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      June 30, 1999
                               --------------------------------
                               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 July 31, 1999 there were 25,319,453 shares of the issuer's Common
Stock outstanding and 8,228,427 shares of the issuer's Class B Common
Stock outstanding.

                  PART I -- FINANCIAL INFORMATION
                    ITEM 1. FINANCIAL STATEMENTS
                     CHRIS-CRAFT INDUSTRIES, INC.
                CONDENSED CONSOLIDATED BALANCE SHEETS
                     (In thousands of dollars)
                              (UNAUDITED)
                -------------------------------------

                                            June 30,    December 31,
                                              1999          1998
                                          -----------   -----------
ASSETS
------
CURRENT ASSETS:
  Cash and cash equivalents               $   186,157   $   204,297
  Marketable securities (substantially
    all U.S. Government securities)         1,205,062     1,211,246
  Accounts receivable, net                     93,320        88,382
  Film contract rights                         46,091        99,883
  Prepaid expenses and other current
    assets                                     60,548        52,933
                                          -----------   -----------
    Total current assets                    1,591,178     1,656,741
                                          -----------   -----------
INVESTMENTS                                    84,264        69,881
                                          -----------   -----------
FILM CONTRACT RIGHTS, less current
 portion                                       15,932        23,619
                                          -----------   -----------
PROPERTY AND EQUIPMENT, net                    52,695        51,579
                                          -----------   -----------
INTANGIBLE ASSETS                             421,945       428,254
                                          -----------   -----------
OTHER ASSETS                                   17,467        15,349
                                          -----------   -----------
                                          $ 2,183,481   $ 2,245,423
                                          ===========   ===========

LIABILITIES AND SHAREHOLDERS' INVESTMENT
----------------------------------------
CURRENT LIABILITIES:
  Film contracts payable within one year  $    73,830   $    96,595
  Accounts payable and accrued expenses       111,983       130,515
  Income taxes payable                         39,118        41,653
                                          -----------   -----------
    Total current liabilities                 224,931       268,763
                                          -----------   -----------
FILM CONTRACTS PAYABLE AFTER ONE YEAR          38,972        62,050
                                          -----------   -----------
OTHER LONG-TERM LIABILITIES                    24,928        26,321
                                          -----------   -----------
MINORITY INTEREST                             485,936       479,820
                                          -----------   -----------
COMMITMENTS AND CONTINGENCIES (NOTE 7)

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 234,609
   shares; outstanding 234,609 and 235,935
   shares                                       4,106         4,129
  Class B common stock - par value $.50
   per share; currently authorized
   50,000,000 shares; outstanding 8,236,413
   and 8,127,937 shares                         4,118         4,064
  Common stock - par value $.50 per share;
   currently authorized 100,000,000 shares;
   outstanding 25,525,989 and 24,556,196
   shares                                      13,554        13,069
  Capital surplus                             420,750       376,375
  Retained earnings                           956,453       993,184
  Treasury stock, at cost                     (10,531)         -
  Accumulated other comprehensive income       18,686        16,070
                                          -----------   -----------
                                            1,408,714     1,408,469
                                          -----------   -----------
                                          $ 2,183,481   $ 2,245,423
                                          ===========   ===========

The accompanying notes to condensed consolidated financial statements
                 are an integral part of these statements.

                      CHRIS-CRAFT INDUSTRIES, INC.
               CONDENSED CONSOLIDATED STATEMENTS OF INCOME
             (In thousands of dollars except per share data)
                              (UNAUDITED)
             -----------------------------------------------



