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 31, 1996


                      MAGICWORKS ENTERTAINMENT INCORPORATED
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


                                    DELAWARE
--------------------------------------------------------------------------------
                 (State or other jurisdiction of incorporation)


        2-96614-D                                    87-0425513
-----------------------                   --------------------------------------
(Commission File Number)                  (IRS Employer Identification No.)


         930 WASHINGTON AVENUE, 5TH FLOOR
               MIAMI BEACH, FLORIDA                             33139
--------------------------------------------------------------------------------
     (Address of principal executive offices)                 (Zip Code)


Registrant's telephone number, including area code      (305) 532-1566


--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

<PAGE>



ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.

        On December 31, 1996, Magicworks Entertainment Incorporated, a Delaware
corporation (the "Registrant"), acquired all of the outstanding capital stock of
Space Agency Inc., a Utah corporation ("Space Agency"), pursuant to the merger
(the "Merger") of Space Agency with and into Magicspace Corporation
("Magicspace"), a newly-formed, wholly-owned subsidiary of the Registrant. The
Merger was consummated pursuant to that certain Agreement and Plan of Merger
dated December 31, 1996 (the "Merger Agreement") among the Registrant,
Magicspace, Space Agency and all of the stockholders of Space Agency (the "Space
Agency Stockholders"). A copy of the Merger Agreement is being filed as Exhibit
2.1 hereto. Magicspace was the surviving corporation in the Merger. Pursuant to
the Merger, each share of Space Agency common stock, par value $.50 per share,
was converted into the right to receive 118.81108 shares of common stock, $.001
par value ("Common Stock"), of the Registrant rounded to the nearest whole
number, resulting in the issuance of 1,320,001 shares of Common Stock to the
Space Agency Stockholders. As a result of the Merger, Space Agency became a
wholly-owned subsidiary of the Registrant. The number of shares issued by the
Registrant to the Space Agency Stockholders in the Merger was determined by
negotiation among the Registrant, Space Agency and the Space Agency
Stockholders.

                                      - 2 -
<PAGE>



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

       (a)   Financial statements

             It is currently impracticable to provide the financial statements
             required pursuant to Rule 3.05(b) of Regulation S-X prior to the
             due date of this Report. This Report will be amended within 60 days
             of the date this Report is filed to include such financial
             statements.

       (b)   Pro forma financial information

             It is currently impracticable to provide the pro forma financial
             information required pursuant to Article 11 of Regulation S-X prior
             to the due date of this Report. This Report will be amended within
             60 days of the date this Report is filed to include such pro forma
             financial information.

       (c)   Exhibits.

       2.1   Agreement and Plan of Merger, dated December 31, 1996, by and among
             the Registrant, Magicspace, Space Agency and the Space Agency
             Stockholders

       2.2   Plan and Articles of Merger of Space Agency with and into
             Magicspace, as filed with the Secretary of State of the State of
             Florida

                                      - 3 -
<PAGE>



                                   SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.

                                       MAGICWORKS ENTERTAINMENT
                                       INCORPORATED



Dated: January __, 1997                By:/s/ Brad Krassner
                                          -----------------------------------
                                           Brad Krassner, Co-Chairman of the
                                           Board of Directors and Chief
                                           Executive Officer
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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)  December 31, 1996

                      MAGICWORKS ENTERTAINMENT INCORPORATED
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    DELAWARE
--------------------------------------------------------------------------------
                 (State or other jurisdiction of incorporation)

        2-96614-D                                    87-0425513
-----------------------                   --------------------------------------
(Commission File Number)                  (IRS Employer Identification No.)

         930 WASHINGTON AVENUE, 5TH FLOOR
               MIAMI BEACH, FLORIDA                             33139
--------------------------------------------------------------------------------
     (Address of principal executive offices)                 (Zip Code)

Registrant's telephone number, including area code      (305) 532-1566

--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.

        On December 31, 1996, Magicworks Entertainment Incorporated, a Delaware
corporation (the "Registrant"), acquired all of the outstanding capital stock of
Space Agency Inc., a Utah corporation ("Space Agency"), pursuant to the merger
(the "Merger") of Space Agency with and into Magicspace Corporation
("Magicspace"), a newly-formed, wholly-owned subsidiary of the Registrant. The
Merger was consummated pursuant to that certain Agreement and Plan of Merger
dated December 31, 1996 (the "Merger Agreement") among the Registrant,
Magicspace, Space Agency and all of the stockholders of Space Agency (the "Space
Agency Stockholders"). A copy of the Merger Agreement is being filed as Exhibit
2.1 hereto. Magicspace was the surviving corporation in the Merger. Pursuant to
the Merger, each share of Space Agency common stock, par value $.50 per share,
was converted into the right to receive 118.81108 shares of common stock, $.001
par value ("Common Stock"), of the Registrant rounded to the nearest whole
number, resulting in the issuance of 1,320,001 shares of Common Stock to the
Space Agency Stockholders. As a result of the Merger, Space Agency became a
wholly-owned subsidiary of the Registrant. The number of shares issued by the
Registrant to the Space Agency Stockholders in the Merger was determined by
negotiation among the Registrant, Space Agency and the Space Agency
Stockholders.

                                      - 2 -
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

       (a)   Financial statements

             It is currently impracticable to provide the financial statements
             required pursuant to Rule 3.05(b) of Regulation S-X prior to the
             due date of this Report. This Report will be amended within 60 days
             of the date this Report is filed to include such financial
             statements.

       (b)   Pro forma financial information

             It is currently impracticable to provide the pro forma financial
             information required pursuant to Article 11 of Regulation S-X prior
             to the due date of this Report. This Report will be amended within
             60 days of the date this Report is filed to include such pro forma
             financial information.

       (c)   Exhibits.

       2.1   Agreement and Plan of Merger, dated December 31, 1996, by and among
             the Registrant, Magicspace, Space Agency and the Space Agency
             Stockholders

       2.2   Plan and Articles of Merger of Space Agency with and into
             Magicspace, as filed with the Secretary of State of the State of
             Florida

                                      - 3 -
SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.

                                       MAGICWORKS ENTERTAINMENT
                                       INCORPORATED

Dated: January __, 1997                By:/s/ Brad Krassner
                                          -----------------------------------
                                           Brad Krassner, Co-Chairman of the
                                           Board of Directors and Chief
                                           Executive Officer