Securities and Exchange Commission
                   Washington, D.C. 20549
                         Form 10-KSB
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
     EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended June 30, 1996
                            OR
[  ] TRANSITIONAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________to_________________

               Commission File Number 0-26808
                HUNGARIAN BROADCASTING CORP.
   (Exact Name of Registrant as specified in its charter)

          Delaware                        13-3787223
     (State or other jurisdiction of                   (I.R.S. Employer
     incorporation or organization)                    Identification No.)

       445 Park Avenue, 15th Floor, New York NY 10022
          (Address of principal executive offices)

The Registrant's telephone number, including area code: (212) 758-9870

Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: 

     Title of Each Class           Name of Each Exchange on which Registered
Common Stock, par value $.001 per share                NASDAQ

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 requirement for the past 90 days.        Yes  X    No     

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.  [   ]

Registrant had revenues of $672,108 for the year ended June 30, 1996.
As of August 30, 1996, 2,577,500 shares of Common Stock were outstanding of
which 1,150,000 were held by non-affiliates of the Company.  The aggregate
market value of the Common Stock held by non-affiliates of the Company as
of August 30, 1996 was $7,475,000 (based upon the closing bid price on
such date on NASDAQ).

            Documents Incorporated by Reference

Part III-Portions of the Registrant's proxy statement for the Annual Meeting 
of Stockholders for the fiscal year ended June 30, 1996.

<PAGE>

This amendment is being filed to included the Financial Data Schedule (EX-27)



                                 SIGNATURES

       Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this Report
to be signed on its behalf by the undersigned, thereunto duly authorized, in
the City of New York, State of New York, on the 30 day of June, 1996.


                                            HUNGARIAN BROADCASTING CORP
                                            (Registrant)


 
                                            By /s/ Frank R. Cohen              
                                               Frank R. Cohen
                                               (Duly Authorized Representative)