FORM 10-Q
     
     SECURITIES AND EXCHANGE COMMISSION
     Washington, DC 20549
     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
     THE SECURITIES EXCHANGE ACT OF 1934
       
     
     For the Quarter Ended June 30, 1997 Commission File Number 1-9014  
       
      
     Chyron Corporation 
     (Exact name of registrant as specified in its charter)
     
     New York                           11-2117385           
     (State or other jurisdiction of    (I.R.S. Employer Identification 
     incorporation or organization)     Number)   
     
     5 Hub Drive, Melville, NY                  11747            
     (Address of principal executive offices)   (Zip Code)
     
     (516) 845-2000                              
     (Registrant's telephone number including area code)
     
     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    
     
     APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS
     DURING THE PRECEDING FIVE YEARS
     
     Indicate by a check mark whether the Registrant has filed all
     documents and reports required to be filed by Section 12, 13 or
     15(d) of the Securities Exchange Act of 1934 subsequent to the
     distribution of securities under a plan confirmed by a court.
     
     Yes  X       No    
     
     Indicate the number of shares outstanding of each of the issuer's
     classes of common stock, as of the latest practical date.
     
     Common Stock $.01 Par Value - 32,583,486 as of August 5, 1997
     
     
     This document consists of 16 pages
     
     

     CHYRON CORPORATION
     CONSOLIDATED STATEMENTS OF OPERATIONS
     THREE MONTHS ENDED JUNE 30, 1997 AND 1996
     (In thousands except per share amounts)
     
     (Unaudited)
     
                                                  1997    1996  
                                           
     Net sales............................... $ 21,897  $22,532 
     Cost of products sold...................   11,980   11,131
     Gross profit............................    9,917   11,401
     
     Operating expenses: 
       Selling, general and administrative...    7,481    6,755  
       Research and development .............    1,937    1,191   
       Non-recurring charges.................    2,407         
                                                         
     Total operating expenses................   11,825    7,946 
     
     Operating (loss)income..................   (1,908)   3,455  
     
     Interest and other expense, net.........      434      298
     
     (Loss)income before provision for 
       income taxes..........................   (2,342)   3,157
     
     Income taxes/equivalent (benefit) 
       provision.............................     (810)   1,248 
       
     Net (loss) income....................... $ (1,532) $ 1,909
     
     Net (loss) income per common share...... $   (.05) $   .06
     
     Weighted average number of common and 
       common equivalent shares outstanding..   32,569   32,746
      
      
     See Notes to the Consolidated Financial Statements
     
     
     CHYRON CORPORATION
     CONSOLIDATED STATEMENTS OF OPERATIONS
     SIX MONTHS ENDED JUNE 30, 1997 AND 1996
     (In thousands except per share amounts)
     
     (Unaudited)
       
                                                  1997     1996  
                                           
     Net sales............................... $ 40,098  $36,257 
     Cost of products sold...................   22,031   17,070
     Gross profit............................   18,067   19,187
     
     Operating expenses: 
       Selling, general and administrative ..   14,708   10,461  
       Research and development .............    3,448    2,299   
       Non-recurring charges.................    3,082         
                                                         
     Total operating expenses................   21,238   12,760 
     
     Operating (loss)income..................   (3,171)   6,427  
     
     Interest and other expense, net.........      764      422
     
     (Loss)income before provision for 
       income taxes..........................   (3,935)   6,005
     
     Income taxes/equivalent (benefit) 
       provision.............................   (1,307)   2,216 
       
     Net (loss) income.......................   (2,628)   3,789
     
     Retained earnings - beginning of period.    9,997    1,343
     
     Retained earnings - end of period....... $  7,369  $ 5,132
      
     Net (loss) income per common share...... $   (.08) $   .12
     
     Weighted average number of common and 
       common equivalent shares outstanding..   32,482   31,860
     
     
     See Notes to the Consolidated Financial Statements
     
     
     CHYRON CORPORATION
     CONSOLIDATED BALANCE SHEETS
     (In thousands except share amounts)
     (unaudited)
     
