CUSIP No. 710847104 Page 1 of 5 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 and 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
People's Choice TV Corp.
_________________________________________________________________
(Name of Issuer)
Common Stock
_________________________________________________________________
(Title of Class of Securities)
710847104
_________________________________________________________________
(CUSIP Number)
________________________________
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CUSIP No. 710847104 Page 2 of 5 Pages
_________________________________________________________________
1) Name of Reporting Person BCI Growth III, L.P.
S.S. or I.R.S. Identification
No. of Above Person
_________________________________________________________________
2) Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
_________________________________________________________________
3) SEC Use Only
_________________________________________________________________
4) Citizenship or Place Delaware
of Organization
_________________________________________________________________
Number of 5) Sole Voting 1,180,474 shares of
Shares Beneficially Power Common Stock
Owned by Each
Reporting Person
With:
________________________________________
6) Shared Voting
Power -0-
________________________________________
7) Sole Disposi- 1,180,474 shares of
tive Power Common Stock
________________________________________
8) Shared Dis-
positive Power -0-
________________________________________
9) Aggregate Amount Beneficially 1,180,474 shares of
Owned by Each Reporting Person Common Stock
_________________________________________________________________
10) Check if the Aggregate
Amount in Row (9)
Excludes Certain Shares
_________________________________________________________________
11) Percent of Class
Represented by 9.0%
Amount in Row (9)
________________________________________________________________
12) Type of Reporting
Person PN
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CUSIP No. 710847104 Page 3 of 5 Pages
Item 1(a) - Name of Issuer:
People's Choice TV Corp.
Item 1(b) - Address of Issuer's Principal Executive Offices:
2 Corporate Drive South
Suite 249
Shelton, Connecticut 06484
Item 2(a) - Name of Person Filing:
BCI Growth III, L.P.
BCI Growth III, L.P. is a Delaware limited
partnership. Its sole general partner is Teaneck
Associates, L.P., a Delaware limited partnership.
Item 2(b) - Address of Principal Business Office or, if none,
Residence:
Glenpointe Centre West
Teaneck, New Jersey 07666
Item 2(c) - Place of Organization:
Delaware
Item 2(d) - Title of Class of Securities:
Common Stock
Item 2(e) - CUSIP Number:
710847104
Item 3 - Statements Filed Pursuant to Rules 13d-1(b) or
13d-2(b):
Not Applicable
Item 4 - Ownership.
(a) Amount Beneficially Owned:
1,180,474 shares of Common Stock
(b) Percent of Class:
9.0%
(c) Number of shares as to which such person has:
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CUSIP No. 710847104 Page 4 of 5 Pages
(i) sole power to vote or to direct the
vote:
1,180,474 shares of Common Stock
(ii) shared power to vote or to direct
the vote:
-0-
(iii) sole power to dispose or to direct
the disposition of:
1,180,474 shares of Common Stock
(iv) shared power to dispose or to di-
rect the disposition of:
-0-
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 Re-
ported on By the Parent 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
Signature:
<PAGE>
CUSIP No. 710847104 Page 5 of 5 Pages
After reasonable inquiry and to the best of my knowl-
edge and belief, I certify that the information set forth in this
statement is true, complete and correct.
BCI GROWTH III, L.P.
By Teaneck Associates, L.P.,
General Partner
By /s/ Ted Horton
General Partner
Date: January 13, 1997
