Which IATV "lifer" can explain the full significance of this, at:
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The Washington Post Company, a Delaware corporation ("TWP"), hereby
amends and supplements in its Statement on Schedule 13D (the "Original
13D") relating to the common stock, par value $0.10 per share (the "Common
Stock"), of ACTV, Inc., a Delaware corporation (the "Issuer") with its
principal executive offices at 1270 Avenue of the Americas, New York, NY
10020, as such Original 13D was filed with the Securities and Exchange
Commission (the "Commission") by TWP on March 26, 1992 and subsequently
amended. The Original 13D, as amended by amendment no. 1, amendment no. 2
and amendment no. 3 is hereinafter referred to as "Schedule 13D". All
capitalized terms not otherwise defined herein shall have the meanings
ascribed to them in Schedule 13D.
Item 4. Purpose of Transaction.
The text of Item 4 is followed by the following:
The Issuer Option Agreement has terminated automatically because
the Issuer failed to pay the second installment due on January 2, 1998 and
accordingly all the shares owned by TWP are now free to be sold publicly.
TWP does not intend to acquire any additional shares.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby deleted in its entirety and
substituted by the following:
TWP is deemed to beneficially own, in the aggregate, 2,341,334
shares of Common Stock, or 8.24 percent of the outstanding Common Stock.
Such amount of shares is based on the ownership of the 720,000 shares of
Common Stock constituting the Initial Shares, the ownership of 871,334
shares of Common Stock issued to TWP upon the Conversion and the 750,000
shares of Common Stock issued to TWP upon exercise of the Common Stock
Option. Such percentage of shares is calculated on the basis that the
28,400,282 shares of Common Stock which the Issuer has disclosed were
issued and outstanding on November 18, 1998, continue to be the only shares
of Common Stock outstanding. |
