BULL RUN MAKES INVESTMENT IN HOST COMMUNICATIONS

     Atlanta-based Bull Run Corp. announced that it has made an
investment in Host Communications, one of the nation's largest
collegiate sports marketing companies.  W. James Host, Chair and
CEO of Host Communications, confirmed that after the purchase,
Bull Run will own slightly more than 27% of Host's diluted common
stock.  Bull Run, headed by President/CEO Robert Prather, is the
largest shareholder of Gray Communications.  Gray Communications,
which recently purchased KY-based TV stations WKYT and WYMT, owns
three additional stations as well as three newspapers in the
southeastern U.S.  WKYT-TV is the flagship TV station for the
Univ. of Kentucky Sports TV Network.  Host has an official
marketing relationship with the Univ. of Kentucky as well
(Host/Bull Run).