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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Network Event Theater, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
640924-10-6
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(CUSIP Number)
Check the following box if a fee is being paid with this statement/ /. (A
fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7).
*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 the disclosures provided in a prior page.
The information required in 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).
Page 1 of 5 Pages
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CUSIP No. 640924-10-6 13G Page 2 of 5 Pages
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(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
A. Alfred Taubman
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(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
United States
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Number of Shares (5) Sole Voting
Beneficially Power 764,111
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting
Person With Power -0-
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(7) Sole Dispositive
Power 764,111
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(8) Shared Dispositive
Power -0-
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
764,111
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(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
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(11) Percent of Class Represented by Amount in Row (9)
7.4%
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(12) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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Page 3 of 5 Pages
ITEM 1(A). NAME OF ISSUER
Network Event Theater, Inc. (the "Issuer").
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
149 Fifth Avenue
New York, New York 10010
ITEM 2(A). NAME OF PERSON(S) FILING
A. Alfred Taubman
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
200 East Long Lake Road
Suite 300, Post Office Box 200
Bloomfield Hills, Michigan 48303-0200
ITEM 2(C). CITIZENSHIP
Mr. Taubman is a citizen of the United States of America.
ITEM 2(D). TITLE OF CLASS OF SECURITIES
Common Stock, par value $.01 per share ("Common Stock")
ITEM 2(E). CUSIP NUMBER
640924-10-6
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A
Inapplicable
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Page 4 of 5 Pages
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ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned:
Not individually but as trustee of his grantor trust, The A. Alfred
Taubman Restated Revocable Trust (the "Trust"), Mr. Taubman is the
beneficial owner of 764,111 shares of the Common Stock after selling
a total of 24,778 shares of the Common Stock in open market
transactions on October 1, 1997 and October 3, 1997.
(b) Percent of Class:
Not individually but as trustee of the Trust, Mr. Taubman is the
beneficial owner of 7.4% of the 10,285,720 outstanding shares of the
Common Stock.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 764,111
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the disposition of: 764,111
(iv) shared power to dispose or to direct the disposition of: 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following. / /
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
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Page 5 of 5 Pages
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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.
February 10, 1998
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(Date)
/s/ A. Alfred Taubman
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(Signature)
A. Alfred Taubman
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(Name/Title)
