Exhibit 25.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY
OF A TRUSTEE PURSUANT TO SECTION 305(b)(2) ____
THE BANK OF NEW YORK
(EXACT NAME OF TRUSTEE AS SPECIFIED IN ITS CHARTER)
NEW YORK 13-5160382
JURISDICTION OF INCORPORATION (I.R.S. Employer
IF NOT A U.S. NATIONAL BANK Identification no.)
48 WALL STREET
NEW YORK, NY 10286
(Address of principal (Zip Code)
executive offices)
K-III COMMUNICATIONS CORPORATION
(EXACT NAME OF OBLIGOR AS SPECIFIED IN ITS CHARTER)
DELAWARE 13-3647573
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization Identification no.)
745 FIFTH AVENUE
NEW YORK, NY 10151
(Address of principal executive offices) (Zip Code)
See Table of Additional Obligors
8 1/2% SENIOR NOTES DUE 2006
(TITLE OF THE INDENTURE SECURITIES)
TABLE OF ADDITIONAL OBLIGORS
State Or Other Primary Standard I.R.S.
Exact Name Of Jurisdiction Of Industrial Employer
Obligors As Specified Incorporation Or Classification Identification
In Its Charter Organization Code Number Number
- --------------------------------------------------- ---------------- ---------------- --------------
Argus Publishers Corporation ...................... California 2721 95-2219151
Bacon's Information, Inc. ......................... Delaware 7389 36-4011543
Channel One Communications Corporation............. Delaware 4833 13-3783276
Daily Racing Form, Inc. ........................... Delaware 2721 13-3616342
DRF Finance, Inc. ................................. Delaware 2721 13-3616341
The Electronics Source Book, Inc. ................. Delaware 2741 36-0645610
Funk & Wagnalls Yearbook Corp. .................... Delaware 2731 13-3603787
Haas Publishing Companies, Inc. ................... Delaware 2741 58-1858150
Intermodal Publishing Company, Ltd. ............... New York 2721 13-2633752
Intertec Market Reports, Inc....................... Delaware 2721 36-1534790
Intertec Presentations, Inc. ...................... Colorado 2721 84-0840004
Intertec Publishing Corporation.................... Delaware 2721 48-1071277
Krames Communications Incorporated................. Delaware 2731 94-3151780
K-III Directory Corporation........................ Delaware 2721 13-3555670
K-III Holdings Corporation III..................... Delaware 6719 13-3617238
K-III HPC, Inc..................................... Delaware 6719 58-2105885
K-III KG Corporation--Massachusetts................ Massachusetts 8222 04-3218659
K-III KG Corporation--New York I................... New York 8222 11-3193464
K-III KG Corporation--New York II.................. New York 8222 13-3751139
K-III Magazine Corporation......................... Delaware 2721 13-3616344
K-III Magazine Finance Corporation................. Delaware 2721 13-3616343
K-III Prime Corporation............................ Delaware 6719 13-3631019
K-III Reference Corporation........................ Delaware 2731 13-3603781
The Katharine Gibbs Schools, Inc. ................. Delaware 6719 13-3755180
The Katharine Gibbs Schools of Montclair, Inc. .... New Jersey 8222 22-3275485
The Katharine Gibbs Schools of Norwalk, Inc. ...... Connecticut 8222 06-1388463
The Katharine Gibbs Schools of Piscataway, Inc. ... New Jersey 8222 22-3275484
The Katharine Gibbs Schools of Providence, Inc. ... Rhode Island 8222 05-0475713
Lifetime Learning Systems, Inc. ................... Delaware 2741 13-3763276
McMullen Argus Publishing, Inc. ................... California 2721 95-2663753
MH West, Inc. ..................................... California 2721 95-4190756
Musical America Publishing, Inc. .................. Delaware 2721 13-2782528
Nelson Publications, Inc. ......................... Delaware 2741 13-3740812
Newbridge Communications, Inc...................... Delaware 2735 13-1932571
Paramount Publishing Inc. ......................... California 2741 33-0087025
PJS Publications, Inc. ............................ Delaware 2721 52-1654079
R.E.R. Publishing Corporation...................... New York 2721 13-3090623
Stagebill, Inc. ................................... Delaware 2721 36-2693071
Symbol of Excellence Publishers, Inc. ............. Alabama 2721 63-0845698
Weekly Reader Corporation.......................... Delaware 2721 13-3603780
The address, including zip code, and telephone number, including area code,
of each additional registrant's principal executive office is 745 Fifth Avenue,
New York, New York 10151 (212-745-0100).
