10-Q/A

                                   FORM 10-Q/A

                SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D. C. 20549

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

               For Quarter Ended September 30, 1996

                                       OR

       [ ] 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: 1-10781
             ___________ LANCIT MEDIA PRODUCTIONS, LTD. ___________
             (Exact Name of Registrant as Specified in its Charter)

New York                                        13-3019470
(State or other jurisdiction of               (I.R.S. Employer
incorporation or organization)              Identification No.)

                601 West 50th Street, New York, New York, 10019
               (Address of Principal Executive Office) (Zip Code)

                                 (212) 977-9100
        (Registrant's telephone number including area code)


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

The number of shares of registrant's Common Stock, $.001 par value,  outstanding
as of September 30, 1996 was 6,626,750 shares.












                                   SIGNATURES







Pursuant to the  requirements of Section 13 or 15(d) 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.

                         LANCIT MEDIA PRODUCTIONS, LTD.



Date: January 3, 1997          By: /s/ Gary Appelbaum
                               Gary Appelbaum
                               Senior Vice President, Chief
                               Financial Officer & Treasurer

EX-27

 


<ARTICLE>                     5

<CIK>                           0000868796
<NAME>                          Lancit Media Productions, Ltd.
<CURRENCY>                      U.S. Dollars
       
                             
<PERIOD-TYPE>                   3-Mos
<FISCAL-YEAR-END>               Jun-30-1997
<PERIOD-START>                  Jul-01-1996
<PERIOD-END>                    Sep-30-1996
<EXCHANGE-RATE>                 1.000
<CASH>                          7,640,707
<SECURITIES>                    0
<RECEIVABLES>                   3,594,286
<ALLOWANCES>                    0
<INVENTORY>                     0
<CURRENT-ASSETS>                16,170,623
<PP&E>                          738,451
<DEPRECIATION>                  0
<TOTAL-ASSETS>                  18,387,159
<CURRENT-LIABILITIES>           3,632,542
<BONDS>                         0
<PREFERRED-MANDATORY>           0
<PREFERRED>                     0
<COMMON>                        6,627
<OTHER-SE>                      13,395,733
<TOTAL-LIABILITY-AND-EQUITY>    18,387,159
<SALES>                         0
<TOTAL-REVENUES>                890,825
<CGS>                           0
<TOTAL-COSTS>                   764,598
<OTHER-EXPENSES>                0
<LOSS-PROVISION>                0
<INTEREST-EXPENSE>              0
<INCOME-PRETAX>                 (554,066)
<INCOME-TAX>                    0
<INCOME-CONTINUING>             (582,149)
<DISCONTINUED>                  0
<EXTRAORDINARY>                 0
<CHANGES>                       0
<NET-INCOME>                    (582,149)
<EPS-PRIMARY>                   (0.09)
<EPS-DILUTED>                   (0.09)