     ASSETS
     
                                                6/30/97  12/31/96      
     Current assets:
       Cash and cash equivalents..............  $ 3,485  $ 4,555
       Accounts and notes receivable..........   21,619   25,237
       Inventories............................   23,361   23,502
       Prepaid expenses.......................    2,377      865
       Deferred tax asset.....................    7,676    6,015
       Other..................................    3,087    2,826      
     
         Total current assets.................   61,605   63,000
     
     Property and equipment...................   12,416   12,701
     Excess of cost over net tangible assets
       acquired...............................    6,487    6,439
     Investment in RT-SET.....................    2,161    2,161
     Software development costs...............    4,050    2,176
     Deferred tax asset.......................    4,911    4,709
     Other....................................      240      217
     TOTAL ASSETS                               $91,870  $91,403
     
     LIABILITIES AND SHAREHOLDERS' EQUITY
     
     Current liabilities:
       Accounts payable and accrued expenses..  $18,477  $15,828
       Current portion of long-term debt......   11,848    5,080
       Capital lease obligations..............      263      225
         Total current liabilities............   30,588   21,133
     
     Long-term debt...........................    8,282   15,163
     Capital lease obligations................       43      118
     Other....................................      745    1,043
       Total liabilities......................   39,658   37,457
     
     Commitments and contingencies
     Shareholders' equity:
      Preferred stock; par value without designation
       Authorized - 1,000,000 shares, Issued - none
      Common stock; par value $.01             
       Authorized - 150,000,000 shares           
      Issued and outstanding -
       32,583,486 shares at June 30, 1997
       32,384,635 shares at December 31, 1996.      326      324
      Additional paid-in capital..............   43,961   43,124
      Retained earnings.......................    7,369    9,997
      Cumulative translation adjustment.......      556      501 
        Total shareholders' equity............   52,212   53,946
     TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $91,870  $91,403
     
     See Notes to the Consolidated Financial Statements
     
     
     CHYRON  CORPORATION
     CONSOLIDATED STATEMENTS OF CASH FLOWS
     SIX MONTHS ENDED JUNE 30, 1997 AND 1996
     (In Thousands)
     
     (Unaudited)
     
     CASH FLOWS FROM OPERATING ACTIVITIES        1997     1996 
     Net (loss)/income........................$(2,628) $ 3,789 
     Adjustments to reconcile net (loss) 
      income to net cash provided by operating 
       activities:              
        Non-recurring charges.................  1,924
        Depreciation and amortization ........  1,909    1,521  
        (Recognition) utilization of deferred
        tax asset............................. (1,855)     485  
     Changes in operating assets and
        liabilities:
        Accounts and trade notes receivable...  3,707   (1,757)  
        Inventories...........................   (745)  (2,702)   
        Prepaid expenses ..................... (1,484)    (726)  
        Other assets..........................   (282) 
        Accounts payable and accrued expenses.  1,709      737   
        Management fee payable................          (1,000)
        Other liabilities.....................   (271)     201 
     Net cash provided by operating 
       activities.............................  1,984      548 
     
     CASH FLOWS FROM INVESTING ACTIVITIES
     Acquisition of Axis Holdings 
       Incorporated...........................   (413)          
     Acquisition of Pro-Bel, Ltd.............           (7,031)
     Acquisitions of property and equipment.. (1,016)     (972)
     Capitalized software development .......   (756)     (436)
     Other...................................             (155)   
     Net cash (used in) investing activities. (2,185)   (8,594)
           
     CASH FLOWS FROM FINANCING ACTIVITIES
     Payments of capital lease obligations...    (65)     (110)   
     Proceeds from exercise of common stock 
      purchase warrants, net.................     239 
     Proceeds from exercise of stock options.                20
     Payment of term loan....................  (1,000)     (500)
     Payments (borrowings) of revolving credit
       agreements, net.......................     200    (5,644)
     Proceeds from new credit facility, net..            11,130 
     Net cash (used in) provided by financing 
       activities............................    (865)    5,135 
     
     Effect of foreign currency rate 
       fluctuations on cash and cash 
       equivalents...........................      (4)         
     
     Change in cash and cash equivalents.....  (1,070)   (2,911)    
     Cash and cash equivalents at beginning of  
       period.................................  4,555     5,012  
     Cash and cash equivalents at end of 
       period.................................$ 3,485   $ 2,101 
     
     Noncash investing and financing activities:
     On March 31, 1997, the Company acquired the issued and outstanding
     shares of Axis Holdings Incorporated.  The consideration in addition
     to cash paid included the issuance of 173,913 shares of Chyron
     Corporation common stock valued at $750,000 and notes payable of
     $667,000.  See Note 2 for further discussion.
     
