8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934.


    Date of Report (Date of earliest event reported):   February 12, 2001


                         TEAM COMMUNICATIONS GROUP, INC.
               (Exact name of registrant as specified in charter)


         California                   0-23307                 95-4053296
(State or Other Jurisdiction         Commission             (I.R.S. Employer
      of Incorporation)              File Number           Identification No.)


             11818 Wilshire Boulevard, Los Angeles, California 90025
                    (Address of principal executive offices)


Registrant's telephone number, including area code:  (310) 312 4400


                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)


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ITEM 5. OTHER EVENTS.

     On February 12, 2001, Team Communications Group, Inc., a California
corporation and the registrant herein, issued a press release concerning
anticipated losses for the fiscal year ended December 31, 2000, the appointment
of Michael Jay Solomon as Chairman and Chief Executive Officer and Jay Shapiro
and President and Chief Operating Officer and the related resignation of Drew S.
Levin, the restructuring of certain of its European operations and the review of
certain library acquisition and sales in fiscal 2000, and certain credit
facility and short term liquidity issues effecting the Company.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits.

EXHIBIT NO.        DESCRIPTION
- -----------        -----------

  99.1             Press release of Team Communications Group, Inc.
                   dated February 12, 2001




                                   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.



                                        TEAM COMMUNICATIONS GROUP, INC.



Date: February 13, 2001                  By: /s/ MICHAEL JAY SOLOMON
                                             -----------------------------
                                               Michael Jay Solomon

                                         Its:  Chairman of the Board and CEO



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EX-99.1

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                                                                    EXHIBIT 99.1

                                  Press Release


February 12, 2001

                         TEAM Communications Group, Inc.

                               -------------------

                   Names Michael Jay Solomon Chairman and CEO

                               -------------------

                    Expects to Report Loss for Full Year 2000

Los Angeles, CA - February 12, 2001 - TEAM Communications Group, Inc.
(NASDAQ_NMS: TMTV; Neuer Markt: TME) announced today that Michael Jay Solomon
has been appointed Chairman of the Board and Chief Executive Officer of the
Company effective immediately. Mr. Solomon, who is currently a member of the
Company's Board of Directors, was the co-founder of Telepictures Corp., which
later merged with Lorimar to become Lorimar Telepictures Corporation, where Mr.
Solomon served as President. Lorimar Telepictures was subsequently acquired by
Warner Bros., where Mr. Solomon served as President of Warner Bros.
International Television. Drew S. Levin, the Company's former Chief Executive
Officer, has resigned from the Company and its Board of Directors. Jay J.
Shapiro, the Company's acting Chief Financial Officer and formerly the head of
the entertainment and accounting practice of Laventhol & Horwath, has been
appointed President and Chief Operating Officer.

The Company also reported that it currently expects to take a charge of
approximately $21,000,000 against its results of operations for the year 2000.
The Company stated that the amount of the expected charge is subject to
adjustment, including possible increase, upon audit of the Company's year 2000
operations. It is also subject to completion of an internal examination of
whether certain of the Company's film library acquisition and distribution
transactions during the past year lacked economic substance. As a result of this
charge, the Company anticipates that it will report a loss for the year 2000 of
between $18,000,000 and $19,500,000 or a potentially larger amount. The Company
also disclosed that it has short-term liquidity needs, which Mr. Solomon stated
will receive his immediate attention.

Mr. Solomon stated, "I am gratified by the support of the Board. I look forward
to working with the executives of the Company, including Jay Shapiro, the new
President and Chief Operating Officer, and Jamie Waldron, President of
Production, in building on the Company's core business activities. It is my hope
that we can build on the increased production activities of 2000 and return the
Company to profitability as soon as practicable." Mr. Solomon further stated, "I
intend to focus whatever time is necessary to rebuild TEAM and make it a
success."



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The Company stated that the charges expected to be reflected in its year 2000
results will include the establishment of approximately $11,000,000 of reserves
against long-term receivables and 10,000,000 of reserves relating to the
valuation of its film programming inventory. The Company also expects to record
an adjustment of approximately $2,000,000 as a result of the early adoption of
certain new accounting requirements for producers and distributors of films.
These adjustments include $9,000,000 related to the elimination of the Company's
investment associated with its 1999 acquisition of Dandelion U.K. The Company
stated that it intends to restructure its present U.K. operations, and that Noel
Cronin, the Managing Director of Team Dandelion, has agreed to terminate his
employment agreement with the Company. The Company further reported that it has
instituted a strategic review of its acquired film libraries, with a view to
increasing the rates at which the Company amortizes its investments in those
libraries.

As a result of the anticipated adjustments and reserves, the Company expects
that it will not be in compliance with the terms of its existing bank financing
facilities, and is seeking appropriate waivers of these potential covenant
defaults. The Company is also seeking to restructure its financing arrangements.

Mr. Solomon is an established veteran of the entertainment industry and one of
the pioneers of television syndication. After leaving Warner Bros., Mr. Solomon
established Solomon Entertainment, which currently owns production companies in
Latin America, Spain and Rumania. Mr. Solomon is also building entertainment
centers in Miami and Puerto Rico, and is also the Chairman of the Board and
Chief Executive Officer of Maxx International (OTC (BB): MXII).