TO ALL: Emerson Radio (MSN), This could be HUGE: <
Extract of SC 13D;Courtesy{Check FreeEdgar website for lots of info filed
Friday May 22nd. freeedgar.com (put MSN into 'ticker'
box)>>ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER
CONSIDERATION On May 13, 1998, the Oaktree Fund purchased $1,310,000 in
principal amount ofthe Issuer's 8-1/2% Senior Subordinated Convertible Debentures
Due 2002 (the"Debentures") for $1,047,950. Including such purchase, the Oaktree
Fund owns $11,139,000 principal amount of the Debentures, having paid an aggregate
of$8,569,925 for such Debentures. All purchases were made from working capital of
the Oaktree Fund.Grossman, including family members and affiliated entities, owns
$650,000principal amount of the Debentures and 100,000 shares of the Issuer's
CommonStock. The consideration paid for such Debentures and Common Stock
was$447,687.50 and $50,000 ($0.50 per share), respectively. All purchases were
madefrom personal funds.ITEM 4. PURPOSE OF TRANSACTION Grossman and
the Oaktree Fund (together, the "Investors") acquired the CommonStock and
Debentures for the purpose of investigating a possible restructuring of the Issuer's
balance sheet and asset deployment strategy in a manner which produces a favorable
return on the Investors' investment. The Investors plan to contact and meet with others
with interests similar to those of the Investors,and possibly with the Issuer's Board of
Directors, to pursue this end. Potential restructuring strategies include, but are not
limited to, the acquisition of a controlling Common Stock stake by the Investors or
others, the redemption of Debentures and/or the Issuer's outstanding Preferred Stock,
an exchange of theInvestors' securities, property, or cash for assets of the Issuer
including the securities of the Issuer's minority owned subsidiary or proceeds from the
sale of such subsidiary, a sale of the Issuer's shares of such subsidiary or adivestiture or
spin-off of such subsidiary, a change of the membership of the present Board of
Directors or Management or other extraordinary transactions.>
My contacts believe this may be what MSN Investors have patiently waited for...We'll see.
Regards,
Malcolm
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