Gray Buys WNDU-TV for $85 Million

Nov 28, 2005  •  Post A Comment

Gray Television has agreed to pay $85 million to acquire NBC affiliate WNDU-TV in South Bend-Elkhart, Ind., from the University of Notre Dame’s Michiana Telecasting Corp.

Gray President Bob Prather said in the announcement Monday, “The acquisition of WNDU-TV is consistent with the company’s strategy of acquiring dominant television stations in markets with major universities. WNDU-TV is located on the Notre Dame campus and is ranked No. 1 in overall audience share and news viewing.”

John Affleck-Graves, Notre Dame executive VP, said the $85 million will be used for student and academic initiatives, with most of the money scheduled to be invested in the university’s endowment. He said student internships at WNDU-TV will continue.

With the acquisition of WNDU-TV and the previously announced acquisition of WSAZ-TV, the NBC affiliate serving Charleston-Huntington, W.Va., Gray will own 35 stations serving 30 television markets. The station group, which reaches about 6 percent of total U.S. TV households, has 25 stations ranked No. 1 in local news audience and 24 stations ranked No. 1 in overall audience within their respective markets. .

South Bend-Elkhart is the 87th-ranked TV market, according to Nielsen Media Research.