The owner of WABI-TV 5 in Bangor has entered into an agreement to sell the station to Gray Television, an Atlanta-based communications company.

WABI announced on Thursday that Diversified Communications, the station's current owner, has sold the station to Gray, which owns 100 television stations in 54 television markets across the nation.

In Maine, Gray owns WAGM in Presque Isle.

The $85 million deal also includes WABI's sister station, WCJB, in Gainesville, Fla.

The sale is expected to be final within 12 weeks pending approval by the Federal Communications Commission.