SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q/A

                 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                For the Quarterly Period Ended November 30, 1998

              [ ] 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 1-9244


                          KING WORLD PRODUCTIONS, INC.
             (Exact name of registrant as specified in its charter)


            Delaware                                   13-2565808             
(State or other jurisdiction of         (I.R.S. Employer Identification No.)
 incorporation or organization)


     12400 Wilshire Boulevard
     Suite 1200
     Los Angeles, California                                  90025  
(Address of principal executive offices)                    (Zip Code)



Registrant's telephone number, including area code: 310-826-1108

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       


Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date. Common Stock, $.01 par value,
71,505,931 shares outstanding as of January 4, 1999.


<PAGE>





                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                                     ASSETS
                             (Dollars in thousands)




                                                  November 30,      August 31,
                                                     1998              1998   
                                                     ----              ----   
                                                  (Unaudited)
CURRENT ASSETS:
    Cash and cash equivalents (Note 2)........    $  558,729       $  188,778
    Short-term investments  ..................        23,801           88,016
    Accounts receivable (net of allowance
        for doubtful accounts of $3,301 at
        November 30, 1998 and August 31,
        1998, respectively)...................        91,894           75,423
    Producer advances and deferred costs......       113,827           99,965
    Other current assets......................           722            1,146
                                                  ----------        ---------
             Total current assets.............       788,973          453,328
                                                  ----------        ---------
                                                               
LONG-TERM INVESTMENTS, at cost,                          
        which approximates market value.......       105,048          470,715
                                                  ----------         --------
                                                                
FIXED ASSETS, at cost.........................        33,380           31,353
  Less - accumulated depreciation                               
    and amortization..........................       (14,306)         (13,613)
                                                   ---------        ---------
                                                      19,074           17,740
                                                   ---------        ---------

PRODUCER ADVANCES AND OTHER ASSETS (Note 2)...       109,227           81,815
                                                  ----------        ---------

                                                  $1,022,322       $1,023,598
                                                  ==========       ==========




                     The accompanying Notes to Consolidated
                      Financial Statements are an integral
                          part of these balance sheets.


                                        2

<PAGE>



                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                     CONSOLIDATED BALANCE SHEETS (continued)

                      LIABILITIES AND STOCKHOLDERS' EQUITY
                             (Dollars in thousands)




                                                  November 30,    August 31,
                                                      1998           1998  
                                                      ----           ----   
                                                  (Unaudited)

CURRENT LIABILITIES:
    Accounts payable and
        accrued liabilities..................... $   13,765    $   15,913
    Payable to producers and others.............     55,169        96,118
    Income taxes payable........................     50,354        30,356
                                                 ----------    ----------
                Total current liabilities.......    119,288       142,387
                                                 ----------    ----------


STOCKHOLDERS' EQUITY:
    Preferred stock, $.01 par value;
        5,000,000 shares authorized,
        none issued.............................         --            --
    Common stock, $.01 par value;
        150,000,000 shares authorized,
        88,850,325 shares and
        88,650,301 shares issued
        at November 30, 1998 and August 31,
        1998, respectively......................        889           887
    Paid-in capital.............................    142,802       138,219
    Retained earnings...........................  1,179,003     1,137,238
    Treasury stock, at cost; 17,282,194 and
        16,284,794 shares at November 30, 1998
      and August 31, 1998, respectively.........   (419,660)     (395,133)
                                                 ----------    ----------
                                                    903,034       881,211
                                                 ----------    ----------

                                                 $1,022,322    $1,023,598
                                                 ==========    ==========




                     The accompanying Notes to Consolidated
                      Financial Statements are an integral
                          part of these balance sheets.