     
     CHYRON CORPORATION
     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
     UNAUDITED
     
     1. BASIS OF PRESENTATION
     
     The accompanying unaudited consolidated financial statements have
     been prepared in conformity with generally accepted accounting
     principles for interim financial reporting.  Accordingly, they do
     not include all of the information and footnotes required by
     generally accepted accounting principles for complete financial
     statements.  These statements should be read in conjunction with the
     consolidated financial statements and footnotes thereto included in
     the Company's annual report on Form 10-K for the year ended December
     31, 1996.
     
     In the opinion of management, all adjustments (consisting of normal
     recurring accruals) considered necessary for a fair presentation
     have been included.  Operating results for the three and six months
     ended June 30, 1997 are not necessarily indicative of the results
     that may be expected for the year ending December 31, 1997.
     
     2. INVESTMENT IN AXIS HOLDINGS INCORPORATED
     
     On March 31, 1997, the Company acquired 100% of the capital stock of
     Axis Holdings Incorporated ("Axis") located in Los Angeles,
     California.  Axis develops software in professional video and audio
     tools created specifically for use on the Microsoft Windows NT 
     Operating System. The purchase consisted of $368,000 in cash paid
     and professional fees, $667,000 in notes and 173,913 restricted
     shares of Chyron common stock valued at $750,000.  
     
     As stated in the purchase agreement the principal portion of the
     note is to be paid in two successive annual installments. 
     Installment payment amounts are contingent upon Axis achieving
     certain revenue targets. Installments of $350,000 and $317,000 are
     due on March 31, 1998 and March 31, 1999, respectively, provided
     that the targeted shipments of the primary product associated with
     the Axis division are realized on or before March 15, 1998.  If the
     Company does not achieve its target the installment payment will be
     $250,000 and $417,000 due on March 31, 1998 and March 31, 1999,
     respectively.  Interest is to be paid at the rate of 6% per year and
     is due with the annual installments.
     
     Additionally, payments equal to 20% of cumulative net profits on the
     Axis product line, in excess of $1 million, will be payable to the
     sellers.  The period for the calculation of cumulative net profits
     is March 31, 1997 through December 31, 1999.  Payments due for each
     year will be made on or before April 30, of the next succeeding
     year.
     
     The acquisition was accounted for as a purchase in accordance with
     APB 16.  Accordingly, the costs of the acquisition were allocated to
     the net assets acquired based on their estimated fair values.  The
     majority of the purchase price was capitalized as software
     development costs and will be amortized over the estimated economic
     life of the products, commencing when each product is available for
     general release.
     
     3. RESTATEMENT AND RECLASSIFICATION
     
     On January 24, 1997, the Company's shareholders ratified a one-for-
     three reverse stock split.  Net income (loss) per share, weighted
     average number of common and common equivalent shares outstanding,
     common stock issued and outstanding, additional paid-in-capital and
     all other common stock transactions presented in these consolidated
     financial statements have been restated to reflect the one-for-three
     reverse stock split.  In addition, certain prior year amounts have
     been reclassified to conform to current year presentation.
     
     4. ACQUISITION OF PRO-BEL LIMITED
     
     On April 12, 1996, the Company completed the acquisition of the
     issued and outstanding shares of Pro-Bel Limited ("Pro-Bel"),
     located in the United Kingdom.  Pro-Bel manufactures and distributes
     video signal and switching equipment and systems.  The consideration
     consisted of $6.9 million in cash, $5.3 million in notes, and
     3,146,205 shares of restricted Chyron common stock valued at $6.9
     million.  
     
     The acquisition of Pro-Bel was accounted for as a purchase. 
     Accordingly, the purchase price was allocated to the net assets
     acquired based upon their estimated fair values.  The excess of
     purchase price over the estimated fair value of net assets acquired
     amounted to $7,276,000, which is being amortized over 12 years using
     the straight line method.  
     
