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): July 28, 1997

                       ASCENT ENTERTAINMENT GROUP, INC.
            (Exact name of registrant as specified in its charter)


   Delaware                               0-27192           52-1930707
(State or other jurisdiction of          (Commission       (I.R.S. Employer
incorporation or organization)            File No.)         Identification No.)


                              One Tabor Center
                      1200 Seventeenth Street, Suite 2800
                            Denver, Colorado  80202
                   (Address of principal executive offices)

                                (303) 626-7000
             (Registrant's telephone number, including area code)



<PAGE>


Item 5.     Other Events

      On July 28,  1997,  Ascent  Entertainment  Group,  Inc.  ("Ascent"  or the
"Company")  issued a press release  reporting its second  quarter 1997 financial
results. A copy of the release is attached hereto as Exhibit 20 and incorporated
herein by reference.

      In addition,  in a teleconference  call with investors on July 28, 1997 to
discuss the attached  press  release,  Ascent also  discussed  the  distribution
agreements for the film,  Air Force One,  which was produced by Ascent's  wholly
owned  subsidiary,   Beacon  Communications  Corp.  ("Beacon").   As  previously
disclosed  in  Ascent's  Annual  Report on Form 10-K for 1996,  Air Force One is
being distributed domestically pursuant to Beacon's development,  production and
domestic distribution agreement with Sony Pictures Entertainment, Inc. ("Sony"),
and it is being distributed  internationally pursuant to Beacon's agreement with
Buena  Vista  International,  Inc.,  a  division  of  the  Walt  Disney  Company
("Disney").  Pursuant to the domestic distribution agreement with Sony, Sony and
Beacon  co-financed  approximately  one-half of the total production cost of the
film and  Beacon and Sony will share in all  domestic  revenues  subject to Sony
recouping  its  releasing  expenses,  certain  overhead  expenses  and a nominal
distribution  fee.  Pursuant to the  international  distribution  agreement with
Disney,  Disney advanced a majority of the total production cost of the film and
is entitled to charge a modest  distribution fee, and recoup its advance and its
international  releasing  expenses,  after which Beacon retains the remainder of
the international  revenues subject to the  participation  interests of Harrison
Ford and Wolfgang  Peterson.  In addition,  Beacon has retained the copyright to
the film and pursuant to the foregoing  distribution  agreements Sony's domestic
distribution rights for the film continue until the later of 14 years or the end
of the film's second television syndication cycle (but in no event later than 23
years) and Disney's foreign distribution rights continue in perpetuity.

      After describing the distribution  agreements,  on the teleconference call
Ascent  discussed  a model  that  could be used to  estimate  Ascent's  possible
financial results from the film. This proprietary model incorporates assumptions
based on historical  trends and  confidential  terms of the domestic and foreign
distribution  agreements  for the film to estimate  total  domestic  and foreign
theatrical, video, pay and network television and other revenues based solely on
the reported amounts of gross domestic box office  receipts.  The assumptions in
the model are confidential and proprietary, were developed specifically for this
film,  would not be  applicable  to any other film and were not disclosed in the
teleconference call.

      Based on the model,  Ascent  stated that it could  estimate  that it would
eventually  receive  sufficient  revenues  from all sources to break even on its
investment  in the film if the film  achieved  domestic  box office  receipts of
approximately $70 million.  In other words,  domestic box office receipts of $70
million  would be indicative  that eventual  revenues to Ascent from all sources
would allow Ascent to recoup its  investment  in the film.  Furthermore,  Ascent
stated that, based on the model, eventual revenues to Ascent from all sources in
excess of Ascent's  investment  in the film could be estimated as  approximately
40% of domestic box office  receipts in excess of $70 million.  For example,  if
the film were to reach $100  million in domestic  box office  receipts,  then an
estimate  of the  eventual  revenues  to Ascent  from all  sources  in excess of
Ascent's  investment would be approximately 40% of $30 million, or approximately
$12 million.


      The  estimates   contained  in  the  preceding   paragraph  are  based  on
proprietary and confidential assumptions which management of Ascent believes are
reasonable,  but  there  can be no  assurance  that  these  assumptions  will be
accurate. To the contrary, certain of the assumptions are based on entertainment
and economic  trends  which are subject to change and cannot be  predicted  with
certainty.  Actual  results  can and  will  vary  from  those  described  in the
preceding paragraph, and may vary materially.

Item 7.     Financial Statements and Exhibits

       (c) Exhibits  (listed  according to the number  assigned in Item 601 of
Regulation (S-K).


