<PAGE>
PROSPECTUS SUPPLEMENT REGISTRATION STATEMENT
(To Prospectus dated February 10, 1998) FILE NO. 333-08140
$75,000,000
SCANDINAVIAN BROADCASTING SYSTEM SA
[LOGO]
7% CONVERTIBLE SUBORDINATED NOTES DUE 2004
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THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR BY ANY STATE SECURITIES COMMISSION NOR HAS THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION
PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS
SUPPLEMENT OR THE ACCOMPANYING PROSPECTUS. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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The date of this Prospectus Supplement is July 15, 1998
<PAGE>
SELLING SECURITYHOLDERS
The "Selling Securityholders" section of the Prospectus dated February 10,
1998, forming a part of the Registration Statement on Form S-3, File No.
333-08140 (the "Prospectus"), relating to the $75,000,000 aggregate principal
amount of 7% Convertible Subordinated Notes Due 2004 (the "Notes") of
Scandinavian Broadcasting System SA, a Luxembourg corporation (the "Company"),
and the common shares of the Company, par value $1.50 per share (the "Common
Shares") issuable upon the conversion thereof is hereby supplemented.
As of the date hereof, $75,000,000 aggregate principal amount of the Notes
have been issued by the Company. The purpose of this Prospectus Supplement is
(i) to reflect changes in the principal amounts of the Notes held by certain
Selling Securityholders in the "Selling Securityholders" section of the
Prospectus and (ii) to add names of certain holders of the Notes unknown to the
Company as of the date of the Prospectus to the "Selling Securityholders"
section of the Prospectus. This Prospectus Supplement is not complete without,
and may not be delivered or utilized except with, the Prospectus, including any
amendments or supplements thereto. Capitalized terms used herein but not defined
herein have the meanings assigned to such terms in the Prospectus. Any cross
references in this Prospectus Supplement refer to sections of the Prospectus.
The following table sets forth information, as of May 14, 1998, with respect
to the Selling Securityholders and the respective principal amounts of Notes
beneficially owned by each Selling Securityholder that may be offered pursuant
to the Prospectus. The information contained in the table included in the
"Selling Securityholders" section of the Prospectus is hereby supplemented as
follows:
<TABLE>
<CAPTION>
PRINCIPAL AMOUNT
SELLING SECURITYHOLDER OF NOTES
- ------------------------------------------------------------------------------------------------------ ----------------
<S> <C>
AAM/Zazove Institutional Income Fund, L.P............................................................. $ 1,000,000
Allstate Insurance Company............................................................................ 3,000,000
Baker NYE Securities LP............................................................................... 1,000,000
Baron Growth & Income Fund............................................................................ 1,500,000
Bear, Stearns & Co. Inc. (1).......................................................................... 7,120,000
Boston College Endowment Fund......................................................................... 170,000
Chrysler Corporation Master Retirement Trust.......................................................... 1,280,000
Combined Insurance Company of America................................................................. 1,375,000
Commonwealth Life Insurance--Stock Trac (Teamsters I)................................................. 2,000,000
Dean Witter Convertible Securities Trust.............................................................. 5,000,000
Delta Airlines Master Trust........................................................................... 760,000
Donaldson, Lufkin & Jenrette Securities Corp. (2)..................................................... 1,000,000
Employers' Reinsurance Corporation.................................................................... 300,000
FMC Master Retirement Trust........................................................................... 200,000
Forest Alternative Strategies Fund II LP Series A-5 (2)............................................... 425,000
Forest Alternative Strategies Fund II LP Series A-5I (2).............................................. 50,000
Forest Alternative Strategies Fund II LP Series A-5M (2).............................................. 50,000
Forest Global Convertible Fund Series A-5 (2)......................................................... 595,000
Hughes Aircraft Company Master Retirement Trust....................................................... 660,000
J.P. Morgan & Co., Inc................................................................................ 5,000,000
KA Management Ltd..................................................................................... 2,052,000
KA Trading, L.P....................................................................................... 1,188,059
LLT Limited (2)(3).................................................................................... 50,000
Museum of Fine Arts, Boston........................................................................... 200,000
Natwest Securities Limited............................................................................ 1,400,000
New Hampshire State Retirement System................................................................. 890,000
OCM Convertible Trust................................................................................. 2,185,000
OCM Convertible Limited Partnership................................................................... 70,000
Partner Reinsurance Company Ltd....................................................................... 270,000
Promutual............................................................................................. 750,000
Prudential Securities Inc. (2)........................................................................ 1,750,000
Putnam Balanced Retirement Fund....................................................................... 200,000
Putnam Convertible Income--Growth Trust............................................................... 3,505,000
</TABLE>
1
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL AMOUNT
SELLING SECURITYHOLDER OF NOTES
- ------------------------------------------------------------------------------------------------------ ----------------
<S> <C>
Putnam Convertible Opportunities and Income Trust..................................................... 620,000
Putnam Funds Trust--Putnam High Yield Total Return Fund............................................... 25,000
R(2) Investments, LDC................................................................................. 600,000
Raytheon Company Master Pension Trust (2)............................................................. 705,000
Rhone-Peulenc Rorer Inc. Pension Plan (2)............................................................. 272,000
Soundshore Partners, L.P.............................................................................. 918,000
State Employees' Retirement Plan of the State of Delaware (2)......................................... 570,000
State of Connecticut Combined Investment Funds........................................................ 1,875,000
The Dreyfus Balanced Fund............................................................................. 2,000,000
The Dreyfus High Yield Securities Fund................................................................ 2,500,000
The Dreyfus Premier Limited Term High Income Fund (2)................................................. 4,700,000
The Dreyfus Short Term Income Fund.................................................................... 1,200,000
The Dreyfus Strategic Income Fund..................................................................... 3,650,000
The Retail Clerks Pension Plan........................................................................ 1,500,000
TQA Vantage Fund, L.P. (2)............................................................................ 1,250,000
University of Rochester............................................................................... 180,000
Vanguard Convertible Securities Fund, Inc............................................................. 1,480,000
Yield Strategies Fund II, LP.......................................................................... 2,050,000
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Total............................................................................................... $ 73,090,059
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</TABLE>
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(1) Within the past three years, Bear, Stearns & Co. Inc. or one of its
affiliates has served as the manager of an offering of securities of the
Company and/or has performed other banking services for the Company for
which it has received a fee. Specifically, Bear, Stearns & Co. Inc. managed
an offering of 7% Convertible Subordinated Notes Due 2004, having an
aggregate face value of $75,000,000.00, during November 1997.
(2) Not included in "Selling Securityholders" section of the Prospectus dated
February 10, 1998.
(3) Forest Investment Management L.P. shares investment power with respect to
$30,000 of the Notes pursuant to an investment management agreement with LLT
Limited.
2
