8-K

                         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: September 15, 1998
                 DATE OF EARLIEST EVENT REPORTED: September 8, 1998




                        CHILDREN'S BROADCASTING CORPORATION
               (Exact name of registrant as specified in its charter)

         MINNESOTA                   0-21534                  41-1663712
         ---------                   -------                  ----------
      (State or other         (Commission File No.)     (IRS Employer ID No.)
        jurisdiction
     of incorporation)

                724 FIRST STREET NORTH, MINNEAPOLIS, MINNESOTA 55401
                ----------------------------------------------------
                      (Address of principal executive offices)


                                   (612) 338-3300
                                   --------------
                (Registrant's telephone number, including area code)



ITEM 5.  OTHER EVENTS.

     (a)  Reference is made to the Press Release issued to the public by the
Registrant on September 8, 1998, and attached hereto as an exhibit, relating to
the Registrant completing the sale of its Detroit AM station for $2,000,000 to
1090 Investments, L.L.C.

     (b)  Reference is made to the Press Release issued to the public by the
Registrant on September 14, 1998, and attached hereto as an exhibit, relating to
the Registrant's Board of Directors authorizing a stock repurchase program
pursuant to which 385,000 shares of the Registrant's common stock will be
repurchased.  Pursuant to the program, the Registrant has acquired all 385,000
shares at an average cost per share of $3.187, including commissions.

     (c)  Reference is made to the cautionary statements of the Registrant,
presented in the Registrant's Form 10-KSB for the year ended December 31, 1997,
filed on March 31, 1998.



ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

     (c)  Exhibits

          99.1 Press Release dated September 8, 1998.

          99.2 Press Release dated September 14, 1998.





                                      SIGNATURE

     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 hereunto duly authorized.

Dated: September 15, 1998          CHILDREN'S BROADCASTING CORPORATION



                                   BY:       /s/ Patrick D. Grinde
                                             ---------------------
                                             Patrick D. Grinde
                                   ITS: Chief Financial Officer



                                   EXHIBIT INDEX

99.1 Press Release dated September 8, 1998.

99.2 Press Release dated September 14, 1998.

EX-99.1

                                    EXHIBIT 99.1


                        CHILDREN'S BROADCASTING CORPORATION
                            ANNOUNCES CLOSING OF SALE OF
                               DETROIT RADIO STATION


MINNEAPOLIS, MN, SEPTEMBER 8 - Children's Broadcasting Corporation (CBC, Nasdaq
National Market: AAHS) announced today that it had closed upon the sale of the
assets of its Detroit radio station, WCAR (AM), to 1090 Investments, L.L.C. for
$2 million.  The sale of ten radio stations to Catholic Radio Network, LLC for
$57 million is expected to occur in September, and the sale of CBC's final 2
radio stations for $4.7 million to Salem Communications Corporation is expected
to occur in October.

Certain statements in this press release constitute "forward-looking statements"
within the meaning of the private Securities Litigation Reform Act of 1995.  In
particular, statements contained herein regarding the Company's future outlook
and opportunities are subject to known and unknown risks, uncertainties and
contingencies, many of which are beyond the control of Children's Broadcasting
Corporation, and which may cause actual results to differ from those projected.

Children's Broadcasting Corporation, the creator of "Aahs World Radio is the
owner of 44.1% of the outstanding shares of Harmony Holdings, Inc. (Nasdaq:
HAHO), one of the largest television commercial production companies in the U.S.


# # #

EX-99.2

                                    EXHIBIT 99.2


                        CHILDREN'S BROADCASTING CORPORATION
                         ANNOUNCES STOCK REPURCHASE PROGRAM


MINNEAPOLIS, Sept. 14.  Children's Broadcasting Corporation ("CBC") (Nasdaq:
AAHS) announced today that its board of directors has authorized a stock
repurchase program pursuant to which up to 400,000 shares of CBC's common stock
may be repurchased.  Pursuant to the program, CBC has acquired 385,000 shares,
or approximately 5.6% of its outstanding common stock, at an average cost per
share of approximately $3.187, including commissions.  Repurchased shares are
considered authorized but unissued.  Following the repurchases to date, CBC had
6,484,004 shares of common stock issued and outstanding.

Christopher T. Dahl, CBC's president and chief executive officer, stated that
the board of directors believes the repurchase program reflects CBC's opinion
that its common stock is undervalued in the market and represents a good
investment.

CBC, the creator of Aahs World Radio (SM), is the owner of 44.1% of the
outstanding shares of Harmony Holdings, Inc. (Nasdaq: HAHO), one of the largest
television commercial production companies in the United States.

# # #