       Exhibit No.                                   Description

            20                            Press Release dated July 28, 1997



Some of the  statements  in this  Form 8-K are  forward-looking  and  relate  to
anticipated future operating results.  Forward-looking statements are based upon
Ascent's  management's current assumptions,  which may be affected by subsequent
developments  and  business  conditions,   and  necessarily  involve  risks  and
uncertainties.  Therefore,  there can be no assurance that actual future results
will not differ  materially from  anticipated  results.  Readers should refer to
Ascent's  other  disclosure  documents  filed with the  Securities  and Exchange
Commission,  including the  Company's  Annual Report on Form 10-K for the fiscal
year ended  December 31, 1996 and  Quarterly  Report on Form 10-Q for the fiscal
quarter ended March 31, 1997,  for specific  details on some of the factors that
may affect operating results.



<PAGE>



                                    SIGNATURES

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

                         Ascent Entertainment Group, Inc.



                              By:/s/ Arthur M. Aaron
                                 Arthur M. Aaron
                    Vice President, Business and Legal Affairs

Date: July 29, 1997


<PAGE>



                                 Exhibit Index


    Exhibit No.                              Description

         20                           Press Release of Ascent Entertainment  
                                      Group, Inc. dated July 28, 1997










<PAGE>



                                   EXHIBIT 20


     Ascent Entertainment  Reports Record 2nd Quarter EBITDA & 56 Percent Higher
Revenues

                    "Air Force One" Breaks Several Box Office Records


For Release 7:30 a.m. NYT
Monday, July 28, 1998

Contact: Media:               Media & Analysts:       Analysts
         Paul Jacobson        Karen Amrhine           Jim Cronin
         Ascent               Sard, Verbinnen         Ascent
         (303) 626-7060       (212) 687-8080          (303) 626-7010

Denver,  Colo. Ascent  Entertainment  Group, Inc.  (NASDAQ:GOAL)  today reported
second quarter  earnings before interest,  taxes,  depreciation and amortization
(EBITDA)  of $16.4  million,  a record  amount  and an  increase  of 80  percent
compared to $9.1 million for the second quarter of 1996. Revenues for the second
quarter  1997 were a $87.6  million,  up 56  percent  from 1996  second  quarter
revenues of $56.0 million.  The company  reported a net loss for the 1997 second
quarter of $9.8 million, or $0.33 per common share,  compared with a net loss of
$6.3 million, or $0.21 per common share, for the second quarter of 1996.

"A solid quarter  --Ascent  generated  record EBITDA and strong  revenue  growth
during the quarter," said Charlie Lyons,  chairman and CEO of Ascent. "Now, with
the spin off from COMSAT  complete,  Ascent  will  sharpen its focus on creating
shareholder  value.  The integration of  SpectraVision  is on course and our new
feature film Air Force One has been  launched and already set several box office
records."

Air  Force  One,   starring  Harrison  Ford  and  produced  by  Ascent's  Beacon
Communications, opened Friday and led the weekend domestic box office by earning
$37.1 million, the biggest opening ever for an R-rated movie. Additionally,  Air
Force  One is the  biggest  opening  ever for the  second  half  (July 4 weekend
onward) of the summer  movie-going  season and is the biggest  opening  ever for
Harrison  Ford.  Revenues from Air Force One will not begin to be reported until
the third quarter of 1997.

The increase in second  quarter  revenues was due to a larger room  installation
base at Ascent's 57 percent-owned On Command  Corporation,  resulting  primarily
from the  acquisition  of  SpectraVision,  Inc.  assets  in  October  1996.  The
quarter-to-quarter EBITDA increase is attributable to On Command and an improved
EBITDA  margin  at the  Colorado  Avalanche.  The  increase  in the net  loss is
primarily due to increased  losses incurred at On Command and the Denver Nuggets
and an increase in financing costs at both On Command and Ascent.


MultiMedia Distribution
Second  quarter  1997  revenues  for this  segment,  which  includes  On Command
Corporation and Ascent Network Services,  were $61.2 million, up 69 percent from
$36.3 million in the  comparable  1996 quarter.  Second  quarter EBITDA for this
segment  was $18.7  million,  up 24  percent  from  $15.1  million in the second
quarter of 1996.  The  segment  reported an  operating  loss for the 1997 second
quarter of $3.4 million  compared to an operating  profit of $1.9 million in the
second quarter of 1996.

Revenues  increased due to a higher installed room base at On Command  resulting
primarily from the  acquisition  of  SpectraVision,  Inc.  assets as well as the
continued  growth of the On Command Video (OCV) room base.  Movie  revenues from
the  SpectraVision  acquired  assets were $20.1 million in the second quarter of
1997. The increase in the operating  loss in the second quarter is  attributable
to increased  depreciation  expense due to the significant capital  expenditures
made by OCV during the past 12 months as it increased its room base, an increase
in  depreciation   relating  to  the   SpectraVision   in-room  assets  and  the
amortization of goodwill arising from the SpectraVision transaction.