ITEM 1. GENERAL INFORMATION.
Furnish the following information as to the trustee.
(a) Name and address of each examining or supervising authority to
which it is subject.
NAME ADDRESS
---- -------
Superintendent of Banks of the State of 2 Rector Street, New York, N.Y.
New York 10006, and Albany, N.Y. 12203
Federal Reserve Bank of New York 33 Liberty Plaza, New York, N.Y.
10045
Federal Deposit Insurance Corporation Washington, D.C. 20429
New York Clearing House Association New York, New York
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
ITEM 2. AFFILIATIONS WITH OBLIGOR.
If the obligor is an affiliate of the Trustee, describe each such
affiliation.
None. (See Note on page 3)
ITEM 16. LIST OF EXHIBITS.
Exhibits identified in parentheses below, on file with the Commission,
are incorporated herein by reference as an exhibit hereto, pursuant to
Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and Rule
24 of the Commission's Rules of Practice.
1. A copy of the Organization Certificate of The Bank of New York
(formerly Irving Trust Company) as now in effect, which contains
the authority to commence business and a grant of powers to
exercise corporate trust powers. (Exhibit 1 to Amendment No. 1
to Form T-1 filed with Registration Statement No. 33-6215,
Exhibits 1a and 1b to Form T-1 filed with Registration Statement
No. 33-21672 and Exhibit 1 to Form T-1 filed with Registration
Statement No. 33-29637.)
4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to
Form T-1 filed with Registration Statement No. 33-31019.)
6. The consent of the Trustee required by Section 321(b) of the Act.
(Exhibit 6 to Form T-1 filed with Registration Statement No. 33-
44051.)
7. A copy of the latest report of condition of the Trustee published
pursuant to law or to the requirements of its supervising or
examining authority.
NOTE
Inasmuch as this Form T-1 is filed prior to the ascertainment by the
Trustee of all facts on which to base a responsive answer to Item 2, the answer
to said Item is based on incomplete information.
Item 2 may, however, be considered as correct unless amended by an
amendment to this Form T-1.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the
trustee, The Bank of New York, a corporation organized and existing under the
laws of the State of New York, has duly caused this statement of eligibility to
be signed on its behalf by the undersigned, thereunto duly authorized, all in
The City of New York, and State of New York, on the 14th day of May, 1996.
THE BANK OF NEW YORK
By /s/ Mary Jane Morrissey
------------------------
Mary Jane Morrissey
Vice President
Consolidated Report of Condition of
THE BANK OF NEW YORK
of 48 Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the
close of business December 31, 1995, published in
accordance with a call made by the Federal
Reserve Bank of this District pursuant to the provi-
sions of the Federal Reserve Act.
