<PAGE 1>

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 

FORM 10-Q 

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

               For the Quarterly Period Ended May 31, 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, 73,175,007 shares outstanding as of July 8, 1998.
<PAGE><PAGE 2>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES 

CONSOLIDATED BALANCE SHEETS 

ASSETS
(Dollars in thousands)


        May 31,     August 31,
         1998           1997   
     ___________     __________
     (Unaudited)
CURRENT ASSETS:
     Cash and cash equivalents          $224,752     $317,782
     Short-term investments                 77,476     234,677
     Accounts receivable (net of allowance
          for doubtful accounts of $3,301 and
          $4,101 at May 31, 1998 and August 31,
          1997, respectively)          81,780     75,092
     Producer advances and deferred costs          85,698     74,652
     Other current assets             1,482        1,857
                                                      ________     ________
               Total current assets           471,188      704,060
                                                  ________     ________

LONG-TERM INVESTMENTS, at cost,
          which approximates market value           422,560      177,590
                                                  ________     ________

FIXED ASSETS, at cost          29,349     21,455
  Less - accumulated depreciation
    and amortization           (13,070)      (11,706)
                                                  ________     ________
         16,279        9,749
                                                  ________     ________

PRODUCER ADVANCES AND OTHER ASSETS            83,342       10,668
                                                  ________     ________

                         $993,369     $902,067
                         ========     ========




The accompanying Notes to Consolidated Financial Statements
are an integral part of these balance sheets.
<PAGE><PAGE 3>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (continued) 

LIABILITIES AND STOCKHOLDERS' EQUITY 
(Dollars in thousands)



        May 31,     August 31,
         1998            1997   
     ____________     __________
     (Unaudited)
CURRENT LIABILITIES:
     Accounts payable and
          accrued liabilities          $   16,680     $   18,014
     Payable to producers and others          78,823     69,599
     Income taxes payable              28,377         30,372
                                                     __________     __________
                  Total current liabilities             123,880        117,985
                                                    __________     __________


STOCKHOLDERS' EQUITY:
     Preferred stock, $.01 par value;
          5,000,000 shares authorized,
          none issued            --     --
     Common stock, $.01 par value;
          150,000,000 shares authorized,
          88,093,701 shares and
          87,664,828 shares issued
          at May 31, 1998 and August 31,
          1997, respectively          881     877
     Paid-in capital          133,195     124,130
     Retained earnings          1,103,339     1,001,190
     Treasury stock, at cost; 15,250,494 and
          14,413,594 shares at May 31, 1998 and
       August 31, 1997, respectively            (367,926)       (342,115)
                                                     __________     __________
        869,489        784,082
                                             __________     __________

     $  993,369     $  902,067
                                                    ==========     ==========



The accompanying Notes to Consolidated Financial Statements
are an integral part of these balance sheets.
<PAGE><PAGE 4>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF INCOME
(Unaudited) 



                                 Three Months Ended     Nine Months Ended 
                                       May 31,               May 31,      
                                                                          

                                  1998        1997       1998       1997  
                                                                          

                               (Dollars in thousands except per share data)

REVENUES.......................      $167,968     $166,751     $514,810     
$506,207
                              ________     ________     ________     ________

EXPENSES:
  Producers' fees, programming
    and other direct
    operating costs............      106,510     97,745     324,439     
300,315
  Selling, general and
    administrative expenses....       18,564       22,385       57,720       
62,078
                              ________     ________     ________     ________
                               125,074      120,130      382,159      362,393
                              ________     ________     ________     ________

    Income from operations.....      42,894     46,621     132,651     143,814

INTEREST AND
  DIVIDEND INCOME..............           7,620         8,269         
21,692       22,184
                              ________     ________     ________     ________

    Income before provision
      for income taxes.........     50,514     54,890     154,343     165,998

PROVISION FOR INCOME TAXES.....       16,312       19,185       52,194       
58,649
                              ________     ________     ________     ________


    Net income.................     $ 34,202     $ 35,705     $102,149     
$107,349
                              ========     ========     ========     ========


BASIC EARNINGS PER SHARE.......     $    .47     $    .48     $   1.40     $   
1.44
                              ========     ========     ========     ========