As of June 30, 1997, On Command's room installation base was 921,000.  The total
number of  on-demand  rooms was 733,000.  The number of  scheduled  pay-per-view
rooms was 188,000.  One year earlier,  On Command had total  installed  rooms of
419,000, consisting entirely of OCV's on-demand rooms. Shortly after the quarter
ended,  On Command sold  contracts to provide  guest  services in  approximately
70,000 hotel rooms to Skylink Cinema Corporation. All of the rooms sold were not
sufficiently  compatible with On Command's target hotel profile.  Although there
will be a modest  revenue  decrease  in the third  quarter,  On Command  expects
operating  profitability  to increase as a result of the sale and the conversion
of satellite-delivered pay-per-view to less expensive land based systems.


Entertainment
Second  quarter 1997 revenues for this segment,  which includes the NHL Colorado
Avalanche,  the NBA Denver  Nuggets  and  Beacon  Communications,  increased  34
percent to $26.4  million from $19.7  million in the second  quarter of 1996. In
the second  quarter of 1997 Beacon  received  revenue of $6.8  million  from the
delivery of the motion  picture  Playing God to its  distributors.  In addition,
while  the  Colorado   Avalanche   realized   increased   revenues   from  their
participation in the 1997 Stanley Cup playoffs in spite of two less home playoff
games, these increases were substantially  offset by declining revenues from the
Denver  Nuggets,  primarily  due to a decrease in  attendance  and two less home
games during the quarter  compared to the same period last year.  The  segment's
operating  loss of $4.2 million for the 1997 second  quarter  compares to a $6.0
million loss in the second quarter of 1996.  This decreased loss is attributable
to an improvement in the operating  margins from the Avalanche  partially offset
by an increase in  operating  losses at the Nuggets  which are  attributable  to
higher operating costs and lower revenues.


Ascent Consolidated
Interest  expense for the second  quarter of 1997 was $5.6  million  compared to
$2.0 million in the second quarter of 1996. This increase is attributable to the
additional  borrowings  incurred  during  1996  and the  first  half of 1997 for
capital expenditures,  investment requirements (primarily the assumption of debt
in the SpectraVision  transaction) and the funding of operating  requirements of
Ascent and its subsidiaries.  In conjunction with the SpectraVision transaction,
Ascent  Entertainment  and On Command each obtained new credit  facilities  that
were subsequently  amended in March of 1997 to modify certain  provisions of the
facilities.

Ascent's  effective tax benefit rate in the second  quarter of 1997 decreased to
15 percent as compared  to an  effective  tax benefit  rate of 30 percent in the
second quarter of 1996. This decline in the company's effective tax benefit rate
is primarily due to the losses  incurred by On Command during the second quarter
of 1997, in which no tax benefit was recognized due to  uncertainties  regarding
On Command's ability to realize a portion of the benefits associated with future
deductible  temporary  differences  (deferred tax assets) and net operating loss
carry forwards prior to their expiration.


Cash and Liquidity
Cash and  cash  equivalents  increased  $4.8  million  in the  quarter  to $14.8
million. Bank borrowings under the $140.0 million Ascent credit facility and the
$150.0 million On Command credit  facility have increased $33.0 million in total
since year end 1996 to a total of $226.0 million at June 30, 1997, primarily due
to continued  capital  expenditures at On Command to support business growth and
for  the  operating   requirements  of  Ascent.  If  Ascent  does  not  commence
construction  on the proposed Denver arena project prior to August 31, 1997, the
Ascent  credit  facility will be in default.  In addition,  the Company may only
renew the Ascent credit  facility for an additional  two years beyond October 9,
1997 if, before that date,  Ascent has received  $50.0  million in  subordinated
debt financing.  Although Ascent  management  believes  progress in negotiations
with the City and County of Denver on the Denver  arena  project  has been made,
Ascent will not be able to break ground by August 31, 1997. Ascent is continuing
discussions  with its lenders to obtain an  extension  of time past August 31 by
which it would need to commence  construction on the arena.  Although management
believes these  discussions will be successful,  there can be no assurances that
other  contingencies will not arise which could impact Ascent's ability to reach
final  agreements  with its  lenders  and  obtain  the  additional  subordinated
financing  or that such  financing  will be  available  on terms  acceptable  to
Ascent.


Other
On June 27,  1997,  COMSAT  Corporation  completed  the  spin-off of Ascent as a
tax-free  dividend to its shareholders.  The spin-off was intended,  among other
things,  to afford Ascent more  flexibility  in obtaining debt financing to meet
its growing needs without regard to certain capital structure and debt financing
restrictions  imposed by COMSAT. As a result,  Ascent's  financial  leverage may
increase in the future subject to the  resolution of the bank  financing  issues
discussed  above. In addition,  pursuant to the distribution  agreement  between
Ascent and COMSAT which governs the transaction,  certain restrictions have been
put in  place  to  protect  the  tax-free  status  of the  spin-off.  Among  the
restrictions,  Ascent  will not be allowed to sell or  otherwise  issue stock or
instruments  convertible  into stock of Ascent  until one year after the date of
the spin-off.

