FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *   BUNIMOVITZ ILAN 2. Date of Event Requiring Statement (Month/Day/Year) 03/05/2009 3. Issuer Name and Ticker or Trading Symbol PRIVATE MEDIA GROUP INC [PRVT] (Last) (First) (Middle) 537 STEVENSON STREET 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive Vice President 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SAN FRANCISCO, CA 94103 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 5,627,851 D Â

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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Earnout Right (1)	12/31/2009(1)	12/31/2011(1)	Common Stock	1,112,852	$ 0 (1)	D	Â
Earnout Right (1)	12/31/2010(1)	12/31/2011(1)	Common Stock	1,112,852	$ 0 (1)	D	Â
Earnout Right (1)	12/31/2011(1)	12/31/2011(1)	Common Stock	1,112,852	$ 0 (1)	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BUNIMOVITZ ILAN 537 STEVENSON STREET SAN FRANCISCO, CA 94103	  X	Â	  Executive Vice President	Â

Signatures

/s/ Ilan Bunimovitz		03/13/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reporting person has the right to acquire the Common Stock, for no additional consideration, upon meeting certain EBITDA targets for Private Media Group, Inc.'s internet operations for each of the three years ended December 31, 2009, 2010 and 2011. These rights have been granted to the reporting person pursuant to an Agreement and Plan of Reorganization among Private Media Group, Inc., the reporting person and others, dated as of January 20, 2009.

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