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<TITLE>Claxson Interactive Group, Inc.</TITLE>
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<P align="center" style="font-size: 10pt"><B>As filed with the
Securities and Exchange Commission on March&nbsp;17, 2004</B>



<P align="right" style="font-size: 10pt"><B>Registration No.&nbsp;333-</B>



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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 10pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>



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<P align="center" style="font-size: 24pt"><B>CLAXSON INTERACTIVE GROUP, INC.</B>



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<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>British Virgin Islands</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>None</B></TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification Number)</TD>
</TR>
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</DIV>



<P align="center" style="font-size: 10pt"><B>Avenida Melian 2752<BR>
C1430EYH Buenos Aires, Argentina</B>



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<DIV align="center" style="font-size: 10pt">(Address of Principal Executive Offices<B>)</B>
</DIV>


<P align="center" style="font-size: 10pt"><B>Claxson Interactive Group Inc. 2001 Share Incentive Plan</B>



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<DIV align="center" style="font-size: 10pt">(Full title of the Plans)
</DIV>


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<P align="center" style="font-size: 10pt"><B>CT Corporation System<BR>
111 Eighth Avenue<BR>
New York, NY 10011</B>



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<DIV align="center" style="font-size: 10pt">(Name and address of agent for service)
</DIV>


<P align="center" style="font-size: 10pt"><B>(212)&nbsp;894-8940</B>



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<DIV align="center" style="font-size: 10pt">Telephone number, including area code, of agent for service
</DIV>


<P align="center" style="font-size: 10pt"><B>Copy to:<BR>
Paul Berkowitz, Esq.<BR>
Greenberg Traurig, P.A.<BR>
1221 Brickell Avenue<BR>
Miami, Florida 33131<BR>
(305)&nbsp;579-0500</B>



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<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


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    <TD width="53%">&nbsp;</TD>
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    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Title of securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>shares to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>to be registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered(1)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per share</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee</B><HR size="1" noshade></TD>
</TR>

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    <TD><DIV style="margin-left:10px; text-indent:-10px">Class&nbsp;A Common Shares, $0.01 par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">930,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,760,882</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">223.10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
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<TR valign="top">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Pursuant to Rule&nbsp;416 of the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), this registration statement shall also cover any
additional shares of our common stock which become issuable under Claxson
Interactive Group Inc. 2001 Share Incentive Plan (the &#147;Plan&#148;) or by
reason of any stock dividend, stock split, recapitalization or other
similar transaction effected without the receipt of consideration which
results in an increase in the number of the outstanding shares of our
common stock.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Estimated solely for the purpose of calculating the registration fee in
accordance with Rule 457(h) of the Securities Act on the basis of: (i)
the exercise price of $0.738 with respect to options to purchase an
aggregate of 493,549 shares of common stock of the Registrant under the
Plan and (ii)&nbsp;the exercise price of $3.20 with respect to options to
purchase an aggregate of 436,451 shares of common stock of the Registrant
under the Plan.</TD>
</TR>

</TABLE>



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<P align="center" style="font-size: 10pt">&nbsp;
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<TR><TD colspan="9"><A HREF="#000">EXPLANATORY NOTE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART I. INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="g87874exv4w3.htm">EX-4.3 Amended & Restated '01 Share Incentive Plan</A></TD></TR>
<TR><TD colspan="9"><A HREF="g87874exv5w1.htm">EX-5.1 Opinion of Conyers Dill & Pearman</A></TD></TR>
<TR><TD colspan="9"><A HREF="g87874exv23w1.htm">EX-23.1 Consent of Deloitte & Touche LLP</A></TD></TR>
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<P align="center" style="font-size: 10pt"><B>EXPLANATORY NOTE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement covers the maximum number of shares of our
common stock that could be issued upon exercise of all outstanding options
under our 2001 Share Incentive Plan.

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<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART I. INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information specified by Items 1 and 2 of Part&nbsp;I of Form S-8 is
omitted from this filing in accordance with the provisions of Rule&nbsp;428 of the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;), and the introductory
Note to Part&nbsp;I of Form S-8.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of Form S-8
will be sent or given to participating employees as specified by Rule 428(b) of
the Securities Act. Such documents and the documents incorporated by reference
herein pursuant to Item&nbsp;3 of Part&nbsp;II hereof, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act.