As a result of the spin-off,  Ascent is no longer part of COMSAT's  consolidated
tax group and,  accordingly,  Ascent may be unable to recognize tax benefits and
will not receive cash payments from COMSAT  resulting from Ascent's  anticipated
operating losses during the second half of 1997.

Ascent  Entertainment  Group's  principal  business  is  providing  pay-per-view
entertainment  and information  services through its 57 percent-owned On Command
Corporation.  In  addition,  Ascent is involved  in other  entertainment-related
businesses  including  ownership and operation of the NBA Denver Nuggets and NHL
Colorado Avalanche,  and Beacon Communications,  a motion picture and television
production company.

Some of the  statements in this news release are  forward-looking  and relate to
anticipated  future operating results.  Forward-looking  statements are based on
Ascent management's current expectations and assumptions,  which may be affected
by subsequent  developments  and business  conditions,  and necessarily  involve
risks and uncertainties. Therefore, there can be no assurance that actual future
results will not differ materially from anticipated results.

Readers should refer to Ascent's disclosure  documents filed with the Securities
and Exchange  Commission,  including the  company's  1996 form 10-K and the form
10-Q for the first  quarter of 1997 for specific  details on some of the factors
that may affect operating results.
                                           ###

For a menu of Ascent  Entertainment  Group's news  releases  available by fax 24
hours (no charge) or to retrieve a specific release, please call 1-800-758-5804,
ext. 152850, or access the address http://www.prnewswire.com on the internet.



<PAGE>

<TABLE>

                        ASCENT ENTERTAINMENT GROUP, INC.
                     CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                    UNAUDITED
                (Dollar amounts in millions, except per share information)

<CAPTION>

                                    Three Months Ended      Six Months Ended
                                          June 30,                June 30,
                                    1997        1996        1997        1996
<S>                                 <C>         <C>         <C>         <C>    

Revenues                            $87.6       $56.0       $177.5      $128.4

Operating expenses                   71.2        46.9        159.2       107.5
Depreciation and amortization        25.2        16.0         50.6        31.7

Loss from operations                 (8.8)       (6.9)       (32.3)      (10.8)

Interest expense                     (5.6)       (2.0)       (10.2)       (3.6)
Other income (expense), net           0.2         0.1          0.4        (0.2)

Loss before taxes
      and minority interest         (14.2)       (8.8)       (42.1)      (14.6)

Income tax benefit                    2.1         2.6          7.3         4.4

Loss before minority interest       (12.1)       (6.2)       (34.8)      (10.2)


Minority interest in (income)
      loss of subsidiary              2.3        (0.1)         7.4        (0.3)

Net loss                            ($9.8)      ($6.3)      ($27.4)     ($10.5)


EBITDA                              $16.4        $9.1        $18.3       $20.9


Net loss per common share           ($0.33)     ($0.21)      ($0.92)     ($0.35)

EBITDA per share                     $0.55       $0.31        $0.62       $0.70

Weighted average number               29.8        29.8         29.8        29.8
      of common shares
      outstanding

</TABLE>




<PAGE>

<TABLE>


                        ASCENT ENTERTAINMENT GROUP, INC.
                             SELECTED FINANCIAL DATA
                                    UNAUDITED
                   (Dollar amounts in millions, except for rooms data)

<CAPTION>

                                      Three Months Ended      Six Months Ended
                                            June 30,                June 30,
                                     1997        1996        1997        1996
<S>                                  <C>         <C>         <C>         <C>     

REVENUES:
      Multimedia Distribution       $61.2       $36.3       $118.3      $ 71.5
Entertainment                        26.4        19.7         59.2        56.9
            Total                   $87.6       $56.0       $177.5      $128.4


EBITDA:
      Multimedia Distribution       $18.7       $15.1        $30.4       $29.8
      Entertainment                  (1.1)       (3.2)        (8.9)       (3.9)
      General & Administrative       (1.2)       (2.8)        (3.2)       (5.0)
            Total                   $16.4        $9.1        $18.3       $20.9


OPERATING INCOME (LOSS):
      Multimedia Distribution       ($3.4)       $1.9       ($13.1)       $4.1)
      Entertainment                  (4.2)       (6.0)      ($16.0)       (9.9)
      General & Administrative       (1.2)       (2.8)        (3.2)       (5.0)
            Total                   ($8.8)      ($6.9)      ($32.3)     ($10.8)


Other Data (at end of period):
      Total Number of Guest-pay rooms
            On-demand                                       733,000     419,000
            Schedule only                                   188,000           0
                                                            921,000     419,000


                                                            June 30,    Dec. 31,
                                                            1997        1996
Balance Sheet Data:
      Total Debt Outstanding                                $226.0      $193.0


