Ed tech improvements tune out TV station.IT CERTAINLY WAS A LONG-TERM asset Long-term assets or noncurrent assets are those assets usually in service over one year such as lands and buildings, plants and equipment, and long-term investments. These often receive favorable tax treatment over current assets. . But after more than 50 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time University of Notre Dame Notre Dame IPA: [nɔtʁ dam] is French for Our Lady, referring to the Virgin Mary. In the United States of America, Notre Dame (Ind.) has sold its television station. In the deal, Atlanta-based Gray Television acquired all capital stock from Michiana Telecasting Corp., the university-owned company that operates WNDU-TV--providing a healthy $85 million revenue boost for Notre Dame. The main reason for selling: The evolution of educational broadcasting methods. "The need for a television outlet to get our message out has dissipated dis·si·pat·ed adj. 1. Intemperate in the pursuit of pleasure; dissolute. 2. Wasted or squandered. 3. Irreversibly lost. Used of energy. over the years," notes John Affleck-Graves, executive vice president of Notre Dame. In addition, it's increasingly difficult for a single-owner station to succeed today; the NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. affiliate's 100 employees have more growth opportunities within a larger company. Gray now owns 36 stations in 30 markets, including 17 in college towns; WNDU-TV is its only college station. Once the decision to sell was made, a former university trustee who had worked in TV advised meeting with the media divisions of major investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. . Endowment contacts led officials to some private equity investors in the media industry, one of whom recommended working through a broker. The broker set up meetings with potential buyers. Notre Dame sought a long-term holder who would be a good neighbor--important because operations will remain on campus through at least 2021, says Affleck-Graves. As for the extra revenue, spending decisions will be made in June. Affleck-Graves says financial aid is a critical need; money will also likely be spent on the library, science equipment, and faculty. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion