Page 1
           SECURITIES AND EXCHANGE COMMISSION
                 Washington, D.C. 20549
                       FORM 10-Q
(MARK ONE)
/X/  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended        September 30, 1995
                               --------------------------------
                            OR
/ /  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934

For the transition period from                to

              Commission File Number: 1-2999
              ------------------------------
               CHRIS-CRAFT INDUSTRIES, INC.
               ----------------------------
    (Exact name of Registrant as specified in its charter)

      Delaware                             94-1461226
----------------------------    -------------------------------
(State or other jurisdiction of        (I.R.S. Employer
incorporation or organization)         Identification No.)

767 Fifth Avenue, New York, New York                  10153
-------------------------------------               ----------
(Address of principal executive offices)            (Zip Code)

Registrant's telephone number, including area code (212) 421-0200

Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports) and (2) has been subject to such filing
requirements for the past 90 days.
                      Yes  X     No
                      -------    -------

As of October 31, 1995 there were 21,504,327 shares of the
issuer's Common Stock outstanding and 7,663,187 shares of the
issuer's Class B Common Stock outstanding.

<PAGE>
Page 2
<TABLE>
                             PART I -- FINANCIAL INFORMATION
                              CHRIS-CRAFT INDUSTRIES, INC.
                          CONDENSED CONSOLIDATED BALANCE SHEETS
                                (In thousands of dollars)
                          -------------------------------------
<CAPTION>
                                                                                          
                                                         September 30,  December 31,
                                                             1995           1994
                                                         -------------  ------------
                                                         (UNAUDITED)
<S>                                                      <C>           <C>
ASSETS
------
CURRENT ASSETS:
  Cash and cash equivalents                              $   142,321    $   226,183
  Marketable securities (substantially
    all U.S. Government securities)                        1,382,796      1,294,278
  Accounts receivable, net                                    85,131         99,775
  Film contract and prepaid broadcast rights                 116,230         89,245
  Prepaid expenses and other current assets                   44,718         59,478
                                                         -----------    -----------
    Total current assets                                   1,771,196      1,768,959
                                                         -----------    -----------
FILM CONTRACT AND PREPAID BROADCAST RIGHTS,
  less current portion                                        52,453         59,228
                                                         -----------    -----------
PROPERTY, PLANT AND EQUIPMENT, net                            48,564         51,624
                                                         -----------    -----------
INTANGIBLE ASSETS                                            322,509        329,517
                                                         -----------    -----------
OTHER ASSETS                                                  43,344         22,889
                                                         -----------    -----------
                                                         $ 2,238,066    $ 2,232,217
                                                         ===========    ===========

<FN>
      The accompanying notes to condensed consolidated financial statements
                      are an integral part of these statements.
</TABLE>
<PAGE>
Page 3
<TABLE>
                             PART I -- FINANCIAL INFORMATION
                              CHRIS-CRAFT INDUSTRIES, INC.
                          CONDENSED CONSOLIDATED BALANCE SHEETS
                                (In thousands of dollars)
                          -------------------------------------
<CAPTION>
                                                                                          
