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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      D.C. 20549 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Date
      of Report (Date of Earliest Event Reported): June 20, 2006
</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>YouthStream
      Media Networks, Inc. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in its charter) </font><br></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Delaware</font></div>
              </td>
              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">0-27556</font></div>
              </td>
              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">13-4082185</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                  or other jurisdiction of</font></div>
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              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission</font></div>
              </td>
              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer</font></div>
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            <tr>
              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">incorporation
                  or organization)</font></div>
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              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
                  Number)</font></div>
              </td>
              <td valign="top" width="33%" style="border-bottom: medium none;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                  Number)</font></div>
              </td>
            </tr>

        </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">244
      Madison Avenue, PMB #358, New York, New York 10016 </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
      of principal executive offices, including Zip Code) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
      telephone number, including area code</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">:</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      (212)
      883-0083 </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
      applicable</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      name or former address, if changed since last report.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;
      </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b)) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.02. Departure of Directors or Principal Officers; Election of Directors;
      Appointment of Principal Officers. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      June
      20, 2006, Robert N. Weingarten tendered his resignation as the Company&#8217;s Chief
      Financial Officer and Secretary and with respect to all the positions that
      he
      holds in the Company&#8217;s subsidiaries. Mr. Weingarten&#8217;s resignation will be
      effective as of August&#160;31, 2006 or earlier if requested by the Company&#8217;s
      Board of Directors (the &#8220;Board&#8221;). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      June
      22, 2006, Jonathan V. Diamond tendered his resignation as the Company&#8217;s Chief
      Executive Officer and with respect to all executive positions that he holds
      in
      the Company&#8217;s subsidiaries. Mr. Diamond&#8217;s resignation will be effective as of
      August&#160;31, 2006 or earlier if requested by the Board. Mr. Diamond will
      continue to serve as the Company&#8217;s Chairman of the Board. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Board
      anticipates filling&#160;these executive positions concurrent with their vacancy
      and in any event on or before August 31, 2006.&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
      On
      June 26, 2006, the Board increased its size from five to six members and elected
      Jess Ravich as a Class III director to fill the newly-created vacancy. At this
      time, the Board has not determined if Mr. Ravich will be appointed to any Board
      committees. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
      are
      no arrangements or understandings between Mr.&#160;Ravich and any other person
      pursuant to which Mr.&#160;Ravich was selected as a director.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.&#160;Ravich
      is the Chairman and Chief Executive Officer of Libra Securities, LLC (&#8220;Libra
      Securities&#8221;), a Los Angeles based investment banking firm that focuses on
      capital raising and financial advisory services for middle market corporate
      clients and the sales and trading of debt and equity securities for
      institutional investors. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prior
      to
      founding Libra Securities in 1991, Mr.&#160;Ravich was an Executive Vice
      President at Jefferies&#160;&amp; Co.,&#160;Inc. and a Senior Vice President at
      Drexel Burnham Lambert. Mr.&#160;Ravich serves on the board of directors of
      Cherokee Inc., Continental AFA Dispensing Company and the board of managers
      of
      OpBiz, LLC. In addition to his professional responsibilities, Mr.&#160;Ravich is
      also on the Undergraduate Executive Board of the Wharton School and the Board
      of
      Trustees of the Archer School for Girls.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Ravich </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">is
      a
      principal of Libra/KES Investment I, LLC (&#8220;Libra/KES&#8221;), the Manager of KES
      Holdings, LLC, a Delaware limited liability company (&#8220;KES Holdings&#8221;), in which
      the Company currently owns a 2.67% membership interest. In addition, affiliates
      of Mr. Ravich, including a trust for the benefit of Mr. Ravich and certain
      of
