Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 13, 2008, FX Real Estate and Entertainment Inc. (the "Company") filed a Current Report on Form 8-K (the "Original 8-K") announcing that Michael J. Meyer was appointed to serve on the board of directors of the Company (the "Board of Directors"). At the time of the appointment of Mr. Meyer, no determination had been made as to his membership on any committees of the Board of Directors. This amendment to the Original 8-K is being filed to report that on August 13, 2008 the Board of Directors appointed Mr. Meyer to serve as a member of the Board of Directors' Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee.

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