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Cumulus Media Inc. (CMLS) Message Board

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    • Hi pjv,
      Please review and reply.
      Thanks,
      wazoo

      That is a SEC form similar to the Schedule 13D used to report a party's ownership of stock that is over 5% of the company. Schedule 13G is shorter and requires less information from the filing party. Ownership of over 5% in a publicly-traded stock is considered to be significant ownership, and therefore must be reported to the public.

      To be able to file a 13G instead of a 13D, the party must own between 5% and 20% in the company. It must also be clearly understood that the party acquiring the stake in the company is only a passive investor, and does not intend to exert control. If these criteria are not met, and if the size in the stake exceeds 20%, a 13D must be filed.

      Partial profile and resume:
      Richard A. Rubin is the Founder and Managing Member of Hawkeye Capital Management LLC, a provider of investment managing services, since November 1999. From August 2007 through June 2008, Mr. Rubin has served as a member of the Board of Director of Maxim Crane Works Holdings, Inc. Mr. Rubin served as a Director of Arch Wireless Inc., a wireless communications company from May 2003 through November 2004. From October 1989 to June 1996, Mr. Rubin was employed by Icahn & Co., Inc. Mr. Rubin is a certified public accountant and worked for Arthur Andersen LLP in its Audit and Corporate Finance Departments in New York from June 1986 through September 1989.

      Excerpt from article regarding Sears Canada attempting to take the company private:
      "This was a great day for minority shareholder rights in Canada," said
      Richard Rubin, Managing Partner of Hawkeye Capital Management, LLC. "Our goal was to ensure that Sears Canada remain a public company for the benefit of all of its shareholders and we have succeeded."

      In light of these events, Hawkeye, Knott Partners and Pershing Square
      have disbanded their group which was formed in April 2006 to oppose Sears
      Holdings' efforts to acquire the publicly owned shares of Sears Canada.

    • pjv2: What does the SEC document mean for CMLS? Good or bad? TIA

 
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