      his family members (the &#8220;Ravich Trust&#8221;), are investors in KES Holdings. Through
      Mr. Ravich&#8217;s relationships with the Ravich Trust, Libra/KES and Libra Securities
      Holdings, LLC (&#8220;Libra Holdings&#8221;), the parent of Libra Securities, Mr. Ravich has
      direct and indirect material interests in the following transactions to which
      the Company was a party during the last two fiscal years. </font></div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      previously announced, in September&#160;2003, the Company invested $125,000 to
      acquire a 1.00% membership interest in KES Holdings (such membership interest
      has increased to 2.67% </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">as
      a
      result of the redemption of another member&#8217;s interest)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      which
      was formed to acquire certain assets of Kentucky Electric Steel,&#160;Inc., a
      Delaware corporation (&#8220;KES&#8221;), consisting of a steel mini-mill located in
      Ashland, Kentucky (the &#8220;Mill&#8221;). KES had ceased production on or about
      December&#160;16, 2002 and filed a voluntary petition for relief under Chapter
      11 of the United States Bankruptcy Code on February&#160;5, 2003. On
      September&#160;2, 2003, KES Holdings, through its subsidiary, KES Acquisition
      Company, LLC, a Delaware limited liability company (&#8220;KES Acquisition&#8221;),
      completed the acquisition of the Mill pursuant to Section&#160;363 of the United
      States Bankruptcy Code for cash consideration of $2,650,000. The acquisition
      of
      the Mill by KES Acquisition was funded through capital contributions of the
      members of KES Holdings, which were also used for start-up costs, working
      capital purposes and payment of deferred maintenance on the Mill. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      9, 2005, the Company completed its acquisition of KES Acquisition (the
&#8220;Acquisition&#8221;), which was deemed effective March 1, 2005. Pursuant to definitive
      agreements executed with KES Holdings and Atacama Capital Holdings, Ltd., a
      British Virgin Islands company (&#8220;Atacama,&#8221; and together with KES Holdings,
      collectively, the &#8220;Sellers&#8221;), the Company, through its newly-formed subsidiary,
      YouthStream Acquisition Corp., a Delaware corporation (&#8220;Acquisition Corp.&#8221;),
      acquired 100% of the membership interests of KES Acquisition by acquiring (i)
      a
      37.45% membership interest from KES Holdings and (ii) all of the capital stock
      of Atacama KES Holding Corporation (&#8220;Atacama KES&#8221;), a wholly-owned subsidiary of
      Atacama and the owner of the remaining 62.55% membership interest in KES
      Acquisition. As consideration for the Acquisition, Acquisition Corp. issued
      to
      the Sellers (i) $40,000,000 in promissory notes (the &#8220;Notes&#8221;), (ii) 25,000
      shares of 13% Series A Non-Convertible Preferred Stock with an aggregate
      liquidation value of $25,000,000 (the &#8220;13% Series A Preferred Stock&#8221;) and (iii)
      100% of its authorized shares of Series B Non-Voting Common Stock. With respect
      to the $65,000,000 of purchase consideration, $19,000,000 of the Notes and
      $10,000,000 of the 13% Series A Preferred Stock were issued to KES Holdings,
      and
      $21,000,000 of the Notes and $15,000,000 of the 13% Series A Preferred Stock
      were issued to Atacama. Subordinated Promissory Notes issued by KES Acquisition
      in the original principal amount of $1,650,000 and $450,000 are payable to
      the
      Ravich Trust and Libra Holdings, respectively.</font></div>
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      Ravich either directly or through the Ravich Trust, holds 1,860,000 shares
      of
      the Company's common stock, warrants to purchase 500,000 shares of the Company's
      common stock exercisable through August 31, 2008, 1,000,000 shares of the
      Company&#8217;s redeemable preferred stock, and an option to purchase 200,000 shares
      of the Company&#8217;s common stock exercisable through June 26, 2013, which was
      issued to Mr. Ravich under the Company&#8217;s 2000 Stock Incentive Plan in connection
      with his election to the Board. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><u>YOUTHSTREAM
                MEDIA NETWORKS, INC.</u></font></div>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Registrant)</font></div>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;June
              26, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/
              ROBERT N. WEINGARTEN</font></td>
          </tr>
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            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Robert
              N. Weingarten </font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Chief
              Financial Officer</font></td>
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{"company-data": {"conformed-name": "YOUTHSTREAM MEDIA NETWORKS INC", "cik": "0001103926", "assigned-sic": "7310", "irs-number": "134082185", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-95201", "film-number": "06924945"}, "business-address": {"street1": "28 WEST 23RD STREET", "street2": "6TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10010", "phone": "2126227300"}, "mail-address": {"street1": "28 WEST 23RD STREET", "street2": "6TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10010"}, "former-company": {"former-conformed-name": "YOUTH STREAM MEDIA NETWORKS INC", "date-changed": "20000121"}}
UNITED
      STATES
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): June 20, 2006
YouthStream
      Media Networks, Inc.
