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):  October 9, 1997


                            EQUITY MARKETING, INC.
              (Exact Name of Registrant as Specified in Charter)


         Delaware                 0-23346            13-3534145
(State or Other Jurisdiction     (Commission       (IRS Employer
     of Incorporation)           File Number)     Identification No.)


                              131 S. Rodeo Drive
                        Beverly Hills, California 90212
                   (Address of Principal Executive Offices)

                                (310) 887-4300
                        (Registrant's Telephone Number)




ITEM 5.   OTHER EVENTS
          ------------

     Equity Marketing, Inc. has withdrawn from the bidding for the renewal of
its international manufacturing license for Warner Bros.' Looney Tunes.  The
current license will terminate at the end of 1998.  Equity Marketing's license
becomes nonexclusive during 1998.

     The Company determined to withdraw from the bidding after it concluded
that the cost of renewing the license was too high when compared to the
Company's expectations for the product line.  The Company believes that its
shareholders will be better served by investing its capital into a range of
alternatives, including acquisitions, other licenses and a range of promotions
expansion opportunities.  The Company may consider bidding for both the
domestic and international Looney Tunes rights at future renewal dates
depending on its analysis of the impact on the Company at that time.





                                  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.


October 9, 1997                    EQUITY MARKETING, INC.



                              By:       /s/ Michael J. Welch
                                   -------------------------------------
                                   Michael J. Welch
                                   Senior Vice President;
                                   Chief Financial Officer and Treasurer