</TABLE>
[{"type": "8-K", "sequence": "1", "description": "8-K", "secsgml_size_bytes": 22805}]
{"company-data": {"conformed-name": "ASCENT ENTERTAINMENT GROUP INC", "cik": "0001002666", "assigned-sic": "4841", "irs-number": "521930707", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27192", "film-number": "97646968"}, "business-address": {"street1": "1200 SEVENTEENTH STREET", "street2": "SUITE 2800", "city": "DENVER", "state": "CO", "zip": "80202", "phone": "(303)626-7000"}, "mail-address": {"street1": "1200 SEVENTEENTH ST", "street2": "SUITE 2800", "city": "DENVER", "state": "CO", "zip": "80202"}, "former-company": {"former-conformed-name": "COMSAT ENTERTAINMENT GROUP INC", "date-changed": "19951025"}}
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): July 28, 1997

                       ASCENT ENTERTAINMENT GROUP, INC.
            (Exact name of registrant as specified in its charter)

   Delaware                               0-27192           52-1930707
(State or other jurisdiction of          (Commission       (I.R.S. Employer
incorporation or organization)            File No.)         Identification No.)

                              One Tabor Center
                      1200 Seventeenth Street, Suite 2800
                            Denver, Colorado  80202
                   (Address of principal executive offices)

                                (303) 626-7000
             (Registrant's telephone number, including area code)
Item 5.     Other Events

      On July 28,  1997,  Ascent  Entertainment  Group,  Inc.  ("Ascent"  or the
"Company")  issued a press release  reporting its second  quarter 1997 financial
results. A copy of the release is attached hereto as Exhibit 20 and incorporated
herein by reference.

      In addition,  in a teleconference  call with investors on July 28, 1997 to
discuss the attached  press  release,  Ascent also  discussed  the  distribution
agreements for the film,  Air Force One,  which was produced by Ascent's  wholly
owned  subsidiary,   Beacon  Communications  Corp.  ("Beacon").   As  previously
disclosed  in  Ascent's  Annual  Report on Form 10-K for 1996,  Air Force One is
being distributed domestically pursuant to Beacon's development,  production and
domestic distribution agreement with Sony Pictures Entertainment, Inc. ("Sony"),
and it is being distributed  internationally pursuant to Beacon's agreement with
Buena  Vista  International,  Inc.,  a  division  of  the  Walt  Disney  Company
("Disney").  Pursuant to the domestic distribution agreement with Sony, Sony and
Beacon  co-financed  approximately  one-half of the total production cost of the
film and  Beacon and Sony will share in all  domestic  revenues  subject to Sony
recouping  its  releasing  expenses,  certain  overhead  expenses  and a nominal
distribution  fee.  Pursuant to the  international  distribution  agreement with
Disney,  Disney advanced a majority of the total production cost of the film and
is entitled to charge a modest  distribution fee, and recoup its advance and its
international  releasing  expenses,  after which Beacon retains the remainder of
the international  revenues subject to the  participation  interests of Harrison
Ford and Wolfgang  Peterson.  In addition,  Beacon has retained the copyright to
the film and pursuant to the foregoing  distribution  agreements Sony's domestic
distribution rights for the film continue until the later of 14 years or the end
of the film's second television syndication cycle (but in no event later than 23
years) and Disney's foreign distribution rights continue in perpetuity.

      After describing the distribution  agreements,  on the teleconference call
Ascent  discussed  a model  that  could be used to  estimate  Ascent's  possible
financial results from the film. This proprietary model incorporates assumptions
based on historical  trends and  confidential  terms of the domestic and foreign
distribution  agreements  for the film to estimate  total  domestic  and foreign
theatrical, video, pay and network television and other revenues based solely on
the reported amounts of gross domestic box office  receipts.  The assumptions in
the model are confidential and proprietary, were developed specifically for this
film,  would not be  applicable  to any other film and were not disclosed in the
teleconference call.

      Based on the model,  Ascent  stated that it could  estimate  that it would
eventually  receive  sufficient  revenues  from all sources to break even on its
investment  in the film if the film  achieved  domestic  box office  receipts of
approximately $70 million.  In other words,  domestic box office receipts of $70
million  would be indicative  that eventual  revenues to Ascent from all sources
would allow Ascent to recoup its  investment  in the film.  Furthermore,  Ascent
stated that, based on the model, eventual revenues to Ascent from all sources in
excess of Ascent's  investment  in the film could be estimated as  approximately
40% of domestic box office  receipts in excess of $70 million.  For example,  if
the film were to reach $100  million in domestic  box office  receipts,  then an
estimate  of the  eventual  revenues  to Ascent  from all  sources  in excess of
Ascent's  investment would be approximately 40% of $30 million, or approximately
$12 million.

      The  estimates   contained  in  the  preceding   paragraph  are  based  on
proprietary and confidential assumptions which management of Ascent believes are
reasonable,  but  there  can be no  assurance  that  these  assumptions  will be
accurate. To the contrary, certain of the assumptions are based on entertainment
and economic  trends  which are subject to change and cannot be  predicted  with
certainty.  Actual  results  can and  will  vary  from  those  described  in the
preceding paragraph, and may vary materially.