DILUTED EARNINGS PER SHARE.....     $    .45     $    .48     $   1.34     $   
1.43
                              ========     ========     ========     ========





The accompanying Notes to Consolidated Financial Statements
are an integral part of these statements.
<PAGE><PAGE 5>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited) 


                                                     Nine Months Ended
                                                          May 31,       
                                                  ______________________

                                                     1998        1997   
                                                  _________    _________

                                                  (Dollars in thousands)

   
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income          $102,149     $107,349
          Items not affecting cash:
        Depreciation and amortization               1,364     1,247
     Change in assets and liabilities:
        Accounts receivable          (6,688)     (5,922)
        Producer advances and
          deferred costs          (81,296)     55,143
        Accounts payable and accrued 
          liabilities          (1,334)          2,224
        Payable to producers and others          9,224     (6,647)
        Income taxes payable          (1,995)     (1,939)
        Other, net            (2,049)         (50)
                                                           ________     ______
   Net cash provided by operating
activities            19,375      151,405
                                                           ________     
________

CASH FLOWS FROM INVESTING ACTIVITIES:
   Increase in investments          (87,769)     (119,002)
   Additions to fixed assets               (7,894)       (7,584)
                                                    ________     ________
     Net cash used in investing
       activities           (95,663)   (126,586)
                                                           ________     
________

CASH FLOWS FROM FINANCING ACTIVITIES:
   Proceeds from issuance of common stock               9,069     6,138
   Purchase of treasury stock          (25,811)      (24,739)
     Payment of special dividend                --      (74,843)
                                                           ________     
_______
   Net cash provided by
     financing activities           (16,742)      (93,444)
                                                           ________     
________

NET DECREASE IN CASH AND
     CASH EQUIVALENTS          (93,030)     (68,625)
CASH AND CASH EQUIVALENTS AT BEGINNING
     OF PERIOD           317,782      344,766
                                                           ________     
________
CASH AND CASH EQUIVALENTS AT END
     OF PERIOD          $224,752     $276,141
                                                           ========     
========




The accompanying Notes to Consolidated Financial Statements
are an integral part of these statements.
<PAGE><PAGE 6>
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 nine months 
and three months ended May 31, 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 periods.  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, 1997 and the footnotes related thereto 
included in the Company's Annual Report on Form 10-K from which the August 31, 
1997 balances presented herein have been derived.  The results of operations 
for the nine months and three months ended May 31, 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 wholly-owned
<PAGE><PAGE 7>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)


(1)  Summary of significant accounting policies (continued)


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!; and INSIDE EDITION, a 
first-run syndicated series produced and distributed by the Company.  THE 
OPRAH WINFREY SHOW accounted for approximately 42% and 40% of revenues for the 
nine months ended May 31, 1998 and 1997, respectively;  WHEEL OF FORTUNE 
accounted for approximately 21% and 20% of revenues for each of such periods, 
respectively; JEOPARDY! accounted for approximately 18% and 17% of revenues 
for each of such periods, respectively; and INSIDE EDITION accounted for 
approximately 7% and 8% of revenues for each of such periods, respectively.

          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 with Harpo, the Company has the exclusive 
right, and has agreed, to distribute episodes of THE OPRAH WINFREY SHOW 
produced through the 1999-2000 broadcast season.  Pursuant to such agreement, 
Harpo and Ms. Winfrey have also committed to produce and host the show through 
the 1999-2000 broadcast season.  Even if Harpo elects to continue to produce 
THE OPRAH WINFREY SHOW after the 1999-2000 broadcast season, it will not be 
obligated to distribute the series through the Company.

          The Company's agreements with Columbia TriStar Television, the 
producer of WHEEL OF FORTUNE and JEOPARDY!, provide that King World will be 
the exclusive distributor for each such series so long as the Company has 
obtained sufficient 
<PAGE><PAGE 8>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)


(1)  Summary of significant accounting policies (continued)

broadcast commitments to cover the production and distribution costs of that 
series and that the Company may not, unless otherwise agreed by Columbia 
TriStar Television, distribute other game shows for first-run strip 
syndication so long as the Company is distributing WHEEL OF FORTUNE or 
JEOPARDY!.