     The accompanying consolidated statements of operations include the
     operating results of the Company and Pro-Bel since the date of the
     acquisition.  Actual unaudited consolidated operating results for
     the six months ended June 30, 1997 and proforma unaudited
     consolidated operating results for the six months ended June 30,1996
     assuming the acquisition had been made as of January 1, 1996,
     respectively, are summarized below (in thousands except per share
     amounts).
      
                                 Actual   Proforma
                              June 30,   June 30,
                                   1997       1996    
     
     Net sales                  $40,098    $46,251
     Net (loss) income          $(2,628)   $ 3,852
     (Loss) earnings per share  $  (.08)   $   .12
     
     These pro forma results have been prepared for comparative purposes
     only and include adjustments as a result of applying purchase
     accounting and conversion to generally accepted accounting
     principles in the United States, such as additional depreciation
     expense and cost of goods sold due to the step-up in the basis of
     fixed assets and inventory, respectively, goodwill amortization, a
     decrease in research and development due to the capitalization of
     software development costs and increased interest expense on
     acquisition debt adjusted for tax effect.  The pro forma financial
     information is not necessarily indicative of the operating results
     that would have occurred if the acquisition had taken place on the
     aforementioned date, or of future results of operations of the
     consolidated entities.
                
     5. ACCOUNTS AND NOTES RECEIVABLE
     
     Trade accounts and notes receivable are stated net of an allowance
     for doubtful accounts of $3,021,053 and $2,850,000 at June 30, 1997
     and December 31, 1996, respectively.  
     
     6. INVENTORIES
     
     Inventories consist of the following (in thousands):
                      
                           June 30,  December 31,
                              1997          1996  
                          
     Finished goods        $11,150       $12,879
     Work-in-process         5,488         5,271
     Raw material            6,723         5,352
                           $23,361       $23,502
     
     7. NON-RECURRING CHARGES
     
     For the six months ended June 30, 1997, the Company incurred non-
     recurring charges totalling $3.1 million.   Of these total charges,
     $675,000 was related to the Company's planned secondary offering of
     common stock which was terminated due to the market valuation of the
     stock.  The remainder ($2.4 million) related mainly to a
     repositioning by the Company to address the domestic television
     market's need for high definition and multichannel standard
     definition digital equipment that complies with recent Federal
     Communication Commission rulings.  Included in this charge was a
     write-down of inventory related to product lines which have been
     discontinued as a result of a new market positioning strategy,
     severance expense related to a staff reduction in the second
     quarter, the write-off of software development projects related to
     product not within the new strategy, the consolidation of certain
     Chyron offices, the settlement of litigation dating back several
     years and the write-off of costs related to a potential acquisition
     that was abandoned due to the new strategy.
     
     8. NEW ACCOUNTING STANDARDS
     
     In February 1997, the Financial Accounting Standards Board ("FASB")
     issued Statement on Financial Accounting Standards ("SFAS") No. 128,
     "Earnings per Share."  This accounting standard is effective for
     financial statements issued for fiscal years beginning after
     December 15, 1997 and requires restatement of all prior-period
     earnings per share data presented.  Adoption of SFAS 128 will not
     have a material impact on the calculation of earnings per share for
     the periods presented.
     
     
     ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF
     OPERATIONS AND FINANCIAL CONDITIONS                                
          
     
     Results of Operations
     
     Overview
     
     This discussion should be read in conjunction with the Consolidated
     Financial Statements including the Notes thereto:
     
     Comparison of the Three Months Ended June 30, 1997 and 1996
     
     Sales for the quarter ended June 30, 1997 decreased to $21.9
     million, a decrease of $635,000, or 2.8%, over the $22.5 million
     reported for the second quarter of 1996.  Pro-Bel product line sales
     increased by over 30% for the period, while Chyron graphic product
     sales showed a decline of approximately 20%.  Domestic sales
     declined due mainly to customers opting to fill their graphic system
     needs with the Company's lower end Chyron products based on the
     recent Federal Communications Commission ("FCC") ruling requiring
     broadcasters to utilize digital advanced television transmission
     beginning in 1998 which should cause large future capital
     expenditures by the broadcast industry.  The decrease in Chyron
     graphic product sales was driven mainly by a decrease in demand for
     the high-end iNFiNiT product line, while sales of the Max, Maxine
     and Codi lines showed increases.  Overall, international sales
     increased.
     
