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GRAY COMMUNICATIONS TERMINATES PROCESS OF INVESTIGATING POSSIBLE SALE OF COMPANY OR SUBSIDIARIES

 ALBANY, Ga., June 15 /PRNewswire/ -- Gray Communications Systems, Inc. (NASDAQ: GCOM) of Albany, announced today the termination of the process of investigating the possible sale of the company or one or more of its subsidiaries.
 This action permits the previously announced purchase of the shares of the Estate of James H. Gray Sr. by Bull Run Corporation (NASDAQ: BULL), Atlanta, and its affiliated company, Datasouth Computer Corporation (NASDAQ: DSCC) of Charlotte, N.C., to proceed. The consummation of the transaction is subject to certain conditions, including the approval of the Federal Communications Commission.
 Gray Communications Systems, Inc. is a holding company which operates three VHF NBC-affiliated television stations, WALB-TV in Albany, WJHG-TV in Panama City, Fla., and KTVE in El Dorado, Ark./Monroe, La.; a daily newspaper, The Albany Herald, in Albany, and a fixed-base operation at the Albany airport.
 -0- 6/15/93
 /CONTACT: John Williams, president and CEO of Gray Communications, 912-888-9302/
 (GCOM BULL DSCC)


CO: Gray Communications Systems, Inc.; Bull Run Corporation; Datasouth
 Computer Corporation ST: Georgia IN: SU: TNM


BN-BR -- AT001 -- 2111 06/15/93 12:12 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
Words:182
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