(Exact
      name of registrant as specified in its charter)
Delaware
0-27556
13-4082185
(State
                  or other jurisdiction of
(Commission
(I.R.S.
                  Employer
incorporation
                  or organization)
File
                  Number)
Identification
                  Number)
244
      Madison Avenue, PMB #358, New York, New York 10016
(Address
      of principal executive offices, including Zip Code)
Registrant's
      telephone number, including area code
:
(212)
      883-0083
Not
      applicable
(Former
      name or former address, if changed since last report.)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item
      5.02. Departure of Directors or Principal Officers; Election of Directors;
      Appointment of Principal Officers.
(b)
On
      June
      20, 2006, Robert N. Weingarten tendered his resignation as the Company's Chief
      Financial Officer and Secretary and with respect to all the positions that
      he
      holds in the Company's subsidiaries. Mr. Weingarten's resignation will be
      effective as of August 31, 2006 or earlier if requested by the Company's
      Board of Directors (the "Board").
On
      June
      22, 2006, Jonathan V. Diamond tendered his resignation as the Company's Chief
      Executive Officer and with respect to all executive positions that he holds
      in
      the Company's subsidiaries. Mr. Diamond's resignation will be effective as of
      August 31, 2006 or earlier if requested by the Board. Mr. Diamond will
      continue to serve as the Company's Chairman of the Board.
The
Board
      anticipates filling these executive positions concurrent with their vacancy
      and in any event on or before August 31, 2006.
(d)
      On
      June 26, 2006, the Board increased its size from five to six members and elected
      Jess Ravich as a Class III director to fill the newly-created vacancy. At this
      time, the Board has not determined if Mr. Ravich will be appointed to any Board
      committees.
There
      are
      no arrangements or understandings between Mr. Ravich and any other person
      pursuant to which Mr. Ravich was selected as a director.
Mr. Ravich
      is the Chairman and Chief Executive Officer of Libra Securities, LLC ("Libra
      Securities"), a Los Angeles based investment banking firm that focuses on
      capital raising and financial advisory services for middle market corporate
      clients and the sales and trading of debt and equity securities for
      institutional investors.
Prior
      to
      founding Libra Securities in 1991, Mr. Ravich was an Executive Vice
      President at Jefferies & Co., Inc. and a Senior Vice President at
      Drexel Burnham Lambert. Mr. Ravich serves on the board of directors of
      Cherokee Inc., Continental AFA Dispensing Company and the board of managers
      of
      OpBiz, LLC. In addition to his professional responsibilities, Mr. Ravich is
      also on the Undergraduate Executive Board of the Wharton School and the Board
      of
      Trustees of the Archer School for Girls.
Mr.
      Ravich
is
      a
      principal of Libra/KES Investment I, LLC ("Libra/KES"), the Manager of KES
      Holdings, LLC, a Delaware limited liability company ("KES Holdings"), in which
      the Company currently owns a 2.67% membership interest. In addition, affiliates
      of Mr. Ravich, including a trust for the benefit of Mr. Ravich and certain
      of
      his family members (the "Ravich Trust"), are investors in KES Holdings. Through
      Mr. Ravich's relationships with the Ravich Trust, Libra/KES and Libra Securities
      Holdings, LLC ("Libra Holdings"), the parent of Libra Securities, Mr. Ravich has
      direct and indirect material interests in the following transactions to which
      the Company was a party during the last two fiscal years.
