X0202 4 2005-12-30 1 0000319697 BULL RUN CORP BULL 0001237797 ERICKSON FREDERICK J 4216 STUART ANDREW BLVD. CHARLOTTE NC 28217 0 1 0 0 Vice President-Finance, CFO Common Stock, $.01 par value 2005-12-30 4 U 0 1130 D 0 D Option to Purchase 36.875 2005-12-30 4 U 0 5000 D 2009-02-01 Common Stock, $.01 par 5000 0 D Option to Purchase 13.50 2005-12-30 4 U 0 10000 D 2011-04-23 Common Stock, $.01 par 10000 0 D Disposed of pursuant to the merger agreement between Bull Run Corporation and Triple Crown Media, Inc., the terms of which provide for the exchange of each outstanding share of Bull Run common stock for 0.0289 shares of Triple Crown Media, Inc. common stock having a market value of $12.25 per share as of market close on December 30, 2005. This option, which was fully vested, was assumed by Triple Crown Media, Inc. and replaced with an option to purchase 144 shares of Triple Crown Media common stock for $1275.96 per share. This option, which was fully vested, was assumed by Triple Crown Media, Inc. and replaced with an option to purchase 289 shares of Triple Crown Media common stock for $467.13 per share. FREDERICK J ERICKSON 2006-01-04