ATLANTA, July 20 /PRNewswire/ -- Bull Run Corporation (Nasdaq: BULL) today
announced that the Company and its lenders have agreed to all of the principal
terms of an amended and restated bank credit facility, including an extension
of the facility's maturity date from December 17, 2001 to July 1, 2002. In
order to allow for adequate time to complete documentation, the lenders have
agreed to extend its waiver of all existing events of default under Bull Run's
bank credit facility to July 31, 2001.
Bull Run recently announced that its wholly owned subsidiary, Host
Communications, Inc. (Host), executed an 11-year agreement with CBS Sports for
certain marketing, licensing and media rights. Under the agreement, which
takes effect in September 2002, HCI was awarded, among other rights, the (a)
exclusive right to administer the National Collegiate Athletic Association
(NCAA) Corporate Partner Program; (b) exclusive right to produce, distribute
and sell NCAA Championship game programs and publications; (c) rights to
engage in merchandise licensing utilizing registered marks of the NCAA and its
championships; and (d) television rights for certain NCAA Championships that
will not be otherwise aired by CBS or ESPN, and other sports-related
television programming.
Host's contract with CBS will run concurrent with the network's agreement
with the NCAA, which begins with the fall academic calendar in 2002 and
extends through the spring championships season in 2013. This CBS/Host
agreement extends Host's relationship with the NCAA, which began in 1975 and
was otherwise scheduled to end in 2002.
Forward-Looking Statements
Certain statements contained herein are forward-looking statements that
are made pursuant to the safe harbor provisions of the Private Litigation
Reform Act of 1995. Wherever used, the words "expect," "plan," "anticipate,"
"believe," "may" and similar expressions are intended to identify forward-
looking statements. Forward-looking statements involve known and unknown
risks and uncertainties, which may cause the Company's actual results in
future periods or plans for future periods to differ materially from what is
currently anticipated. Those risks include, among other things, those risks
set forth in the Company's Annual Report on Form 10-K and other reports and
documents filed with the Securities and Exchange Commission. The Company has
no obligation to publicly update or revise any forward-looking statements made
herein or elsewhere, whether as a result of new information, future events or
otherwise.
Contacts: Robert S. Prather, Jr., Bull Run's President & Chief Executive
Officer, at (404) 266-8333, or Frederick J. Erickson, VP-Finance and Chief
Financial Officer, at (704) 602-3107.
SOURCE Bull Run Corporation
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CONTACT:
Robert S. Prather, Jr., President & Chief
Executive Officer, +1-404-266-8333, or Frederick J. Erickson,
VP-Finance and Chief Financial Officer, +1-704-602-3107, both of
Bull Run Corporation
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