In this paper, multi-group multicast beamforming is considered with antenna selection. Nonconvex joint problem is converted to an equivalent biconvex problem by using exact penalty approach. The equivalent problem is solved iteratively using alternating maximization where a convex problem is solved at each step. Antenna selection reduces the total transmitted power significantly compared to the scenario with fixed antennas. Proposed method is computationally efficient and presents significant improvements in total transmitted power.