UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 10-QSB

(Mark  One)

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

                For the quarterly period ended March 31, 2002 or
                                               --------------

[ ] TRANSITION  REPORT  UNDER  SECTION  13  OR  15(d)  OF  THE  EXCHANGE  ACT

             For the transition period from __________ to _________

                        Commission file Number 000-24706
                                               ---------

                   SELECT  MEDIA  COMMUNICATIONS,  INC.
                ----------------------------------------
     (Exact  name  of  small  business  issuer  as  specified  in  its  charter)

             New  York                                     13-3415331
             ---------                                     ----------
(State  or  other  jurisdiction  of  incorporation      (IRS  Employer
            or  organization)                         Identification  No.)


         575  Madison  Avenue,  Suite  1006,  New  York,  NY  10022
        ----------------------------------------------------------
                 (Address  of  principal  executive offices)

                                 (212) 605-0548
                                 --------------
                           (Issuer's telephone number)

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check  whether  the  registrant  filed  all documents and reports required to be
filed  by  Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities  under  a  plan  confirmed  by  a  court.  Yes  [  ]  No[X]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  May  20,  2002:  31,552,683

Transitional  Small  Business  Disclosure  Format  (Check  One):  Yes [ ] No [X]

<PAGE>


PART  I  -  FINANCIAL  INFORMATION

ITEM  1.  CONDENSED  FINANCIAL  STATEMENTS.
                                                                        Page
                                                                        ----

  Condensed  Balance  Sheet  (Unaudited)-As  of  March  31,  2002        3-4

  Condensed  Statements  of  Operations  (Unaudited)-For  the  three
    months  ended  March  31,  2002  and  March  31,  2001                  5

  Condensed  Statements  of  Cash  Flows  (Unaudited)  -  For
    the  three months  ended  March  31,  2002  and  March  31,  2001     6-7

NOTES  TO  CONDENSED  FINANCIAL  STATEMENTS                              8-14


Item  2.  Management's  Discussion  and  Analysis                       15-18


PART  II  -  OTHER  INFORMATION

Item  1.  Legal  Proceedings                                               18
Item  2.  Changes  in  Securities  and  Use  of  Proceeds                  18
Item  3.  Defaults  Upon  Senior  Securities                               18
Item  4.  Submission  of  Matters  to  a  Vote  of  Security  Holders      19
Item  5.  Other  Information                                               19
Item  6.  Exhibits  and  Reports  on  Form  8-K                            19

Signatures                                                                 20

<PAGE>

PART  I - FINANCIAL INFORMATION

Item 1. Condensed Financial Statements.

                                                SELECT MEDIA COMMUNICATIONS INC.

                                                         CONDENSED BALANCE SHEET
                                                                     (UNAUDITED)
                                                                 March 31, 2002
--------------------------------------------------------------------------------

                                     ASSETS
                                     ------
<TABLE>
<CAPTION>

<S>                                                        <C>               <C>
CASH                                                                     $13,813
-----

PROPERTY AND EQUIPMENT, Net                                               21,875
---------------------------


OTHER ASSETS
-------------
Reorganization value, net of accumulated amortization of
                                                          $1,120,240  $1,323,918

Deposit on pending acquisitions                           6,268,185
                                                          ----------


Total other assets                                                     7,592,103
                                                                       ----------


TOTAL ASSETS                                                          $7,627,791
                                                                       ==========
</TABLE>

                                    See notes to condensed financial statements.
                                                                             3
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.

                                                         CONDENSED BALANCE SHEET
                                                                     (UNAUDITED)

                                                                  March 31, 2002
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                      LIABILITIES AND STOCKHOLDERS' DEFICIT
                      -------------------------------------
<S>                                                              <C>            <C>
CURRENT LIABILITIES
---------------------
Accounts payable and accrued expenses                         $5,081,109
Note payable - stockholder and accrued interest                 569,557
Note payable - discontinued operations and accrued interest     364,000
Reorganization liabilities, current portion                     375,527
Due to Lloyds Bahamas Securities, Ltd.                          173,842
Note payable                                                    22,500
                                                             -------------

  Total current liabilities                                                   $6,586,535
                                                                             -------------

OTHER LIABILITIES
-----------------
Convertible notes payable and accrued interest                 6,998,093
Reorganization liabilities, net of current portion             1,150,070
                                                             -------------

  Total other liabilities                                                      8,148,163
                                                                             -------------

  TOTAL LIABILITIES                                                           14,734,698
                                                                             -------------

COMMITMENTS AND CONTINGENCIES
------------------------------

STOCKHOLDERS' DEFICIT
-----------------------------------------------------------
Common stock - $.001 par value; 35,000,000 shares
 authorized, 17,552,683 shares issued and outstanding             17,552
Additional paid-in capital                                    14,394,415
Accumulated deficit                                          (21,518,874)
                                                             -------------

  TOTAL STOCKHOLDERS' DEFICIT                                                 (7,106,907)
                                                                              -------------

  TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                 $7,627,791
                                                                              =============
</TABLE>
                                 See notes to condensed financial statements.
                                                                           4
<PAGE>

                                                SELECT MEDIA COMMUNICATIONS INC.

