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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.

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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