                                                         September 30,  December 31,
                                                             1995           1994
                                                         -------------  ------------
                                                         (UNAUDITED)
<S>                                                      <C>           <C>
LIABILITIES AND SHAREHOLDERS' INVESTMENT
----------------------------------------
CURRENT LIABILITIES:
  Film contracts payable within one year                 $    95,531    $    81,696
  Accounts payable and other liabilities                     119,222        100,984
  Income taxes payable                                        33,026         60,877
                                                         -----------    -----------
    Total current liabilities                                247,779        243,557
                                                         -----------    -----------
FILM CONTRACTS PAYABLE AFTER ONE YEAR                         93,479         89,048
                                                         -----------    -----------
OTHER LIABILITIES                                              9,379          9,192
                                                         -----------    -----------
MINORITY INTEREST                                            570,507        584,202
                                                         -----------    -----------
SHAREHOLDERS' INVESTMENT:
  Prior preferred stock - $1.00 dividend; currently
    authorized 73,399 shares; outstanding 73,399 shares        1,578          1,578
  Convertible preferred stock - $1.40 dividend;
    currently authorized 279,007 shares;
    outstanding 279,007 and 282,826 shares                     4,883          4,949
  Class B common stock - par value $.50 per share;
    authorized 50,000,000 shares; outstanding
    7,626,410 and 7,567,821 shares                             3,813          3,784
  Common stock - par value $.50 per share; authorized
    100,000,000 shares; outstanding 21,960,227 and
    20,979,174 shares                                         11,771         11,280
  Capital surplus                                            322,883        298,090
  Retained earnings                                          984,569        996,331
  Treasury stock, at cost                                    (17,791)          -   
  Adjustment to reflect marketable
    securities at market value                                 5,216         (9,794)
                                                         -----------    -----------
                                                           1,316,922      1,306,218
                                                         -----------    -----------
                                                         $ 2,238,066    $ 2,232,217
                                                         ===========    ===========
<FN>
      The accompanying notes to condensed consolidated financial statements
                      are an integral part of these statements.
</TABLE>
<PAGE>
Page 4
<TABLE>
                                 CHRIS-CRAFT INDUSTRIES, INC.
                         CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                       (In thousands of dollars except per share data)
                                         (UNAUDITED)
                       -----------------------------------------------
<CAPTION>
                                                  Three Months              Nine Months
                                               Ended September 30,       Ended September 30,
                                             ----------------------    ---------------------- 
                                                1995        1994          1995        1994
                                             ----------  ----------    ----------  ----------
<S>                                          <C>         <C>           <C>         <C>
OPERATING REVENUES                           $  115,584  $  112,803    $  349,527  $  340,708
                                             ----------  ----------    ----------  ---------- 
OPERATING EXPENSES:
  Expenses directly associated with revenues     58,538      62,999       167,924     182,950
  Selling, general and administrative            39,611      29,628       103,184      86,555
                                             ----------  ----------    ----------  ----------
                                                 98,149      92,627       271,108     269,505
                                             ----------  ----------    ----------  ----------
    Operating income                             17,435      20,176        78,419      71,203
                                             ----------  ----------    ----------  ----------
OTHER INCOME (EXPENSE):
  Interest and other income, net                 21,224      16,995        60,977      46,297
  Equity in United Paramount Network loss       (28,722)       (159)      (95,834)       (159)
                                             ----------  ----------    ----------  ----------
                                                 (7,498)     16,836       (34,857)     46,138
                                             ----------  ----------    ----------  ----------
    Income before income taxes
      and minority interest                       9,937      37,012        43,562     117,341

INCOME TAX PROVISION (BENEFIT)                   (8,200)      2,200         7,400      36,500
                                             ----------  ----------    ----------  ----------
    Income before minority interest              18,137      34,812        36,162      80,841

MINORITY INTEREST                                (7,473)    (12,390)      (18,828)    (30,121)
                                             ----------  ----------    ----------  ----------
    Net income                               $   10,664  $   22,422    $   17,334  $   50,720
                                             ==========  ==========    ==========  ==========
Net income per share:
  Primary                                    $      .36  $      .75    $      .58  $     1.70
                                             ==========  ==========    ==========  ==========
  Fully diluted                              $      .28  $      .58    $      .45  $     1.31
                                             ==========  ==========    ==========  ==========
                                                                        3% STOCK    3% STOCK
DIVIDENDS PER COMMON SHARE                      NONE        NONE        DIVIDEND    DIVIDEND
                                             ==========  ==========    ==========  ==========