Item 7.     Financial Statements and Exhibits

       (c) Exhibits  (listed  according to the number  assigned in Item 601 of
Regulation (S-K).

       Exhibit No.                                   Description

            20                            Press Release dated July 28, 1997

Some of the  statements  in this  Form 8-K are  forward-looking  and  relate  to
anticipated future operating results.  Forward-looking statements are based upon
Ascent's  management's current assumptions,  which may be affected by subsequent
developments  and  business  conditions,   and  necessarily  involve  risks  and
uncertainties.  Therefore,  there can be no assurance that actual future results
will not differ  materially from  anticipated  results.  Readers should refer to
Ascent's  other  disclosure  documents  filed with the  Securities  and Exchange
Commission,  including the  Company's  Annual Report on Form 10-K for the fiscal
year ended  December 31, 1996 and  Quarterly  Report on Form 10-Q for the fiscal
quarter ended March 31, 1997,  for specific  details on some of the factors that
may affect operating results.
SIGNATURES

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

                         Ascent Entertainment Group, Inc.

                              By:/s/ Arthur M. Aaron
                                 Arthur M. Aaron
                    Vice President, Business and Legal Affairs

Date: July 29, 1997
Exhibit Index

    Exhibit No.                              Description

         20                           Press Release of Ascent Entertainment  
                                      Group, Inc. dated July 28, 1997
EXHIBIT 20

     Ascent Entertainment  Reports Record 2nd Quarter EBITDA & 56 Percent Higher
Revenues

                    "Air Force One" Breaks Several Box Office Records

For Release 7:30 a.m. NYT
Monday, July 28, 1998

Contact: Media:               Media & Analysts:       Analysts
         Paul Jacobson        Karen Amrhine           Jim Cronin
         Ascent               Sard, Verbinnen         Ascent
         (303) 626-7060       (212) 687-8080          (303) 626-7010

Denver,  Colo. Ascent  Entertainment  Group, Inc.  (NASDAQ:GOAL)  today reported
second quarter  earnings before interest,  taxes,  depreciation and amortization
(EBITDA)  of $16.4  million,  a record  amount  and an  increase  of 80  percent
compared to $9.1 million for the second quarter of 1996. Revenues for the second
quarter  1997 were a $87.6  million,  up 56  percent  from 1996  second  quarter
revenues of $56.0 million.  The company  reported a net loss for the 1997 second
quarter of $9.8 million, or $0.33 per common share,  compared with a net loss of
$6.3 million, or $0.21 per common share, for the second quarter of 1996.

"A solid quarter  --Ascent  generated  record EBITDA and strong  revenue  growth
during the quarter," said Charlie Lyons,  chairman and CEO of Ascent. "Now, with
the spin off from COMSAT  complete,  Ascent  will  sharpen its focus on creating
shareholder  value.  The integration of  SpectraVision  is on course and our new
feature film Air Force One has been  launched and already set several box office
records."

Air  Force  One,   starring  Harrison  Ford  and  produced  by  Ascent's  Beacon
Communications, opened Friday and led the weekend domestic box office by earning
$37.1 million, the biggest opening ever for an R-rated movie. Additionally,  Air
Force  One is the  biggest  opening  ever for the  second  half  (July 4 weekend
onward) of the summer  movie-going  season and is the biggest  opening  ever for
Harrison  Ford.  Revenues from Air Force One will not begin to be reported until
the third quarter of 1997.

The increase in second  quarter  revenues was due to a larger room  installation
base at Ascent's 57 percent-owned On Command  Corporation,  resulting  primarily
from the  acquisition  of  SpectraVision,  Inc.  assets  in  October  1996.  The
quarter-to-quarter EBITDA increase is attributable to On Command and an improved
EBITDA  margin  at the  Colorado  Avalanche.  The  increase  in the net  loss is
primarily due to increased  losses incurred at On Command and the Denver Nuggets
and an increase in financing costs at both On Command and Ascent.

MultiMedia Distribution
Second  quarter  1997  revenues  for this  segment,  which  includes  On Command
Corporation and Ascent Network Services,  were $61.2 million, up 69 percent from
$36.3 million in the  comparable  1996 quarter.  Second  quarter EBITDA for this
segment  was $18.7  million,  up 24  percent  from  $15.1  million in the second
quarter of 1996.  The  segment  reported an  operating  loss for the 1997 second
quarter of $3.4 million  compared to an operating  profit of $1.9 million in the
second quarter of 1996.

Revenues  increased due to a higher installed room base at On Command  resulting
primarily from the  acquisition  of  SpectraVision,  Inc.  assets as well as the
continued  growth of the On Command Video (OCV) room base.  Movie  revenues from
the  SpectraVision  acquired  assets were $20.1 million in the second quarter of
1997. The increase in the operating  loss in the second quarter is  attributable
to increased  depreciation  expense due to the significant capital  expenditures
made by OCV during the past 12 months as it increased its room base, an increase
in  depreciation   relating  to  the   SpectraVision   in-room  assets  and  the
amortization of goodwill arising from the SpectraVision transaction.