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<P align="center" style="font-size: 10pt"><B>PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents, which have been filed with the Securities and
Exchange Commission (the &#147;SEC&#148;), are hereby incorporated by reference into this
registration statement:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Annual Report on Form 20-F for the fiscal year ended
December&nbsp;31, 2002, filed with the SEC on July&nbsp;15, 2003;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Current Reports on Form 6-K filed on September&nbsp;5, 2003,
October&nbsp;20, 2003, November&nbsp;4, 2003 and December&nbsp;1, 2003;</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our common stock contained in the proxy
statement/prospectus included as part of the Registration Statement
filed on Form F-4/A (Registration No.&nbsp;333-13062) as filed with the
SEC on August&nbsp;15, 2001, including all amendments or reports filed
for the purpose of updating such description; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Form 8-A filed on September&nbsp;5, 2001, pursuant to Section
12(g) of the Securities Exchange Act of 1934, as amended (the
&#147;Exchange Act&#148;).</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents subsequently filed by the Registrant pursuant
to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing
of a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, will be
deemed to be incorporated herein by reference and to be a part of this
registration statement from the date of filing of such documents. Any
statement contained in a document incorporated herein by reference will be
deemed to be modified or superseded for purposes of this registration statement
to the extent that a statement contained herein, or in a subsequently filed
document incorporated herein by reference, modifies or supersedes the
statement. Any statement modified or superseded will not be deemed, except as
modified or superseded, to constitute a part of this registration statement.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="center" style="font-size: 10pt">2
</DIV>

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under British Virgin Islands law, every director and officer of Claxson,
in performing his or her functions, is required to act honestly and in good
faith with a view to the best interests of Claxson and exercise the care,
diligence and skill that a reasonably prudent person would exercise in
comparable circumstances. No provision in Claxson&#146;s memorandum and articles of
association or in any agreement entered into by Claxson relieves a director or
officer from the duty to act in accordance with Claxson&#146;s memorandum and
articles of association or, except as set forth below, from any personal
liability arising from his or her management of the business and affairs of
Claxson.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Claxson shall indemnify, to the fullest extent permitted by legislation,
any director or officer against all expenses, including legal fees, and against
all judgments, fines and amounts paid in settlement and reasonably incurred in
connection with legal, administrative or investigative proceedings. Claxson may
only indemnify a director or officer if the director or officer acted honestly
and in good faith with a view to the best interests of Claxson and, in the case
of criminal proceedings, the director or officer had no reasonable cause to
believe that his or her conduct was unlawful. The decision of the board of
directors as to whether the director or officer acted honestly and in good
faith with a view to the best interests of Claxson and as to whether the
director of officer had no reasonable cause to believe that his or her conduct
was unlawful is, in the absence of fraud, sufficient for the purposes of
indemnification, unless a question of law is involved. The termination of any
proceedings by any judgment, order, settlement, conviction or the entry of no
plea does not, by itself, create a presumption that a director of officer did
not act honestly and in good faith and with a view to the best interests of
Claxson or that the director or officer had reasonable cause to believe that
his or her conduct was unlawful. If a director or officer to be indemnified has
been successful in defense of any proceedings referred to above, the director
or officer is entitled to be indemnified against all expenses, including legal
fees, and against all judgments, fines and amounts paid in settlement and
reasonably incurred by the director or officer in connection with the
proceedings.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Claxson may purchase and maintain insurance in relation to any director or
officer against any liability asserted against the director or officer and
incurred by the director or officer in that capacity, whether or not Claxson
has or would have had the power to indemnify the director or officer against
the liability as provided in Claxson&#146;s memorandum and articles of association.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the combination agreement, dated as of October&nbsp;30, 2000, among
us; Ibero-American Media Partners II, Ltd.; Carlyle Investments LLC and Carlton
Investments LLC (as assignees of Newhaven Overseas Corp.); Hicks, Muse, Tate &#038;
Furst Latin America Fund, L.P.; Hicks, Muse, Tate &#038; Furst Latin America Private
Fund, L.P.; HMLA 1-SBS Coinvestors, L.P.; and El Sitio, Inc., as amended (the
&#147;combination agreement&#148;) under which El Sitio became our subsidiary and each
issued and outstanding common share of El Sitio was canceled and converted into
the right to receive one Class&nbsp;A common share of our common stock we agreed to
the following indemnification provisions:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Claxson will indemnify and hold harmless and advance expenses,
including legal fees, to El Sitio&#146;s present and former directors and
officers, against all liabilities for acts or omissions in those
capacities occurring at or prior to the completion of the
transaction, to the fullest extent permitted under applicable law;
and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For at least six years after the transaction is completed,
Claxson is required to maintain in effect El Sitio&#146;s existing
directors&#146; and officers&#146; liability insurance, or to provide insurance
containing terms and conditions which are not materially less
advantageous, covering matters or events occurring prior to
completion of the transaction. However, Claxson is not required to
pay an annual premium for this insurance in excess of 150% of the
annual premiums paid by El Sitio at the time of the transaction.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See &#147;Exhibit&nbsp;Index&#148; on page II-1 below.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:


