UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
December 31, 1997 0-14871
(Date of earliest report) (Commission File Number)
ML MEDIA PARTNERS, L.P.
(Exact name of registrant as specified in its charter)
New York 13-3221085
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification Number)
World Financial Center, South Tower, New York, New York 10080-6108
(Address of Principal Executive Offices) (Zip Code)
(212) 236-6577
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Item 5. Other Events
On December 31, 1997, the loans outstanding under the WEBE-WINCOM-WICC
Loan in the principal amount of $6,769,038 matured and became due and
payable in accordance with their terms. On that date, Registrant made a
payment to Chase Manhattan Bank, the lender, in the amount of $2,588,601,
which included interest of $63,601, but was unable to repay the remainder
of the loans. As a result of such default, the lender has the right to
take actions to enforce its right under the WEBE-WINCOM-WICC Loan including
the right to foreclose on the properties of the WEBE-WINCOM-WICC group.
The WEBE-WINCOM-WICC Loan is non-recourse to the other assets of
Registrant. Registrant and Chase Manhattan Bank are negotiating the terms
of a waiver of the default and an amendment to the WINCOM-WEBE-WICC Loan
that would, among other things, extend the maturity date of the loans to
June 30, 1999. Registrant expects to enter into such an amendment during
the first quarter of 1998, although there is no assurance that Registrant
will be able to do so or as to the terms of any such amendment.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
ML MEDIA PARTNERS, L.P.
By: RP Media Management,
General Partner
By: IMP Media Management,
Inc.
Dated February 5, 1998 By: s/Elizabeth McNey Yates
Elizabeth McNey Yates
Vice President
