U.S. SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                      -------------------------------------

                                    FORM 10-QSB


(mark one)
      [ X ]            ANNUAL REPORT PURSUANT TO SECTION 13
                 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
                   FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2000

      [    ]           TRANSITION REPORT UNDER SECTION 13
                 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

                           Commission File No. 0-16355
                       ----------------------------------

                          PRINCETON MEDIA GROUP, INC.
                 (Name of Small Business Issuer in its Charter)

          Ontario, Canada                             98-0082860
          (State or other jurisdiction                 (IRS Employer
          of incorporation or organization)           Identification No.)

            214 Brazilian Avenue, Suite 300, Palm Beach, Florida 33480
                    (Address of principal executive offices)
                                561/659-0121
                          (Issuer's telephone number)
                    -----------------------------------------
Securities registered under Section 12(b) of the Act:  None.

Securities registered under Section 12(g) of the Exchange Act as of June 30,
1999:
Common Stock, no par value.

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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  [  ]

The number of shares outstanding of the issuer's common stock, no par value,
as of August 14, 1999 was 4,178,722.

Transitional Small Business Disclosure Format (check one):

            Yes  [   ]        No  [ X ]

<PAGE>




PART I.           FINANCIAL INFORMATION

      Item 1.     Financial Statements (unaudited)

All financial information is expressed in United States dollars.

      INDEX TO FINANCIAL STATEMENTS

         Balance Sheet June 30, 2000

         Statements of Operations and Accumulated Deficit
           for the Six Months Ended June 30, 2000 and 1999
           and for the Three Months Ended June 30, 2000 and 1999

         Statements of Cash Flows
           for the Six Months Ended June 30, 2000 and 1999

         Notes to Financial Statements


      Item 2.     Management's Discussion and Analysis

PART II.          OTHER INFORMATION

      Item 6.     Exhibits and Reports on Form 8-K

Signatures
<PAGE>
<TABLE>
                          PRINCETON MEDIA GROUP, INC.
                               Balance Sheet
                               June 30, 2000


(Unaudited)

<S>
<C>
                                        Assets
Current assets
Cash                                                           $        205
Marketable securities                                                 2,929
Due from affiliate                                                    7,100

   Total current assets                                              10,234

Property and equipment, cost                                         43,408
Less accumulated depreciation                                       (22,956)

Property and equipment, net                                          20,452

Total assets                                                    $    30,686

                    Liabilities and Shareholders' Equity (Deficit)

Current liabilities:
Accounts payable                                                $   226,829
Accrued expenses                                                     50,000
Advances payable - related parties                                   68,145
Note payable on demand                                              250,000
Accrued interest                                                      1,684

   Total current liabilities                                        596,658

Shareholders' equity (deficit):
Series A Preference Shares                                           28,923
Series C Preference Shares                                          739,696
Common Stock                                                     21,297,570
Accumulated deficit                                             (22,632,161)

    Total shareholders' equity (deficit)                        (   565,972)

Total liabilities and shareholders' equity                      $    30,686

</TABLE>

            See accompanying notes to consolidated financial statements.


<PAGE>

                                    PRINCETON MEDIA GROUP, INC.

                        Statements of Operations and Accumulated Deficit

                                                (Unaudited)
<TABLE>
                           Three Months Ended              Six Months Ended
                              June 30,                        June 30,
                        2000            1999              2000        1999
<S>                                     <C>               <C>

Costs and operating
  expenses:

Selling and
  administrative     $     541    $     28,621        $   4,297    $   29,975
Depreciation             2,170           1,850            4,340         3,699

Income (loss) from
  operations           ( 2,711)       ( 30,471)         ( 8,637)     ( 33,674)

Other income
  Gain on reduction of
   guaranteed note payable  -              -                -          72,055

Net income (loss)      ( 2,711)       ( 30,471)         ( 8,637)       38,381

Accumulated deficit,
  beginning of
  period           (22,629,450)    (22,669,457)     (22,623,524)  (22,738,309)

Accumulated deficit,
  end of period   $(22,632,161)   $(22,699,928)    $(22,632,161) $(22,699,928)

Basic and diluted
  loss per share  $       0.00    $   (   0.01)    $    (  0.01) $       0.00


               See accompanying notes to consolidated financial statements.