                            Three Months             Six Months
                           Ended June 30,           Ended June 30,
                       ----------------------  ----------------------
                          1999        1998        1999       1998
                       ----------  ----------  ----------  ----------
OPERATING REVENUES     $  123,825  $  125,685  $  235,285  $  230,659
                       ----------  ----------  ----------  ----------
OPERATING EXPENSES:
  Expenses directly
    associated with
    revenues               56,879      55,539     111,651     110,150
  Selling, general and
    administrative         39,259      35,658      76,381      76,681
                       ----------  ----------  ----------  ----------
                           96,138      91,197     188,032     186,831
                       ----------  ----------  ----------  ----------
    Operating income       27,687      34,488      47,253      43,828
                       ----------  ----------  ----------  ----------
OTHER INCOME (EXPENSE):
  Interest and other
    income, net            24,464      20,013      43,140      39,724
  Equity in United
    Paramount Network
    loss                  (27,188)    (22,471)    (57,338)    (42,381)
                       ----------  ----------  ----------  ----------
                           (2,724)     (2,458)    (14,198)     (2,657)
                       ----------  ----------  ----------  ----------
    Income before income
      taxes and minority
      interest             24,963      32,030      33,055      41,171

INCOME TAX PROVISION       10,600      12,000      14,200      15,500
                       ----------  ----------  ----------  ----------
    Income before
      minority interest    14,363      20,030      18,855      25,671

MINORITY INTEREST          (7,641)     (7,908)    (11,385)    (11,779)
                       ----------  ----------  ----------  ----------
    Net income         $    6,722  $   12,122  $    7,470  $   13,892
                       ==========  ==========  ==========  ==========
Earnings per share:
  Basic                $      .20  $      .36  $      .22  $      .41
                       ==========  ==========  ==========  ==========
  Diluted              $      .16  $      .28  $      .18  $      .33
                       ==========  ==========  ==========  ==========

        The accompanying notes to condensed consolidated financial
             statements are an integral part of these statements.

                 CHRIS-CRAFT INDUSTRIES, INC.
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                     (In thousands of dollars)
                            (UNAUDITED)
           -----------------------------------------------

                                                     Six Months
                                                    Ended June 30,
                                                 --------------------
                                                    1999       1998
                                                 ---------  ---------

CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income                                      $   7,470  $  13,892
 Adjustments to reconcile net income to net
  cash provided from operating activities:
    Film contract payments                         (50,302)   (50,642)
    Film contract amortization                      47,943     41,455
    Depreciation and other amortization             11,633     10,944
    Equity in United Paramount Network loss         57,338     42,381
    Minority interest                               11,385     11,779
    Other                                           (7,714)      (653)
    Changes in assets and liabilities:
      Accounts receivable                           (4,938)    (1,010)
      Other assets                                  (7,939)    (1,807)
      Accounts payable and other liabilities           240     (1,759)
      Income taxes                                     914      6,548
                                                 ---------  ---------
          Net cash provided from operating
           activities                               66,030     71,128
                                                 ---------  ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
 Disposition of marketable securities, net          10,869     55,192
 Investment in United Paramount Network            (59,950)   (44,250)
 Station acquisition (includes $77,712 of
  intangibles)                                        -       (80,280)
 Other investments                                 (12,460)   (21,734)
 Capital expenditures, net                          (6,440)    (4,605)
 Other                                                (637)      (845)
                                                 ---------  ---------
          Net cash used in investing activities    (68,618)   (96,522)
                                                 ---------  ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
 Capital transactions of subsidiaries               (5,894)   (49,283)
 Purchase of treasury stock                        (10,531)   (10,758)
 Proceeds from option exercises                      1,075      3,039
 Other                                                (202)      (209)
                                                 ---------  ---------
          Net cash used in financing activities    (15,552)   (57,211)
                                                 ---------  ---------
NET DECREASE IN CASH AND CASH EQUIVALENTS          (18,140)   (82,605)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD     204,297    290,009
                                                 ---------  ---------
CASH AND CASH EQUIVALENTS, END OF PERIOD         $ 186,157  $ 207,404
                                                 =========  =========

The accompanying notes to condensed consolidated financial statements
              are an integral part of these statements.

                       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 (79.96% at June 30, 1999)
television broadcasting subsidiary, BHC Communications, Inc., and BHC's
majority owned (58.5% at June 30, 1999) 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 for a fair statement of the
results for the interim periods. 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:

     All of Chris-Craft's marketable securities have been categorized as
available-for-sale and are carried at fair market value.  Since
marketable securities are available for current operations, all are
included in current assets.

