UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Cayre, Stanley
c/o GT Interactive Software Corp.
417 Fifth Avenue
New York, NY 10016
2. Issuer Name and Ticker or Trading Symbol
GT INTERACTIVE SOFTWARE CORP.
GTIS
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
03/31/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
(1)
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>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock | | | | | | |3,640,253(2) |D | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock | | | | | | |453,000(3) |I |By charitable foundation(4)|
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |03/03/|S | |15,000 |D |7.4401 | |I |By trust |
|98 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |03/05/|S | |5,000 |D |7.0625 | |I |By trust |
|98 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |03/06/|S | |10,000 |D |7.1563 | |I |By trust |
|98 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |03/09/|S | |10,000 |D |7.1875 | |I |By trust |
|98 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |03/12/|S | |10,000 |D |7.6964 | |I |By trust(5) |
|98 | | | | | |4,750,670(3) | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) The reporting person can be deemed a 10% Owner only if he is determined to
be the beneficial owner of the shares held in various trusts for the
benefit of his children and by the charitable foundation for which he and his
wife serve as trustees. See footnotes 4 and 5 below.
(2) 114,658 of these shares are held by the reporting person in a grantor
retained annuity trust.
(3) The reporting person disclaims beneficial ownership of these securities,
and this report shall not be deemed an admission that the reporting
person is the beneficial owner of such securities for purposes of Section 16 or
for any other purpose.
(4) These shares are held by a charitable foundation for which the reporting
person and his wife serve as trustees.
(5) These shares in the aggregate are held in various trusts for the benefit of
the reporting person's children, for which his wife serves as trustee.
SIGNATURE OF REPORTING PERSON
/s/ Stanley Cayre
DATE
04/10/98
