UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
BULL RUN CORPORATION
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
120182100
(CUSIP Number)
James W. Busby
4216 Stuart Andrew Boulevard
Charlotte, North Carolina 28217
(704) 523-8500
(Name, Address, and Telephone Number of Person Authorized to
Receive Notices and Communications)
January 17, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box: |_|
Check the following box if a fee is being paid with the
statement: |_|
Page 1 of 4 pages
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CUSIP No. 120182100
1) Name of Reporting Person James W. Busby
S.S. or I.R.S. Identification No.
of Above Person (Intentionally
Omitted)
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
3) SEC Use Only
4) Source of Funds PF
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or
2(e) [ ]
6) Citizenship or Place of Organization United States
7) Sole Voting 2,751,862 shares
Power
Number of Shares 8) Shared Voting -0-
Power
9) Sole Dis- 2,751,862 shares
positive Power
10) Shared Dis- -0-
positive Power
11) Aggregate Amount Beneficially
Owned By Each Reporting Person 2,751,862 shares
12) Check box if the Aggregate Amount
in Row (11) Excludes Certain Shares [ ]
13) Percent of Class Represented by
Amount in Row (11) 12.9%
14) Type of Reporting Person IN
Page 2 of 4 pages
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Item 5 of the Schedule 13D, dated January 24, 1995, relating
to the Common Stock, par value $.01 per share, of Bull Run Corporation is hereby
amended by adding thereto the information set forth below. The terms defined in
such Schedule 13D shall have their defined meanings herein, unless otherwise
defined herein.
Item 5. Interest in Securities of the Issuer.
Set forth below is certain information concerning all
transactions in the Common Stock in which the Reporting Person has engaged
during the past 60 days:
Number Price
of Acquired/ per
Date Shares Sold Share
January 17, 1997 500,000 Sold $2.50
The Reporting Person sold these shares to the Issuer in a private transaction at
the closing price of the Common Stock on the date of sale.
The Reporting Person is the beneficial owner of 2,751,862
shares of Common Stock, representing approximately 12.9% of the shares
outstanding, including (a) an aggregate of 62,044 shares of Common Stock owned
by the Reporting Person's children and (b) 135,000 shares of Common Stock
purchasable upon the exercise of options. The Reporting Person has the sole
power to vote or direct the vote and the sole power to dispose of or direct the
disposition of such shares (other that the shares subject to such options).
Page 3 of 4 pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete, and correct.
/s/ James W. Busby
James W. Busby
February 25, 1997
Page 4 of 4 pages