     At June 30, 1999, Chris-Craft's marketable securities consisted of
U.S. Government securities, which had a cost of $1,098,178,000 and a fair
value of $1,097,292,000, and equity securities, which had a cost of
$68,288,000 and a fair value of $107,770,000.  The difference between
aggregate cost and fair value of $38,596,000 ($18,686,000, net of income
taxes and minority interests) is reflected as an increase to
shareholders' investment in the accompanying condensed consolidated
balance sheet.  Of the investments in U.S. Government securities, all
mature within one year.

     At December 31, 1998, Chris-Craft's marketable securities consisted
of U.S. Government securities, which had a cost of $1,093,744,000 and a
fair value of $1,095,373,000, and equity securities, which had a cost of
$83,881,000 and a fair value of $115,873,000.  The difference between
aggregate cost and fair value of $33,621,000 ($16,070,000, net of income
taxes and minority interests) is reflected as an increase to
shareholders' investment in the accompanying condensed consolidated
balance sheet.

3.   UNITED PARAMOUNT NETWORK:

     In July 1994, BHC, along with Viacom Inc.'s Paramount Television
Group, formed the United Paramount Network, a broadcast television
network which premiered in January 1995.  BHC owned 100% of UPN from its
inception through January 15, 1997, when Viacom completed the exercise of
its option to acquire a 50% interest in UPN.  BHC and Viacom now share
equally in UPN funding requirements and in UPN losses.

     UPN has been organized as a partnership, and BHC's partnership
interest is accounted for under the equity method.  The carrying value of
such interest totalled $3,227,000 at June 30, 1999 and $615,000 at
December 31, 1998, and is included in Investments in the accompanying
condensed consolidated balance sheets.  UPN is still in its development
and is expected to continue to incur significant start-up losses and to
require significant funding for the next several years.

     UPN's condensed statements of operations are as follows (in
thousands):
                            Three Months             Six Months
                           Ended June 30,          Ended June 30,
                       ---------------------    ---------------------
                          1999        1998         1999       1998
                       ---------   ---------    ---------   ---------
Operating revenues     $  32,918   $  26,593    $  63,372   $  47,796
Operating expenses        87,662      71,987      178,726     133,357
                       ---------   ---------    ---------   ---------
    Operating loss       (54,744)    (45,394)    (115,354)    (85,561)
Other income, net            367         451          677         798
                       ---------   ---------    ---------   ---------
    Net loss           $ (54,377)  $ (44,943)   $(114,677)  $ (84,763)
                       =========   =========    =========   =========

4.   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 1, 1999.  During
the six months ended June 30, 1999, 133,883 shares of Class B common
stock were converted into 133,883 shares of common stock, and 1,326
shares of $1.40 convertible preferred stock were converted into 46,044
shares of common stock and 46 shares of Class B common stock.  In
addition, 91,093 shares of common stock, including 34,780 shares held in
treasury, were issued upon exercise of stock options, and 34,780 shares
of common stock were received in partial payment of option exercises.
During the six month period, 233,400 shares of common stock were
purchased by Chris-Craft, all of which were held in treasury at June 30,
1999.  As of June 30, 1999, 598,702 shares of common stock and 12,899
shares of $1.00 prior preferred stock remained authorized for purchase.

     As of June 30, 1999, shares of Chris-Craft's authorized but unissued
common stock were reserved for issuance as follows:

                                                        Shares
                                                      ----------
    Conversion of Class B common stock                 8,236,413
    Conversion of $1.40 convertible preferred stock    8,183,818*
    Stock options (including options
      outstanding for 2,764,214 shares)                5,333,868
                                                      ----------
                                                      21,754,099
                                                      ==========
         *Including Class B common shares.