          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 is scheduled to premiere 
on September 14, 1998.  Under the terms of the agreement, the Company will 
have the exclusive right to distribute the show through the 2003-2004 
broadcast season.  As of July 8, 1998, the series had been licensed for the 
1998-1999 and 1999-2000 broadcast seasons to television stations covering 90% 
of the total domestic television viewing households.

          The Company has also entered into an agreement with Columbia TriStar 
Television to co-produce a new strip version of the game show HOLLYWOOD 
SQUARES for distribution by the Company in first-run syndication.  This series 
is also scheduled to premiere on September 14, 1998.  As of July 8, 1998, the 
series had been licensed for the 1998-1999, 1999-2000 and 2000-2001 broadcast 
seasons to television stations covering 80% of the total domestic television 
viewing households.

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 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 direct response marketing subsidiary.  That portion of any 
recognized revenue that is to be paid to producers and owners of programming 
is accrued as the license fees are earned.  The share of revenues payable by 
the Company to such 
<PAGE><PAGE 9>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)


(1)  Summary of significant accounting policies (continued)


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
____________________

          In the first quarter of fiscal 1998, the Company adopted Statement 
of Financial Accounting Standards No. 128, "Earnings per Share" ("SFAS 128").  
SFAS 128 requires the presentation of "basic" earnings per share, which 
excludes any common stock equivalents and their related dilution, and 
"diluted" earnings per share, which includes the potential dilution from all 
common stock equivalents including options, warrants and convertible 
securities.  Basic earnings per share has been computed using the weighted 
average number of shares of Common Stock outstanding of 72,921,000 and 
74,228,000 for the three months ended May 31, 1998 and 1997, respectively, and 
73,193,000 and 74,569,000 for the nine months ended May 31, 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 
number of shares of Common Stock outstanding of 76,512,000 and 74,906,000 for 
the three months ended May 31, 1998 and 1997, respectively, and 76,458,000 and 
75,320,000 for the nine months ended May 31, 1998 and 1997, respectively.  
Reported earnings per share in prior periods has been restated to conform with 
the provisions of SFAS 128.

           On January 19, 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 on January 19, 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.
<PAGE><PAGE 10>
KING WORLD PRODUCTIONS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)


(2)Producer advances

          On January 2, 1996, the Company paid an advance of $65 million to 
Harpo against Harpo's minimum participation payments for the 1997-1998 
broadcast season which was fully recouped as of May 31, 1998.  In addition, in 
September 1997, the Company made advances to Harpo in the aggregate amount of 
$130 million against Harpo's minimum participation payments for the 1998-1999 
and 1999-2000 broadcast seasons, none of which had been recouped as of May 31, 
1998.  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 such license agreements with Harpo due to Harpo's 
failure to deliver episodes of THE OPRAH WINFREY SHOW.

<PAGE><PAGE 11>
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 NINE MONTHS AND THREE MONTHS ENDED MAY 31, 1998 AND 1997

Revenues
________

          Revenues for the first nine months of fiscal 1998 increased by 
approximately 2% over revenues for the first nine months of the prior fiscal 
year, primarily due to increased revenues from the sale of retained 
advertising time on and increased cash license fees from THE OPRAH WINFREY 
SHOW, WHEEL OF FORTUNE and JEOPARDY!, offset by lower revenues from ROLONDA 
(due to the discontinuation of the show) and King World Direct.  The decrease 
in revenues from King World Direct was attributable to significantly lower 
sales of the WILD AMERICA video series and the Sears Craftsman Robogrip 
pliers.  King World Direct operates in a seasonal business with revenues 
heavily reliant on the Christmas selling season.  Consequently, King World 
Direct's revenues and earnings have historically been higher in the Company's 
second fiscal quarter than in the first, third and fourth fiscal quarters.  

          The Company's revenues for the three months ended May 31, 1998 were 
comparable to revenues for the three months ended May 31, 1997, increasing by 
less than 1%, due primarily to the same factors discussed above with respect 
to the nine month period.