As
      previously announced, in September 2003, the Company invested $125,000 to
      acquire a 1.00% membership interest in KES Holdings (such membership interest
      has increased to 2.67%
as
      a
      result of the redemption of another member's interest)
,
      which
      was formed to acquire certain assets of Kentucky Electric Steel, Inc., a
      Delaware corporation ("KES"), consisting of a steel mini-mill located in
      Ashland, Kentucky (the "Mill"). KES had ceased production on or about
      December 16, 2002 and filed a voluntary petition for relief under Chapter
      11 of the United States Bankruptcy Code on February 5, 2003. On
      September 2, 2003, KES Holdings, through its subsidiary, KES Acquisition
      Company, LLC, a Delaware limited liability company ("KES Acquisition"),
      completed the acquisition of the Mill pursuant to Section 363 of the United
      States Bankruptcy Code for cash consideration of $2,650,000. The acquisition
      of
      the Mill by KES Acquisition was funded through capital contributions of the
      members of KES Holdings, which were also used for start-up costs, working
      capital purposes and payment of deferred maintenance on the Mill.
On
      March
      9, 2005, the Company completed its acquisition of KES Acquisition (the
"Acquisition"), which was deemed effective March 1, 2005. Pursuant to definitive
      agreements executed with KES Holdings and Atacama Capital Holdings, Ltd., a
      British Virgin Islands company ("Atacama," and together with KES Holdings,
      collectively, the "Sellers"), the Company, through its newly-formed subsidiary,
      YouthStream Acquisition Corp., a Delaware corporation ("Acquisition Corp."),
      acquired 100% of the membership interests of KES Acquisition by acquiring (i)
      a
      37.45% membership interest from KES Holdings and (ii) all of the capital stock
      of Atacama KES Holding Corporation ("Atacama KES"), a wholly-owned subsidiary of
      Atacama and the owner of the remaining 62.55% membership interest in KES
      Acquisition. As consideration for the Acquisition, Acquisition Corp. issued
      to
      the Sellers (i) $40,000,000 in promissory notes (the "Notes"), (ii) 25,000
      shares of 13% Series A Non-Convertible Preferred Stock with an aggregate
      liquidation value of $25,000,000 (the "13% Series A Preferred Stock") and (iii)
      100% of its authorized shares of Series B Non-Voting Common Stock. With respect
      to the $65,000,000 of purchase consideration, $19,000,000 of the Notes and
      $10,000,000 of the 13% Series A Preferred Stock were issued to KES Holdings,
      and
      $21,000,000 of the Notes and $15,000,000 of the 13% Series A Preferred Stock
      were issued to Atacama. Subordinated Promissory Notes issued by KES Acquisition
      in the original principal amount of $1,650,000 and $450,000 are payable to
      the
      Ravich Trust and Libra Holdings, respectively.
Mr.
      Ravich either directly or through the Ravich Trust, holds 1,860,000 shares
      of
      the Company's common stock, warrants to purchase 500,000 shares of the Company's
      common stock exercisable through August 31, 2008, 1,000,000 shares of the
      Company's redeemable preferred stock, and an option to purchase 200,000 shares
      of the Company's common stock exercisable through June 26, 2013, which was
      issued to Mr. Ravich under the Company's 2000 Stock Incentive Plan in connection
      with his election to the Board.
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
YOUTHSTREAM
                MEDIA NETWORKS, INC.
(Registrant)
Date: June
              26, 2006
By:
/s/
              ROBERT N. WEINGARTEN
Robert
              N. Weingarten
Chief
              Financial Officer