5.   COMPREHENSIVE INCOME:

     Effective January 1, 1998, Chris-Craft adopted Statement of
Financial Accounting Standards No. 130, "Reporting Comprehensive Income."
Other comprehensive income includes only unrealized gains and losses on
marketable securities classified as available-for-sale (see Note 2), net
of a reclassification adjustment for gains (losses) included in net
income.  Comprehensive income is as follows (in thousands):

                                     Three Months      Six Months
                                         Ended           Ended
                                       June 30,         June 30,
                                   ----------------  ----------------
                                     1999     1998     1999     1998
                                   -------  -------  -------  -------
Net income                         $ 6,722  $12,122  $ 7,470  $13,892
Other comprehensive income (loss),
 net of taxes and minority
 interests                             191     (717)   2,616    6,713
                                   -------  -------  -------  -------
Comprehensive income               $ 6,913  $11,405  $10,086  $20,605
                                   =======  =======  =======  =======

6.   CAPITAL TRANSACTIONS OF SUBSIDIARIES:

     Since April 1990, BHC's Board of Directors has authorized the
purchase of up to 7,081,087 Class A common shares.  Through June 30,
1999, 6,895,590 shares were purchased, including 226,503 shares from UTV
in June 1998, for a total cost of $516.5 million, including $62.5 million
in the first six months of 1998.  From January 1, 1997 through June 30,
1999, UTV purchased 107,500 of its common shares at an aggregate cost of
$10.6 million, including $.8 million in the first six months of 1999 and
$7.0 million in the first six months of 1998.

     Such purchases, together with proceeds from the exercise of UTV
stock options and, in both periods, BHC's special $1.00 per share
dividend and UTV's $.50 per share dividend are reflected in capital
transactions of subsidiaries in the accompanying condensed consolidated
statements of cash flows, net of intercompany eliminations and minority
interests.

7.   COMMITMENTS AND CONTINGENCIES:

     Commitments of Chris-Craft's television stations for film contracts
entered into but not available for broadcasting at June 30, 1999
aggregated approximately $368.5 million, including $98.5 million
applicable to UTV.  BHC also has a remaining commitment to invest over
time up to $28.5 million, of which $17.8 million is in investment limited
partnerships, including $14.0 million applicable to UTV.

     BHC expects to make significant expenditures developing UPN.  See
Note 3.

     In 1997, UTV signed a definitive agreement to purchase the assets of
UHF television station WRBW in Orlando, Florida, for $60 million and
possible future consideration.  See Note 10.

     As set forth in Note 9 of Notes to Consolidated Financial Statements
in Chris-Craft's 1998 Annual Report, Chris-Craft has been named as a
defendant (or a "potentially responsible party") in certain actions
seeking recovery for environmental damage allegedly related to (i) the
activities (discontinued since 1983) of 50% owned Montrose Chemical
Corporation of California ("Montrose California") and (ii) the activities
of Montrose Chemical Co., a predecessor company to Chris-Craft.  Chris-
Craft does not presently consider liability to be "probable" in any of
the Montrose California related matters and is unable to determine at
this stage if it could have any liability regarding Montrose Chemical Co.
Accordingly, no amount has been reserved in Chris-Craft's financial
statements relating to these matters.

     In April 1999, a jury awarded damages totalling $7.3 million
(excluding interest and legal fees which are not expected to be material)
to a former WWOR employee who filed suit alleging discrimination by the
station.  The station and its counsel believe the award to be
unjustified, and intend to appeal.  The judgement is not yet final, and
it is not possible to reasonably estimate the amount, if any, which
ultimately will be paid.  Accordingly, no amount has been reserved in
Chris-Craft's financial statements relating to this matter.

