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 (Date of earliest event reported):  December 1, 1997



                        PITTWAY CORPORATION                   
       (Exact name of registrant as specified in its charter)



        Delaware                                 13-5616408        
(State or other jurisdiction                  (IRS Employer
     of incorporation)                    Identification Number)


                                1-4821
                       (Commission File Number)


200 South Wacker Drive, Suite 700, Chicago, Illinois   60606-5802 
(Address of principal executive offices)               (Zip Code)


Registrant's telephone number, including area code: (312) 831-1070









INFORMATION TO BE INCLUDED IN THE REPORT


Item 5.  Other Events

On December 1, 1997, Registrant announced that its Penton Publishing 
subsidiary has signed letters of intent to acquire three separate 
business media companies.  One of the acquisitions is contingent on 
Registrant spinning off Penton to the Registrant's shareholders in a 
tax-free distribution which, in turn, is subject to receipt of a 
favorable ruling on the spinoff from the Internal Revenue Service.  
The spinoff and acquisitions are more fully described in the press 
release filed as Exhibit 99 hereto, the first three paragraphs and 
last paragraph of which press release are hereby incorporated by 
reference.  


Item 7.  Financial Statements and Exhibits

         (c) Exhibits.
                                                   Sequentially
          Exhibit No.         Description         Numbered Pages

              99              Press release             4-5
                              dated
                              December 1, 1997












                                - 2 -



                             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 hereunto duly authorized.


                                        PITTWAY CORPORATION
                                        (Registrant)


Dated: December 3, 1997            By:  /s/ Paul R. Gauvreau	
                                         Paul R. Gauvreau
                                         Financial Vice President
                                         and Treasurer
























                                - 3 -
 



 

 

EX-99

Exhibit 99



FOR IMMEDIATE RELEASE

Contact:
Pittway Corporation, Chicago
Edward J. Schwartz, 312/831-1070

For background information on Pittway:
Edelman Worldwide, Chicago
Mark McCall, 312/240-2640
	

PITTWAY PLANS PENTON SPINOFF;
PENTON TO ACQUIRE THREE COMPANIES


Chicago, IL (December 1, 1997) -- Pittway Corporation (NYSE: PRYA) 
announced today that its Penton Publishing subsidiary has signed letters 
of intent to acquire three separate business media companies.  One of the 
acquisitions is contingent on Pittway spinning off Penton to the Pittway 
shareholders in a tax-free distribution. Although Pittway did not identify 
the three privately owned companies or provide other details of the 
transactions, it anticipates that, in the aggregate, they will add 10 to 15 
percent to Penton's sales.

All three acquisitions are subject to the execution of definitive 
combination agreements, among other conditions. In addition, the 
acquisition tied to the spinoff is subject to receipt of a favorable ruling on 
the spinoff from the Internal Revenue Service.  Pittway expects the 
acquisition/spinoff to be completed in the second quarter of 1998.  The 
other two transactions are expected to close in the next thirty to sixty 
days. 

As required by Pittway's charter, the spinoff distribution of Penton will 
be made proportionately to all Pittway stockholders without distinction 
between Pittway's Common and Class A shares.  The number of shares 
of Penton stock to be distributed per share of Pittway stock has not been 
determined at this time.

In making the announcement, King Harris, President and CEO of 
Pittway, stated: "Penton is about to take another important step in its 
distinguished 105-year history.  Its resurgence over the last five years 
will be aided further by these new media properties.  The acquisitions 
also will add seasoned professional management teams to Penton's own 
first-rate management group.  Tom Kemp, Penton's CEO, is fully 
committed to expanding Penton's business and making it one of the 
leading media companies in the United States.  We expect Penton to 
thrive as a free-standing, publicly traded company."

Penton is a publisher and printer of trade magazines, directories and 
other business-to-business media products and a producer of trade shows, 
conferences and direct mail marketing materials.  In 1996 Penton had 
revenues of $188 million, or 17 percent of Pittway's consolidated 
revenues.  For the first nine months of 1997, Penton's revenues were 
$153 million, 10 percent ahead of year ago amounts.  Substantially all of 
Pittway's other revenues come from its alarm group, which manufactures 
and distributes burglar and commercial fire alarm equipment and other 
low voltage products.

This press release, other than historical financial information, contains 
forward-looking statements that involve a number of risks and 
uncertainties.  Important factors that could cause actual results to differ 
materially from those indicated by such forward looking statements 
include:  the risk that one or more of the pending acquisitions will not be 
be completed, that the spinoff may not occur and that the anticipated 
financial results for one or more of the companies to be acquired may not 
be achieved, and other factors set forth in Item 1 of Pittway's annual 
report on Form 10-K for the year ended December 31, 1996.  These 
include risks and uncertainties relating to government regulation, 
competition and technological change, intellectual property rights, 
capital spending, international operations, and risks associated with the 
Company's acquisition strategies.



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