<FN>
            The accompanying notes to condensed consolidated financial statements
                          are an integral part of these statements.
</TABLE>
<PAGE>
Page 5
<TABLE>
                                 CHRIS-CRAFT INDUSTRIES, INC.
                       CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (In thousands of dollars)
                                          (UNAUDITED)
                       -----------------------------------------------
<CAPTION>
                                                                       Nine Months
                                                                   Ended September 30,
                                                                 ----------------------
                                                                    1995        1994
                                                                 ----------  ----------
<S>                                                              <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income                                                      $   17,334  $   50,720
 Adjustments to reconcile net income to net cash
  provided from operating activities:
    Film contract payments                                          (66,621)    (92,279)
    Film contract amortization                                       65,030      72,124
    Prepaid broadcast rights                                          3,639       6,284
    Depreciation and other amortization                              15,148      15,736
    Equity in United Paramount Network loss                          95,834         159
    Minority interest                                                18,828      30,121
    Other                                                             4,059         681
    Changes in assets and liabilities:  
      Accounts receivable                                            14,644      12,293
      Other assets                                                   (4,438)      1,185
      Accounts payable and other liabilities                          5,745      (1,338)
      Income taxes                                                  (26,705)     (7,330)
                                                                 ----------  ----------
          Net cash provided from operating activities               142,497      88,356
                                                                 ----------  ----------
CASH FLOWS FROM INVESTING ACTIVITIES:
 Dispositions (purchases) of marketable securities, net             (45,027)    201,077
 Investment in and advances to United Paramount Network            (105,856)       (289)
 Capital expenditures, net                                           (5,102)     (8,555)
 Other                                                               (8,649)        (26)
                                                                 ----------  ----------
          Net cash provided from (used in) investing activities    (164,634)    192,207
                                                                 ----------  ----------
CASH FLOWS FROM FINANCING ACTIVITIES:
 Capital transactions of subsidiaries                               (45,657)    (69,368)
 Purchase of treasury stock                                         (17,795)     (9,025)
 Proceeds from option exercises                                       2,175      12,638
 Other                                                                 (448)       (455)
                                                                 ----------  ----------
          Net cash used in financing activities                     (61,725)    (66,210)
                                                                 ----------  ----------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                (83,862)    214,353

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                      226,183      40,497
                                                                 ----------  ----------
CASH AND CASH EQUIVALENTS, END OF PERIOD                         $  142,321  $  254,850
                                                                 ==========  ==========
<FN>
         The accompanying notes to condensed consolidated financial statements 
                        are an integral part of these statements.
</TABLE>
<PAGE>
Page 6
                        CHRIS-CRAFT INDUSTRIES, INC.
                        ----------------------------
           NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
           ----------------------------------------------------
 
 1.   PRINCIPLES OF CONSOLIDATION:
 
      The accompanying condensed consolidated financial statements include
 the accounts of Chris-Craft Industries, Inc. and its subsidiaries,
 including Chris-Craft's majority owned (73% at September 30, 1995)
 television broadcasting subsidiary, BHC Communications, Inc., and BHC's
 majority owned (57% at September 30, 1995) subsidiary, United Television,
 Inc. (UTV).  The pro rata interests of BHC and UTV minority shareholders in
 the net income of the respective companies are reflected in minority
 interest in the accompanying condensed consolidated statements of income. 
 The minority shareholders' interests in the net assets of BHC and UTV are
 reflected as minority interest in the accompanying condensed consolidated
 balance sheets.  Intercompany accounts and transactions have been
 eliminated.
 
      The financial information included herein has been prepared by
 Chris-Craft, without audit, pursuant to the rules and regulations of the
 Securities and Exchange Commission.  Certain information and footnote
 disclosures normally included in financial statements prepared in
 accordance with generally accepted accounting principles have been
 condensed or omitted pursuant to such rules and regulations.  However,
 Chris-Craft believes that the disclosures herein are adequate to make the
 information presented not misleading.  It is suggested that these condensed
 consolidated financial statements be read in conjunction with the financial
 statements and the notes thereto included in Chris-Craft's latest annual
 report on Form 10-K.  The information furnished reflects all adjustments
 (consisting only of normal recurring adjustments) which are, in the opinion
 of management, necessary to a fair statement of the results for the interim
 periods.  Certain amounts for 1994 have been reclassified to conform to the
 1995 presentation.  The results for these interim periods are not
 necessarily indicative of results to be expected for the full year, due to
 seasonal factors, among others.
 
 2.   MARKETABLE SECURITIES:  
 
      In accordance with Statement of Financial Accounting Standards (SFAS)
 No. 115, "Accounting for Certain Investments in Debt and Equity
 Securities", Chris-Craft classifies its marketable securities as available-
 for-sale.
 
      At September 30, 1995, Chris-Craft's marketable securities, which
 consisted substantially of U.S. Government securities, had
 a carrying value of $1,371,849,000 and a fair value of $1,382,796,000.  The
 difference of $10,947,000 ($5,216,000 net of income taxes and minority
 interests) is reflected as an adjustment to shareholders' investment in the
 accompanying condensed consolidated balance sheet.  Of the investments in
 U.S. Government securities, 80% mature within one year, 96% within two
 years and all within four years.
 
      At December 31, 1994, Chris-Craft's marketable securities, which
 consisted substantially of U.S. Government securities, had a carrying value
 of $1,319,763,000 and a fair value of $1,294,278,000.  The difference of
 $25,485,000 ($9,794,000 net of income taxes and minority interests) is
 <PAGE>
Page 7
 
 reflected as an adjustment to shareholders' investment in the accompanying
 condensed consolidated balance sheet.
 
 3.   SHAREHOLDERS' INVESTMENT:
 
      Chris-Craft paid 3% stock dividends on its common and Class B common
 stock in the respective shares of such classes on April 4, 1995.  During
 the nine months ended September 30, 1995, 212,480 shares of Class B common
 stock were converted into 212,480 shares of common stock, and 3,819 shares
 of $1.40 convertible preferred stock were converted into 72,282 shares of
 common stock and 45,555 shares of Class B common stock.  In addition,
 75,740 shares of common stock were issued upon exercise of stock options. 
 During the nine months period, 508,900 shares of common stock were
 purchased by Chris-Craft, all of which were held in treasury at September
 30, 1995.  As of September 30, 1995, 1,197,402 shares of common stock and
 12,899 shares of $1.00 prior preferred stock remained authorized for
 purchase.
 
      As of September 30, 1995, shares of Chris-Craft's authorized but
 unissued common stock were reserved for issuance as follows:
 
                                                   Shares
                                                 ----------
     Conversion of Class B common stock           7,626,410
     Conversion of $1.40 convertible
       preferred stock                            8,647,241*
     Stock options (including options
       outstanding for 1,772,455 shares)          3,503,185
                                                 ----------
                                                 19,776,836
                                                 ==========
 
          *Including Class B common shares.
 
 4.   COMMITMENTS AND CONTINGENCIES:
 
      Commitments of BHC's television stations for film contracts entered
 into but not available for broadcasting at September 30, 1995 aggregated
 approximately $141 million, including $27.8 million applicable to UTV.  BHC
 also has a commitment to invest over time up to $65 million, including $40
 million applicable to UTV, in management buyout limited partnerships.
 
      In July 1994, BHC and Viacom Inc.'s Paramount Television Group formed
 the United Paramount Network, a fifth broadcast television network which
 premiered January 1995.  BHC currently owns 100% of UPN, and accounts for
 UPN under the equity method since Paramount has an option exercisable
 through January 15, 1997 to acquire an interest in UPN equal to that of
 BHC.  The option price is equivalent to approximately one-half of BHC's
 aggregate cash contributions to UPN through the exercise date, plus
 interest; payment may be deferred through the option expiration date.  The
 cost of developing UPN will be significant, and BHC has agreed to make
 minimum UPN expenditures of at least $150,000,000 through 1996.  Network
 expenditures and related operating losses are expected to significantly
 exceed such amount for that period, and to remain substantial thereafter.
 