                                              CONDENSED STATEMENTS OF OPERATIONS
                                                                     (UNAUDITED)

                              For the Three Months Ended March 31, 2002 and 2001
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                                                   2002          2001
                                               ------------  ------------
<S>                                                <C>           <C>

SALES                                          $        --   $     7,796
-------

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES       279,762       712,178
---------------------------------------------  ------------  ------------

   OPERATING LOSS                                 (279,762)     (704,382)
                                               ------------  ------------

OTHER INCOME (EXPENSE)
---------------------------------------------
  Other income                                       9,023            --
  Interest expense                                (244,332)      (58,461)
                                               ------------  ------------

   TOTAL OTHER INCOME (EXPENSE)                   (235,309)      (58,461)
                                               ------------  ------------

   LOSS FROM CONTINUING OPERATIONS                (515,071)     (762,843)

DISCONTINUED OPERATIONS
------------------------
  Loss from discontinued operations                     --      (459,964)
                                               ------------  ------------

   NET LOSS                                    $  (515,071)  $ (1,222,807)
                                               ============  ============

PER SHARE DATA - BASIC AND DILUTED
---------------------------------------------
  Net Loss from Continuing Operations          $     (0.03)  $     (0.05)
  Net Loss from Discontinued Operations                 --         (0.03)
                                               ------------  ------------
  Net Loss                                     $     (0.03)  $     (0.08)
                                               ============  ============
  Weighted Average Shares Outstanding           17,219,705    14,497,801
                                               ============  ============
</TABLE>
                                 See notes to condensed financial statements.
                                                                           5
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.

                                              CONDENSED STATEMENTS OF CASH FLOWS
                                                                     (UNAUDITED)

                              For the Three Months Ended March 31, 2002 and 2001
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>




                                                                2002         2001
                                                             ----------  ------------
<S>                                                           <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
-------------------------------------
 Net loss                                                    $(515,071)  $(1,222,807)
                                                             ----------  ------------
  Adjustments to reconcile net loss to net cash provided by
   (used in) operating activities:
    Stock-based compensation                                     5,000       338,309
    Depreciation and amortization                               64,229       201,782
    Accrued interest                                           148,520        20,959
    Deferred debt discount interest                             58,312            --
  Changes in assets and liabilities:
    Accounts receivable                                             --       (36,642)
    Prepaid expenses and other current assets                       --       (30,349)
    Accounts payable and accrued expenses                      241,615       471,415
                                                             ----------  ------------

TOTAL ADJUSTMENTS                                              517,676       965,474
                                                             ----------  ------------

NET CASH PROVIDED BY (USED IN) OPERATING
 ACTIVITIES                                                      2,605      (257,333)
                                                             ----------  ------------

CASH FLOWS FROM INVESTING ACTIVITIES
--------------------------------------
  Purchases of property and equipment                               --       (20,375)
  Deposit on acquisition                                            --       (98,102)
                                                             ----------  ------------

NET CASH USED IN INVESTING ACTIVITIES                        $      --   $  (118,477)
                                                             ----------  ------------
</TABLE>
                                 See notes to condensed financial statements.
                                                                           6
<PAGE>
                                               SELECT MEDIA COMMUNICATIONS INC.

                                 CONDENSED STATEMENTS OF CASH FLOWS, Continued
                                                                   (UNAUDITED)

                            For the Three Months Ended March 31, 2002 and 2001
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                                                      2002       2001
                                                   ----------  ---------
<S>                                                   <C>         <C>
CASH FLOWS FROM FINANCING ACTIVITIES
-------------------------------------
  Advances from stockholder                        $       --  $279,936
  Advance from officer                                     --    94,441
                                                   ----------  ---------

    NET CASH PROVIDED BY FINANCING
    ACTIVITIES                                             --   374,377
                                                   ----------  ---------

    NET INCREASE (DECREASE) IN CASH                     2,605    (1,433)

CASH - BEGINNING                                       11,208     2,335
-----                                              ----------  ---------

CASH - ENDING                                      $   13,813  $    902
-----                                              ==========  =========


SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
-------------------------------------------------

 Noncash investing and financing activities:

    Acquisition of equipment thru capital leases              $   40,767
    Conversion of note payable common stock                   $1,522,200
    Conversion of accounts payable                 $  431,500


</TABLE>
                               See notes to condensed financial statements.
                                                                          7
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------


NOTE  1  -  Organization,  Basis  of  Presentation  and  Management  Plans
            --------------------------------------------------------------

The  Company  and  Nature  of  Business
---------------------------------------
Select  Media  Communications Inc. ("Select Media" or the "Company"), a New York
integrated media company, was organized in September 1981.  On October 13, 1995,
the  Company filed for voluntary petition for reorganization pursuant to Chapter
11  of Title 11 of the United States Bankruptcy Code.  The petition was filed in
the  United  States  Bankruptcy  Court for Southern District of New York and its
plan of reorganization was confirmed on August 28, 1997.  In the period from the
Company's  bankruptcy  filing  in October 1995 until September 1998, the Company
was  essentially  dormant.  In  September  1998,  the  Company  reactivated  its
marketing  efforts  and  began  marketing  its vignette products to advertisers.