                                        3

<PAGE>



                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                        CONSOLIDATED STATEMENTS OF INCOME

                                   (Unaudited)


                                              Three Months Ended
                                                  November 30     
                                              ------------------
                                              1998          1997  
                                              ----          ----  
                                           (Dollars in thousands
                                            except per share data)

REVENUES.............................  $194,267            $172,926
                                       --------            --------

EXPENSES:
  Producers' fees, programming and
    other direct operating costs.....   118,533             107,235
  Selling, general and
    administrative expenses..........    23,689              20,041
                                       --------            --------
                                        142,222             127,276
                                       --------            --------

    Income from operations...........    52,045              45,650

INVESTMENT INCOME....................    12,448               6,894
                                       --------            --------

    Income before provision
      for income taxes...............    64,493              52,544

PROVISION FOR INCOME TAXES...........    22,728              18,175
                                       --------            --------

    Net income.......................  $ 41,765            $ 34,369
                                       ========            ========


BASIC EARNINGS PER SHARE.............  $    .58            $    .47
                                       ========            ========

DILUTED EARNINGS PER SHARE...........  $    .56            $    .45
                                       ========            ========






                     The accompanying Notes to Consolidated
                      Financial Statements are an integral
                          part of these balance sheets.


                                        4

<PAGE>



                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)


                                                      Three Months Ended
                                                          November 30,     
                                                      ------------------
                                                       1998        1997   
                                                       ----        ----   
                                                    (Dollars in thousands)

CASH FLOWS FROM OPERATING ACTIVITIES:
      Net income.............................      $ 41,765       $ 34,369
         Items not affecting cash:
        Depreciation and amortization........           693            415
     Change in assets and liabilities:
        Accounts receivable..................       (16,471)        (5,176)
        Producer advances and
          deferred costs.....................       (38,278)      (105,935)
        Accounts payable and accrued
          liabilities........................        (2,148)        (2,524)
        Payable to producers and others......       (40,949)       (16,785)
        Income taxes payable.................        19,998         12,981
        Other, net...........................        (2,572)        (1,918)
                                                   --------       --------
   Net cash used in operating
         activities..........................       (37,962)       (84,573)
                                                   --------       --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Sales (purchases) of investments..........       429,882        (43,152)
   Additions to fixed assets.................        (2,027)        (2,241)
                                                    -------       --------
      Net cash provided by (used in)
        investing activities.................       427,855        (45,393)
                                                   --------       --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Proceeds from issuance of common stock....         4,585          4,342
   Purchase of treasury stock................       (24,527)            -- 
                                                   --------       --------
   Net cash (used in) provided by
     financing activities....................       (19,942)         4,342
                                                   --------       --------

NET INCREASE (DECREASE) IN CASH AND
      CASH EQUIVALENTS.......................       369,951       (125,624)

CASH AND CASH EQUIVALENTS AT BEGINNING
      OF PERIOD..............................       188,778        317,782
                                                   --------       --------
CASH AND CASH EQUIVALENTS AT END
      OF PERIOD..............................      $558,729       $192,158
                                                   ========       ========




                     The accompanying Notes to Consolidated
                           Financial Statements are an
                       integral part of these statements.



                                        5

<PAGE>


                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (Unaudited)

(1)  Summary of significant accounting policies

Principles of consolidation
---------------------------

          The accompanying consolidated financial statements include the
accounts of King World Productions, Inc. ("King World") and its wholly-owned
subsidiaries. All significant intercompany transactions have been eliminated.
Unless the context suggests otherwise, the "Company", as used herein, means King
World and its subsidiaries. All share and per share data presented in these
consolidated financial statements have been adjusted to give effect to a
two-for-one stock split, effected in the form of a 100% stock dividend, which
was paid by the Company on February 17, 1998.

          The unaudited consolidated financial statements for the three months
ended November 30, 1998 have been prepared in accordance with the instructions
to Form 10-Q and include, in the opinion of management, all adjustments
(consisting only of normal recurring accruals) necessary for a fair presentation
of the results of operations for such period. They do not, however, include all
of the information and disclosures required by generally accepted accounting
principles for complete financial statements. For further information, reference
is made to the consolidated financial statements for the fiscal year ended
August 31, 1998 and the footnotes related thereto included in the Company's
Annual Report on Form 10-K from which the August 31, 1998 balances presented
herein have been derived. The results of operations for the three months ended
November 30, 1998 are not necessarily indicative of the results of operations
for the full year.