      As set forth in Item 1 herein and Note 9 of Notes to Consolidated
 Financial Statements in Chris-Craft's 1994 Annual Report, Chris-Craft has
 <PAGE>
Page 8
 
 been named as a defendant in certain actions seeking recovery for
 environmental damage allegedly related to the activities (discontinued
 since 1983) of 50% owned Montrose Chemical Corporation of California. 
 Chris-Craft does not presently consider liability to be "probable" in any
 of the Montrose-related matters, and no amount has been reserved in Chris-
 Craft's financial statements.
 
 5.   INCOME PER SHARE:
 
      Computations of income per share, all of which give retroactive effect
 to the April 1995 3% stock dividend, are as follows (in thousands of
 dollars except per share amounts):
 
 <TABLE>
 <CAPTION>
                                             Three Months                 Nine months
                                          Ended September 30,           Ended September 30,
                                       -------------------------     ------------------------
                                          1995         1994             1995          1994
                                       -----------  ------------     -----------  -----------
 <S>                                   <C>           <C>            <C>          <C>
 PRIMARY:
 --------
 Average outstanding common
   and Class B common shares            29,015,167   29,541,706      29,096,494   29,420,425
 Assumed exercise of stock options         435,965      282,209         253,558      248,766
                                       -----------  -----------     -----------  -----------
 Total shares used in computation       29,451,132   29,823,915      29,350,052   29,669,191
                                       ===========  ===========     ===========  ===========
 
 Net income                            $    10,664  $    22,422          17,334  $    50,720
 Preferred stock dividend requirements        (115)        (117)           (349)        (354)
                                       -----------  -----------     -----------  -----------
                                       $    10,549  $    22,305          16,985       50,366
                                       ===========  ===========     ===========  ===========
 
 Primary income per share              $       .36  $       .75     $       .58  $      1.70
                                       ===========  ===========     ===========  ===========
 FULLY DILUTED:
 --------------
 Average outstanding common
   and Class B common shares            29,015,167   29,541,706      29,096,494   29,420,425
 Assumed conversion of
   $1.40 preferred stock                 8,702,285    8,795,761       8,730,148    8,907,956
 Assumed exercise of stock options         491,415      360,151         495,638      373,411
                                       -----------  -----------     -----------  -----------
 Total shares used in computation       38,208,867   38,697,618      38,322,280   38,701,792
                                       ===========  ===========     ===========  ===========
 
 Net income                            $    10,664  $    22,422     $    17,334  $    50,720
 Preferred stock dividend requirements         (18)         (18)            (55)         (55)
                                       -----------  -----------     -----------  -----------
                                       $    10,646  $    22,404     $    17,279  $    50,665
                                       ===========  ===========     ===========  ===========
 
 Fully diluted income per share        $       .28  $       .58     $       .45  $      1.31
                                       ===========  ===========     ===========  ===========
 </TABLE>
 <PAGE>
Page 9
                   CHRIS-CRAFT INDUSTRIES, INC.
                   ----------------------------
               MANAGEMENT'S DISCUSSION AND ANALYSIS
               ------------------------------------
         OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
         ------------------------------------------------
 
 Liquidity and Capital Resources
 -------------------------------
 Chris-Craft's financial position is strong and highly liquid.  Cash and
 marketable securities totalled $1.5 billion at September 30, 1995, and
 Chris-Craft has no debt outstanding.  While Chris-Craft's 73% owned
 television broadcasting subsidiary, BHC Communications, Inc., is currently
 expending significant amounts to develop its United Paramount Network, such
 expenditures for the first nine months of 1995 were less than the cash flow
 generated by BHC's television station group.
 
