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
de Albuquerque, Hermano Studart Lins
c/o TV Filme, Inc.
c/o ITSA-Intercontinental Telecomunicacoes
SCS, Quadra 07-B1.A, Ed Executive Tower
Brasilia-DF, Brazil 70.300-911
Brazil
2. Issuer Name and Ticker or Trading Symbol
TV Filme, Inc.
("PYTV")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
April 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Chief Executive Officer and Secretary
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>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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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)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, $0.01 par val|4/17/9| A| | 4,166 | | $6| 269,134 |D |-- |
ue |8 | | | | A|.00(1) | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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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)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Time based options (ri|$10.00 |-- |-- |-|-- -- |A,D|(2) |08/02| Common Stoc|110,000|-- |110,000 |D |-- |
ght to buy) | | | |-| | | |/06 |k | | | | | |
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Time based options (ri|$6.00 |-- |-- |-|-- -- |A,D|(3) |10/31|Common Stock|50,000 |-- |50,000 |D |-- |
ght to buy) | | | |-| | | |/07 | | | | | | |
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Time based options (ri|$5.625 |-- |-- |-|-- -- |A,D|(4) |12/26|Common Stock|50,000 |-- |50,000 |D |-- |
ght to buy) | | | |-| | | |/07 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Assumed price for issuance based upon December 1997 trading prices of the
Company's Common Stock.
(2) These options vested and became fully exercisable as to 20% on August 2,
1997 and will vest and become
exercisable as to an additional 20% on each anniversary thereafter until all
such options are fully vested and
exercisable.
(3) These options vest and become fully exercisable as to 20% on October 31,
1998 and as to an additional 20% on
each anniversary thereafter until all such options are fully vested and
exercisable.
(4) These options vest and become fully exercisable as to 20% on December 26,
1998 and as to an additional 20%
on each anniversary thereafter until all such options are fully vested and
exercisable.
SIGNATURE OF REPORTING PERSON
/s/ Hermano Studart Lins de Albuquerque
DATE
May 4, 1998