FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 ---------------------------- OMB APPROVAL ---------------------------- OMB Number 3235-0287 Expires: December 31, 2001 Estimated average burden Hours per response.......0.5 ---------------------------- (Print or Type Responses) --------------------------------------------------------------------- 1. Name and Address of Reporting Person* Weiss Gary --------------------------------------------------------------------- (Last) (First) (Middle) 99 Seaview Boulevard, Suite 300 --------------------------------------------------------------------- (Street) Port Washington New York 11050 --------------------------------------------------------------------- (City) (State) (Zip) ---------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol News Communications, Inc. (NCOM) ---------------------------------------------------- 3. IRS or Social Security 4. Statement for Number of Reporting Month/Year Person (Voluntary) August 2001 ------------------- 5. If Amendment, Date of Original (Month/Year) ---------------------------------------------------- -------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner ---- ---- Officer (give Other (specify ---- Title below) ---- below) ------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person --- Form filed by More than One Reporting Person --- ------------------------------------------------------------- Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned -------------------------------------------------------------------------------------------- 1. Title of Security 2.Trans- 3. Trans- 4. Securities Acquired (A) (Instr. 3) action action or Disposed of (D) Date Code (Instr. 3, 4 and 5) (Instr. 8) (Month/ ------------- ------------------------------------ Day/ (A) or Year) Code V Amount (D) Price -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- --------------------------------------------------- 5. Amount of 6. Owner- 7. Nature of Securities ship Indirect Beneficially Form: Beneficial Owned at Direct Owner- End of Month (D) or ship Indirect (Instr. 3 and 4) (I) (Instr. 4) (Instr. 4) --------------------------------------------------- --------------------------------------------------- --------------------------------------------------- --------------------------------------------------- --------------------------------------------------- Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) * If the form is filed by more than one reporting person, see Instruction 4(b)(v). SEC 1474 (7-96) Page 1 of 2 FORM 4 (continued) Table II-- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) -------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative Security 2. Conver- 3. Trans- 4. Trans- 5. Number of Deriv- 6. Date Exer- (Instr. 3) sion or action action ative Securities Ac- cisable and Exercise Date Code quired (A) or Dis- Expiration Price of (Month/ (Instr. 8) posed of (D) Date Deri- Day/ (Instr. 3, 4 and 5) (Month/Day/ vative Year) Year) Security ------ ----- ---------- --------- -------- --------- Date Expira- Exer- tion Code V (A) (D) cisable Date -------------------------------------------------------------------------------------------------------------------- Director Stock Option (right to $1.00 8/17/01 A 3,333 8/17/01 8/17/06 buy) -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- 7. Title and Amount of 8. Price of 9. 10. Owner- 11. Nature Underlying Derivative Number ship Form of Securities Security of Deriva- of Deri- Indirect (Instr. 3 and 4) (Instr. 5) ative ative Bene- Securities Security: ficial Bene- Direct (D) Owner- ficially or Indirect ship Owned at (I) (Instr. 4) (Instr. 4) End of Month (Instr. 4) ---------------------------------------------------------------------------------------------- Amount Title or Number of Shares ---------------------------------------------------------------------------------------------- Common stock 3,333 159,999 D ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------- Explanation of Responses: **Intentional misstatements or omissions of facts /s/ Gary Weiss 9/7/01 constitute Federal Criminal Violations. ------------------------------- --------------- See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date Gary Weiss Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 of 2 SEC 1474 (7-96)