 Chris-Craft's operating cash flow is generated primarily by the Television
 Division's core television station group.  Broadcast cash flow reflects
 station operating income plus depreciation and film contract amortization
 less film contract payments.  The relationship between film contract
 payments and related amortization may vary greatly between periods
 (payments exceeded amortization by $1.6 million and $20.2 million,
 respectively, in the first nine months of 1995 and 1994), and is dependent
 upon the mix of programs aired and payment terms of the stations'
 contracts.  Station earnings rose 11% in the first nine months of 1995, and
 broadcast cash flow increased 34% from the corresponding 1994 amount, to
 $117.8 million from $88.1 million last year.  Although broadcast cash flow
 is often used in the broadcast television industry as an ancillary measure,
 it is not synonymous with operating cash flow computed in accordance with
 generally accepted accounting principles, and should not be considered
 alone or as a substitute for measures of performance computed in accordance
 with generally accepted accounting principles.
 
 Chris-Craft's cash flow additionally reflects earnings associated with its
 cash and marketable securities, most of which are held by BHC. 
 Consolidated cash and marketable securities totalled $1.5 billion at
 September 30, 1995 and December 31, 1994.  First nine months operating cash
 flow of $142.5 million was more than offset by United Paramount Network
 funding of $105.9 million, treasury stock purchases by BHC and UTV
 totalling $38.2 million and Chris-Craft treasury stock purchases of $17.8
 million.
 
 BHC generates most of Chris-Craft's consolidated cash flow.  Parent company
 obligations consist solely of corporate office expenditures, current and
 accrued.  Parent company cash balances were augmented in January 1993 upon
 the receipt of $36 million in dividends from BHC, which paid a special cash
 dividend of $2.00 per share, and were again augmented in April 1995 upon
 the receipt of $18 million in dividends from BHC, which paid a special cash
 dividend of $1.00 per share.  BHC has no plan to pay dividends on a regular
 basis.  Chris-Craft parent company cash balances are substantially in
 excess of normal operating requirements.
 
 Since April 1990, BHC's Board of Directors has authorized the purchase of
 up to 5,500,000 Class A common shares.  Through September 30, 1995,
 4,754,487 shares had been purchased for a total cost of $282.1 million,
 including $16.9 million applicable to shares purchased in the first nine
 months of 1995.  Chris-Craft ownership in BHC accordingly increased to 73%
 <PAGE>
Page 10
 
 at September 30, 1995 from 60% at December 31, 1989.
 
 Chris-Craft intends to expand its operations in the media, entertainment
 and communications industries and to explore business opportunities in
 other industries.  Chris-Craft believes it is capable of raising
 significant additional capital to augment its already substantial financial
 resources, if desired, to fund such additional expansion.
 
 In July 1994, BHC and Viacom Inc.'s Paramount Television Group formed the
 United Paramount Network, a fifth broadcast television network which
 premiered January 1995.  BHC currently owns 100% of UPN, and Paramount has
 an option through January 15, 1997 to acquire an interest in UPN equal to
 that of BHC.  The option price is equivalent to approximately one-half of
 BHC's aggregate cash contributions to UPN through the exercise date, plus
 interest.  BHC expenditures related to UPN totalled $105.9 million in the
 first nine months of 1995.  The cost of developing UPN will be significant,
 and BHC has agreed to make minimum UPN expenditures of at least $150
 million through 1996.  UPN expenditures and related operating losses are
 expected to significantly exceed such amount for that period, and to remain
 substantial thereafter.
 
 Chris-Craft's television stations make commitments for programming that
 will not be available for telecasting until future dates.  At September 30,
 1995, commitments for such programming totalled approximately $141 million,
 including $27.8 million applicable to UTV.  In addition, BHC has a
 commitment to invest over time up to $65 million, including $40 million
 applicable to UTV, in management buyout limited partnerships.  Chris-Craft
 capital expenditures generally have not been material in relation to its
 financial position, and the related capital expenditure commitments at
 September 30, 1995 (including any related to UPN) were not material. 
 Chris-Craft expects that expenditures for UPN, future film contract
 commitments and capital requirements for its present business will be
 satisfied primarily from operations, marketable securities or cash
 balances.
 
