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): January 14, 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 7. Financial Statements, Pro Forma Financial Information and Exhibits

(c) Exhibits -
      Exhibit 99 - Press release dated January 14, 2004

Item 9. Regulation FD Disclosures

On January 13, 2004,  Bull Run  Corporation  received notice that effective with
the open of business on Thursday,  January 15, 2004,  the  Company's  securities
would be  delisted  from  The  Nasdaq  Stock  Market,  and  that  the  Company's
securities will be immediately  eligible for quotation on the OTC Bulletin Board
effective  with the open of business on January 15, 2004. The OTC Bulletin Board
symbol  assigned to the Company will be BULL, the same symbol as that used while
the  Company's  securities  were listed on Nasdaq.  As previously  reported,  on
December 4, 2003, the Company received a Nasdaq Staff  Determination  indicating
that  the  Company  fails  to  comply  with  the  minimum  stockholders'  equity
requirement  for  continued  listing,  and that its  securities  were  therefore
subject to delisting from the Nasdaq SmallCap  Market.  On January 14, 2004, the
Company issued a press release reporting the change in listing status. A copy of
the press  release is hereby  attached  hereto as  Exhibit  99 and  incorporated
herein by reference.

Item 12. Results of Operations and Financial Condition

On January 14, 2004, Bull Run Corporation  issued a press release  reporting its
financial  results for the first quarter ended  November 30, 2003. A copy of the
press release is hereby attached hereto as Exhibit 99 and incorporated herein by
reference.

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.

                                   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: January 14, 2004                BULL RUN CORPORATION

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


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