As of June 30, 1997, On Command's room installation base was 921,000.  The total
number of  on-demand  rooms was 733,000.  The number of  scheduled  pay-per-view
rooms was 188,000.  One year earlier,  On Command had total  installed  rooms of
419,000, consisting entirely of OCV's on-demand rooms. Shortly after the quarter
ended,  On Command sold  contracts to provide  guest  services in  approximately
70,000 hotel rooms to Skylink Cinema Corporation. All of the rooms sold were not
sufficiently  compatible with On Command's target hotel profile.  Although there
will be a modest  revenue  decrease  in the third  quarter,  On Command  expects
operating  profitability  to increase as a result of the sale and the conversion
of satellite-delivered pay-per-view to less expensive land based systems.

Entertainment
Second  quarter 1997 revenues for this segment,  which includes the NHL Colorado
Avalanche,  the NBA Denver  Nuggets  and  Beacon  Communications,  increased  34
percent to $26.4  million from $19.7  million in the second  quarter of 1996. In
the second  quarter of 1997 Beacon  received  revenue of $6.8  million  from the
delivery of the motion  picture  Playing God to its  distributors.  In addition,
while  the  Colorado   Avalanche   realized   increased   revenues   from  their
participation in the 1997 Stanley Cup playoffs in spite of two less home playoff
games, these increases were substantially  offset by declining revenues from the
Denver  Nuggets,  primarily  due to a decrease in  attendance  and two less home
games during the quarter  compared to the same period last year.  The  segment's
operating  loss of $4.2 million for the 1997 second  quarter  compares to a $6.0
million loss in the second quarter of 1996.  This decreased loss is attributable
to an improvement in the operating  margins from the Avalanche  partially offset
by an increase in  operating  losses at the Nuggets  which are  attributable  to
higher operating costs and lower revenues.

Ascent Consolidated
Interest  expense for the second  quarter of 1997 was $5.6  million  compared to
$2.0 million in the second quarter of 1996. This increase is attributable to the
additional  borrowings  incurred  during  1996  and the  first  half of 1997 for
capital expenditures,  investment requirements (primarily the assumption of debt
in the SpectraVision  transaction) and the funding of operating  requirements of
Ascent and its subsidiaries.  In conjunction with the SpectraVision transaction,
Ascent  Entertainment  and On Command each obtained new credit  facilities  that
were subsequently  amended in March of 1997 to modify certain  provisions of the
facilities.

Ascent's  effective tax benefit rate in the second  quarter of 1997 decreased to
15 percent as compared  to an  effective  tax benefit  rate of 30 percent in the
second quarter of 1996. This decline in the company's effective tax benefit rate
is primarily due to the losses  incurred by On Command during the second quarter
of 1997, in which no tax benefit was recognized due to  uncertainties  regarding
On Command's ability to realize a portion of the benefits associated with future
deductible  temporary  differences  (deferred tax assets) and net operating loss
carry forwards prior to their expiration.

Cash and Liquidity
Cash and  cash  equivalents  increased  $4.8  million  in the  quarter  to $14.8
million. Bank borrowings under the $140.0 million Ascent credit facility and the
$150.0 million On Command credit  facility have increased $33.0 million in total
since year end 1996 to a total of $226.0 million at June 30, 1997, primarily due
to continued  capital  expenditures at On Command to support business growth and
for  the  operating   requirements  of  Ascent.  If  Ascent  does  not  commence
construction  on the proposed Denver arena project prior to August 31, 1997, the
Ascent  credit  facility will be in default.  In addition,  the Company may only
renew the Ascent credit  facility for an additional  two years beyond October 9,
1997 if, before that date,  Ascent has received  $50.0  million in  subordinated
debt financing.  Although Ascent  management  believes  progress in negotiations
with the City and County of Denver on the Denver  arena  project  has been made,
Ascent will not be able to break ground by August 31, 1997. Ascent is continuing
discussions  with its lenders to obtain an  extension  of time past August 31 by
which it would need to commence  construction on the arena.  Although management
believes these  discussions will be successful,  there can be no assurances that
other  contingencies will not arise which could impact Ascent's ability to reach
final  agreements  with its  lenders  and  obtain  the  additional  subordinated
financing  or that such  financing  will be  available  on terms  acceptable  to
Ascent.