 As set forth in Note 4, Chris-Craft has been named as a defendant in
 certain actions seeking recovery for environmental damage allegedly related
 to the activities (discontinued since 1983) of 50% owned Montrose Chemical
 Corporation of California.  As further set forth in Note 4, Chris-Craft
 does not presently consider liability to be "probable" in any of the
 Montrose-related matters, and no amount has been reserved in Chris-Craft's
 financial statements.
 
 Results of Operations
 ---------------------
 
 Chris-Craft 1995 third quarter operating results reflect record television
 station earnings and a substantial increase in interest income.  However,
 UPN start-up losses lowered net income, to $10,664,000, or $.36 per share,
 from $22,422,000, or $.75 per share, in last year's period.  Excluding UPN,
 pretax income increased 4%, to $38,659,000 from $37,171,000.
 
 Chris-Craft also achieved substantial increases in station earnings and
 interest income for the first nine months of 1995.  However, after UPN
 start-up losses, Chris-Craft net income for the period declined to
 $17,334,000, or $.58 per share, from $50,720,000, or $1.70 per share, last
 year.  Excluding UPN, Chris-Craft pretax income for the nine months
 <PAGE>
Page 11
 
 increased 19%, to $139,396,000 from $117,500,000.
 
 Operating revenues and operating income for the third quarter and nine
 month periods ended September 30, 1995 and 1994 are as follows (in
 thousands):
                         Operating Revenues    Operating Income
                         ------------------   ------------------
                           1995      1994       1995      1994
                         --------  --------   --------  --------
 Third Quarter
   Television Division   $111,551  $107,259  $  24,411 $  25,162
   Industrial Division      4,033     5,544        321      (645)
   Corporate and other       -         -        (7,297)   (4,341)
                         --------  --------   --------  --------
                         $115,584  $112,803   $ 17,435  $ 20,176
                         ========  ========   ========  ========
 Nine Months
   Television Division   $336,979  $323,059  $  91,989 $  82,228
   Industrial Division     12,548    17,649      1,191       237
   Corporate and other       -         -       (14,761)  (11,262)
                         --------  --------   --------  --------
                         $349,527  $340,708   $ 78,419  $ 71,203
                         ========  ========   ========  ========
 
 Television station earnings increased 2% in the third quarter, to
 $33,697,000 from $33,095,000 last year, as a 2% increase in station
 operating revenues more than offset a 3% increase in station programming
 expenses.  The moderate increase in revenues reflects a softening in demand
 for television advertising.  Such demand appears to be softening further
 and Chris-Craft expects fourth quarter revenues to be less than last
 year's.  Chris-Craft believes that broadcast television stations in general
 are experiencing a reduction in the level of fourth quarter business. 
 Station earnings for the first nine months of 1995 increased 11%, to
 $112,083,000 from $100,596,000, reflecting a 4% increase in operating
 revenues and a 4% decline in programming expenses. Primarily due to one-
 time expenses of approximately $3.7 million associated with establishing a
 national sales representative subsidiary, Television Division operating
 income, which further reflects program development expenses, goodwill
 amortization and corporate office expenses of BHC and UTV, declined
 slightly in the third quarter, to $24,411,000 from last year's $25,162,000. 
 Nine month Television Division operating income rose 12% even after the
 one-time expenses, to $91,989,000 from last year's $82,228,000.
 
 Industrial Division operating results have improved in 1995 following the
 discontinuance of operations at its unprofitable fiber products plant. 
 While the elimination of that business resulted in a decline in 1995
 Industrial Division operating revenues, the Division's continuing
 businesses produced revenue increases of 7% in both the third quarter and
 the nine months.  Third quarter Industrial Division operating income
 totalled $321,000, versus a $645,000 loss last year, and nine month
 operating income increased to $1,191,000 from $237,000 last year.
 
 After Chris-Craft corporate office expense, which increased in the 1995
 periods primarily due to the rise in retirement plan expense resulting from
 the third quarter increase in the market value of Chris-Craft common stock,
 consolidated operating income declined 14% in the third quarter, to
 <PAGE>
Page 12
 
 $17,435,000 from $20,176,000.  Nine month consolidated operating income
 rose 10%, to $78,419,000 from $71,203,000.
 