Revenue recognition
-------------------

          License fees from first-run syndicated television properties are
recognized at the commencement of the license period pursuant to noncancelable
agreements and as each show is made available to the licensee via satellite
transmission. Because transmission to the satellite takes place, on the average,
no more than two to three days prior to the broadcast of the programming,
revenues are recognized on or about the air date.

          The Company typically receives a portion of the fees derived from the
licensing of syndicated television programming in the form of retained
advertising time, which is sold to advertisers by King World Media Sales Inc., a




                                        6

<PAGE>


                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (Unaudited)

(1)  Summary of significant accounting policies (continued)

wholly-owned subsidiary of the Company. Such revenues are recognized at the same
time as the cash portion of the license fees derived from such programming is
recognized, in amounts adjusted for expected ratings.

          License fees for non-first-run syndicated properties are recognized at
the gross contract amount (net of discount to present value for license periods
greater than one year) at the commencement of the license period and when
certain other conditions are satisfied.

Principal properties
--------------------

          The Company's principal properties are licenses to distribute The
OPRAH WINFREY SHOW, WHEEL OF FORTUNE and JEOPARDY!. The Company co-produces and
distributes Hollywood Squares, a first-run syndicated game show, and THE
ROSEANNE SHOW, a first-run syndicated talk show. The Company also produces and
distributes INSIDE EDITION, a first-run syndicated newsmagazine.

          The contribution of each program to the Company's total revenues was
as follows:

                                                Three Months
                                                    Ended
                                                 November 30,   
                                                ---------------
                                                1998       1997  
                                                ----       ----  

THE OPRAH WINFREY SHOW                          38%         43%
WHEEL OF FORTUNE                                18%         21%
JEOPARDY!                                       16%         17%
HOLLYWOOD SQUARES(1)                            10%          --
THE ROSEANNE SHOW(1)                             7%          --
INSIDE EDITION                                   6%          7%

(1) HOLLYWOOD SQUARES and THE ROSEANNE SHOW premiered in September 1998.



                                        7

<PAGE>


                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (Unaudited)

(1)  Summary of significant accounting policies (continued)

          The Company distributes THE OPRAH WINFREY SHOW pursuant to an
agreement with Harpo, Inc., the producer of the series ("Harpo"). Under the
terms of the Company's agreement in effect through August 1998 with Harpo, King
World was engaged as the exclusive distributor of THE OPRAH WINFREY SHOW through
the 1999-2000 broadcast season. Such agreement was amended in September 1998 to
provide for Harpo and Ms. Winfrey to produce and host the show for the 2000-2001
and 2001-2002 broadcast seasons and to extend the engagement of King World as
the exclusive distributor of the show for those seasons.

          The Company's agreements with Columbia TriStar Television provide that
King World will be the exclusive distributor for WHEEL OF FORTUNE and JEOPARDY!
so long as the Company has obtained sufficient broadcast commitments to cover
such series' respective production and distribution costs and that the Company
may not, unless otherwise agreed by Columbia TriStar Television, distribute
other game shows for strip first-run syndication so long as the Company is
distributing WHEEL OF FORTUNE or JEOPARDY!.

          In September 1997, the Company and Columbia TriStar Television
announced their agreement to co-produce a new version of the game show Hollywood
Squares, which is distributed by the Company in strip first-run syndication and
premiered in September 1998.

          The Company has entered into an agreement with Full Moon & High Tide
Productions, Inc., a company controlled by Roseanne, to co-produce THE ROSEANNE
SHOW, an hour-long strip talk show hosted by Roseanne and distributed by the
Company in first-run syndication. The series premiered in September 1998. Under
the terms of the agreement, the Company will have the exclusive right to
distribute the show through the 2003-2004 broadcast season.

