SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.__20__)
News Communications, Inc.
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(Name of Issuer)
Common Stock, $.01 par value ("the shares")
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(Title of Class of Securities)
652484809
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(CUSIP Number)
David Selengut, Esq. at Ellenoff Grossman & Schole LLP
370 Lexington Avenue NY NY 10017 212-370-1300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 2004
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(Date of Event which Requires FIling of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b) (3) or (4), check the following box [ ].
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 5 pages
CUSIP No. 652484809 13D Page 2 of 5 pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Morton Davis
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x ]
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3 SEC USE ONLY
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4 Source of Funds
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5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 3,731,922
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,731,922
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ }
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.9%
-------------------- ----------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 652484809 13D Page 3 of 5 pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
D.H. Blair Investment Banking Corp.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X ]
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3 SEC USE ONLY
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4 Source of Funds
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5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 2,890,722
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,890,722
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.9%
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14 TYPE OF REPORTING PERSON*
BD
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*SEE,INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 652484809 13D Page 4 of 5 pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Rosalind Davidowitz
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X ]
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3 SEC USE ONLY
-------------------------------------------------------------------------------
4 Source of Funds
-------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 711,633
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
711,633
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE,INSTRUCTIONS BEFORE FILLING OUT
Page 5 of 5 pages
Form 13D is hereby amended as follows:
Item 2. (a) J. Morton Davis, D.H. Blair Investment Banking Corp. ("Blair
Investment") and Rosalind Davidowitz, (together, the
"Reporting Parties").
Item 5. Interest in the Securities of the Issuer is amended in its entirety:
(a) As of December 31, 2004, Mr. Davis may be deemed to beneficially own
3,731,922 shares or 30.9% of the Issuer's shares issued and outstanding as
follows: (i) 129,567 shares owned directly by Mr. Davis, (ii) 2,455,000
shares owned by Blair Investment, (iii) Warrants to purchase 150,000 shares
owned by Blair Investment (iv) 24,506 shares issuable upon exercise of
5,900 shares of $10 convertible preferred stock owned by Blair Investment,
(v) 261,216 shares issuable upon conversion of 8% Convertible Notes owned
by Blair Investment, and (vi) 711,633 shares owned by Rosalind Davidowitz
(1).
As of December 31, 2004, Blair Investment may be deemed to
beneficially own 2,890,721 shares or 23.9% of the Issuer's shares as
indicated in (ii) - (v) above.
As of December 31, 2004, Rosalind Davidowitz may be deemed to
beneficially own 711,633 shares or 6.1% of the Issuer's shares as
indicated in (vi) above.
(b) See numbers (7) - (10) on the cover page, of this form for each
Reporting Party.
The shares listed are subject to a voting proxy granted to Mr. James
Finkelstein as set forth in a shareholders agreement filed as Exhibit
2 to Amendment #18 to the Schedule 13D filed by the Reporting Parties.
(c) On December 31, 2004, Rosalind Davidowitz sold privately an aggregate
of 1,195,103 shares of the issuer's common stock at $.455 per share to
three parties.
The beneficial ownerhsip of the Reporting Parties excludes shares
owned by parties to a Stockholders' Agreement as defined in Item 6 of
the previously filed 13D.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, we certify
that the information set forth in this statement is true, complete and correct.
/s/ J. Morton Davis
Date: January 25, 2005 ________________________
New York, New York J. Morton Davis
D.H. BLAIR INVESTMENT BANKING CORP.
by: /s/ David Nachamie
Date: January 25, 2005 _____________________________
New York, New York David Nachamie
Treasurer
Date: January 25, 2005 /s/ Rosalind Davidowitz
New York, New York ____________________________
Rosalind Davidowitz
________________________________________________________________________
(1) Filing of this statement shall not be deemed an admission that J. Morton
Davis or Blair Investment beneficially own securities attributed to
Rosalind Davidowitz for any purpose. J. Morton Davis and Blair Investment
expressly disclaim beneficial ownership of all securities held by Rosalind
Davidowitz for any purpose. Rosalind Davidowitz expressly disclaims
beneficial ownership of all securities owned by Mr. Davis or Blair
Investment for any purpose.