If you've been holding your breath waiting deep into the night to learn the fate of ABC's "Nashville," you can breathe and you can go to bed happy.

It was finally announced late on Friday (May 9) night that "Nashville" has been picked up for a third season. Since the news for "Nashville" was good, those involved with the musical drama probably won't sweat that they were one of ABC's very last shows to find out its fate.

As of nearly 10 p.m. PT on Friday night, "Last Man Standing" is possibly the only show still hovering on ABC's bubble.

In live numbers, "Nashville" has struggled in its second season, averaging only 5.4 million viewers and a 1.5 rating among adults 18-49 and even those aren't figures it has approached for most of the spring. However, Live+7 DVR figures give "Nashville" a strong 54 percent bump overall and a whopping 80 percent lift in the key demographic.

In addition, "Nashville" continues to offer ABC, ABC Studios and Lionsgate Television a tantalizing assortment of ancillary revenue streams. The show has released a quartet of soundtrack albums, with a mini-tour featuring cast members to support the latest CD.

Per reports, a major hold-up in recent weeks has been money. Shocking, eh? Tennessee's state legislature passed a trimmed budget that reduced the money in the state's film incentives fund. And without those state breaks, the expensive show was becoming problematic for the network and studio. There were even rumors that "Nashville" might pick up and move production to Austin.

It appears, however, that the key complications were worked out by Friday night, meaning we'll get another season of crooning, boozing, secrets, mommy issues, lies, romantic musical chairs and all of the things that make "Nashville" fun.

You relieved to have "Nashville" back?