</TABLE>



<PAGE>                          PRINCETON MEDIA GROUP, INC.

                                 Statements of Cash Flows

                                       (Unaudited)
<TABLE>
                                                  Six months ended June 30,

<S>                                                <C>            <C>
                                                   2000           1999

Cash flows from operating activities:
   Net income (loss)                         $   ( 8,637)   $     38,381
     Adjustments to reconcile net loss
     to net cash used in
     operating activities

      Depreciation                                 4,340           3,699

      Gain on reduction of guaranteed payment        -          ( 72,055)

   Changes in assets and liabilities
     Increase (decrease) in:
      Accounts payable                               -            11,829

      Net cash used in operating
         activities                              ( 4,297)        (18,146)

Cash flows from investing activities:

      Net cash provided by (used in)
         investing activities                        -               -

Cash flows from financing activities:

      Proceeds from note payable - affiliate       6,302          18,246
      Payments to affiliate                        1,800             -

      Net cash provided by
         financing activities                      4,502          18,246

Net increase in cash                                 205             100

Cash, December 31, 1999 and 1998                     -               -

Cash, June 30, 2000 and 1999                 $       205    $        100

</TABLE>

             See accompanying notes to consolidated financial statements.


<PAGE>
                           PRINCETON MEDIA GROUP, INC.

                          NOTES TO FINANCIAL STATEMENTS

1.   Basis for Presentation

The accompanying unaudited interim financial statements include the accounts
of Princeton Media Group, Inc. ("Princeton"). On October 27, 1998, Princeton
Publishing, Inc. and Firestone Publishing, Inc., wholly-owned subsidiaries of
Princeton Media Group, Inc., and Kingston Press, Inc., a wholly-owned
subsidiary of Princeton Publishing, Inc., each filed an Assignment for the
Benefit of Creditors (the Assignment(s)), a proceeding governed under the laws
of the State of Florida.  The Assignments were filed with the Court of the
11th Judicial Circuit in and for Miami-Dade County, Florida on October 27,
1998.  The Assignment proceeding gives creditors the opportunity to file
proofs of claims.  The Assignments were filed in order to expedite an orderly
sale and disposition of the assets of the entities and pay claims in order of
priority.  As of the end of 1998, Princeton had no operations.
In the opinion of management, the accompanying unaudited interim financial
statements contain all adjustments (consisting only of normal recurring
accruals) necessary to present fairly the financial position as of June 30,
2000, and the results of operations for the three months ended and six months
ended June 30, 2000 and 1999 and their cash flows for the six-month periods
ended June 30, 2000 and 1999.  The results of operations for the six months
ended June 30, 1999 are not necessarily indicative of the results to be
expected for the full year.  These statements should be read in conjunction
with the Company's annual report on Form 10-KSB for the year ended December
31, 1999.

2.   Basic and Dilutive Loss Per Share

Net loss per share is computed using the weighted average number of shares of
common stock outstanding.  Common equivalent shares from stock options and
warrants, and additional shares assuming the conversion of debentures and
preferred shares, are excluded from the computation as their effect is
antidilutive.

For the six months ended June 30, 2000 and 1999, cumulative dividends of
$22,000, respectively, related to preferred Series C have been added to net
loss in the loss per share computation.

The following table sets forth the computation of basic and diluted loss per
share as of June 30, 2000 and 1999:

                                                      2000             1999

Net loss from operations                         $ (   2,711)   $(   33,674)
  Preferred dividends - Series C                 $ (  22,000)    (   22,000)

Net loss to common shareholders - operations     $ (  24,711)   $(   55,674)

Extraordinary item:
  Gain on reduction of guaranteed note                   -           72,055

Net income (loss)to common shareholders          $ (  24,711)   $    16,381

Weighted average common shares outstanding         4,178,722      4,178,722

Basic and diluted loss per share:

Before extraordinary item                        $ (     .01)   $(      .01)

Gain on reduction of guaranteed note                     -              .01

Basic income (loss) per share                    $ (     .01)   $       .00

<PAGE>


ITEM 2  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Forward-looking Statements

Statements contained in this Form 10-QSB regarding the Company's future
prospects or profitability constitute forward-looking statements and as such,
must be considered with caution and with the understanding that various
factors could cause actual results to differ materially from those in such
forward-looking statements.  Such factors include but are not limited to
failure of pending or anticipated acquisitions to be consummated.

