CYH Community Health Systems Inc

13D

13D

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13D

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13D

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13D

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This statement on Schedule 13D relates to the common stock, par value $0.01 per share (the “ Common Stock ”), of Community Health Systems, Inc., a Delaware corporation (the “ Issuer ”). The principal executive offices of the Issuer are located at 4000 Meridian Boulevard, Franklin, Tennessee 37067.

The Reporting Persons (as defined below) beneficially own 15,640,785 shares of Common Stock (the “ Subject Shares ”).

The Subject Shares represent approximately 13.74% of the outstanding shares of Common Stock based on 113,849,339 shares of Common Stock outstanding as of February 15, 2017 as reported in the Issuer’s Annual Report on Form 10-K filed on February 21, 2017 for the year ended December 31, 2016.

This Schedule 13D is jointly filed on behalf of Tianqiao Chen (“ Mr.  Chen ”), Shanda Media Limited (“ Shanda Media ”), Shanda Investment Group Limited (“ Shanda Investment ”), Shanda Technology Overseas Capital Company Limited (“ Shanda Technology ”) and Shanda Asset Management Holdings Limited (“ Shanda Asset Management ” and together with Mr. Chen, Shanda Media, Shanda Technology and Shanda Asset Management, the “ Reporting Persons ” and each a “ Reporting Person ”).

Mr. Chen is a citizen of the People’s Republic of China who holds 100% of the outstanding and issued shares of Shanda Media. Shanda Media owns 70% of all outstanding and issued shares of Shanda Investment which is the sole shareholder of Shanda Technology. Shanda Technology owns 100% of the outstanding and issued shares of Shanda Asset Management who directly holds the Subject Shares.

The business address or principal office of each Reporting Person is located at 8 Stevens Road, Singapore 257819. Mr. Chen currently serves as the Chairman and Chief Executive Office of Shanda Group, a Singapore-based private investment group. Each of the other Reporting Persons is a private investment holding company affiliated with Shanda Group. Shanda Technology is incorporated under the laws of the Cayman Islands. Each of Shanda Media, Shanda Investment and Shanda Asset Management is incorporated under the laws of the British Virgin Islands.

The name, business address, present principal occupation and citizenship of each director and executive officer of each of the Reporting Persons (other than Mr. Chen) is set forth on Schedule A.

During the last five years, none of the Reporting Persons, and to the best of their knowledge, any of the persons listed on Schedule A attached hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject, to federal or state securities laws or finding any violation with respect to such laws.

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The aggregate purchase price for the Subject Shares beneficially owned by the Reporting Persons was $185,622,392.99, inclusive of (i) commissions paid and (ii) with respect to Subject Shares beneficially owned through options that have been exercised, the exercise price of such options, plus the premiums paid for call options (to the extent such options were call options) less the premiums received for put options (to the extent such options were put options). Such purchase price was funded through internally generated funds of the Shanda Group.

The Reporting Persons acquired the Issuer’s securities as reported on this Schedule 13D because they believed such securities represented an attractive investment. The Reporting Persons originally filed a Schedule 13G as passive investors, but determined to file a Schedule 13D in order to maintain flexibility going forward consistent with a conservative approach to disclosure.

The Reporting Persons believe they have a good relationship with the Issuer’s management team and intend to engage with the Issuer’s management team regarding the Issuer’s business and operations and the status of the Issuer’s ongoing turnaround strategy.

The Reporting Persons intend to review their investments in the Issuer on a continuing basis. Depending on various factors and subject to the obligations described herein, including, without limitation, the Issuer’s financial position and strategic direction, actions taken by the board of directors, price levels of shares of Common Stock, other investment opportunities available to the Reporting Persons, market conditions and general economic and industry conditions, the Reporting Persons may propose or take such actions with respect to their investments in the Issuer as they deem appropriate, including, without limitation, purchasing additional shares of Common Stock or other financial instruments related to the Issuer or selling some or all of their beneficial or economic holdings, engaging in hedging or similar transactions with respect to the securities relating to the Issuer and/or otherwise changing their intention with respect to any and all matters described in subsections (a) through (j) of Item 4 of Schedule 13D.

(a), (b)

Shanda Asset Management holds 15,640,785 shares of Common Stock, representing approximately 13.74% of the outstanding shares of Common Stock. The foregoing percentage is calculated based on 113,849,339 shares of Common Stock outstanding as of February 15, 2017.

Mr. Chen, through his ownership of Shanda Media, may be deemed to share voting and dispositive power over the Common Stock beneficially owned by Shanda Media. Shanda Media, through its ownership of Shanda Investment, may be deemed to share voting and dispositive power over the Common Stock beneficially owned by Shanda Investment. Shanda Investment,

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through its ownership of Shanda Technology, may be deemed to share voting and dispositive power over the Common Stock beneficially owned by Shanda Technology. Shanda Technology, through its ownership of Shanda Asset Management, may be deemed to share voting and dispositive power over the Common Stock directly held by Shanda Asset Management.

(c) None.

(d) Not applicable.

(e) Not applicable.

The information provided in Items 2, 3 and 4 is incorporated herein by reference.

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SIGNATURE

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct.

March 13, 2017

SCHEDULE A

DIRECTORS AND EXECUTIVE OFFICERS OF EACH REPORTING PERSON (OTHER THAN MR. CHEN)

The name, business address, citizenship, present principal occupation of each of the directors of each Reporting Person (other than Mr. Chen), are set forth in the tables below. The business address of each director is located at 8 Stevens Road, Singapore 257819. Each occupation set forth opposite an individual’s name in the following tables refers to employment with Shanda Group. None of the Reporting Persons (other than Mr. Chen) has any executive officers.

SHANDA MEDIA LIMITED

SHANDA INVESTMENT GROUP LIMITED

SHANDA TECHNOLOGY OVERSEAS CAPITAL COMPANY LIMITED

SHANDA ASSET MANAGEMENT HOLDINGS LIMITED

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