupation or employment of the directors and executive officers of NAIRI, INC. DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ George S. Abrams c/o Wilmer Cutler Attorney Pickering Hale and c/o Wilmer Cutler Pickering Dorr LLP Hale and Dorr LLP 60 State Street 60 State Street Boston, MA 02109 Boston, MA 02109 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ David R. Andelman Lourie and Cutler Attorney 60 State Street Lourie and Cutler Boston, MA 02109 60 State Street Boston, MA 02109 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Philippe P. Dauman DND Capital Partners, Co-Chairman and Chief LLC Executive Officer 9 West 57th Street DND Capital Partners, LLC New York, NY 10019 450 Park Avenue New York, NY 10022 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Brent D. Redstone c/o Showtime Networks Director of National Inc. Amusements, Inc. 1633 Broadway National Amusements, Inc. New York, NY 10019 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Shari E. Redstone National Amusements, Inc. President of National 200 Elm Street Amusements, Inc. and Executive Dedham, MA 02026 Vice President of NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ Page 29 of 32 Pages SCHEDULE IV (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of NAIRI, INC. DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Sumner M. Redstone Viacom Inc. Chairman of the Board and 1515 Broadway Chief Executive Officer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 30 of 32 Pages SCHEDULE IV (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of NAIRI, INC. EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Sumner M. Redstone Viacom Inc. Chairman of the Board and Chairman and 1515 Broadway Chief Executive Officer President New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Shari E. Redstone National Amusements, Inc. President of National Executive Vice 200 Elm Street Amusements, Inc. and Executive President Dedham, MA 02026 Vice President of NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Jerome Magner National Amusements, Inc. Vice President and Treasurer Vice President and 200 Elm Street of National Amusements, Inc. Treasurer Dedham, MA 02026 and NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Richard Sherman National Amusements, Inc. Vice President of National Vice President 200 Elm Street Amusements, Inc. and NAIRI, Dedham, MA 02026 Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ Page 31 of 32 Pages SCHEDULE V Name, business address and present principal occupation or employment of the directors and executive officers of National Amusements, Inc. DIRECTORS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ George S. Abrams c/o Wilmer Cutler Attorney Pickering Hale and c/o Wilmer Cutler Pickering Dorr LLP Hale and Dorr LLP 60 State Street 60 State Street Boston, MA 02109 Boston, MA 02109 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ David R. Andelman Lourie and Cutler Attorney 60 State Street Lourie and Cutler Boston, MA 02109 60 State Street Boston, MA 02109 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Philippe P. Dauman DND Capital Partners, Co-Chairman and Chief LLC Executive Officer 9 West 57th Street DND Capital Partners, LLC New York, NY 10019 450 Park Avenue New York, NY 10022 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Brent D. Redstone c/o Showtime Networks Director Inc. National Amusements, Inc. 1633 Broadway 200 Elm Street New York, NY 10019 Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Shari E. Redstone National Amusements, Inc. President of National 200 Elm Street Amusements, Inc. and Dedham, MA 02026 Executive Vice President of NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Sumner M. Redstone Viacom Inc. Chairman of the Board and 1515 Broadway Chief Executive Officer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ Page 32 of 32 Pages SCHEDULE V (Continued) Name, business address and present principal occupation or employment of the directors and executive officers of National Amusements, Inc. EXECUTIVE OFFICERS ----------------------- ------------------------- ------------------------------ Name Business Address Present Principal Occupation and Address of Employment ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Sumner M. Redstone Viacom Inc. Chairman of the Board and Chairman and Chief 1515 Broadway Chief Executive Officer Executive Officer New York, NY 10036 Viacom Inc. 1515 Broadway New York, NY 10036 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Shari E. Redstone National Amusements, Inc. President of National President 200 Elm Street Amusements, Inc. and Dedham, MA 02026 Executive Vice President of NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Jerome Magner National Amusements, Inc. Vice President and Treasurer Vice President and 200 Elm Street of National Amusements, Inc. Treasurer Dedham, MA 02026 and NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------ ----------------------- ------------------------- ------------------------------ Richard Sherman National Amusements, Inc. Vice President of National Vice President 200 Elm Street Amusements, Inc. and Vice Dedham, MA 02026 President of NAIRI, Inc. National Amusements, Inc. 200 Elm Street Dedham, MA 02026 ----------------------- ------------------------- ------------------------------