Producers' fees, programming and other direct operating costs
-------------------------------------------------------------

          Producers' fees, programming and other direct operating costs
primarily include the producers' share of both cash license fees from the sale
of programming to television stations and revenues derived from the sale of
retained advertising time to advertisers with respect to programming distributed



                                        8

<PAGE>


                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (Unaudited)

(1)  Summary of significant accounting policies (continued)

by the Company; participation fees payable by the Company to producers and
talent; production and distribution costs for first-run syndicated programming;
and the direct operating costs of King World Direct, the Company's wholly owned
direct response marketing subsidiary. That portion of any recognized revenue
that is to be paid to producers and owners of programming is accrued as such
revenues are earned. The share of revenues payable by the Company to such
producers and others is generally paid as cash license fees and revenues derived
from the sale of retained advertising time are received from television stations
and advertisers.

Stockholders' equity
--------------------

          Basic earnings per share has been computed using the weighted average
shares of Common Stock outstanding of 71,609,000 and 73,366,000 for the three
months ended November 30, 1998 and 1997, respectively. Diluted earnings per
share, which includes the dilutive effect of the assumed exercise of vested and
unvested stock options outstanding as of the end of each period reported, has
been computed using the weighted average shares of Common Stock outstanding of
74,518,000 and 75,826,000 for the three months ended November 30, 1998 and 1997,
respectively.

          In January 1998 the Company's Board of Directors declared a
two-for-one stock split, effected in the form of a 100% stock dividend, which
was paid on February 17, 1998 to stockholders of record on February 3, 1998. In
connection with the stock split, the Company increased the number of authorized
shares of Common Stock from 75 million to 150 million, which increase was
approved by the stockholders of the Company in January 1998. The par value of
the additional 36,738,470 shares of Common Stock issued in connection with the
stock split was credited to common stock and a like amount charged to paid-in
capital. All share and per share data presented in these consolidated financial
statements have been adjusted for all periods presented to reflect the stock
split.

Comprehensive income
--------------------

          In the first quarter of fiscal 1999 the Company adopted Statement of
Financial Accounting Standards No. 130 ("SFAS 130"), Reporting Comprehensive 



                                        9

<PAGE>


                  KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                   (Unaudited)

(1)  Summary of significant accounting policies (continued)

Income. SFAS 130 establishes new rules for the reporting and presentation of
comprehensive income and its components. Comprehensive income is defined as the
change in equity of a business enterprise during a period from transactions and
other events and circumstances from nonowner sources. The components of
comprehensive income include, but are not limited to, foreign currency
translation adjustments and unrealized gains and losses on certain investment
securities. The Company has no material items required to be reported in the
presentation of comprehensive income.

(2)  Producer advances

          In September 1997, the Company made advances to Harpo in the aggregate
amount of $130 million against Harpo's guaranteed share of gross revenues for
the 1998-1999 and 1999-2000 broadcast seasons. As of November 30, 1998,
approximately $36.4 million of the $65 million advance associated with the
1998-1999 broadcast season remained unrecouped. None of the $65 million advance
related to the 1999-2000 broadcast season was recouped as of November 30, 1998.
As part of the most recent amendment to its agreement with Harpo, the Company
agreed to pay, within 30 days of contract signing, an advance to Harpo of $75
million against Harpo's guaranteed share of gross revenues for the 2000-2001
broadcast season. As of November 30, 1998, such advance had not yet (with the
acquiescence of Harpo) been paid. However, given the Company's continuing
unconditional obligation to pay such advance, this amount was reclassified from
cash and cash equivalents to producer advances and other assets in the
accompanying consolidated balance sheets. Also, the Company agreed to pay, in
June 2000, an additional $75 million against Harpo's guaranteed share of gross
revenues for the 2001-2002 broadcast season. Based on the license agreements in
place for such broadcast seasons, the Company believes that revenues from the
series will be sufficient to enable the Company to recoup such advances for such
seasons. All of the advances paid to Harpo are refundable to the Company by
Harpo and Ms. Winfrey if King World terminates its agreement with Harpo due to
Harpo's failure to deliver episodes of THE OPRAH WINFREY SHOW.