On  January  18,  2000,  the Company purchased all of the issued and outstanding
common  stock of Sigma Sound Services, Inc. ("Sigma") pursuant to the terms of a
stock  purchase  agreement.  The  Company  determined  that effective  April  1,
2001  control  of  Sigma  became  temporary  when  the  Company  defaulted  on
various  payments  due  to the former owner of Sigma.  The Company negotiated  a
settlement of this matter in which the ownership of Sigma reverted back  to  the
former  owner.  The  disposal  of Sigma has been accounted for as a discontinued
operation  (Note  2).

Select  Media  is  actively  pursuing  the  acquisition  of  content  providers,
production and post-production houses to become a vertically integrated provider
and distributor of video/television programming and recorded music.  The Company
currently  has  two  pending  acquisitions.

Reclassifications
-----------------
Certain accounts in the prior period financial statements have been reclassified
for  comparative  purposes  to conform to the presentation in the current period
financial  statements.  These  reclassifications  have  no  effect on previously
reported  net  loss.

Going  Concern  Uncertainty
---------------------------
As  shown  in  the accompanying financial statements, the Company incurred a net
loss  of  $515,071  for  the three-month period ended March 31, 2002, and, as of
that  date,  the  Company's  current  liabilities exceeded its current assets by
$6,572,722.  Management  of  the  Company  is  developing  a  plan to reduce its
liabilities  and  raise  equity capital for acquisitions through the issuance of
additional  common  stock  through private or public offerings conforming to the
requirements  of Securities Acts. The Company has received a best efforts letter
of  intent  from Lloyds Bahamas Securities, Ltd. ("Lloyds") for an additional $3
million  in  financing once the Company's common stock is eligible for quotation
on  the  OTC Bulletin Board, which occurred on April 20, 2001.  Additionally, in
November  2001, the Company entered into an agreement for  a $20,000,000 Private
Equity  Line of Credit.  There  can be no assurance that such financings will be
completed  or,  if completed, be on favorable terms. Under this plan the Company
intends  to  use  any  funds  raised  to  fund  operations and to make strategic
acquisitions
                                                                            F-8
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
NOTE  1  -  Organization,  Basis of Presentation and Management Plans, continued
            ---------------------------------------------------------

through  cash  and stock transactions.  Management hopes that these acquisitions
will enable the Company to generate positive cash flows from operations.  If the
Company  is  unable  to raise the appropriate funds it will not be able to  make
any  acquisitions  nor  will the Company be able to continue to fund operations.
There  can  be no assurances that the Company will be successful in its attempts
to  raise  sufficient  capital  essential  to  its  survival.  Additionally, the
Company  has  already  significantly  curtailed  its operations and is currently
unable  to pay many of its obligations. To the extent that the Company is unable
to generate or raise the necessary operating capital it will become necessary to
cease  operations.  These  matters  raise  substantial doubt about the Company's
ability  to  continue  as  a going concern.  However, the accompanying financial
statements  have  been prepared on a going concern basis, which contemplates the
realization  of  assets  and satisfaction of liabilities in the normal course of
business.  The  financial  statements do not include any adjustments relating to
the  recovery  of  the  recorded assets or the classification of the liabilities
that  might  be  necessary  should  the Company be unable to continue as a going
concern.

Basis  of  Presentation
-----------------------
Our  accompanying  unaudited  condensed  financial  statements  reflect  all
adjustments,  which  are,  in  the  opinion  of  management, necessary to a fair
statement  of the results of the interim period presented.  All such adjustments
are  of  a  normal  recurring  nature.  The  results of operations for the three
months  ended  March 31, 2002 are not necessarily indicative of the results that
may  be  expected  for any other interim period or the full year.  The financial
statements  should  be  read  in  conjunction  with  the  notes to the financial
statement  and  in  conjunction  with the Company's audited financial statements
contained  in  its  Annual Report on Form 10-KSB for the year ended December 31,
2001.  The  accounting  policies  used  to  prepare  the  condensed  financial
statements  are  consistent  with  those  described  in  the  December  31, 2001
financial  statements.


NOTE  2  -  Discontinued  Operations
            ------------------------

On  April  11, 2001, the Company entered into an agreement with the former owner
of  Sigma  whereby,  extending  the  due dates of: (i) the $345,637 note payable
issued  in  connection  with  the acquisition of Sigma, (ii) and $333,904 due to
officer,  to  May  31,  2001.

