ATLANTA, Dec. 30 /PRNewswire/ -- Bull Run Corporation (Nasdaq: BULL)
announced that its investee, iHigh.com, Inc., has successfully concluded a
private placement raising approximately $7.5 million of common equity from a
group of investors primarily in Lexington, Kentucky and WWW Internet Fund, an
Internet mutual fund. iHigh.com is creating a network of websites centered in
high school sports and activities by linking 51 high school state associations
and more than 17,000 public high schools in partnership with the National
Federation of State High School Associations, reaching approximately 10
million high school students via the World Wide Web.
iHigh.com was formed in July 1999 by Host Communications Inc., Bull Run's
wholly owned subsidiary based in Lexington. Bull Run's equity investment in
iHigh.com of approximately 40% is owned through Host. On December 17, 1999,
Bull Run completed its acquisition of Host and Host's affiliate, Universal
Sports America, Inc. ("USA").
iHigh.com provides every high school in the United States a free web site
that connects scholastic sports and other school activities to a national
network. The site offers schools easy on-line, password-protected templates,
giving every high school access to a professionally designed web site at no
charge and without HTML programming. Students, parents, alumni and other
school supporters can easily connect with schools at a local, state and
national level, and can follow local sports statistics, find out the latest on
local school-related events, open a free e-mail account, or support their
local school with on-line commerce and advertising.
W. James Host, President and CEO of Host Communications, Inc., commented,
"We are thrilled by the overwhelming response to iHigh's initial capital
campaign from our local business people. We are equally excited about the
future of iHigh. In addition to the National High School Federation, which
has joined us as an equity participant, we have already launched 12 official
state association web sites."
Robert S. Prather, Jr., President and CEO of Bull Run added, "iHigh.com is
another in a string of successful Internet companies in which we have been
actively involved, beginning with broadcast.com and Total Sports, Inc. Host
also has a very successful Internet business itself, which concentrates on
providing content to various major universities and athletic conferences."
USA sold a 5% equity stake in broadcast.com, inc. earlier this year, and
Bull Run currently holds an 11.4% equity stake in Total Sports, Inc., a sports
content Internet company. On November 12, 1999, Total Sports filed a Form S-1
Registration Statement with the Securities and Exchange Commission relating to
a proposed $50,000,000 initial public offering of its common stock. On
November 29, 1999, Total Sports announced that it had expanded its strategic
relationship with NBC, receiving on-air promotion from NBC in return for NBC's
minority equity position in Total Sports.
SOURCE Bull Run Corporation
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Company News On-Call:
http://www.prnewswire.com/comp/232438.html or fax,
800-758-5804, ext. 232438
CONTACT:
Robert S. Prather, Jr., President and CEO of
Bull Run Corporation, 404-266-8333, or W. James Host, President
and CEO of Host Communications, Inc., 606-226-4202
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