UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Nusbaum, Gary D.
E.M. Warburg Pincus & Co., LLC
466 Lexington Avenue
10th Floor
New York, NY 10017
USA
2. Date of Event Requiring Statement (Month/Day/Year)
7/29/1998
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
TV Filme, Inc.
PYTV
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
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>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C>
Common Stock |4,937,008(1) |I |(1) |
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<CAPTION>
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C>
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) E.M. Warburg, Pincus & Co., LLC, a New York limited liability company
("E.M. Warburg"), manages Warburg, Pincus Investors, L.P. ("Warburg,
Pincus"). Warburg, Pincus & Co., a New York general partnership ("WP"), the
sole general partner of Warburg, Pincus, has a 20% interest in the
profits of Warburg, Pincus. Lionel I. Pincus is the managing partner of WP and
the managing member of E.M. Warburg and may be deemed to control
both WP and E.M. Warburg. The members of E.M. Warburg are substantially the
same as the partners of WP. All of the shares indicated as owned by
Mr. Nusbaum are owned directly by Warburg, Pincus and are included because of
Mr. Nusbaum's affiliation with Warburg, Pincus. Mr. Nusbaum is a
Managing Director and member of E.M. Warburg and a general partner of WP. As
such, Mr. Nusbaum may be deemed to have an indirect pecuniary
interest, within the meaning of Section 16a-1 under the Securities Exchange Act
of 1934, as amended, in an indeterminate portion of the shares of
Common Stock beneficially owned by Warburg, Pincus and WP. Mr. Nusbaum
disclaims "beneficial ownership" of these shares within the meaning of
Rule 13d-3 under the Securities Exchange Act of
1934.
SIGNATURE OF REPORTING PERSON
/s/ Gary D. Nusbaum
DATE
July 29, 1998