<P align="center" style="font-size: 10pt">3
</DIV>

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<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act of 1933 (the &#147;Securities Act&#148;);



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent more than a 20&nbsp;percent change in the
maximum aggregate offering price set forth in the &#147;Calculation of Registration
Fee&#148; table in the effective registration statement;



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement;



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply
if the information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed with or furnished to
the Commission by the Registrant pursuant to Section&nbsp;13 or 15(d) of the
Exchange Act that are incorporated by reference in this registration statement.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona
fide </I>offering thereof.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act that is incorporated by reference in the registration statement
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.


<P align="center" style="font-size: 10pt">4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Miami Beach, State of Florida on this 16&nbsp;day of
March, 2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3"><B>CLAXSON INTERACTIVE GROUP, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ Roberto Vivo-Chaneton
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Roberto Vivo-Chaneton&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby appoints each of Roberto
Vivo-Chaneton and Jose Antonio Ituarte his true and lawful attorney-in-fact
with each of Messrs.&nbsp;Chaneton and Ituarte having the authority, acting singly,
to execute in the name of each such person, and to file with the Securities and
Exchange Commission, together with any exhibits thereto and other documents
therewith, any and all amendments (including without limitation post-effective
amendments) to this registration statement necessary or advisable to enable the
registrant to comply with the Securities Act of 1933, as amended, and any
rules, regulations and requirements of the Securities and Exchange Commission
in respect thereof, which amendments may make such other changes in the
registration statement as the aforesaid attorney-in-fact executing the same
deems appropriate. Pursuant to the requirements of the Act, this registration
statement has been signed below by the following persons in the capacities and
on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="36%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top"><DIV style="margin-left:10px; text-indent:-10px">/s/ Roberto Vivo-Chaneton<BR>
<HR size="1" noshade>
Roberto Vivo-Chaneton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board and<BR>
Chief Executive Officer<BR>
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Jose Antonio Ituarte<BR>
<HR size="1" noshade>
Jose Antonio Ituarte</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief Financial Officer<BR>
(Principal Financial Officer and<BR>
Principal Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Carlos Bardasano<BR>
<HR size="1" noshade>
Carlos Bardasano</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Eric C. Neuman<BR>
<HR size="1" noshade>
Eric C. Neuman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Ana Teresa Arismendi<BR>
<HR size="1" noshade>
Ana Teresa Arismendi</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Frank Feather<BR>
<HR size="1" noshade>
Frank Feather</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ John A Gavin<BR>
<HR size="1" noshade>
John A Gavin</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Gabriel Montoya<BR>
<HR size="1" noshade>
Gabriel Montoya</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Jose Antonio Rios<BR>
<HR size="1" noshade>
Jose Antonio Rios</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="36%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Emilio Romano<BR>
<HR size="1" noshade>
Emilio Romano</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Marcos Clutterbuck<BR>
<HR size="1" noshade>
Marcos Clutterbuck</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Ricardo Verdaguer<BR>
<HR size="1" noshade>
Ricardo Verdaguer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Luis Villanueva<BR>
<HR size="1" noshade>
Luis Villanueva</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">March 16, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>EXHIBIT INDEX</B></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Memorandum of Association of Claxson Interactive Group Inc.
(incorporated herein by reference to the Registration Statement on Form&nbsp;F-4/A (No.
333-13062) filed with the Commission on August&nbsp;15, 2001).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Articles of Association of Claxson Interactive Group Inc.
(incorporated herein by reference to the Registration Statement on Form&nbsp;F-4/A (No.
333-13062) filed with the Commission on August&nbsp;15, 2001).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Claxson Interactive Group Inc. Amended and Restated 2001 Share Incentive Plan*</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Conyers, Dill &#038; Pearman*</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Holdco Agreement, dated September&nbsp;21, 2001, by and among 1947 PTVI, LLC, 1945
PTVI, LLC, Hicks, Muse, Tate &#038; Furst Latin America Fund, L.P., Hicks, Muse, Tate &#038;
Furst Latin America Private Fund, L.P., HMLA 1-SBS Coinvestors, L.P., Certain
Claxson Interactive Group, Inc. Stockholders and Claxson Interactive Group, Inc.
(incorporated herein by reference to the Annual Report on Form&nbsp;20-F filed with the
Commission on July&nbsp;15, 2003).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP*</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Conyers, Dill &#038; Pearman (contained in its opinion filed as Exhibit&nbsp;5.1
hereto)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (contained on the signature pages of this Registration Statement)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P>
<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">*Filed herewith.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">7
</DIV>