On June 26, 2001, the Company received a Notice of Default pursuant to the April
11,  2001 agreement.  On September 28, 2001 the matter was resolved. The Company
agreed with the former owner that control and ownership of Sigma would revert to
the  former  owner.  The Company further agreed to pay the former owner $350,000
pursuant  to  a  note  with interest at 8% payable in four equal installments in
2002  and  2003.  The  Company  further agreed to issue 45,000 restricted common
shares  (valued  at  $60,750)  in settlement of two Company employment contracts
with  employees  of  Sigma.
                                                                             F-9
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

NOTE  2  -  Discontinued  Operations,  continued
            ------------------------

The  net  book  value  of  Sigma's  assets  and  liabilities as reflected in the
Company's  consolidated  balance  sheet  as  of  April  1,  2001  was  $(2,867).
Accordingly,  on  April  1, 2001, the Company recorded a loss on disposal of its
investment  in Sigma of $407,883, consisting of the negative book value plus the
$350,000  note  payable  and  the  value  of  the  common  stock  issued.

NOTE  3  -  Litigation
            ----------

In  addition to the following, the Company is involved in litigation through the
normal  course  of  business.  The Company believes that the resolution of these
matters will not have a material adverse effect on the financial position of the
Company.

Former  Landlord
----------------
In  November 1999, 405 Lexington, L.L.C. (the "Former Landlord") began an action
in  New  York City Landlord-Tenant Court alleging that Select Media had breached
its lease and seeking the payment of use and occupancy of offices located at 666
Third  Avenue,  New  York,  NY  ("Offices").  In  May 2000, the Company began an
action  in  New York Supreme Court against the Landlord seeking an injunction to
permit  completion  of the build-out of the office space and damages for loss of
business.  On  October  30,  2000,  Select  Media  vacated  the  offices.

In  February  2001,  the  Company  entered into a mutual release with the Former
Landlord  and  both actions were dismissed with prejudice.  The Former Landlord,
after  drawing  down  on a $1,000,000 Letter of Credit (which was converted to a
note  payable  to  stockholder  and  was  later converted into 311,111 shares of
Common Stock on May 7, 2001), paid $700,000 of the amount due to the contractors
involved  in  the  build-out of the Company's space.  The Company is responsible
for  any  additional  amounts  claimed  by  the  contractors as described in the
following  paragraph.

Former  Contractors
-------------------
In  September  2000,  a contractor began an action in New York Supreme Court for
services  rendered  in  the build-out of the Company's leased space at 666 Third
Avenue.  Another  contractor filed a subsequent action, also in New York Supreme
Court,  relating to its services with respect to this build-out.  Upon motion by
the  Company,  the  two  actions were consolidated.  Approximately $1,200,000 is
claimed  in  the consolidated actions. As discussed above, the landlord has paid
$700,000  of this amount with the Company responsible for any additional amounts
determined to be owed to the contractors.  The Company is defending this action.
The  judgment is measurable and some payment is probable, therefore, the Company
recorded  $500,000 expense during the years ended December 31, 1999 and 2000 and
is  included  in  accrued  expenses  at  March  31,  2002.
                                                                         F-10
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
NOTE  3  -  Litigation,  continued
            ----------

Former  Consultant
------------------
In  November  2000, Commonwealth Partners LP instituted an action in the Supreme
Court  of  New  York seeking damages in excess of $600,000 for alleged financial
advisory  services rendered to the Company.  The Company believes this action is
without  merit  and has filed its answer in opposition.  However, the Company is
unable  to predict the outcome of this claim and, accordingly, no adjustment has
been  recorded  in  the  financial  statements  in  response  to  this  claim.


NOTE  4  -  Stockholders'  Deficit
            ----------------------

In  January  2002, the Company entered into an agreement with a former employee,
pursuant to which the former employee agreed to release the Company from payment
of  back  salary and expenses owed to him and to surrender 500,000 shares of the
Company's  Common  Stock.  These  shares  were  surrendered on January 31, 2002.

On  January  7, 2002, the Company granted warrants to purchase 100,000 shares of
Common  Stock  (50,000  exercisable at $1.37 and 50,000 exercisable at $0.30 per
share)  and on April 19, 2002, the Company granted a warrant to purchase 250,000
shares of Common Stock exercisable at $0.132 per share, to a member of the Board
of  Directors.

On  January 7, 2002, the Company granted, a warrant to purchase 50,000 shares of
Common  Stock  at  an  exercise  price  of  $5.00  per share to a stockholder as
additional  consideration  for  a  note  payable.

During  January  2002, the Company granted warrants to purchase 55,000 shares of
Common  Stock  with an exercise price of $1.25 per share to two former employees
as  settlement  of  back  salary  owed  to  them.

During  April  2002, the Company entered into an agreement with MSRK Holdings to
participate in the sponsorship of a new investor awareness program for an agreed
upon  fee  of  $50,000.  The  Company  agreed  to  provide MSRK Holdings with an
independent  research report and 5,000,000 freely trading shares (contributed by
three  existing  stockholders  see  below), in lieu of the $50,000 cash payment.
                                                                            F-11
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

NOTE  4  -  Stockholders'  Deficit,  continued
            ----------------------

On  March  21,  April  2,  and April 19, 2002, the Company issued to John Serubo
500,000  shares  (1,500,000  in  aggregate) as part of a settlement involving an
investor  awareness program and the payment of certain expenses on behalf of the
Company.  Accordingly,  the  Company recorded $5,000 of stock based compensation
for  the  three  months ended March 31, 2002, which represents the fair value of
the  500,000  shares  of  common  stock.