                                       10

<PAGE>



Item 2.  Management's Discussion and Analysis of
         Results of Operations and Financial Condition
         ---------------------------------------------

          The discussion herein contains certain forward-looking statements
covering the Company's objectives, planned or expected activities and
anticipated financial performance. These forward-looking statements may
generally be identified by words such as "expects", "anticipates", "believes",
"plans", "should", "will" "may", "projects" (or variants of these words or
phrases), or similar language indicating the expression of an opinion or view
concerning the future with respect to the Company's financial position, results
of operations, prospects or business. The Company's actual results may differ
significantly from the results described in or suggested by such forward-looking
statements.

RESULTS OF OPERATIONS

Comparison of Three Months Ended November 30, 1998 and 1997

Revenues
--------

          Revenues for the three months ended November 30, 1998 increased by
approximately 12% over revenues for the first three months of the prior fiscal
year, primarily due to the introduction of HOLLYWOOD SQUARES, a first-run
syndicated game show co-produced and distributed by the Company, and of THE
ROSEANNE SHOW, a first-run syndicated talk show co-produced and distributed by
the Company, each of which premiered in September 1998. The additional revenues
generated by such programs were partially offset by the discontinuation of
AMERICAN JOURNAL (which was cancelled following the 1997-1998 broadcast season)
and, to a lesser extent, lower revenues from Inside Edition, a first-run
syndicated newsmagazine produced and distributed by the Company.



                                       11

<PAGE>



          The principal components of the Company's revenues are as follows:

                                           Three Months
                                               Ended
                                            November 30,
                                         -----------------
                                         1998         1997
                                         ----         ----
THE OPRAH WINFREY SHOW                    38%           43%
WHEEL OF FORTUNE                          18%           21%
JEOPARDY!                                 16%           17%
HOLLYWOOD SQUARES(1)                      10%            --
THE ROSEANNE SHOW (1)                      7%            --
INSIDE EDITION                             6%            7%
AMERICAN JOURNAL (2)                       --            4%

(1) HOLLYWOOD SQUARES and THE ROSEANNE SHOW premiered in September 1998.

(2) The production of AMERICAN JOURNAL was discontinued after the 1997-1998
broadcast season.


Producers' fees, programming and other direct operating costs
-------------------------------------------------------------

          Producers' fees, programming and other direct operating costs
increased by approximately 11% in the first three months of fiscal 1999 compared
with the first three months of fiscal 1998 primarily as a result of the
production and participation costs associated with HOLLYWOOD SQUARES and THE
ROSEANNE SHOW, partially offset by a decrease in production costs due to the
discontinuation of AMERICAN JOURNAL.


Selling, general and administrative expenses.
---------------------------------------------

          The Company has entered into employment agreements with its Chairman
of the Board, its Vice Chairman and Chief Executive Officer and certain other
executive officers. Such agreements provide, among other things, for
performance-based bonuses, including bonuses payable upon the introduction of
new shows and bonuses which vary depending on the Company's net income and
Common Stock price during pre-established measurement periods. As a result, the
Company's compensation expense will increase if the Company introduces a new
series in syndication, if the Company's net income increases or if the Company's
Common Stock price exceeds the specified levels during the applicable
measurement periods. The Company has recognized the impact of certain of these
bonuses in its operating results for the first quarter of fiscal 1999, which
include all amounts payable in accordance with the terms of such employment
agreements.
<PAGE>

          Selling, general and administrative expenses for the first quarter of
fiscal 1999 increased by approximately 18% from the comparable period of fiscal
1998 as a result of advertising and promotion costs incurred in connection with
the introduction of HOLLYWOOD SQUARES and THE ROSEANNE SHOW, and certain
performance-based bonuses incurred in connection with the launch of these shows
as described above. Such increase was partially offset by lower marketing costs
for AMERICAN JOURNAL.

