The parent of Lincoln S&L; settled a dispute.

The Irvine-based thrift will realize a profit of about $50 million on its investment in Gulf Broadcasting of Dallas, according to its parent company, American Continental of Phoenix. Gulf, in which Lincoln held a 25% stake, had agreed to sell most of its assets to Taft Broadcasting. American Continental sued in an Ohio court seeking to block part of the sale process. Gulf sued Lincoln’s chairman, Charles H. Keating Jr., accusing him of bribery, extortion and insider trading. Under the settlement, all lawsuits are dropped and Gulf will pay Lincoln $10.9 million in addition to the profit Lincoln will realize from the sale of its 25% stake.