U.S. Securities and Exchange Commission

                             Washington, D.C. 20549

                                    Form 8-K

                                 CURRENT REPORT

        Pursuant to Section 13 or 15(d) of the Securities Act of 1934

     Date of Report (Date of earliest event reported): September 29, 1999


                            Metro Global Media, Inc.
                            ------------------------
             (Exact name of registrant as specified in its charter)


    Delaware                         0-21634                    65-0025871
  -----------------------------------------------------------------------------
 (State or other jurisdiction      (Commission                (IRS Employer
 of incorporation)                 File Number)            Identification No.)

         1060 Park Avenue, Cranston, Rhode Island                    02910
         ------------------------------------------------------------------
       (Address of principal executive offices)                   (Zip Code)

                                (401) 942-7876
                                --------------
             (Registrant's telephone number, including area code)


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

<PAGE>


Item 2      Acquisition or Disposition of Assets

     On  September  29,  1999,   Metro  Global  Media,   Inc.  ("Metro  Global")
consummated the sale of its wholly-owned subsidiary Fanzine International,  Inc.
("Fanzine")  to Robert  Maiello,  Philip P.  Salvatore,  Bart Senior and Michael
Levine,  the  former  Fanzine  shareholders  (the  "Former  Shareholders"),  and
Goldtree Publishing,  Inc., a company controlled by them ("Goldtree"),  pursuant
to a Rescission and Purchase  Agreement,  dated September 29, 1999, by and among
Metro Global,  Metro,  Inc.,  Fanzine,  Goldtree,  and the Former  Shareholders.
Fanzine  operated  Metro Global's  publishing  segment and published a series of
monthly,  bi-monthly,  and  event-driven  magazines,  as well as  calendars  and
"how-to"  digest.  Metro Global acquired  Fanzine in July 1998 for $4 million in
cash and one million shares of Metro Global's common stock.

     As  consideration  for  this  sale of  Fanzine's  stock,  Metro  Global  is
scheduled  to receive  total  payments of $4.5  million and receive back the one
million shares of its common stock held by the Former  Shareholders.  Payment of
the $4.5 million is schedule to be paid as follows: $1 million is due by October
31, 1999;  $1 million is due by November 30, 1999;  $1 million is due by May 31,
2000; and $1.5 million is due by August 31, 2000.

Item 7    Financial Statements and Exhibits

          (b)  Pro forma financial information

               (1)  Pro forma  financial  statements  which  give  effect to the
                    disposition of Fanzine are currently unavailable. Registrant
                    plans to file the pro forma financial  statements  within 60
                    days.

          (c)  Exhibit 2.1 -  Rescission  and  Purchase  Agreement  by and among
               Metro Global Media,  Inc., Metro,  Inc.,  Fanzine  International,
               Inc.,  Goldtree  Publishing,  Inc.,  Robert  Maiello,  Philip  P.
               Salvatore, Bart Senior and Michael Levine.

               Exhibit 2.2 - Security  Agreement between Fanzine  International,
               Inc. and Metro Global Media, Inc.

               Exhibit 2.3 - Security  Agreement between Fanzine  International,
               Inc. and Metro Global Media, Inc.

               Exhibit  2.4 -  Promissory  Note  from  Robert  Maiello,  Michael
               Levine,  Bart  Senior and  Philip P.  Salvatore  to Metro  Global
               Media, Inc.

               Exhibit 2.5 - Promissory Note from Goldtree  Publishing,  Inc. to
               Metro Global Media, Inc.

               Exhibit 2.6 - Personal Guarantee of Michael Levine

               Exhibit 2.7 - Personal Guarantee of Robert Maiello

               Exhibit 2.8 - Personal Guarantee of Philip Salvatore

               Exhibit 2.9 - Personal Guarantee of Bart Senior


                                      2
<PAGE>


                                    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.

                                    METRO GLOBAL MEDIA, INC.