8.   EARNINGS PER SHARE:

     Computations of earnings per share, all of which give retroactive
effect to the April 1999 3% stock dividend, are as follows (in thousands
of dollars except per share amounts):

                            Three Months             Six Months
                           Ended June 30,          Ended June 30,
                       ----------------------  ----------------------
                          1999        1998        1999        1998
                       ----------  ----------  ----------  ----------
BASIC:
------
Weighted average common
  and Class B common
  shares outstanding   33,522,204  33,504,521  33,562,489  33,489,661
                       ==========  ==========  ==========  ==========
Net income             $    6,722  $   12,122  $    7,470  $   13,892
Less:  Preferred stock
  dividends                  (100)       (102)       (201)       (207)
                       ----------  ----------  ----------  ----------
Income available to
  common shareholders  $    6,622  $   12,020  $    7,269  $   13,685
                       ==========  ==========  ==========  ==========
Basic earnings per
  share                $      .20  $      .36  $      .22  $      .41
                       ==========  ==========  ==========  ==========
DILUTED:
--------
Weighted average common
  and Class B common
  shares outstanding   33,522,204  33,504,521  33,562,489  33,489,661
Assumed conversion of
 $1.40 preferred stock  8,199,481   8,535,648   8,212,457   8,560,379
Assumed exercise of
 stock options            280,242     339,491     241,277     357,472
                       ----------  ----------  ----------  ----------
Total shares used
 in computation        42,001,927  42,379,660  42,016,223  42,407,512
                       ==========  ==========  ==========  ==========
Income available to
 common shareholders   $    6,622  $   12,020  $    7,269  $   13,685
Convertible preferred
 stock dividend                81          84         164         170
Dilution of UTV net
 income from UTV
 stock options                (26)        (26)        (34)        (40)
                       ----------  ----------  ----------  ----------
Income available
 assuming dilution     $    6,677  $   12,078  $    7,399  $   13,815
                       ==========  ==========  ==========  ==========
Diluted earnings per
 share                 $      .16  $      .28  $      .18  $      .33
                       ==========  ==========  ==========  ==========

9.   SEGMENT REPORTING:

     Chris-Craft has two reportable segments, the Television Division and
the Industrial Division.  UPN, which is accounted for on the equity
method, is also considered a reportable segment under SFAS 131,
"Disclosures about Segments of an Enterprise and Related Information."
However, all required segment information relating to UPN is included in
Note 3.

     Operating revenues and operating income for the second quarter and
six months ended June 30, 1999 and 1998 are as follows (in thousands):

                         Operating Revenues         Operating Income
                         ------------------        ------------------
                         1999      1998            1999      1998
                         --------  --------        --------  --------
Second Quarter
  Television Division    $118,369  $120,500        $ 33,169  $ 37,512
  Industrial Division       5,456     5,185           1,049       865
  Corporate and other        -         -             (6,531)   (3,889)
                         --------  --------        --------  --------
                         $123,825  $125,685        $ 27,687  $ 34,488
                         ========  ========        ========  ========
Six Months
  Television Division    $224,864  $220,075        $ 56,542  $ 54,041
  Industrial Division      10,421    10,584           1,834     1,814
  Corporate and other        -         -            (11,123)  (12,027)
                         --------  --------        --------  --------
                         $235,285  $230,659        $ 47,253  $ 43,828
                         ========  ========        ========  ========

10.  SUBSEQUENT EVENT:

     In July 1999, UTV completed the acquisition of the assets of UHF
television station WRBW in Orlando, Florida, for $60 million plus a net
amount of $8,174,000 related to the purchase of receivables, assumption
of programming obligations and other adjustments.  The purchase price was
paid from working capital.  UTV remains obligated for possible future
consideration relating to the purchase of up to $25 million.


                     CHRIS-CRAFT INDUSTRIES, INC.
                     ----------------------------

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
        -------------------------------------------------
        CONDITION AND RESULTS OF OPERATIONS
        -----------------------------------


Liquidity and Capital Resources
-------------------------------

     Chris-Craft's financial position continues to be strong and highly
liquid.  Cash and marketable securities totalled $1.39 billion at June
30, 1999, and Chris-Craft has no debt outstanding.  Chris-Craft's 79.96%
owned television broadcasting subsidiary, BHC Communications, Inc., has
expended significant funds developing United Paramount Network since
UPN's inception in 1994, but cash flow provided from BHC's operating
activities has exceeded such BHC funding of UPN.