On  March  21,  2002  the  Company issued to a vendor 65,000 shares to settle an
outstanding  invoice  of  $  6,500.

On  April  19, 2002, the Company issued 2,000,000 shares to the Company's former
Chief  Executive  Officer  as  part  of  its  settlement  with him regarding the
investor  awareness  program  and past payroll and business expenses due him. In
addition,  for  his  service  as  a  Director and continued advice regarding the
Betelgeuse  acquisition  (see  Note  5),  he  was  granted a warrant to purchase
350,000  shares of Common Stock at $0.132 per share, which was 120% of the close
of  market  on  April  19,  2002.

On April 19, 2002, the Company's current Chief Executive Officer agreed to waive
any  salary  due  for  the period February 1, 2002 through June 30, 2002. He was
granted  a  warrant  to  purchase 3,500,000 shares of Common Stock at $0.132 per
share.

On  April  22, 2002 the Company entered into an agreement with a stockholder who
agreed  to  pay  $87,500, of which $72,500 would be applied toward completion of
the  Company's  and ANTRA's (see Note 5) financial statement audits for 2001 and
the  balance  toward release of shares for a new investor awareness program. The
stockholder  will  receive  7,000,000  shares  for  these  payments.

On  April  26, 2002, the Company issued 4,000,000 shares to Lloyds as part of an
agreement  reached  concerning  the  investor  awareness  program.


                                                                           F-12
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

NOTE  5  -  Commitments  and  Contingencies
            -------------------------------

Pending  Acquisition  -  ANTRA  Holdings  Group
-----------------------------------------------
On  November  9, 2001 the Company reached an agreement ("Exchange Agreement") in
principle  with  90% of the stockholders of ANTRA Holdings Group, Inc. ("ANTRA")
(Pink  Sheets: RECD) to exchange their stock for shares in the Company.  Closing
is  subject  to  obtaining the ANTRA stock certificates from ANTRA Stockholders.
However, on January 28, 2002, Select Media received a notice from counsel to the
representative  of  ANTRA'S  shareholders  that  the  shareholders  consider the
Exchange  Agreement  to  be  void and of no affect as a result of Select Media's
failure  to  perform  certain  of  its obligations under the Exchange Agreement.
While  Select  Media  considers  such claim to be without merit, there can be no
assurance  that  the  closing  of the ANTRA transaction will proceed. ANTRA is a
full  service record and publishing company focusing on the resourcing of talent
and marketing of new music together with the production, acquisition, licensing,
publishing  and  distribution of high quality recorded music in the music genres
of  Urban  Music  -  which includes Urban/Rap/Hip-Hop and Rhythm and Blues, with
some  interest  in Rock and Pop. ANTRA will become a new division of the Company
called  ANTRA  Entertainment.  Approximately  2,750,000  shares  of  restricted
Company  stock will be used for the exchange of all of the outstanding shares of
ANTRA.  In  addition,  there is a one time adjustment to the number of shares to
be issued if the price of the Company's Common Stock is less than$2.50 per share
one  year  from  the  closing  date,  as  defined.

In  connection  with  the pending acquisition of ANTRA, the Company, on November
19,  2001,  reached  agreement  to  convert  the  ANTRA  convertible  debt  into
approximately  $7  million  of Select Media convertible debt.  The assumption of
this debt has been reflected as a "deposit on pending acquisition". This debt is
redeemable  by  the Company at any time at 115% of the outstanding principle and
convertible  into  common  stock by the holders at the lessor of $3.50 or 88% of
the  fair  market value (as defined). Sale of the common stock issuable pursuant
to the conversion rights is subject to a volume restriction agreement as are the
shares  being  exchanged with the stockholders of ANTRA.  Select Media will also
issue  to  certain  investors,  999,940 warrants to purchase Select Media common
stock  at $2.50 per share, callable by the Company at $7.50.  A convertible loan
of  $250,000 as bridge financing to operate ANTRA is also being provided as part
of  this  transaction.  The  Company  has  also  agreed  to  file a registration
statement  covering  the  common  stock  underlying  the above convertible debt,
convertible  loan  and  warrants.
                                                                           F-13
<PAGE>
                                                SELECT MEDIA COMMUNICATIONS INC.
                                         NOTES TO CONDENSED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

NOTE  5  -  Commitments  and  Contingencies,  continued
            -------------------------------

