UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934*
Platinum Entertainment, Inc.
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
727909-10-3
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
SEC 1745 (2-95) Page 1 of 9<PAGE>
SCHEDULE 13G
CUSIP No. 727909-10-3 Page 2 of 7 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Steven D. Devick
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) o
Not Applicable (b) o
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALL
Y OWNED BY
EACH
REPORTING
PERSON WITH
1,045,617(a)
6 SHARED VOTING POWER
56,250(b)
7 SOLE DISPOSITIVE POWER
1,045,617(a)
8 SHARED DISPOSITIVE POWER
56,250(b)
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,101,867(a)(c)
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* o
No
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
18.0%
SEC 1745 (2-95) Page 2 of 9<PAGE>
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SEC 1745 (2-95) Page 3 of 9<PAGE>
(a) Includes 803,078 shares which Mr. Devick has the right
to acquire pursuant to the exercise of vested stock options held by
Mr. Devick.
(b) Represents 56,250 shares which Mr. Devick has the right
to purchase pursuant to the exercise of a warrant to purchase Common
Stock held in the name of Platinum Venture Partners II, L.P. (_PVP II_).
(c) Includes 56,250 shares held by PVP II.
SEC 1745 (2-95) Page 4 of 9<PAGE>
Item 1(a) Name of Issuer:
Platinum Entertainment, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
2001 Butterfield Road
Downers Grove, Illinois 60515
Item 2(a) Name of Person Filing:
Steven D. Devick
Item 2(b) Address of Principal Business Office or, if None, Residence:
2001 Butterfield Road
Downers Grove, Illinois 60515
Item 2(c) Citizenship:
United States
Item 2(d) Title of Class of Securities:
Common Stock, par value $.001 per share
Item 2(e) CUSIP Number
727909-10-3
Item 3. Type of Person:
Not Applicable
SEC 1745 (2-95) Page 5 of 9<PAGE>
Item 4. Ownership:
(a) Amount Beneficially Owned:
1,101,867(1)(3)
(b) Percent of Class:
18.0% (1)
(c) Number of shares as to which person has:
(i) Sole power to vote or to direct the vote:
1,045,617 (1)
(ii) Shared power to vote or to direct the
vote: 56,250 (2)
(iii) Sole power to dispose or to direct the
disposition of: 1,045,617(1)
(iv) Shared power to dispose or to direct the
disposition of: 56,250 (2)
_________________
(1) Includes 803,078 shares which Mr. Devick has the
right to acquire pursuant to the exercise of vested stock
options held by Mr.Devick.
(2) Represents 56,250 shares which Mr. Devick
has the right to purchase pursuant to the exercise of a
warrant to purchase Common Stock held in the name of Platinum
Venture Partners II, L.P. (_PVPII_).
(3) Includes 56,250 shares held by PVP II.
SEC 1745 (2-95) Page 6 of 9<PAGE>
(4) Item 5. Ownership of Five Percent or less of a Class:
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of
Another Person:
Not Applicable
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By
the Parent Holding Company:
Not Applicable
Item 8. Identification and Classification of Members of the
Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
Item 10. Certification:
Not Applicable
SEC 1745 (2-95) Page 7 of 9<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: February 13, 1998
/s/ STEVEN D. DEVICK
Steven D. Devick
SEC 1745 (2-95) Page 8 of 9<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.
Date: February 13, 1998
Steven D. Devick<PAGE>
