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
Brokow, Cary
Avenue Entertainment Group, Inc.
11755 Wilshire Blvd. - Suite 2200
Los Angeles, CA 90025
2. Issuer Name and Ticker or Trading Symbol
Avenue Entertainment Group, Inc.
PIX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
November 27, 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)
President and Chief Executive Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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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>
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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>
Employee Stock Option |$3.00 |11/27|H(1)| |100,000 |D |2/19/|2/19/|Common Stock|100,000|$3.00 |-0- |D | |
("Right to Buy") | |/98 | | | | |97 |07 | | | | | | |
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Employee Stok Option (|$1.8125 |11/27|J(2)| |100,000 |A |11/27|2/19/|Common Stock|100,000|$1.8125|100,000 |D | |
"Right to Buy") | |/98 | | | | |/98 |07 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Cancellation of option in connection with grant of replacement
option
(2) Grant of replacement option. 40% of the option is exercisable immediately
and the balance is exercisable at the
rate of 20% per annum on the anniversary date of the original grant date
February 19, 1997
SIGNATURE OF REPORTING PERSON
Cary Brokaw
DATE
December 10, 1998
