Standard Media to acquire two Citadel TV stations including KLKN TV

Pictured above:  #1 Citadel CEO Phil Lombardo with KLKN TV news anchors Megan Conway and Rod Fowler. #2 Lombardo with long-time management and employees.  

Standard Media Group LLC and Citadel Communications LLC jointly announced today that they have reached an agreement to allow Standard Media to acquire Citadel’s two ABC Affiliates in Lincoln, NE (KLKN) and Providence, RI (WLNE.)

“We are excited to work with the talented teams in Lincoln and Providence to grow the business with a strong focus on high quality local news, said Deb McDermott, Standard Media’s CEO. “We look at this acquisition as the first of many as we work to create a new competitive player in the consolidating broadcast TV industry.  I am honored that Phil Lombardo has chosen us to take WLNE and KLKN forward.  He has been a long-time friend and mentor to me and his contributions to the broadcast industry have truly helped to make it what it is today.”  

“It is gratifying to sell our remaining ABC stations to someone with whom I have enjoyed a long professional relationship and who also has unique experience and insights in both markets,”  Citadel’s CEO Phil Lombardo said.  “I am confident that our deal will serve as a catalyst for Standard Media’s plans to build a new, large station group.”

The transaction is subject to regulatory approval and other customary closing conditions.  The transaction is expected to be completed in the fourth quarter of this year.