Dollar Amounts
ASSETS
in Thousands
Cash and balances due from depos-
itory institutions:
Noninterest-bearing balances and
currency and coin . . . . . . . . . . . . . . $ 4,500,312
Interest-bearing balances . . . . . . . . . . . . . 643,938
Securities:
Held-to-maturity securities . . . . . . . . . . . . 806,221
Available-for-sale securities . . . . . . . . . . 2,036,768
Federal funds sold and securities
purchased under agreements
to resell in domestic offices of
the bank:
Federal funds sold . . . . . . . . . . . . . . . 4,166,720
Securities purchased under
agreements to resell . . . . . . . . . . . . . . . 50,413
Loans and lease financing
receivables:
Loans and leases, net of unearned
income . . . . . . 27,068,535
LESS: Allowance for loan and
lease losses . . . . . 520,024
LESS: Allocated transfer risk
reserve . . . . . . . . . 1,000
Loans and leases, net of unearned
income and allowance, and
reserve . . . . . . . . . . . . . . . . . . . . 26,547,511
Assets held in trading accounts . . . . . . . . . . . 758,462
Premises and fixed assets (including
capitalized leases) . . . . . . . . . . . . . . . . 615,330
Other real estate owned . . . . . . . . . . . . . . . . 63,769
Investments in unconsolidated sub-
sidiaries and associated com-
panies . . . . . . . . . . . . . . . . . . . . . . 223,174
Customers' liability to this bank on
acceptances outstanding . . . . . . . . . . . . . . 900,795
Intangible assets . . . . . . . . . . . . . . . . . . 212,220
Other assets . . . . . . . . . . . . . . . . . . 1,186,274
-----------
Total assets . . . . . . . . . . . . . . . . . . $42,711,907
===========
LIABILITIES
Deposits:
In domestic offices . . . . . . . . . . . . . . $21,248,127
Noninterest-bearing . . 9,172,079
Interest-bearing . . 12,076,048
In foreign offices, Edge and
Agreement subsidiaries, and IBFs . . . . . . . . 9,535,088
Noninterest-bearing . . . 64,417
Interest-bearing . . . 9,470,671
Federal funds purchased and secu-
rities sold under agreements to re-
purchase in domestic offices of
the bank and of its Edge and
Agreement subsidiaries, and in
IBFs:
Federal funds purchased . . . . . . . . . . . . . 2,095,668
Securities sold under agreements
to repurchase . . . . . . . . . . . . . . . . . . . 69,212
Demand notes issued to the U.S.
Treasury . . . . . . . . . . . . . . . . . . . . . 107,340
Trading liabilities . . . . . . . . . . . . . . . . . 615,718
Other borrowed money:
With original maturity of one year
or less . . . . . . . . . . . . . . . . . . . . 1,638,744
With original maturity of more than
one year . . . . . . . . . . . . . . . . . . . . 120,863
Bank's liability on acceptances exe-
cuted and outstanding . . . . . . . . . . . . . . . 909,527
Subordinated notes and debentures . . . . . . . . . 1,047,860
Other liabilities . . . . . . . . . . . . . . . . . 1,836,573
----------
Total liabilities . . . . . . . . . . . . . . . . . 39,224,720
----------
EQUITY CAPITAL
Common Stock . . . . . . . . . . . . . . . . . . . . 942,284
Surplus . . . . . . . . . . . . . . . . . . . . . . . 525,666
Undivided profits and capital
reserves . . . . . . . . . . . . . . . . . . . . 1,995,316
Net unrealized holding gains
(losses) on available-for-sale se-
curities . . . . . . . . . . . . . . . . . . . . . . 29,668
Cumulative foreign currency transla-
tion adjustments . . . . . . . . . . . . . . . ( 5,757)
-----------
Total equity capital . . . . . . . . . . . . . . 3,487,187
-----------
Total liabilities and equity capital . . . . . . $42,711,907
===========
I, Robert E. Keilman, Senior Vice President and
Comptroller of the above-named bank do hereby
declare that this Report of Condition has been pre-
pared in conformance with the instructions issued
by the Board of Governors of the Federal Reserve
System and is true to the best of my knowledge and
belief.
Robert E. Keilman
We, the undersigned directors, attest to the cor-
rectness of this Report of Condition and declare that
it has been examined by us and to the best of our
knowledge and belief has been prepared in confor-
mance with the instructions issued by the Board of
Governors of the Federal Reserve System and is
true and correct.
J. Carter Bacot
Thomas A. Renyi Directors
Alan R. Griffith