ATLANTA, May 23 /PRNewswire-FirstCall/ --
Bull Run Corporation (Nasdaq: BULL) today announced that the Company
expects to receive approximately $4.0 to $4.2 million in federal tax refunds
and interest as a result of the filing of amended income tax returns and net
operating loss carryback claims. The Company amended federal tax returns
previously filed by companies acquired by Bull Run in December 1999, and
carried back net operating losses generated during the tax period ended
June 30, 2000 by certain of those acquired entities. The Company anticipates
receipt of the refunds and interest by July 2002, subject to processing
delays.
Bull Run, through its wholly owned subsidiary Host Communications, Inc.,
provides affinity, multimedia, promotional and event management services to
universities, athletic conferences, associations and corporations. Bull Run
also has significant investments in Gray Communications Systems, Inc., an
owner and operator of 13 television stations and four newspapers; Rawlings
Sporting Goods Company, Inc., a leading supplier of team sports equipment in
North America; and iHigh Inc., a marketing company focused on high school
students.
Forward-Looking Statements
Certain statements in this press release are "forward looking" statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not guaranties of future performance and actual results
may differ materially from those forecasted.
Contact: Robert S. Prather, Jr., Bull Run's President & Chief Executive
Officer, at (404) 266-8333.
SOURCE Bull Run Corporation
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Company News On-Call:
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CONTACT:
Robert S. Prather, Jr., President & Chief
Executive Officer of Bull Run Corporation, +1-404-266-8333
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