Pending  Acquisition  -  Betelgeuse  Productions,  LLC
------------------------------------------------------
On  December  6,  2000,  the  Company  and  Betelgeuse  Productions,  LLC
("Betelgeuse"),a  full  service  television  and  video  production  and
post-production  business  in  New  York  signed  a  definitive  Asset  Purchase
Agreement  (the  "Definitive Agreement"),  whereby the Company will purchase all
of  the  assets  of  Betelgeuse  for $10,000,000 in cash.  As per the Definitive
Agreement,  the  Company  made  a  non-refundable  down  payment  of $525,000 to
Betelgeuse.  The  balance  of  the purchase price will be due at a closing to be
held  within  six  (6)  months  of completion of certain due diligence (the "Due
Diligence  Completion  Date").  Pursuant  to  the  Definitive Agreement, the Due
Diligence  Completion Date is defined as the date that the Company completes its
due  diligence; provided, however, that such date shall not be more than 45 days
from  the  date  that  the financial records were made available to the Company.
The Company does not yet have a commitment from a funding source for the balance
of  the  purchase  price.  There is no assurance that the Company and Betelgeuse
will  complete  the  acquisition.  If  the  Company  cannot raise the additional
$9,500,000  to  close on this acquisition within the specified time frame, it is
reasonably  possible  that  the  Company  would  be  unable  to  complete  the
acquisition.  In  addition, the current owners of Betelgeuse claim that too much
time  has  passed  and  that  the  Company  no  longer has the right to purchase
Betelgeuse  pursuant  to  the  Definitive  Agreement.  As a result, the carrying
amount  of  the  deposit on pending acquisition in the amount of $525,000 may be
reduced  materially  in  the  near  term.

Payroll  Taxes
--------------
Select  Media  has  not  filed  payroll tax returns from October 1, 1998 through
March  31,  2000.  As  of  December  31,  2001,  the  past due amounts have been
included  in  accrued  expenses totaling approximately $1,417,000 and consist of
payroll  taxes owed and estimated penalties and interest.  Beginning April 2000,
Select  Media began using a payroll service to process their current payroll and
file  and  pay  all  payroll  tax returns and applicable taxes.  At any time the
Internal  Revenue  Service  could  declare  Select  Media  in  default  of their
fiduciary  responsibility  and  could file a tax lien on the Company's assets or
take  other action against the Company and its responsible officers, which would
have  a  material  adverse  effect  on  the  Company's  business.

                                                                            F-14
<PAGE>

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

You  should  read  this  discussion  and analysis of our financial condition and
results  of  operations  in conjunction with our financial statements, including
the  notes  thereto,  included  in  this  interim  report.

OVERVIEW

Select Media is a New York corporation whose common stock is currently traded on
the  OTC  Bulletin  Board  under the symbol "SMTV.OB."  We began our business by
producing  and  distributing  "vignettes,"  which are short-form (thirty-second)
informational  programs  distributed  by  particular sponsors for viewing during
regular  programming.  In  1998,  we  hired  personnel  to  provide  services to
worldwide  news  broadcasters and act as a television news agency under the name
Select International Television Network, to produce and distribute news segments
for sale to local and foreign news broadcasters.  On October 30, 2000, we ceased
operations  of Select International Television Network.  On January 18, 2000, we
purchased  all  of  the  issued  and  outstanding  common  stock  of Sigma Sound
Services,  Inc.  pursuant  to  the  terms  of  a  stock  purchase agreement.  As
described  in  Note  2 to our condensed financial statements, we have determined
that,  effective  April  1,  2001,  control  of  Sigma  became temporary when we
defaulted on various payments due to the former owner of Sigma. On September 28,
2001  we  agreed with the former owner that control and ownership of Sigma would
revert  to the former owner.  We further agreed to pay the former owner $350,000
pursuant  to  a  note  with interest at 8% payable in four equal installments in
2002  and  2003.  We also agreed to issue 45,000 restricted shares of our common
stock in settlement of two Company employment contracts with employees of Sigma.
The disposition of Sigma has been accounted for as a discontinued operation.  In
March  2000,  Select Media purchased the assets of After Hours Productions, Inc.
consisting of certain contracts for recording projects. After Hours Productions,
Inc.  creates  custom music and video products.  On October 29, 2001, we reached
an  agreement  with  a  former  employee  settling  his  employment  contract by
assigning  certain  After Hours Productions, Inc. assets to the former employee.

As  a result of the acquisitions and subsequent divestitures described above, we
currently  operate  only  our  vignette  business.  That  business  is currently
dormant,  but  we  believe  that  we may be able to reinitiate operations of the
vignette  business.  We  believe  that,  given  the  changes in the structure of
television broadcasting, including, but not limited to, the creation of a number
of  alternative  television  networks  and the resulting scarcity of advertising
airtime  available  to  local  television  stations,  we  can  better  serve our
stockholders  by  becoming  the  owner  of  entertainment content providers.  By
owning  content  providers,  we  can take advantage of the changing distribution
systems  offered  by  broadcast, cable and Internet distribution of its product.