<PAGE><PAGE 12>
          The principal components of the Company's revenues for the nine 
months and three months ended May 31, 1998 and 1997 are as follows:


                         Nine Months Ended     Three Months Ended
                              May 31,                May 31,
                         _________________     __________________

                              1998          1997          1998          1997
                              ____          ____          ____          ____

THE OPRAH WINFREY SHOW          42%          40%          42%          41%

WHEEL OF FORTUNE               21%          20%          21%          21%

JEOPARDY!                         18%          17%          18%          17%

INSIDE EDITION                    7%          8%          7%          8%

AMERICAN JOURNAL (1)          4%          4%          4%          4%

ROLANDA (2)                    --          1%          --          1%

King World Direct               2%          4%          1%          2%

(1)  The production of AMERICAN JOURNAL will be discontinued after the current 
broadcast season.
(2)     The production of ROLONDA was discontinued after the 1996-1997 
broadcast season.

Producers' fees, programming and other direct operating costs
_____________________________________________________________

          Under the terms of its agreement with Harpo, following the 1996-1997 
season, the profit sharing arrangements between Harpo and the Company 
previously in effect were terminated and, in the 1997-1998 season and 
thereafter, the Company instead receives distribution fees based on a 
percentage of gross revenues derived from the series.  These arrangements are 
less favorable to the Company than those contained in prior agreements between 
the Company and Harpo.  As a result of these changes, the contribution of THE 
OPRAH WINFREY SHOW to the Company's net profits and cash flow has declined.

          Producers' fees, programming and other direct operating costs 
increased by approximately 8% in the first nine months of fiscal 1998 compared 
to the first nine months of fiscal 1997.  The increase was primarily due to 
the greater portion of revenues payable to Harpo, as discussed above, as well 
as the increase in revenues generated by THE OPRAH WINFREY SHOW, WHEEL OF 
FORTUNE and JEOPARDY! (a portion of which is payable to the producer of each 
such series).  These effects were partially offset by the lower operating 
costs of King World Direct and a decrease in production costs due to the 
discontinuation of ROLONDA. For the three months ended February 28, 1998, 
producers' fees, programming and other direct operating costs increased by 
approximately 
<PAGE><PAGE 13>
9% due primarily to the same factors as those discussed above for the nine 
month period.

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 preestablished 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, second and 
third quarters of fiscal 1998, which include all amounts payable in accordance 
with the terms of such employment agreements.

          Selling, general and administrative expenses for the first nine 
months of fiscal 1998 were lower by approximately 7%.  The decrease was 
primarily due to a decrease in advertising and promotion costs for THE OPRAH 
WINFREY SHOW, ROLONDA and AMERICAN JOURNAL, partially offset by increases in 
the costs of programming under development and greater costs incurred in 
connection with the sales of programs distributed by the Company.  Selling, 
general and administrative expenses for the three months ended May 31, 1998 
decreased by 17% compared to the corresponding period of fiscal 1997, 
primarily due to the decrease in advertising and promotion costs for THE OPRAH 
WINFREY SHOW, ROLONDA and AMERICAN JOURNAL.

Net income and earnings per share
_________________________________

          Due to the factors discussed above, the Company's operating income 
for the nine months and three months ended May 31, 1998 decreased by 
approximately 8% for each such period compared to the corresponding period of 
the prior year.  Net income decreased by approximately $5.2 million, or 5%, 
for the nine months ended May 31, 1998 in comparison to the nine months ended 
May 31, 1997, reflecting the decrease in operating income  and slightly lower 
interest income earned on the Company's cash and investments, partially offset 
by a lower effective tax rate for the first nine months of fiscal 1998.  Basic 
earnings per share decreased by 3% from $1.44 per share in the first nine 
months of fiscal 1997 to $1.40 per share in the first nine months of the 
current fiscal year as a result of the decline in net income offset by a 
decrease in the number of shares outstanding resulting from the Company's 
stock repurchase program.  Diluted earnings per share decreased by 6% from 
$1.43 per share in the first nine months of the prior year to $1.34 in the 
first nine 
<PAGE><PAGE 14>
months of fiscal 1998, due primarily to a higher average Common Stock price 
for the first nine months of fiscal 1998 (which resulted in a greater dilutive 
effect of outstanding stock options under the method used by the Company to 
calculate diluted earnings per share).