     Chris-Craft's operating cash flow is generated primarily by its
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 $2.4 million in the six month
period ended June 30, 1999 and by $9.2 million in the corresponding 1998
period), and is dependent upon the mix of programs aired and payment
terms of the stations' contracts.  Reflecting such amounts, broadcast
cash flow in the first six months of 1999 increased 17%, while station
earnings increased 5%, as explained below.  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.
Such balances declined slightly, to $1.39 billion at June 30, 1999, from
$1.42 billion at December 31, 1998.  Such $24.3 million decline was
incurred despite six month operating cash flow of $66 million, primarily
due to UPN funding by BHC and Chris-Craft treasury stock purchases.

     BHC generates most of Chris-Craft's consolidated cash flow.  Parent
company obligations consist solely of corporate office expenditures,
current and accrued.  Most parent company cash flow in recent years has
been provided from the receipt by Chris-Craft of its share of  special
dividends paid by BHC.  BHC has paid $1.00 per share special cash
dividends in February 1999, aggregating $22.5 million, February 1998,
aggregating $22.7 million, and February 1997, aggregating $23.6 million,
with Chris-Craft receiving $18 million of each such amount.  BHC plans to
consider annually the payment of a special dividend.

     Chris-Craft, from time to time, has purchased shares of its own
capital stock, including 233,400 common shares purchased during the first
six months of 1999 at an aggregate cost of $10,531,000.  At June 30,
1999, 598,702 common shares remained authorized for purchase.

     Since April 1990, BHC's Board of Directors has authorized the
purchase of up to 7,081,087 Class A common shares.  Through December 31,
1998, 6,895,590 shares were purchased, including 226,503 shares in 1998
from United Television, Inc., BHC's 58.5% owned subsidiary, for a total
cost of $516.5 million.  During the three year period ended December 31,
1998, UTV expended $42.6 million acquiring its own common shares, and
729,649 UTV shares remained authorized for purchase at that date.  No
additional such shares were acquired by BHC during the first six months
of 1999, and UTV expended $.8 million acquiring its own common shares
during that period.

     UTV purchased the assets of UHF television station In January 1998,
WHSW, Channel 24, in Baltimore, Maryland for $80.3 million in cash.  The
station's call letters were changed to WUTB and the station became a UPN
affiliate.  In 1997, UTV signed a definitive agreement to purchase the
assets of UHF television station WRBW, Channel 65, in Orlando, Florida.
The acquisition was completed in July 1999 for $60 million plus a net
amount of $8,174,000 related to the purchase of receivables, assumption
of programming obligations and other adjustments.  The purchase price was
paid from working capital.  UTV remains obligated for possible future
consideration relating to the purchase of up to $25 million.  Chris-Craft
intends to further 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, along with Viacom Inc.'s Paramount Television
Group, formed UPN, a broadcast television network which premiered in
January 1995.  BHC owned 100% of UPN from its inception through January
15, 1997, when Viacom completed the exercise of its option to acquire a
50% interest in UPN.  BHC and Viacom now share equally in UPN losses and
funding requirements.  UPN, still in its development, incurred start-up
losses of $177.2 million in 1998, $170.2 million in 1997, $146.3 million
in 1996 and $129.3 million in 1995, and is expected for the next several
years to continue to incur substantial start-up losses and to require
significant funding.  BHC funding of UPN totalled $60 million in the
first six months of 1999.

     Chris-Craft's television stations make commitments for programming
that will not be available for telecasting until future dates.  At June
30, 1999, commitments for such programming totalled approximately $368.5
million, including $98.5 million applicable to UTV.  BHC also has a
remaining commitment to invest over time up to $28.5 million, of which
$17.8 million is in investment limited partnerships, including $14.0
million applicable to UTV.  Chris-Craft's capital expenditures generally
have not been material in relation to its financial position, and the
related capital expenditure commitments at June 30, 1999 (including any
related to UPN) were not material.  During 1998, Chris-Craft stations
began converting to digital television (DTV).  The conversion will
require the purchase of digital transmitting equipment to telecast over
newly assigned frequencies.  In April 1999, KBHK in San Francisco became
the first of the Chris-Craft stations to make the initial conversion to
DTV signal transmission.  This conversion is expected to take a number of
years and will be subject to competitive market conditions.  Chris-Craft
expects that its expenditures for UPN, future film contract commitments
and capital requirements for its present business, including the cost to
convert to DTV, will be satisfied primarily from operations, marketable
securities or cash balances.