NET INCOME AND EARNINGS PER SHARE
---------------------------------

          Due to the factors discussed above, the Company's operating income for
the three months ended November 30, 1998 increased by approximately 14% compared
to the corresponding period of the prior year. Net income increased by
approximately $7.4 million, or 22%, for the three months ended November 30, 1998
in comparison to the three months ended November 30, 1997, reflecting the
increase in operating income and the realization of nonrecurring capital gains
on the sale of various investment securities, partially offset by a slightly
higher effective tax rate for the first three months of fiscal 1999 as compared
to the same period of fiscal 1998. Basic earnings per share increased by 23%
from $.47 per share in the first three months of fiscal 1998 to $.58 per share
in the first three months of the current fiscal year as a result of the increase
in net income and a decrease in the number of shares outstanding resulting from
the Company's ongoing stock repurchase program. Diluted earnings per share
increased by 24% from $.45 per share in the first three months of the prior year
to $.56 in the first three months of fiscal 1999 due to the same factors that
resulted in the increase in basic earnings per share. Absent the nonrecurring
capital gains, basic and diluted earnings per share would have been $.55 and
$.53, respectively, in the first three months of fiscal 1999.

          Due to the success of the shows distributed by the Company and in
order to mitigate the influence of some of the factors referred to above, the
Company has been obtaining multi-year licenses and license renewals from
television stations for its principal distribution properties, extending as far
into the future as the 2004-2005 broadcast season. In general, these licenses
and renewals have been at rates as favorable or more favorable to the Company
than the rates applicable to the 1998-1999 broadcast season. All such licenses
and renewals are contingent upon the continued production of the series by their
respective producers through the broadcast seasons for which the licenses run.



                                       12

<PAGE>




          The Company believes that the state of readiness with regard to the
year 2000 compliance of its various information systems is adequate. Also, the
Company is communicating with its significant customers and vendors to
understand their year 2000 issues and, to date, no significant customers or
vendors have informed the Company that a material year 2000 issue, that will
affect the Company, exists.

          The Company believes that the impact of inflation on its operations
has not been significant.

LIQUIDITY AND CAPITAL RESOURCES

          The Company requires capital resources to fund development,
production and promotion costs of independently produced programming, including,
in some instances, advances to producers and talent, to produce its own programs
and to acquire distribution rights to new programming. In acquiring
distribution rights from independent producers, King World has tried to avoid
making significant capital commitments to such producers until it has obtained
broadcast commitments from a substantial number of television stations. As a
result of this strategy and the success of its existing syndication properties,
to date, King World has funded substantially all programming acquisition,
development, production and promotion costs and advances from its operations.

          The distribution of television programming is highly competitive and
the Company may be obliged to offer, among other things, guarantees and cash
advances to acquire, renew or extend distribution rights. Under the terms of the
Company's agreement in effect through August 1998 with Harpo, Inc. ("Harpo"),
the producer of THE OPRAH WINFREY SHOW, the Company was engaged as the exclusive
distributor of THE OPRAH WINFREY SHOW through the 1999-2000 broadcast season.
Such agreement was amended in September 1998 to provide for Harpo and Ms.
Winfrey to produce and host the show for the 2000-2001 and 2001-2002 broadcast
seasons and to extend the engagement of King World as the exclusive distributor
of the show for those seasons.

          Under the amended agreement, King World will continue to receive
distribution fees based on a percentage of the gross revenues generated by the
show. Such distribution fees are significantly less than those applicable to
seasons through the 1999-2000 broadcast season, and, as a result, the
contribution of THE OPRAH WINFREY SHOW to King World's net profits and cash flow
will decline.