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Claxson Interactive Group, Inc.
Table of Contents
As filed with the
Securities and Exchange Commission on March 17, 2004
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
CLAXSON INTERACTIVE GROUP, INC.
(Exact name of registrant as specified in its charter)
British Virgin Islands
None
(State or other jurisdiction
of incorporation or organization)
(IRS Employer
Identification Number)
Avenida Melian 2752
C1430EYH Buenos Aires, Argentina
(Address of Principal Executive Offices
)
Claxson Interactive Group Inc. 2001 Share Incentive Plan
(Full title of the Plans)
CT Corporation System
111 Eighth Avenue
New York, NY 10011
(Name and address of agent for service)
(212) 894-8940
Telephone number, including area code, of agent for service
Copy to:
Paul Berkowitz, Esq.
Greenberg Traurig, P.A.
1221 Brickell Avenue
Miami, Florida 33131
(305) 579-0500
CALCULATION OF REGISTRATION FEE
Proposed number of
Proposed maximum
Proposed
Title of securities
shares to be
offering price
maximum aggregate
Amount of
to be registered
registered(1)
per share
offering price
registration fee
Class A Common Shares, $0.01 par value
930,000
(2
)
$
1,760,882
$
223.10
(1)
Pursuant to Rule 416 of the Securities Act of 1933, as amended (the
"Securities Act"), this registration statement shall also cover any
additional shares of our common stock which become issuable under Claxson
Interactive Group Inc. 2001 Share Incentive Plan (the "Plan") or by
reason of any stock dividend, stock split, recapitalization or other
similar transaction effected without the receipt of consideration which
results in an increase in the number of the outstanding shares of our
common stock.
(2)
Estimated solely for the purpose of calculating the registration fee in
accordance with Rule 457(h) of the Securities Act on the basis of: (i)
the exercise price of $0.738 with respect to options to purchase an
aggregate of 493,549 shares of common stock of the Registrant under the
Plan and (ii) the exercise price of $3.20 with respect to options to
purchase an aggregate of 436,451 shares of common stock of the Registrant
under the Plan.
TABLE OF CONTENTS
EXPLANATORY NOTE
PART I. INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
SIGNATURES
EX-4.3 Amended & Restated '01 Share Incentive Plan
EX-5.1 Opinion of Conyers Dill & Pearman
EX-23.1 Consent of Deloitte & Touche LLP
Table of Contents
EXPLANATORY NOTE
This registration statement covers the maximum number of shares of our
common stock that could be issued upon exercise of all outstanding options
under our 2001 Share Incentive Plan.
PART I. INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information specified by Items 1 and 2 of Part I of Form S-8 is
omitted from this filing in accordance with the provisions of Rule 428 of the
Securities Act of 1933, as amended (the "Securities Act"), and the introductory
Note to Part I of Form S-8.
The documents containing the information specified in Part I of Form S-8
will be sent or given to participating employees as specified by Rule 428(b) of
the Securities Act. Such documents and the documents incorporated by reference
herein pursuant to Item 3 of Part II hereof, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents, which have been filed with the Securities and
Exchange Commission (the "SEC"), are hereby incorporated by reference into this
registration statement:
(a)
Our Annual Report on Form 20-F for the fiscal year ended
December 31, 2002, filed with the SEC on July 15, 2003;
(b)
Our Current Reports on Form 6-K filed on September 5, 2003,
October 20, 2003, November 4, 2003 and December 1, 2003;
(c)
The description of our common stock contained in the proxy
statement/prospectus included as part of the Registration Statement
filed on Form F-4/A (Registration No. 333-13062) as filed with the
SEC on August 15, 2001, including all amendments or reports filed
for the purpose of updating such description; and
(d)
Our Form 8-A filed on September 5, 2001, pursuant to Section
12(g) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act").
In addition, all documents subsequently filed by the Registrant pursuant
to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing
of a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, will be
deemed to be incorporated herein by reference and to be a part of this
registration statement from the date of filing of such documents. Any
statement contained in a document incorporated herein by reference will be
deemed to be modified or superseded for purposes of this registration statement
to the extent that a statement contained herein, or in a subsequently filed
document incorporated herein by reference, modifies or supersedes the
