SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):December 21, 2001
JONES MEDIA NETWORKS, LTD.
(Exact name of registrant as specified in its charter)
| Colorado | 333-62077 | 84-1470911 | ||
| (State of Organization) | (Commission File No.) | (IRS Employer Identification No.) |
9697 E. Mineral Avenue, Englewood, CO 80112
(Address of principal executive office and Zip Code)
Registrant's telephone number, including area code(303) 792-3111
In December 2001 and January 2002, Jones Media Networks, Ltd. (the "Company") borrowed an aggregate of $2,635,000 from the persons listed below in the amounts set forth next to their names (the "Loans") and issued warrants to purchase an aggregate of 368,900 shares of the Company's Class A Common Stock at $6.50 per share (the "Warrants") to the people listed below in the amounts set forth next to their names.
| Lender | Amount Borrowed | Number of Shares Subject to Warrants | |||
|---|---|---|---|---|---|
| Jones International, Ltd.* | $ | 2,500,000 | 350,000 | ||
| Ron Hartenbaum** | $ | 50,000 | 7,000 | ||
| Gary Schonfeld** | $ | 50,000 | 7,000 | ||
| Edie Hilliard** | $ | 25,000 | 3,500 | ||
| Jeffrey C. Wayne** | $ | 10,000 | 1,400 | ||
The terms of the Loans are as follows: (i) an interest rate of eleven and three quarters percent (11.75%); (ii) all payments are interest only until maturity; and (iii) three year term. The Warrants are for five years.
In connection with the loan from Jones International, Ltd., the Company obtained a fairness opinion from a third party.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JONES MEDIA NETWORKS, LTD. | ||||
Dated: January 31, 2002 | By: | /s/ JAY B. LEWIS Jay B. Lewis Group Vice President | ||
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