COMPETITION

We  face  competition  from  some  of the largest entertainment companies in the
United  States.  It  is  difficult  to estimate the size of the vignette market.
Although  we  are  not  aware  of  any  other companies involved in the vignette
business,  we  believe  that  competition  in  our business comes not from other
producers  of vignettes, but from other users of scarce airtime. One of the most
significant  developments in the broadcast television industry in the 1990's has
been  the  growth  of  alternative  broadcast networks, such as Fox, WB and UPN.
Before  this  development,  television  stations that were not affiliates of the
three  major  television  networks  (CBS,  NBC  and  ABC) were independent local
stations,  each  of  which  had  substantial  amounts  of airtime to sell to our

                                                                           F-15
<PAGE>
customers and us.  Today, most formerly independent stations are affiliated with
one  of  the  new networks.  As a result, the network, in exchange for providing
programming,  gets  to  sell  a significant portion of the affiliate's broadcast
airtime.  Therefore,  the  affiliate  has  less  airtime  to  sell itself.  As a
result,  the  cost  of  airtime  has  dramatically increased.  The entertainment
market  is  rapidly evolving and intensely competitive. Increased competition is
likely  to  result in price reductions, reduced gross margins and loss of market
share,  any  of  which  could  seriously  harm  our  net  sales  and  results of
operations.  Select  Media  expects  competition  to  intensify in the future as
additional  distribution  channels  for  entertainment  product  are opened.  In
particular,  we  believe  that  the  use  of  the  Internet  for distribution of
entertainment  products  is  both  an opportunity and a challenge.  With so many
entertainment  choices, we also face the challenge of adapting our core business
to  Internet entertainment.  We expect that our acquisition of content providers
will  enable  us  to  adapt  to the Internet entertainment challenge, because we
believe  that  Internet  technology  is  developing  faster  than content can be
produced.  Although  the  technology  exists  to  provide  a  rich entertainment
experience  via  the  Internet,  we  believe  that  there is not sufficient high
quality  content  available  for  users.  On  December  6,  2000,  we  signed  a
definitive  Asset Purchase Agreement (the "Definitive Agreement") to acquire all
the  assets  and  liabilities  of  Betelgeuse  Productions, LLC for $10 million.
Betelgeuse  has the ability to create entertainment content for broadcast, cable
and  Internet and to adapt existing product for use as Internet content. We have
made  a  $525,000 down payment in connection with the transaction; the remaining
balance of $9.5 million is due six months from the due diligence completion date
(see Note 5 to the financial statements).  This transaction is currently on hold
as  a result of our in ability to agree on the current value of the business and
our  inability  up  to  this  time  to  obtain  financing  for  the transaction.

As  a  further  part of our strategy to acquire content providers and production
and  post-production  service  providers as a vertically integrated provider and
distributor  of  programming and high-quality recorded music through traditional
media  and  the  new  medium of the Internet, on November 9, 2001, we reached an
agreement  with  90%  of  the  shareholders  of ANTRA Holdings Group, Inc. (Pink
Sheets:  RECD)  to exchange their shares of ANTRA stock for shares of our common
stock,  and  we  plan  to complete the acquisition in June 2002.  On January 28,
2001,  however,  we  received  a  notice  from  counsel to the representative of
ANTRA's shareholders that the shareholders consider the Exchange Agreement to be
void  and of no effect as a result of our failure to fund ANTRA pending closing.
We  consider  this claim to be without merit, but there can be no assurance that
the  completion of the ANTRA acquisition will occur as planned.  On November 19,
2001,  we  reached agreement to convert the existing ANTRA convertible debt into
$7  million  of Select Media convertible debt.  ANTRA's music recording business
consists  of several functions, including publishing, production, manufacturing,
licensing,  distribution  and  promotion.  ANTRA  competes with many larger full
service  corporations  in  the  music record business but focuses on the smaller
sub-segment  music genre of urban music, primarily urban/rap/hip-hop.  ANTRA has
formed  joint  ventures  in  the  past  to  distribute  and promote its records.

MARKET  STRATEGY

If and when we reinitiate our vignette business, we plan to market our remaining
vignette  products to large advertisers directly to their marketing departments.
The  cost  of advertising airtime has the greatest impact on whether we can sell
our  vignette  product.  For  each  airing  of  a  vignette, the customer has to
purchase  sufficient  airtime  to broadcast both the vignette and the customer's
own  advertisement.  The greater the cost of airtime, the higher the cost to the
customer.  We only resell airtime to our vignette customers to air vignettes. We
are  not  in  the  business  of  reselling  airtime  to  third  parties.
                                                                           F-16
<PAGE>
EMPLOYEES  AND  PROPERTIES

Select  Media  had  1  full  time employee as of March 31, 2002.  On October 30,
2000,  Select  Media  moved  from  a facility at 666 Third Avenue, New York, New
York,  which  was  used  as  the  principal corporate office and the site of its
studio  facilities,  to  44 E. 32nd Street in New York, and in February, 2001 to
475  Park  Avenue  South,  10th  Floor  in New York, subletting these latter two
spaces  from  Betelgeuse.  In November, 2001 we moved our offices to 575 Madison
Avenue,  Suite  1006  in  New  York,  New  York.

RESULTS  OF  OPERATIONS

REVENUES

Before  the  disposition  of  Sigma  Sound Services, Inc., our net revenues were
derived  mainly from Sigma Sound Services, Inc. Revenues were zero for the three
months ended March 31, 2002 as compared to $7,796 for the period ended March 31,
2001.  The  decrease  in  2002  was  due  to  a  curtailment  of  operations.