 UPN's pretax losses of $28,722,000 in the third quarter and $95,834,000 in
 the nine month period were as expected, and are reflected in Chris-Craft's
 financial statements under the equity method.  UPN is in its infancy, and
 will incur substantial start-up losses for several years.
 
 Interest and other income increased to $21,224,000 from $16,995,000 in the
 third quarter, and to $60,977,000 from $46,297,000 in the nine month
 period, primarily reflecting higher interest rates on consolidated money
 market holdings.
 
 Income taxes in both third quarters reflect $20 million reversals by BHC of
 state income taxes it accrued in 1989 and 1990, following the favorable
 resolution in each quarter of routine audits.
  <PAGE>
Page 13
                     CHRIS-CRAFT INDUSTRIES, INC.
                     ----------------------------
                      PART II. OTHER INFORMATION
                      --------------------------
 
 Item 1.   Legal Proceedings.
           ------------------
 
           As previously reported, on March 22, 1995, the U.S. District
 Court in United States of America, et al. v. Montrose Chemical Corporation
 of California, et al. granted the defendants' motion for summary judgment
 on the first cause of action in the case, ruling that the government's
 claim for natural resource damages was barred by the applicable statute of
 limitations.  The effect of this ruling is to dismiss the natural resource
 damages claim in the action, while the second claim, seeking recovery for
 alleged contamination at the former Montrose plant site in Torrance,
 California, will continue to be litigated.  In addition, the Court ruled on
 other motions that the Comprehensive Environmental Response, Compensation
 and Liability Act ("CERCLA") would limit the collective maximum liability
 of Montrose, Chris-Craft and the Zeneca Affiliates for natural resource
 damages to $50 million and further that the government would bear the
 burden of proving that any damages that occurred before CERCLA's enactment
 in 1980 are indivisible from post-enactment damages.  The District Court
 certified its rulings for appeal, and on May 22, 1995 the U.S. Court of
 Appeals for the Ninth Circuit accepted the appeal.  Although the Ninth
 Circuit indicated it would hear the appeal on an expedited basis, no oral
 argument has yet been scheduled.  Montrose, Chris-Craft and the Zeneca
 Affiliates will vigorously defend the District Court's rulings in the
 appeal, but the timing or outcome of the appeal cannot be predicted at this
 time.
 
 On August 30, 1995 Chris-Craft was among a group of defendants, including
 Montrose and Zeneca, which reached a settlement and accordingly were
 dismissed from T H Agriculture and Nutrition Company, Inc. v. Aceto
 Chemical Co., Inc., Case No. CV-F-93-5404 DWW/DLB in the Federal District
 Court for the Eastern District of California.  Chris-Craft did not
 contribute to the settlement, but received full releases from the
 plaintiffs.
 
 Item 6.   Exhibits and Reports on Form 8-K.
           ---------------------------------
 
           (a)  The following exhibits are filed herewith:
 
         Exhibit No.            Description
         -----------            -----------
 
            27                  Financial Data Schedule
 
           (b)  No report on Form 8-K was filed during the quarter for which
 this report is filed.
 <PAGE>
Page 14
 
                              SIGNATURE
                              ---------
 
          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 thereunto duly authorized.
 
 
                                      CHRIS-CRAFT INDUSTRIES, INC.
                                      ----------------------------
                                              (Registrant)
 
 
                                   By:    /s/ JOELEN K. MERKEL
                                      ----------------------------
                                            Joelen K. Merkel
                                     Vice President and Treasurer
                                    (Principal Accounting Officer)
 
 Date:  November 14, 1995
 <PAGE>
Page 15
                           EXHIBIT INDEX
 
 
 Incorporated by
 Reference to:        Exhibit No.              Exhibit
 -------------        -----------              -------
 
                         27           Financial Data Schedule