UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
BULL RUN CORPORATION
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(Name of Issuer)
Common Stock, Par Value $.01 Per Share
----------------------------------------
(Title of Class of Securities)
120182100
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(CUSIP Number)
James W. Busby
19 East Atlanta Street
Wrightsville Beach, North Carolina 28480
(910) 509-1986
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 24, 1998
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(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
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
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 MEMBER OF A GROUP (a) [ ]
(b) [ ]
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS PF
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
- -----------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 2,552,912
SHARES
BENEFICIALLY ---------------------------------------------
OWNED BY 8 SHARED VOTING POWER 0
EACH
REPORTING ---------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 2,552,912
WITH
----------------------------------------------
10 SHARED DISPOSITIVE POWER 0
---------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON 2,552,912 shares
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY 11.4%
AMOUNT IN ROW (11)
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
- ----------------------------------------------------------------------------
</TABLE>
Page 2 of 4 pages
<PAGE>
Item 5 of the Schedule 13D, dated January 24, 1995, as amended
by Amendment No. 1 thereto, dated February 26, 1997, 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, as so amended, 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
- ---- ------ ---- -----
April 24, 1998 288,950 Sold $3.625
The Reporting Person sold these shares in the NASDAQ National Market System.
The Reporting Person is the beneficial owner of 2,552,912 shares of
Common Stock, representing approximately 11.4% of the shares outstanding,
including (a) an aggregate of 62,044 shares of Common Stock owned by the
Reporting Person's children and (b) 225,000 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
<PAGE>
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
May 11, 1998
Page 4 of 4 pages