     As set forth in Note 7, Chris-Craft has been named as a defendant
(or a "potentially responsible party") in certain actions seeking
recovery for environmental damage allegedly related to (i) the activities
(discontinued since 1983) of 50% owned Montrose Chemical Corporation of
California ("Montrose California") and (ii) the activities of Montrose
Chemical Co., a predecessor company to Chris-Craft.  As further set forth
in Note 7, Chris-Craft does not presently consider liability to be
"probable" in any of the Montrose California related matters and believes
it has been erroneously identified as a potentially responsible party and
is unable to determine at this stage if it could have any liability
regarding Montrose Chemical Co.  Accordingly, no amount has been reserved
in Chris-Craft's financial statements relating to these matters.

     Chris-Craft, which completed an assessment of its year 2000 issues
in 1998, believes that the total estimated compliance cost is immaterial.
Chris-Craft expects to have completed all remediation efforts, including
third party systems testing, by September 30, 1999.  Chris-Craft
continues to believe that such issues will not have a material effect on
its business, results of operations or financial condition.

Quantitative and Qualitative Disclosures about Market Risk
----------------------------------------------------------

     Chris-Craft is subject to certain market risk relating to its
marketable securities holdings, which are all held for other than trading
purposes.  The table below provides information as of June 30, 1999 about
the U.S. Government securities which are subject to interest rate
sensitivity and the equity securities which are subject to equity market
sensitivity.

(in thousands)
                                        Cost            Fair Value
                                        ----            ----------

  U.S. Government securities         $ 1,098,178        $ 1,097,292
  Equity securities                  $    68,288        $   107,770


Results of Operations
---------------------

     Chris-Craft net income in the second quarter of 1999 totalled
$6,722,000, or $.20 per share ($.16 per share diluted), compared to net
income in last year's second quarter of $12,122,000, or $.36 per share
($.28 per share diluted).  Lower earnings at our core television station
group and higher start-up losses at UPN were only partially offset by
increased interest and other income.

     For the first six months of 1999, Chris-Craft net income totalled
$7,470,000, or $.22 per share ($.18 per share diluted), compared to net
income of $13,892,000, or $.41 per share ($.33 per share diluted), in
last year's comparable period.  The decline in year to date earnings
mostly reflects higher UPN losses.

     Operating revenues and operating income for the second quarter and
six months ended June 30, 1999 and 1998 are as follows (in thousands):

                         Operating Revenues         Operating Income
                         ------------------        ------------------
                         1999      1998            1999      1998
                         --------  --------        --------  --------
Second Quarter
  Television Division    $118,369  $120,500        $ 33,169  $ 37,512
  Industrial Division       5,456     5,185           1,049       865
  Corporate and other        -         -             (6,531)   (3,889)
                         --------  --------        --------  --------
                         $123,825  $125,685        $ 27,687  $ 34,488
                         ========  ========        ========  ========
Six Months
  Television Division    $224,864  $220,075        $ 56,542  $ 54,041
  Industrial Division      10,421    10,584           1,834     1,814
  Corporate and other        -         -            (11,123)  (12,027)
                         --------  --------        --------  --------
                         $235,285  $230,659        $ 47,253  $ 43,828
                         ========  ========        ========  ========

     Station group earnings in the second quarter declined 9%, to
$36,372,000 from last year's $40,017,000, as station operating revenues
fell 2%, to $115,904,000 from $118,007,000, and station operating
expenses rose 2%.  Television Division operating income accordingly
declined 12%, to $33,169,000 from $37,512,000 last year.

