ATLANTA, June 12 /PRNewswire-FirstCall/ --
Bull Run Corporation (Nasdaq: BULL) today announced that the Nasdaq Stock
Market has approved the Company's application to transfer the listing of its
common stock to the Nasdaq SmallCap Market effective at the opening of
business today. The Company's common stock will continue to trade under the
symbol "BULL".
This transfer to the Nasdaq SmallCap Market provides the Company
additional time to regain compliance with Nasdaq's minimum bid price continued
listing requirement. The Company expects that this period of time will extend
through February 18, 2003, since the Company currently complies and expects to
comply with eligibility criteria set forth by the Nasdaq Stock Market for an
extended 180-day grace period beyond the current Nasdaq SmallCap Market grace
period that terminates on August 21, 2002. The Company will be eligible to
regain compliance with the Nasdaq SmallCap Market continued listing
requirements once the closing price of the Company's stock meets or exceeds
$1.00 for a minimum of 10 consecutive trading days prior to February 18, 2003.
Additionally, the Company would be eligible to transfer back to the Nasdaq
National Market by meeting the $1.00 minimum bid price requirement for at
least 30 consecutive trading days and maintaining its compliance with all
other National Market standards.
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 or Frederick J. Erickson, Bull Run's VP-Finance &
Chief Financial Officer, at (704) 602-3107.
SOURCE Bull Run Corporation
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Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/232438.html
CONTACT:
Robert S. Prather, Jr., President & Chief
Executive Officer, +1-404-266-8333, or Frederick J. Erickson,
VP-Finance & Chief Financial Officer, +1-704-602-3107, both of
Bull Run Corporation
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