Filed Pursuant to Rule 424(b)(3) and (c)
Registration No. 333-69581
Prospectus Supplement
to Prospectus Dated January 7, 1999
Paradise Music & Entertainment, Inc.
Common Stock
2,628,175 Shares
This Prospectus Supplement supplements the Prospectus dated January 7,
1999 (the "Prospectus") relating to the sale of up to 2,628,175 shares (the
"Shares") of common stock, $0.01 par value per share (the "Common Stock"), of
Paradise Music & Entertainment, Inc. (the "Company").
This Prospectus Supplement should be read in conjunction with the
Prospectus, which is to be delivered with this Prospectus Supplement.
The information in the table appearing under the heading "Selling
Stockholders" in the Prospectus is superseded with the information appearing in
the table below:
<TABLE>
<CAPTION>
Shares Percentage of
Shares of Owned After Shares Owned After
Name Beneficially Owned Shares Offered Offering (1) Offering (1)(2)
- ---- ------------------ -------------- ------------ ---------------
<S> <C> <C> <C> <C>
Lawrence Bortoluzzi -E 8,500 8,500 0 0
Pamela Butler-E 1,000 1,000 0 0
Daniel Caldwell-E 12,500 12,500 0 0
P. Thomas Cohen(3) 45,489 23,960 21,529 *
Davis & Gilbert LLP-V 98,129 88,129 10,000 *
Brian Doyle 189,250 43,750 145,500 2.88
Thomas J. Edelman(4) 97,279 60,000 37,279 *
Richard Flynn 189,250 43,750 145,500 2.88
Jennifer J. Haagen-Islami-E 3,000 3,000 0 0
Michael Jeon-E 1,000 1,000 0 0
Jacqueline Kotler-E 2,000 2,000 0 0
John Loeffler(5) 349,451 27,084 322,367 6.40
John Loeffler Music Pension
Plan Inc. (5) 18,600 15,000 3,600 *
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
Jonathan Love-E 2,000 2,000 0 0
Philip G. Nappo 96,882 88,852 8,000 *
Raymond Ovetsky-E 8,000 8,000 0 0
Joseph Parker-V 5,000 5,000 0 0
Michael Rodriguez-E 20,000 20,000 0 0
April Taylor-E 1,650 1,650 0 0
Tiffany Towers-E 6,000 6,000 0 0
Robert Burke 100,000 100,000 0 0
Jesse Dylan 100,000 100,000 0 0
Akiva Goldsman 75,000 75,000 0 0
David Kuhn 25,000 25,000 0 0
Richard and Ann La Gravenese 100,000 100,000 0 0
Stacey Sher 100,000 100,000 0 0
Margery Simkin 100,000 100,000 0 0
Benjamin Affleck 75,000 75,000 0 0
Allegra Productions Profit
Sharing 10,000 10,000 0 0
Trey Anastasio 70,000 70,000 0 0
Henry Bamberger 10,000 10,000 0 0
Soledad Bastiancich 15,000 15,000 0 0
Steve/Janet Bergman/Surrey 10,000 10,000 0 0
Marianne Boesky 20,000 20,000 0 0
Cecil Trust 75,000 75,000 0 0
Cornerstone Promotion, Inc.-V 10,000 10,000 0 0
Dan Cortese 20,000 20,000 0 0
Dan Cortese Trust 20,000 20,000 0 0
Claudio Curzi 20,000 20,000 0 0
Matthew P. Damon 75,000 75,000 0 0
Benicio Del Toro 10,000 10,000 0 0
Dennis Gassner & Associates,
Profit Sharing 10,000 10,000 0 0
Cameron & Billie Diaz 20,000 20,000 0 0
Arthur Dielhenn 20,000 20,000 0 0
Dielhenne Productions Profit
Sharing 20,000 20,000 0 0
Dionysian Productions, Inc. 100,000 100,000 0 0
Gabe Doppelt 10,000 10,000 0 0
Alan Finkelstein-V 7,500 7,500 0 0
Jay Finkelstein-V 7,500 7,500 0 0
Jonathan Fishman 20,000 20,000 0 0
Morgan Freeman 10,000 10,000 0 0
Brian Gibson 30,000 30,000 0 0
Burt Goldstein 25,000 25,000 0 0
Mike Gordon 30,000 30,000 0 0
Lara Harris 75,000 75,000 0 0
Lauren Holly 75,000 75,000 0 0
Hopalong Company, Inc. Profit
Sharing 10,000 10,000 0 0
Ted Hope 10,000 10,000 0 0
James Yoshinobu Iha 30,000 30,000 0 0
Craig Kanarick 75,000 75,000 0 0
Kathy Sue Enterprises 10,000 10,000 0 0
Michelle Kydd 30,000 30,000 0 0
Victoria Leacock 10,000 10,000 0 0
</TABLE>
2
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
David Lonner 10,000 10,000 0 0
Amir Malin 10,000 10,000 0 0
Margaret Martin 10,000 10,000 0 0
Menchel Family Trust 75,000 75,000 0 0
Amy Ness 25,000 25,000 0 0
Diarmuid Quinn 10,000 10,000 0 0
Tim Roth 20,000 20,000 0 0
David Salle 20,000 20,000 0 0
David Salle Profit Sharing 10,000 10,000 0 0
September Productions, Inc.
Profit Sharing 20,000 20,000 0 0
Sheldon Kahn Retirement Trust 20,000 20,000 0 0
Shepard Family Trust 20,000 20,000 0 0
James Shepard Rev. Trust 20,000 20,000 0 0
Leslie Simitch 20,000 20,000 0 0
Martin Spencer 10,000 10,000 0 0
Norman Steinberg 20,000 20,000 0 0
Ken Sunshine 10,000 10,000 0 0
T-Bone Films, Inc.-V 4,000 4,000 0 0
The Roland Trust 20,000 20,000 0 0
Tom Anthony Woodworking-V 33,000 33,000 0 0
Jay Walkingshaw 20,000 20,000 0 0
Sally Wilcox 10,000 10,000 0 0
Gerald Chapnick 10,000 10,000 0 0
Marcia Chapnick 10,000 10,000 0 0
Jakob Dylan 25,000 25,000 0 0
Consolidated Entertainment LLC 25,000 25,000 0 0
Jerry Lembo 1,000 1,000 0 0
Donald & Company Securities, Inc. 4,000 4,000 0 0
</TABLE>
- ----------
* Less than 1%
(1) Assumes sale of all shares owned by the selling stockholders.
(2) Based on 5,035,405 shares of Common Stock outstanding on the date hereof.
(3) Includes options to purchase 15,000 shares. (4) Includes options to
purchase 30,000 shares.
(5) Includes options to purchase 5,000 shares, 18,600 shares owned by Mr.
Loeffler's Pension Plan and 3,800 shares owned by Mr. Loeffler's wife.
Investing in the Company involves a high degree of risk. You should
purchase shares only if you can afford a complete loss. You should carefully
read and review this prospectus including the "Risk Factors" beginning on page 7
of the Prospectus before deciding whether to buy shares in this Offering.
The Securities and Exchange Commission has not approved or disapproved of these
securities or determined if this prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.
Prospectus Supplement dated March 8, 1999.
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