     For the first six months of 1999, station group earnings increased
5%, to $63,071,000 from $60,241,000, mainly due to approximately $4.8
million of copyright royalties, of which $4.3 million was recorded in the
first quarter, paid to our New York station, WWOR, for prior years, when
certain of its programming was carried on distant cable systems. Station
operating revenues for the six months, including the royalty payments,
rose 2%, to $220,327,000 from $215,631,000. Reflecting the increase in
station group earnings, Television Division operating income in the
period increased 5%, to $56,542,000 from $54,041,000.

     Industrial Division results in 1999 have not varied significantly
from 1998 results.

     Corporate office expense increased $2.6 million in the second
quarter, primarily reflecting a $1.3 million increase in stock price
based retirement plan expense.  Corporate office expense for the six
month period declined $.9 million, as a $4.4 million decline in first
quarter stock price based retirement plan expense more than offset the
second quarter expense increases.

     Interest and other income, which consists mostly of amounts earned
on Chris-Craft's consolidated cash and marketable securities holdings,
rose to $24,464,000 in the second quarter from $20,013,000 last year, due
mostly to marketable security gains, which offset a decline in interest
income.  Interest and other income totalled $43,140,000 in the six month
period, compared to $39,724,000 last year.

     UPN's losses have widened in 1999 due to the expansion of the
network's prime time schedule to five weekday evenings this year from
three last year, ratings declines and expenses related to cancelled
programs. BHC's 50% share of UPN's losses rose to $27,188,000 from
$22,471,000 in the second quarter, and to $57,338,000 from $42,381,000 in
the six month period.

     Chris-Craft's effective income tax rate rose to approximately 42% in
the 1999 second quarter from approximately 37% in last year's second
quarter, and rose to approximately 43% in the 1999 six month period, from
approximately 38% in last year's corresponding period, primarily
reflecting the realization in 1998 of certain income tax benefits.

     Minority interest reflects the interest of shareholders other than
Chris-Craft in the net income of BHC, 79.96% owned by Chris-Craft at June
30, 1999 and June 30, 1998, and the interest of shareholders other than
BHC in the net income of UTV, 58.5% owned by BHC at June 30, 1999 and
58.6% owned by BHC at June 30, 1998.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
        ----------------------------------------------------------

     The information appearing in Management's Discussion and Analysis
under the caption "Quantitative and Qualitative Disclosures about Market
Risk" is incorporated herein by this reference.


                    CHRIS-CRAFT INDUSTRIES, INC.
                    ----------------------------
                     PART II. OTHER INFORMATION
                     --------------------------

Item 4.   Submission of Matters to a Vote of Security Holders.
          ----------------------------------------------------

     The following matters were submitted to a vote of security holders
at the Registrant's annual meeting of stockholders which was held on May
4, 1999.

     The following were elected directors, each receiving the number of
votes set opposite his or her name:

                                                         Broker
                           For              Withheld    Non-votes
                           ---              --------    ---------

Jeanne J. Kirkpatrick   121,870,113          417,309       -0-
Norman Perlmutter       121,875,927          411,495       -0-
William D. Siegel       121,852,750          434,672       -0-
Evan C Thompson         121,857,930          429,492       -0-

     The selection of PricewaterhouseCoopers LLP as Chris-Craft's
auditors for the current year was ratified by the following vote:

                                                              Broker
         For             Against            Abstain          Non-votes
         ---             -------            -------          ---------
    122,122,521          36,279             128,621             -0-

     The 1999 Management Incentive Plan was approved and adopted by the
following votes:
                                                              Broker
         For             Against            Abstain          Non-votes
         ---             -------            -------          ---------
    112,903,379         4,092,052           703,900          4,588,090

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.


                             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:  August 13, 1999


                          EXHIBIT INDEX


Incorporated by
Reference to:        Exhibit No.              Exhibit
-------------        -----------              -------

                        27           Financial Data Schedule