Other
On June 27,  1997,  COMSAT  Corporation  completed  the  spin-off of Ascent as a
tax-free  dividend to its shareholders.  The spin-off was intended,  among other
things,  to afford Ascent more  flexibility  in obtaining debt financing to meet
its growing needs without regard to certain capital structure and debt financing
restrictions  imposed by COMSAT. As a result,  Ascent's  financial  leverage may
increase in the future subject to the  resolution of the bank  financing  issues
discussed  above. In addition,  pursuant to the distribution  agreement  between
Ascent and COMSAT which governs the transaction,  certain restrictions have been
put in  place  to  protect  the  tax-free  status  of the  spin-off.  Among  the
restrictions,  Ascent  will not be allowed to sell or  otherwise  issue stock or
instruments  convertible  into stock of Ascent  until one year after the date of
the spin-off.

As a result of the spin-off,  Ascent is no longer part of COMSAT's  consolidated
tax group and,  accordingly,  Ascent may be unable to recognize tax benefits and
will not receive cash payments from COMSAT  resulting from Ascent's  anticipated
operating losses during the second half of 1997.

Ascent  Entertainment  Group's  principal  business  is  providing  pay-per-view
entertainment  and information  services through its 57 percent-owned On Command
Corporation.  In  addition,  Ascent is involved  in other  entertainment-related
businesses  including  ownership and operation of the NBA Denver Nuggets and NHL
Colorado Avalanche,  and Beacon Communications,  a motion picture and television
production company.

Some of the  statements in this news release are  forward-looking  and relate to
anticipated  future operating results.  Forward-looking  statements are based on
Ascent management's current expectations and assumptions,  which may be affected
by subsequent  developments  and business  conditions,  and necessarily  involve
risks and uncertainties. Therefore, there can be no assurance that actual future
results will not differ materially from anticipated results.

Readers should refer to Ascent's disclosure  documents filed with the Securities
and Exchange  Commission,  including the  company's  1996 form 10-K and the form
10-Q for the first  quarter of 1997 for specific  details on some of the factors
that may affect operating results.
                                           ###

For a menu of Ascent  Entertainment  Group's news  releases  available by fax 24
hours (no charge) or to retrieve a specific release, please call 1-800-758-5804,
ext. 152850, or access the address http://www.prnewswire.com on the internet.
ASCENT ENTERTAINMENT GROUP, INC.
                     CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                    UNAUDITED
                (Dollar amounts in millions, except per share information)
Three Months Ended      Six Months Ended
                                          June 30,                June 30,
                                    1997        1996        1997        1996
Revenues                            $87.6       $56.0       $177.5      $128.4

Operating expenses                   71.2        46.9        159.2       107.5
Depreciation and amortization        25.2        16.0         50.6        31.7

Loss from operations                 (8.8)       (6.9)       (32.3)      (10.8)

Interest expense                     (5.6)       (2.0)       (10.2)       (3.6)
Other income (expense), net           0.2         0.1          0.4        (0.2)

Loss before taxes
      and minority interest         (14.2)       (8.8)       (42.1)      (14.6)

Income tax benefit                    2.1         2.6          7.3         4.4

Loss before minority interest       (12.1)       (6.2)       (34.8)      (10.2)

Minority interest in (income)
      loss of subsidiary              2.3        (0.1)         7.4        (0.3)

Net loss                            ($9.8)      ($6.3)      ($27.4)     ($10.5)

EBITDA                              $16.4        $9.1        $18.3       $20.9

Net loss per common share           ($0.33)     ($0.21)      ($0.92)     ($0.35)

EBITDA per share                     $0.55       $0.31        $0.62       $0.70

Weighted average number               29.8        29.8         29.8        29.8
      of common shares
      outstanding
ASCENT ENTERTAINMENT GROUP, INC.
                             SELECTED FINANCIAL DATA
                                    UNAUDITED
                   (Dollar amounts in millions, except for rooms data)
Three Months Ended      Six Months Ended
                                            June 30,                June 30,
                                     1997        1996        1997        1996
REVENUES:
      Multimedia Distribution       $61.2       $36.3       $118.3      $ 71.5
Entertainment                        26.4        19.7         59.2        56.9
            Total                   $87.6       $56.0       $177.5      $128.4

EBITDA:
      Multimedia Distribution       $18.7       $15.1        $30.4       $29.8
      Entertainment                  (1.1)       (3.2)        (8.9)       (3.9)
      General & Administrative       (1.2)       (2.8)        (3.2)       (5.0)
            Total                   $16.4        $9.1        $18.3       $20.9

OPERATING INCOME (LOSS):
      Multimedia Distribution       ($3.4)       $1.9       ($13.1)       $4.1)
      Entertainment                  (4.2)       (6.0)      ($16.0)       (9.9)
      General & Administrative       (1.2)       (2.8)        (3.2)       (5.0)
            Total                   ($8.8)      ($6.9)      ($32.3)     ($10.8)

Other Data (at end of period):
      Total Number of Guest-pay rooms
            On-demand                                       733,000     419,000
            Schedule only                                   188,000           0
                                                            921,000     419,000

                                                            June 30,    Dec. 31,
                                                            1997        1996
Balance Sheet Data:
      Total Debt Outstanding                                $226.0      $193.0