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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(Print or Type Responses)

1. Name and Address of Reporting Person *   CONSIPIO HOLDING BV 2. Date of Event Requiring Statement (Month/Day/Year) 07/06/2010 3. Issuer Name and Ticker or Trading Symbol PRIVATE MEDIA GROUP INC [PRVT] (Last) (First) (Middle) WALSOORDENSESTRAAT 70, 4588 KD 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) WALSOORDEN, P7 00000 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 5,600,000 I See footnote (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CONSIPIO HOLDING BV WALSOORDENSESTRAAT 70, 4588 KD WALSOORDEN, P7 00000	Â	  X	Â	Â

Signatures

Jacques de Bliek, Managing Director		08/11/2010
**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)	Beneficial ownership of the shares is claimed by the reporting person pursuant to a demand for delivery and claim of sole voting power with respect to 5,600,000 shares of the Issuer's common stock pursuant to the terms of that certain Pledge Agreement dated December 21, 2001 between Slingsby Enterprises Limited, a company organized under the laws of Gibraltar, and the reporting person's predecessor in interest, Commerzbank AG, a German corporation entered into to secure a guarantee of indebtedness of the Issuer to the reporting person. The reporting person's written demand dated July 6, 2010 asserts the existence of an event of default under the terms of the underlying indebtedness and the right to hold and to vote all of said shares.

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