statement. Any statement modified or superseded will not be deemed, except as
modified or superseded, to constitute a part of this registration statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
2
Table of Contents
Item 6. Indemnification of Directors and Officers.
Under British Virgin Islands law, every director and officer of Claxson,
in performing his or her functions, is required to act honestly and in good
faith with a view to the best interests of Claxson and exercise the care,
diligence and skill that a reasonably prudent person would exercise in
comparable circumstances. No provision in Claxson's memorandum and articles of
association or in any agreement entered into by Claxson relieves a director or
officer from the duty to act in accordance with Claxson's memorandum and
articles of association or, except as set forth below, from any personal
liability arising from his or her management of the business and affairs of
Claxson.
Claxson shall indemnify, to the fullest extent permitted by legislation,
any director or officer against all expenses, including legal fees, and against
all judgments, fines and amounts paid in settlement and reasonably incurred in
connection with legal, administrative or investigative proceedings. Claxson may
only indemnify a director or officer if the director or officer acted honestly
and in good faith with a view to the best interests of Claxson and, in the case
of criminal proceedings, the director or officer had no reasonable cause to
believe that his or her conduct was unlawful. The decision of the board of
directors as to whether the director or officer acted honestly and in good
faith with a view to the best interests of Claxson and as to whether the
director of officer had no reasonable cause to believe that his or her conduct
was unlawful is, in the absence of fraud, sufficient for the purposes of
indemnification, unless a question of law is involved. The termination of any
proceedings by any judgment, order, settlement, conviction or the entry of no
plea does not, by itself, create a presumption that a director of officer did
not act honestly and in good faith and with a view to the best interests of
Claxson or that the director or officer had reasonable cause to believe that
his or her conduct was unlawful. If a director or officer to be indemnified has
been successful in defense of any proceedings referred to above, the director
or officer is entitled to be indemnified against all expenses, including legal
fees, and against all judgments, fines and amounts paid in settlement and
reasonably incurred by the director or officer in connection with the
proceedings.
Claxson may purchase and maintain insurance in relation to any director or
officer against any liability asserted against the director or officer and
incurred by the director or officer in that capacity, whether or not Claxson
has or would have had the power to indemnify the director or officer against
the liability as provided in Claxson's memorandum and articles of association.
Pursuant to the combination agreement, dated as of October 30, 2000, among
us; Ibero-American Media Partners II, Ltd.; Carlyle Investments LLC and Carlton
Investments LLC (as assignees of Newhaven Overseas Corp.); Hicks, Muse, Tate &
Furst Latin America Fund, L.P.; Hicks, Muse, Tate & Furst Latin America Private
Fund, L.P.; HMLA 1-SBS Coinvestors, L.P.; and El Sitio, Inc., as amended (the
"combination agreement") under which El Sitio became our subsidiary and each
issued and outstanding common share of El Sitio was canceled and converted into
the right to receive one Class A common share of our common stock we agreed to
the following indemnification provisions:
•
Claxson will indemnify and hold harmless and advance expenses,
including legal fees, to El Sitio's present and former directors and
officers, against all liabilities for acts or omissions in those
capacities occurring at or prior to the completion of the
transaction, to the fullest extent permitted under applicable law;
and
•
For at least six years after the transaction is completed,
Claxson is required to maintain in effect El Sitio's existing
directors' and officers' liability insurance, or to provide insurance
containing terms and conditions which are not materially less
advantageous, covering matters or events occurring prior to
completion of the transaction. However, Claxson is not required to
pay an annual premium for this insurance in excess of 150% of the
annual premiums paid by El Sitio at the time of the transaction.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits
See "Exhibit Index" on page II-1 below.
Item 9. Undertakings