                                    By: /s/ Janet Hoey
                                    ------------------
                                            JANET HOEY,
                                            TREASURER

October 4, 1999

                                        3
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U.S. Securities and Exchange Commission

                             Washington, D.C. 20549

                                    Form 8-K

                                 CURRENT REPORT

        Pursuant to Section 13 or 15(d) of the Securities Act of 1934

     Date of Report (Date of earliest event reported): September 29, 1999

                            Metro Global Media, Inc.
                            ------------------------
             (Exact name of registrant as specified in its charter)

    Delaware                         0-21634                    65-0025871
  -----------------------------------------------------------------------------
 (State or other jurisdiction      (Commission                (IRS Employer
 of incorporation)                 File Number)            Identification No.)

         1060 Park Avenue, Cranston, Rhode Island                    02910
         ------------------------------------------------------------------
       (Address of principal executive offices)                   (Zip Code)

                                (401) 942-7876
                                --------------
             (Registrant's telephone number, including area code)

        -------------------------------------------------------------
        (Former name or former address, if changed since last report)
Item 2      Acquisition or Disposition of Assets

     On  September  29,  1999,   Metro  Global  Media,   Inc.  ("Metro  Global")
consummated the sale of its wholly-owned subsidiary Fanzine International,  Inc.
("Fanzine")  to Robert  Maiello,  Philip P.  Salvatore,  Bart Senior and Michael
Levine,  the  former  Fanzine  shareholders  (the  "Former  Shareholders"),  and
Goldtree Publishing,  Inc., a company controlled by them ("Goldtree"),  pursuant
to a Rescission and Purchase  Agreement,  dated September 29, 1999, by and among
Metro Global,  Metro,  Inc.,  Fanzine,  Goldtree,  and the Former  Shareholders.
Fanzine  operated  Metro Global's  publishing  segment and published a series of
monthly,  bi-monthly,  and  event-driven  magazines,  as well as  calendars  and
"how-to"  digest.  Metro Global acquired  Fanzine in July 1998 for $4 million in
cash and one million shares of Metro Global's common stock.

     As  consideration  for  this  sale of  Fanzine's  stock,  Metro  Global  is
scheduled  to receive  total  payments of $4.5  million and receive back the one
million shares of its common stock held by the Former  Shareholders.  Payment of
the $4.5 million is schedule to be paid as follows: $1 million is due by October
31, 1999;  $1 million is due by November 30, 1999;  $1 million is due by May 31,
2000; and $1.5 million is due by August 31, 2000.

Item 7    Financial Statements and Exhibits

          (b)  Pro forma financial information

               (1)  Pro forma  financial  statements  which  give  effect to the
                    disposition of Fanzine are currently unavailable. Registrant
                    plans to file the pro forma financial  statements  within 60
                    days.

          (c)  Exhibit 2.1 -  Rescission  and  Purchase  Agreement  by and among
               Metro Global Media,  Inc., Metro,  Inc.,  Fanzine  International,
               Inc.,  Goldtree  Publishing,  Inc.,  Robert  Maiello,  Philip  P.
               Salvatore, Bart Senior and Michael Levine.

               Exhibit 2.2 - Security  Agreement between Fanzine  International,
               Inc. and Metro Global Media, Inc.

               Exhibit 2.3 - Security  Agreement between Fanzine  International,
               Inc. and Metro Global Media, Inc.

               Exhibit  2.4 -  Promissory  Note  from  Robert  Maiello,  Michael
               Levine,  Bart  Senior and  Philip P.  Salvatore  to Metro  Global
               Media, Inc.

               Exhibit 2.5 - Promissory Note from Goldtree  Publishing,  Inc. to
               Metro Global Media, Inc.

               Exhibit 2.6 - Personal Guarantee of Michael Levine

               Exhibit 2.7 - Personal Guarantee of Robert Maiello

               Exhibit 2.8 - Personal Guarantee of Philip Salvatore

               Exhibit 2.9 - Personal Guarantee of Bart Senior

                                      2
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.

                                    METRO GLOBAL MEDIA, INC.

                                    By: /s/ Janet Hoey
                                    ------------------
                                            JANET HOEY,
                                            TREASURER

October 4, 1999

                                        3