Exhibit 99.4

                              BULL RUN CORPORATION
                            4370 PEACHTREE ROAD, N.E.
                             ATLANTA, GEORGIA 30319

                                PRELIMINARY COPY

                    PROXY FOR SPECIAL MEETING OF STOCKHOLDERS

                    ________ , 2005

This Proxy is Solicited by the Board of Directors.

      The undersigned stockholder of Bull Run Corporation, "Bull Run," hereby
appoints each of Robert S. Prather, Jr. and Frederick J. Erickson, attorneys and
proxies, with full power of substitution, to represent the undersigned and vote
all shares of the common stock of Bull Run which the undersigned is entitled to
vote, with all powers the undersigned would possess if personally present, at
the special meeting of stockholders of Bull Run to be held at _________ a.m., on
__________ , 2005, at __________ or at any adjournments or postponements
thereof, with respect to the proposals hereinafter set forth and upon such other
matters as may properly come before the special meeting and any adjournments or
postponements thereof.

      This proxy, when properly executed, will be voted in the manner directed
herein by the undersigned stockholder.

      Stockholders wishing to vote by telephone may do so by calling toll-free
on a touch-tone telephone 1-866-894-0531 and following the recorded
instructions. Stockholders may also vote on the Internet by logging on to
www.proxyvoting.com/bullrun and following the instructions appearing on that
site.

      Unless otherwise specified, this proxy will be voted "FOR" item 1 and in
the discretion of the proxies with respect to all other matters that were
unknown to such persons within a reasonable time prior to the mailing of the
accompanying Proxy Statement/Prospectus/Information Statement and which may
properly come before the special meeting or any adjournments or postponements
thereof. The undersigned acknowledges receipt of the accompanying Notice of
Special Meeting and Proxy Statement/Prospectus/Information Statement.

      Please mark boxes in blue or black ink.

      1.    Proposal to approve and adopt the Agreement and Plan of Merger,
            dated as of August 2, 2005 by and among Triple Crown Media, Inc., BR
            Acquisition Corp. and Bull Run Corporation, and the merger
            contemplated by the Agreement and Plan of Merger.

            [ ] FOR                  [ ] AGAINST                [ ] ABSTAIN



      2.    In their discretion, on any other matters that were unknown to such
            persons within a reasonable time prior to the mailing of the
            accompanying Proxy Statement/Prospectus/Information Statement and
            which may properly come before the meeting or any adjournments or
            postponements thereof.

                                        Dated: _________________

                                          ___________________________________
                                          Signature of Stockholder(s)

                                          ___________________________________
                                          Name of Stockholder(s)

      NOTE: When shares are held by joint tenants, both should sign. When
signing as attorney, executor, administrator, trustee, custodian, guardian or
corporate officer, please give your full title as such. If a corporation, please
sign full corporate name by authorized officer. If a partnership, please sign in
partnership name by authorized person.

                      PLEASE COMPLETE, DATE, SIGN AND MAIL
                            THIS PROXY CARD PROMPTLY,
                          USING THE ENCLOSED ENVELOPE,
                          OR PROMPTLY SUBMIT YOUR VOTE
                            VIA TELEPHONE OR INTERNET
                               AS DESCRIBED ABOVE.