          In September 1997, the Company made advances to Harpo in the aggregate
amount of $130 million against Harpo's guaranteed share of gross revenues for 



                                       13

<PAGE>



the 1998-1999 and 1999-2000 broadcast seasons. As of November 30, 1998, $36.4
million associated with the 1998-1999 broadcast season remained unrecouped. None
of the $65 million related to the 1999-2000 broadcast season was recouped as of
November 30, 1998. As part of the most recent amendment to its agreement with
Harpo, the Company agreed to pay, within 30 days of contract signing, an advance
to Harpo of $75 million against Harpo's guaranteed share of gross revenues for
the 2000-2001 broadcast season. As of November 30, 1998, such advance had not
yet (with the acquiescence of Harpo) been paid. However, given the Company's
continuing unconditional obligation to pay such advance, this amount was
reclassified from cash and cash equivalents to producer advances and other
assets in the accompanying consolidated balance sheets. Also, the Company agreed
to pay, in June 2000, an additional $75 million against Harpo's guaranteed share
of gross revenues for the 2001-2002 broadcast season. Based on the license
agreements in place for such broadcast seasons, the Company believes that
revenues from the series will be sufficient to enable the Company to recoup the
advances for such seasons. All of the advances paid to Harpo are refundable to
the Company by Harpo and Ms. Winfrey if King World terminates its agreement with
Harpo due to Harpo's failure to deliver episodes of The Oprah Winfrey Show.

          The Company has used its cash reserves to make acquisitions of and
investments in broadcast and related properties in the entertainment field, to
repurchase shares of its Common Stock and to fund the cost of development,
production and promotion of new programming. The Company continues to evaluate
opportunities in these areas, and may seek to raise capital in public or private
securities markets to finance such activities if it considers it advantageous to
do so.

          In April 1997, the Company announced that the Board of Directors had
approved a program to repurchase up to 10,000,000 shares of its Common Stock
from time to time in the open market and in privately negotiated transactions.
Through January 4, 1999, 4,990,300 shares of Common Stock had been repurchased
for aggregate consideration of approximately $115.5 million or approximately
$23.14 per share (such amounts have been adjusted to reflect the two-for-one
stock split). The Company intends to continue to repurchase shares of its Common
Stock in the open market and in privately negotiated transactions if and when it
deems it advantageous to do so. Purchases under the share repurchase program
have been and will continue to be financed out of the Company's available cash
and liquid investments.

          In January 1998 the Company's Board of Directors declared a
two-for-one stock split, effected in the form of a 100% stock dividend, which
was paid on February 17, 1998 to stockholders of record on February 3, 1998. In




                                       14

<PAGE>



connection with the stock split, the Company increased the number of authorized
shares of Common Stock from 75 million to 150 million, which increase was
approved by the stockholders of the Company in January 1998. The par value of
the additional 36,738,470 shares of Common Stock issued in connection with the
stock split was credited to Common Stock and a like amount charged to paid-in
capital. All share and per share data presented in these consolidated financial
statements have been adjusted for all periods presented to reflect the stock
split.


PART II - OTHER INFORMATION


Item 5.  Other Information
         -----------------


         None.


Item 6.  Exhibits and Reports on Form 8-K
         --------------------------------

(a)      Exhibits:
         --------

         27.1 - Financial Data Schedule

(b)      Reports on Form 8-K
         -------------------

          On September 29, 1998, the Company filed a current report on Form 8-K
announcing the renewal of THE OPRAH WINFREY SHOW for the 2000-2001 and 2001-2002
broadcast seasons.



                                       15

<PAGE>


                                   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.


                                      KING WORLD PRODUCTIONS, INC.



                                      By:    /s/ Steven A. LoCascio             
                                             ----------------------
                                             Steven A. LoCascio
                                             Senior Vice President and
                                             Chief Financial Officer
                                             and on behalf of the Registrant

January 7, 1999