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Lincoln's ABC affiliate will soon have a new owner.

Standard Media Group said Thursday that it has agreed to acquire KLKN-TV and an ABC affiliate in Providence, Rhode Island, from Citadel Communications.

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The deal is subject to regulatory approval and is expected to close in the fourth quarter.

The two stations were the last two network-affiliated ones owned by Citadel. Standard Media, which is based in Nashville, Tennessee, paid $83 million for the two properties.

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Business editor/reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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