General

Year 2000 Reporting

On August 4, 1998, the SEC issued expanded requirements for disclosure
regarding the international computer programming problems whereby certain
computer programs will not be able to properly recognize the date in the year
2000. Management believes the Company has no material exposure from the year
2000 problem.  The Company's management information systems department reports
that because the Company's system was originally designed to be unaffected by
year 2000 problem, the Company has no exposure to the problem within its own
system. Because the Company has discontinued operations, the Company has no
vendors and suppliers whose non-compliance with correction of the problem
could cause material damage to the Company.

CURRENT PLANS

During 2000, management of the Company intends to pursue a plan of attempting
to identify an acquisition that could provide stable operations in order to
restore shareholder value.

Results of Operations

The Company has discontinued operations.  Net loss from operations for the
period consists of minor office expenses, audit fees, and depreciation.

The six months ended June 30, 2000 compared to the six months ended June 30,
1999:

There were no revenues for the six months ended June 30, 2000 or for the six
months ended June 30, 1999.

Costs and expenses for the six months ended June 30, 2000 were $2,711
compared to $33,674 for the six months ended June 30, 1999.

The Company had guaranteed a note related to the operations of the assigned
subsidiaries.  Per the terms of the note, the note was reduced by receipts to
the holder of the note from publications of the former subsidiaries of
Princeton.  During the first quarter of 1999, the note was reduced by
$72,055 from proceeds of publications of the former subsidiaries of Princeton.

Net loss for the six months ended June 30, 2000 was $2,711 comprised of
administrative maintenance costs.  Net income for the six months ended June
30, 1999 was $38,381 consisting of the extraordinary item of gain from
reduction of the guaranteed note of $72,055 and the loss from operations of
$33,674.

Liquidity and Capital Resources

Liquidity and capital resources are discussed in three broad categories:
operating activities, investing activities and financing activities.

During the six-month periods ending June 30, 2000 and 1999 there were no
interest expenses charged to operations.

Cash increased $205 to $205 at June 30, 2000 from $-0- at December 31, 1999.
Net cash used in operating activities was $4,297 during the six months ended
June 30, 2000 compared to net cash used of $18,146 during the six months
ended June 30, 1999. The decrease in net cash used in operating
activities in the first six months of 2000 compared to the first six months
of 1999 is a result of the one-time gain on the reduction of a guaranteed
note together with minor accounting expenditures.

During the six-month periods ending June 30, 2000 and 1999, there was no net
cash provided by or used in investing activities.

During the six months ended June 30, 2000, net cash provided by financing
activities was $4,502 compared to $18,246 net cash provided by financing
activities during the six months ended June 30, 1999.  The cash provided by
financing activities is a result of the advances made by related parties to
cover minimal operating expenses and audit fees.

PART II.  OTHER INFORMATION

Item 5:     Certain Relationships and Related Transactions

The Company shares corporate headquarters office space with Celebrity.
During 2000 and 1999, advances were made to the Company by certain related
parties on short-term bases at nominal interest rates to cover maintenance
costs during the period that management of the Company is seeking new
operations.

Item 6:     Exhibits and Reports on Form 8-K.
(a) Exhibits - None.
(b) Reports on Form 8-K: None.

                                SIGNATURES

      In accordance with Section 13 and 15 (d) of the Exchange Act of 1934,
the Registrant caused this report to be signed on its behalf by the
undersigned,thereunto duly authorized.

Date: August 14, 2000



                                             PRINCETON MEDIA GROUP, INC.


                                             /s/ James J. McNamara
                                             By: James J. McNamara,
                                             Chairman of the Board and
                                             Acting Chief Executive Officer