(a) The undersigned registrant hereby undertakes:
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(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act of 1933 (the "Securities Act");
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in the registration statement.
Notwithstanding the foregoing, any increase or decrease in volume of securities
offered (if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent more than a 20 percent change in the
maximum aggregate offering price set forth in the "Calculation of Registration
Fee" table in the effective registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply
if the information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed with or furnished to
the Commission by the Registrant pursuant to Section 13 or 15(d) of the
Exchange Act that are incorporated by reference in this registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act that is incorporated by reference in the registration statement
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the
Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Miami Beach, State of Florida on this 16 day of
March, 2004.
CLAXSON INTERACTIVE GROUP, INC.
By:
/s/ Roberto Vivo-Chaneton
Roberto Vivo-Chaneton
Chief Executive Officer
Each person whose signature appears below hereby appoints each of Roberto
Vivo-Chaneton and Jose Antonio Ituarte his true and lawful attorney-in-fact
with each of Messrs. Chaneton and Ituarte having the authority, acting singly,
to execute in the name of each such person, and to file with the Securities and
Exchange Commission, together with any exhibits thereto and other documents
therewith, any and all amendments (including without limitation post-effective
amendments) to this registration statement necessary or advisable to enable the
registrant to comply with the Securities Act of 1933, as amended, and any
rules, regulations and requirements of the Securities and Exchange Commission
in respect thereof, which amendments may make such other changes in the
registration statement as the aforesaid attorney-in-fact executing the same
deems appropriate. Pursuant to the requirements of the Act, this registration
statement has been signed below by the following persons in the capacities and
on the dates indicated.
Signature
Title
Date
/s/ Roberto Vivo-Chaneton
Roberto Vivo-Chaneton
Chairman of the Board and
Chief Executive Officer
(Principal Executive Officer)
March 16, 2004
/s/ Jose Antonio Ituarte
Jose Antonio Ituarte
Chief Financial Officer
(Principal Financial Officer and
Principal Accounting Officer)
March 16, 2004
/s/ Carlos Bardasano
Carlos Bardasano
Director
March 16, 2004
/s/ Eric C. Neuman
Eric C. Neuman
Director
March 16, 2004
/s/ Ana Teresa Arismendi
Ana Teresa Arismendi
Director
March 16, 2004
/s/ Frank Feather
Frank Feather
Director
March 16, 2004
/s/ John A Gavin
John A Gavin
Director
March 16, 2004
/s/ Gabriel Montoya
Gabriel Montoya
Director
March 16, 2004
/s/ Jose Antonio Rios
Jose Antonio Rios
Director
March 16, 2004
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Signature
Title
Date
/s/ Emilio Romano
Emilio Romano
Director
March 16, 2004
/s/ Marcos Clutterbuck
Marcos Clutterbuck
Director
March 16, 2004
/s/ Ricardo Verdaguer
Ricardo Verdaguer
Director
March 16, 2004
/s/ Luis Villanueva
Luis Villanueva
Director
March 16, 2004
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EXHIBIT INDEX
Exhibit
Number
Description
4.1
Amended and Restated Memorandum of Association of Claxson Interactive Group Inc.
(incorporated herein by reference to the Registration Statement on Form F-4/A (No.
333-13062) filed with the Commission on August 15, 2001).
4.2
Amended and Restated Articles of Association of Claxson Interactive Group Inc.
(incorporated herein by reference to the Registration Statement on Form F-4/A (No.
333-13062) filed with the Commission on August 15, 2001).
4.3
Claxson Interactive Group Inc. Amended and Restated 2001 Share Incentive Plan*
5.1
Opinion of Conyers, Dill & Pearman*
9.1
Holdco Agreement, dated September 21, 2001, by and among 1947 PTVI, LLC, 1945
PTVI, LLC, Hicks, Muse, Tate & Furst Latin America Fund, L.P., Hicks, Muse, Tate &
Furst Latin America Private Fund, L.P., HMLA 1-SBS Coinvestors, L.P., Certain
Claxson Interactive Group, Inc. Stockholders and Claxson Interactive Group, Inc.
(incorporated herein by reference to the Annual Report on Form 20-F filed with the
Commission on July 15, 2003).
23.1
Consent of Deloitte & Touche LLP*
23.2
Consent of Conyers, Dill & Pearman (contained in its opinion filed as Exhibit 5.1
hereto)
24.1
Power of Attorney (contained on the signature pages of this Registration Statement)
*Filed herewith.
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