8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 21, 2004

                              BULL RUN CORPORATION
             (Exact name of registrant as specified in its charter)


  GEORGIA                            0-9385                      58-2458679
  -------                            ------                      ----------
(State or other                 (Commission File                (IRS Employer
jurisdiction of                      Number)                 Identification No.)
incorporation)

                   4370 PEACHTREE ROAD, ATLANTA, GEORGIA 30319
                   -------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                 (404) 266-8333
                                 --------------
              (Registrant's telephone number, including area code)




Item 5. Other Events and Regulation FD Disclosure

On July 21, 2004, Bull Run Corporation issued a press release reporting that
Thomas J. Stultz had been named President and Chief Executive Officer of Bull
Run's wholly-owned operating subsidiary, Host Communications, Inc. Mr. Stultz
replaced Mr. Gordon D. Whitener, who has left the company to pursue other
opportunities. Mr. Whitener also resigned from Bull Run's board of directors. As
stated in the press release, it is expected that Mr. Stultz will be nominated to
fill the vacated seat on Bull Run's board.

The information in this Report, including the Exhibit attached hereto, is being
furnished and shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, except as shall be
expressly set forth by specific reference in such filing.

Item 9. Financial Statements, Pro Forma Information and Exhibits

(c) Exhibits -
      Exhibit 99 - Press release dated July 21, 2004


                                       2


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date: July 21, 2004                   BULL RUN CORPORATION

                                      By: /s/ FREDERICK J. ERICKSON
                                          --------------------------------------
                                          Frederick J. Erickson
                                          Vice President - Finance,
                                          Chief Financial Officer, Treasurer and
                                          Assistant Secretary


                                       3

EX-99

                                                                      Exhibit 99

  Bull Run Corporation Names Thomas J. Stultz President and Chief Executive
                     Officer of Host Communications, Inc.

    ATLANTA, July 21 /PRNewswire-FirstCall/ -- Bull Run Corporation
(OTC: BULL) announced today that Thomas J. Stultz has been named President and
Chief Executive Officer of Bull Run's wholly-owned operating company, Host
Communications, Inc. ("HOST").  He replaces Gordon Whitener who has recently
left the company to pursue other opportunities.  It is expected that
Mr. Stultz will also be nominated to Bull Run's board of directors to fill
Mr. Whitener's seat.
    "Tom is an innovative marketer and an experienced executive who knows how
to run a business," said President and Chief Executive Officer of Bull Run
Corporation Robert S. Prather, Jr.  "Over the past eight years he has led the
publishing division of Gray Television, Inc. to record growth in revenues and
increased cash flows by more than 600 percent.  His top priorities will be to
improve the profitability of Host Communications and build upon the franchises
HOST enjoys in collegiate sports marketing, association management, publishing
and event planning and marketing."
    "I am very excited about the opportunities at HOST.  I love sports, sales
and marketing, building relationships and working with innovative and creative
people," said Stultz.  "Jim Host built a great company that enjoys a
tremendous reputation for excellence in everything it does.  I look forward to
building on that foundation.  I believe the company has a great future."
    Stultz has served as president of Gray Publishing LLC in Lawrenceville,
Georgia since February 1996, managing five daily newspapers owned by Gray
Television, Inc.  Prior to joining Gray, Stultz served as vice president and
vice president - marketing of Multimedia Newspaper Company in Greenville, S.C.
He has also held senior management positions with Harte-Hanks Communications,
Inc. and the Suburban Journals of Greater St. Louis.  He began his career as a
reporter for the Ashland (KY) Daily Independent in June 1971.
    Bull Run, through HOST, provides comprehensive sales, marketing,
multimedia, special event and convention/hospitality services to NCAA Division
I universities and conferences, national/global associations, and domestic and
international grassroots sports and lifestyle events (including the three-on-
three basketball "Hoop-It-Up National Tour" and the "got milk? 3-v-3 Soccer
Shootout" national tour.)

    Forward-Looking Statements
    Certain statements in this press release are "forward-looking" statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are not guaranties of future performance and actual results
may differ materially from those forecasted.

SOURCE  Bull Run Corporation
    -0-                             07/21/2004
    /CONTACT:  Robert S. Prather, Jr., President & Chief Executive Officer of
Bull Run Corporation, +1-404-266-8333; or Thomas J. Stultz, President & Chief
Executive Officer of HOST, +1-859-226-4356/
    /Web site:  http://www.bullruncorp.com /
    (BULL)

CO:  Bull Run Corporation; Host Communications, Inc. (HOST)
ST:  Georgia
IN:  SPT ENT OTC
SU:  PER