EXPENSES

Total  operating expenses were $279,762 in the three months ended March 31, 2002
compared  with $712,178 in the three months ended March 31, 2001, for a decrease
of  $432,416  or  61%.  This decrease was attributable to the reduction of other
expenses  as part of the redirection of the Company to acquire content providers
and  distributors  of  programming  and  high-quality  recorded  music  through
traditional  media  and  the  Internet.

LOSSES

The  Company  incurred  losses  from  operations of $515,071 in the three months
ended  March 31, 2002 compared to $1,222,807 in the three months ended March 31,
2001,  for  a decrease of $707,736 or 58%. This decrease was mostly attributable
to  the  loss  from  discontinued  operations  in the amount of $459,964 and the
reduction of other expenses as part of the redirection of the Company to acquire
content  providers  and  distributors  of  programming and high-quality recorded
music  through  traditional  media  and  the  Internet.

LIQUIDITY  AND  CAPITAL  RESOURCES

We  have  significant  capital  needs, which to date we have met through private
sales  of  our equity and loans.  Sales of common stock at less than the current
trading  price  could  tend  to  depress  prices.  We  will  continue  to  need
substantial  infusions of capital, which we expect to continue to fund primarily
from  private  sales of our equity, loans, or by a public offering of our equity
or  debt  securities.
                                                                           F-17
<PAGE>
On  November  27, 2001, the Company entered into a Private Equity Line of Credit
("PELC")  with Grenville Financial Ltd. (the "Investor"). During the term of the
PELC, the Company may issue, at its option, up to $20,000,000 of Common Stock to
the  Investor  at  a  purchase  price  equal to 90% of its fair market value (as
defined)  at  the  time  the Company exercises its option. Pursuant to the PELC,
there are several restrictions and contingencies that may affect the issuance of
the  Common  Stock. The PELC requires the registration of the Common Stock to be
declared  effective  prior  to  the  Company  exercising its option. There is no
assurance  that  the  Common  Stock will be registered or that market conditions
will  be  judged favorable by the Company to use the PELC.  We intend to use any
funds  raised to fund operations and to make strategic acquisitions through cash
and stock transactions.  Management hopes that these acquisitions will enable us
to  generate positive cash flows from operations.  If we are unable to raise the
appropriate  funds,  we will not be able to make any acquisitions nor will we be
able  to  fund operations through December 31, 2002. There  can be no assurances
that we will be successful in our attempts to raise sufficient capital essential
to  our survival.  Additionally, the Company has already significantly curtailed
its  operations, is currently unable to pay many of its obligations and could be
forced  to  cease  operations  in the near term. These matters raise substantial
doubt  about  our ability to continue as a going concern.  We owe our counsel in
our  bankruptcy  proceeding  professional  fees of $798,000.  However, under the
agreement  between  our  counsel,  and  us  this amount is payable only from our
profits.  If  and  when  our  operations become profitable, we will begin making
payments  on  this obligation.  In addition, we currently owe other professional
fees  in  excess  of  $600,000.

                            PART II-OTHER INFORMATION

ITEM  1.  LEGAL  PROCEEDINGS.

In  September  2000,  Micron  General  Contractors  began  an action in New York
Supreme Court to recover unpaid fees associated with services allegedly rendered
by  Micron  in  the build-out of our leased space at 666 Third Avenue, New York,
New  York. A subsequent action was filed by Robert B. Samuels, Inc., also in New
York Supreme Court, relating to its services with respect to this build-out. The
plaintiffs  in the two actions are seeking a total of approximately $470,000. We
are  defending  these  actions,  which are currently pending trial.  In November
2000,  Commonwealth Partners LP instituted an action in the Supreme Court of New
York  seeking  fees  in  excess  of  $600,000  for  financial  advisory services
allegedly  rendered by Commonwealth Partners LP to us. We believe this action is
without merit and have filed our answer in opposition. However, we are unable to
predict  the  outcome  of  this  claim  and, accordingly, no adjustment has been
recorded  in  the  consolidated  financial statements in response to this claim.


ITEM  2.  CHANGES  IN  SECURITIES.

Not  Applicable.
                                                                          F-18
<PAGE>
ITEM  3.  DEFAULTS  UPON  SENIOR  SECURITIES.

Not  Applicable.

ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS.

Not  Applicable.

ITEM  5.  OTHER  INFORMATION.

Not  Applicable.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K.

Not  Applicable

                                                                         F-19
<PAGE>
                                   SIGNATURES

In  accordance  with the requirements of the Exchange Act, the registrant caused
this  report  to  be  signed  on  its  behalf of the undersigned, thereunto duly
authorized.

                           SELECT  MEDIA  COMMUNICATIONS,  INC.
                           ------------------------------------
                          (Registrant)


Date:  June  10,  2002                         /S/  JAMES  F.  MONGIARDO
       ---------------                         -------------------------
                                               JAMES  F.  MONGIARDO
                                               Chief Executive Officer





                                                                   F-20