     Gross profit decreased by $1.5 million, or 13.2% to $9.9 million for
     the quarter ended June 30, 1997 from $11.4 million for the second
     quarter of 1996.  Such decrease was attributable to both the
     decrease in sales for the second quarter of 1997 and a change in the
     product mix.  Gross margins as a percentage of sales decreased to
     45.3% in 1997 from 50.6% in 1996 mainly as a result of the change in
     the product mix and the decrease in the volume of Chyron graphics
     sales.  The inclusion of Pro-Bel products, which historically have
     had lower gross margins than Chyron's gross margins, also
     contributed to the decrease in gross margin.
     
     Selling, general and administrative (SG&A) expenses increased by
     $726,000 or 10.7%, to $7.5 million in the second quarter of 1997
     compared to $6.8 million for the second quarter of 1996.  Such
     increase is due mainly to increases in Pro-Bel expenses based on
     increased sales volume.  SG&A expenses for the Chyron product lines
     were relatively unchanged for the second quarter of 1997 as compared
     to the same period in 1996.
     
     Research and development (R&D) expenses increased for the second
     quarter of 1997 over the 1996 second quarter by $746,000, or 62.6%. 
     The increase is due mainly to intensified efforts at Chyron and Pro-
     Bel to address the FCC rulings described above in terms of new
     product development.  These increases are mainly the result of
     increased headcount at both Chyron and Pro-Bel.  Additional
     increases are due to the inclusion of Axis Holdings Incorporated
     ("Axis") which was purchased on March 31, 1997.  R&D includes the
     net amortization of capitalized software which remained consistent
     for both three month periods.
       
     In an effort to position Chyron to meet the domestic television
     markets need for high definition and multichannel standard
     definition digital equipment that comply with the recent FCC rulings
     described above, the Company underwent a repositioning which,
     together with several other items, resulted in non-recurring charges
     in the second quarter totalling $2,407,000.  
     
     Included in this charge was a write-down of inventory related to
     product lines which have been discontinued as a result of a new
     market positioning strategy, severance expense related to a staff
     reduction in the second quarter, the write-off of software
     development projects related to products not within the new
     strategy, the consolidation of certain Chyron offices, the
     settlement of litigation dating back several years and the write-off
     of costs related to a potential acquisition that was abandoned due
     to the new strategy.
     
     The specific components of the non-recurring charge are as follows
     (in  thousands):
     
     Non-cash outlays:
       Write-down of inventory                     $700
       Write-off of software development costs      205
       Litigation settlement                         88
       Total non-cash charges                       993
     
     Cash outlays:
       Severance                                    825
       Write-off of acquisition costs               200
       Litigation settlement                        100
       Other                                        289
         Total                                   $2,407
     
     Cash outlays related to the non-recurring charges total $1.4
     million, of which $436,000 was made by June 30, 1997.
     
     Other expenses, which include interest income and expense and
     foreign currency transaction gains and losses, increased to
     $434,000, or 45.6%, compared to $298,000 for the second quarter of
     1996.  This increase is mainly a result of an increase in
     outstanding debt for the quarter ended June 30, 1997 versus the
     corresponding 1996 period.  Interest rates remained relatively
     consistent for both periods.
     
     The Company incurred a loss before income taxes of $1.9 million
     compared to income of $3.5 million for the same period in the prior
     year.  This loss was attributable mainly to the decrease in sales of
     Chyron graphics products,  the gross margin erosion as a result of
     the product mix, increases in SG&A and the non-recurring charges
     primarily attributable to Chyron's new market positioning strategy. 
     
     The Company recognized an $810,000 tax benefit for the second
     quarter of 1997 compared to an income tax provision of $1.2 for the
     second quarter of 1996.  The tax benefit is primarily attributable
     to the loss of $1.9 million before taxes while the provision was
     based on pre-tax income of $3.5 million.
     
