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United States
Securities and Exchange Commission
Washington, D.C. 20549
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Form 8-K
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Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 22, 1997 0-23396
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Date of Report (Date of earliest Commission File Number
event reported)
Skyline Multimedia Entertainment, Inc.
(Exact name of registrant as specified in its charter)
New York 11-3182335
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(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
350 Fifth Avenue
New York, New York 10118
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(Address of Principal Executive Offices) (Zip Code)
(212) 564-2224
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
On December 22, 1997, Skyline Multimedia Entertainment, Inc. (the
"Company") was informed by representatives of the Empire State Building Company
(the "ESBCo") that the Company's proposal with respect to certain alleged lease
defaults, as previously disclosed in the Company's quarterly report on Form
10-QSB for the period ended September 30, 1997 (the "Form 10-QSB") was not
accepted. The Company believes it has negotiated in good faith and had no reason
to suspect that its previously submitted proposal would not be acceptable. In
light of this negative response from the ESBCo, which the Company believes is
another example of the ESBCO's pattern of bad faith and lack of cooperation
toward the Company, the Company has filed a lawsuit against the ESBCo and
related parties seeking, among other things, injunctive relief to prohibit the
ESBCo from terminating the Company's leases at the Empire State Building (the
"Leases") and the License Agreement relating to the New York Skyride (the
"License Agreement") and also seeking damages from the ESBCo with respect to the
matters set forth in the Form 10-QSB. The Company has received a temporary
restraining order, among other things, prohibiting the ESBCo from terminating or
cancelling the Leases and the License Agreement and restraining the ESBCo from
interfering with the Company's business or commencing any proceedings with
respect to the Leases and the License Agreement. The Company will keep investors
informed of this litigation as it continues to develop.
The Company also received notice on December 22, 1997 from attorneys
representing the landlord of the Woodfield Mall that said landlord has elected
to re-enter the premises leased by the Company as a result of certain alleged
lease defaults and has declared such lease terminated. The Company is
considering its alternatives and the appropriate response to this notice.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) not applicable
(b) not applicable
(c) not applicable
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: December 23, 1997 SKYLINE MULTIMEDIA ENTERTAINMENT, INC.
By: /s/Zalman Silber
Name: Zalman Silber
Title: President and Chief Executive Officer
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