JOHNSON MONTE C 4

4 · BULL RUN CORP · Filed Jan 4, 2006

Form 4

Period: 2005-12-30

Director

Transactions

Disposition from Tender
Common stock, $.01 par value
2005-12-30−17,500→ 0 total
Disposition from Tender
Option to purchase
2005-12-30−1,818→ 0 total
Exercise: $3.44Exp: 2006-09-01→ Common Stock, $.01 par (1,818 underlying)
Disposition from Tender
Option to purchase
2005-12-30−500→ 0 total
Exercise: $9.30Exp: 2011-11-07→ Common Stock, $.01 par (500 underlying)

Footnotes (5)

[F1]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.
[F2]This option, which was fully vested, was assumed by Triple Crown Media, Inc. and replaced with an option to purchase 52 shares of Triple Crown Media common stock for $118.93 per share.
[F3]This option, which was fully vested, was assumed by Triple Crown Media, Inc. and replaced with an option to purchase 14 shares of Triple Crown Media common stock for $321.80 per share.
[F4]This option, which was fully vested, was assumed by Triple Crown Media, Inc. and replaced with an option to purchase 14 shares of Triple Crown Media common stock for $197.24 per share.
[F5]This option, which was fully vested, was assumed by Triple Crown Media, Inc. and replaced with an option to purchase 14 shares of Triple Crown Media common stock for $40.14 per share.

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