     Comparison of the Six Months Ended June 30, 1997 and 1996
     
     Sales for the six month period ended June 30, 1997 increased to
     $40.1 million, an increase of $3.8 million, or 10.6%, over the $36.3
     million reported for the first half of 1996.  This increase was
     attributable to the inclusion of Pro-Bel since its acquisition on
     April 12, 1996 offset by a decrease in Chyron graphic product sales
     of over 30%.  Chyron graphic product sales increased for the Max,
     Maxine and Codi lines, and decreased for the iNFiNiT product line. 
     
     
     Gross profit decreased to $18.1 million for the six months ended
     June 30, 1997.  The decrease of $1.1 million, or 6.2% over the $19.2
     million reported for the first half of 1996, was attributable to a
     change in the product mix from 1996 to 1997 as is also reflected in
     the decline in gross margin percentages which decreased to 45.1% in
     1997 from 52.9% in 1996.  A shift in Chyron sales from the high end
     iNFiNiT lines to the Max, Maxine and Codi lines, and the overall
     decrease in Chyron graphic product sales contributed to the decrease
     in both gross profit dollars and gross margin percentages.  The
     gross margin percentage decrease was also impacted by the fact that
     1997 amounts include Pro-Bel products, (which historically have
     lower gross margin percentages) for six months versus three in 1996.
     
     SG&A expenses increased by $4.2 million in 1997, or 40.6%, to $14.7
     million compared to $10.5 million for the first half of 1996.  The
     increase for the period is due mainly to the consolidation of Pro-
     Bel and the additional depreciation and goodwill amortization as a
     result of the application of the purchase accounting method on the
     acquired assets. Additional increases were seen for Pro-Bel due to
     an increase overall in sales volume, while Chyron SG&A expenses
     remained relatively flat for the period.  
     
     R&D expenses increased for the first half of 1997 compared to 1996
     by $1.1 million, or 50.0%.  This increase is mainly attributable to
     the inclusion of Pro-Bel expenditures for the full six month period
     in 1997.  Additional increases in R&D have been seen at both Chyron
     and Pro-Bel as the Company has focused its attention on new product
     development to address the FCC ruling described above.  The
     inclusion of Axis since March 31, 1997 has also added to the
     increase in R&D expenditures.  These increases were offset by the
     net amortization of capitalized software cost included in R&D, which
     decreased $248,000 for the six months ended June 30, 1997 versus the
     same period in 1996.
     
     For the six months ended June 30, 1997 non-recurring charges were
     incurred by the Company which totaled $3.1 million.  The bulk of
     these charges ($2.4 million) were incurred during the second quarter
     of 1997 and related to a repositioning by the Company to address the
     anticipated effects of recent FCC rulings as described in the
     Comparison of the Three Months Ended June 30, 1997 and 1996 above.
     Additional non-recurring charges of $675,000 were incurred in the
     first quarter of 1997 and were attributable to the Company's planned
     secondary offering of common stock which was terminated due to the
     market valuation of the stock.
     
     Other expenses, which included interest income and expense and
     foreign currency transaction gains and losses, increased to
     $764,000, or by 81%, from $422,000 for the first half of 1996.  This
     increase is mainly a result of increased borrowings for the six
     months ended 1997 versus 1996.  Increases also stem from the
     purchase of Pro-Bel in 1996 and Axis in 1997.  Interest rates
     remained relatively consistent for both six month periods.
     
     The Company incurred a loss before income taxes of $3.9 million
     compared to income of $6.0 million for the same period in the prior
     year.  This loss was attributable mainly to the decrease in sales of
     Chyron graphics products, the gross margin erosion as a result of
     the product mix, increased SG&A expenses and $3.1 million of non-
     recurring charges as discussed above. 
     
     The Company recognized a $1.3 million tax benefit for the first half
     of 1997 compared to an income tax provision of $2.2 for 1996.  The
     tax benefit was primarily attributable to the loss of $3.9 million
     before taxes while the provision was based on pre-tax income of $6.0
     million.
     