          For the three months ended May 31, 1998 as compared to the same 
period of the prior year, net income decreased by 4% from $35.7 million to 
$34.2 million; basic earnings per share decreased by 2% from $.48 per share to 
$.47 per share; and diluted earnings per share decreased by 6% from $.48 per 
share to $.45 per share, all for the same reasons discussed above for the nine 
month period.

          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 2001-2002 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 1997-1998 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.

          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 Company is currently funding the 
development and production costs of THE ROSEANNE SHOW and its new version of 
HOLLYWOOD SQUARES.

          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 with Harpo, the Company has the exclusive right, and 
has agreed, 
<PAGE><PAGE 15>
to distribute episodes of THE OPRAH WINFREY SHOW produced through the 
1999-2000 broadcast season.  Pursuant to such agreement, Harpo and Ms. Winfrey 
have also committed to produce and host the show through the 1999-2000 
broadcast season.

          After the 1999-2000 broadcast season, King World's right to 
distribute THE OPRAH WINFREY SHOW, if not renewed, will terminate.  For 
several years, the Company has been, and is now, in the process of developing 
new television shows for syndication that it hopes will gain widespread 
audience appeal and generate significant revenues and income for the Company.  
Three such shows, THE ROSEANNE SHOW and a new version of the game show 
HOLLYWOOD SQUARES, are scheduled to premiere in the 1998-1999 broadcast season 
and a variety/talk show hosted by Martin Short for possible premiere in the 
1999/2000 broadcast season.  Although the Company hopes to renew its 
distribution arrangements with Harpo for television seasons following the 
1999-2000 season, there can be no assurance that (a) Harpo and Ms. Winfrey 
will continue to produce and host the show beyond that season; (b) even if 
they do continue to produce and host the show beyond that season, that the 
Company will be able to obtain the distribution rights for any such future 
season on terms favorable to the Company; or (c) that the revenues generated 
by these or any other new shows will be sufficient to offset the loss of 
revenues and income that would result if such future distribution rights are 
not so obtained.  The failure to renew such distribution rights on favorable 
terms, coupled with the failure of such new shows to gain widespread audience 
appeal, could be expected to have a material adverse effect on the Company's 
results of operations and financial condition after the 1999-2000 broadcast 
season.

          On January 2, 1996 the Company paid an advance of $65 million to 
Harpo against Harpo's minimum participation payments for the 1997-1998 
broadcast season which was fully recouped as of May 31, 1998.  In addition, in 
September 1997, the Company made advances to Harpo in the aggregate amount of 
$130 million against Harpo's minimum participation payments for the 1998-1999 
and 1999-2000 broadcast seasons, none of which was recouped as of May 31, 
1998.  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 
<PAGE><PAGE 16>
considers it advantageous to do so.  A division of the Company, King World 
Ventures, has primary responsibility for the Company's investment and 
acquisition program, including analysis of new business opportunities.

          On April 15, 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 July 8, 1998, 3,041,700 shares of Common Stock had been 
repurchased for aggregate consideration of approximately $66.0 million or 
approximately $21.70 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 will be financed out of the Company's available 
cash and liquid investments.

          On May 16, 1997, a special dividend distribution of $1.00 per share 
was paid to stockholders of record on April 25, 1997.  The Company used 
approximately $74.8 million of its cash and liquid investments to pay the 
special dividend.  The Company has no present plan to declare additional cash 
dividends in the foreseeable future.

           On January 19, 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 on January 19, 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
          _________________

          On May 8, 1998, the Board of Directors elected Avram Miller as a 
director, to fill a new position on the Board created pursuant to Section 2.2 
of the Company's By-Laws.  Mr. Miller has been elected to the class of the 
Company's directors whose term expires at the 1999 annual meeting of 
stockholders.

<PAGE><PAGE 17>
Item 6.     Exhibits and Reports on Form 8-K
          ________________________________

(a)     Exhibits:
     ________

     3.(i)Certificate of Amendment dated January 28, 1998 to Restated 
Certificate of Incorporation of the Company.

     3.(ii)Restated By-Laws of the Company (as of May 8, 1998).

     27.1     Financial Data Schedule.

(b)     Reports on Form 8-K
     ___________________

     None.
<PAGE><PAGE 18>
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

July 14, 1998