     Liquidity and Capital Resources
     
     On January 1, 1997, Pro-Bel entered into an agreement with Barclays
     Bank PLC to obtain borrowing facilities totaling 3.0 million pounds
     sterling ($5,048,000 converted at the June 30, 1997 exchange rate). 
     The facility is payable on demand and matures December 31, 1997. 
     This facility replaced former bank facilities which expired on
     December 31, 1996.  Upon maturity, the Company intends to replace
     this borrowing facility with a similar one.
     
     On March 28, 1996 and April 16, 1996, the Company entered into
     agreements with a bank to obtain a revolving credit facility of $10
     million and a term loan of $8 million, respectively.  The revolving
     portion of the facility matures 3 years from closing, while the term
     portion matures 4 years from closing.  The entire facility is
     secured by the Company's properties and assets. This facility
     replaced the $10,000,000 secured credit facility which was due to
     expire on April 27, 1997.  In April 1996, a portion of this new
     credit facility was used to fund the acquisition of Pro-Bel. 
     Quarterly payments on the term loan portion of the facility are
     funded by the Company's working capital.
     
     On April 12, 1996, the Company issued promissory notes to the
     shareholders of Pro-Bel for 3.5 million pounds sterling ($5.9
     million converted at the June 30, 1997 exchange rate).  The notes
     are secured by an irrevocable letter of credit from a bank and limit
     amounts available under the revolving credit facility described
     above.  The notes are due on or before April 15, 1998.  At maturity,
     the notes will be repaid with the letter of credit described above.
     
     On March 31, 1997, the Company issued promissory notes to the
     shareholders of Axis for $667,000.  The notes are payable in two
     annual installments beginning March 31, 1998.  These payments will
     be funded by the Company's working capital.
     
     At June 30, 1997, the Company's current ratio was 2.01 to 1 and its
     working capital was $31,017,000.
     
     At June 30, 1997, the Company had operating lease commitments for
     equipment, factory and office space totaling $12,169,000 of which
     $969,000 is payable within one year.
     
     
     PART II. OTHER INFORMATION
     
     
     ITEMS 1., 2., 3. Not applicable
     
     ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
         
     a) On January 24, 1997, at a special meeting of shareholders, the
     Company's shareholders' ratified a one-for-three reverse stock split
     of its common stock which was effective February 10, 1997. 
     77,162,761 shares were voted for the proposal, 2,876,490 shares were
     voted against the proposal and 169,212 shares abstained.
     
     b) On May 14, 1997, the Company held its Annual Meeting of
     Shareholders.  At this meeting, the Company's shareholders re-
     elected Sheldon D. Camhy, James Coppersmith, Charles M. Diker,
     Donald P. Greenberg, Raymond Hartman, Isaac Hersly, Alan J.
     Hirschfield, Wesley W. Lang, Jr., Eugene M. Weber, and Michael
     Wellesley-Wesley to the Board of Directors.  No less than 20,256,462
     shares were voted for the election of each director, no more than
     230,885 shares were voted against the election of each director, and
     0 shares abstained.  Additionally, the shareholders voted to amend
     the Company's Long-Term Incentive Plan, increasing the number of
     shares by 1,333,334 shares to an aggregate of 3,000,000 shares. 
     20,250,283 shares were voted for the proposal, 459,150 shares were
     voted against the proposal, and 85,322 shares abstained.
     
     ITEM 5. Not applicable.
     
     
     ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
     
     a) Exhibits
     
     (1)  On June 5, 1997, the Company entered into an Employment
     Agreement with Edward Grebow.  Such agreement is attached as Exhibit
     1 to this document.
     
     
     SIGNATURES
     
     
     Pursuant to the requirements of the Securities Exchange Act of 1934,
     the Registrant has duly caused this report to be signed on its
     behalf by the undersigned thereunto duly authorized.
     
     
     CHYRON CORPORATION      
     (Registrant)
     
     
     
     
     August 11, 1997            /s/    Edward Grebow        
        (Date)                         Edward Grebow     
                                   Chief Executive Officer        
                                       and President
                                 
     
     
     
     August 11, 1997            /s/   Patricia Lampe        
        (Date)                        Patricia Lampe  
                                  Chief Financial Officer 
                                       and Treasurer