|Type||Public (NASDAQ: LNET)|
|Founded||1980 (as Satellite Movie Company)|
|Headquarters||Sioux Falls, South Dakota|
LodgeNet Interactive Corporation ("LodgeNet") is a provider of media and connectivity solutions for hospitality, healthcare and other guest-based businesses. LodgeNet provides digital video on demand (VOD) solutions, broadband Internet solutions, satellite TV and professional services to approximately 10,000 properties representing more than 1.9 million rooms around the world. LodgeNet is headquartered in Sioux Falls, South Dakota and has facilities in Denver, Colorado and Atlanta, Georgia. The company's primary customer base is in the continental United States, however they also deliver services to hotels and healthcare facilities in Canada, Mexico and more than 20 other countries through relationships with local licensees.
LodgeNet was founded in 1980 as Satellite Movie Company. In 1991, they were renamed LodgeNet Entertainment Corporation and became a publicly traded corporation in 1993. LodgeNet purchased The Hotel Networks, On Command, and Stay Online corporations in 2006 and 2007, and changed its name to LodgeNet Interactive Corporation in 2008.
Through its LodgeNet Healthcare division, LodgeNet also offers the LodgeNetRX Interactive Patient Television System to healthcare facilities wanting to enhance patient education, increase staff efficiencies and improve the in-room experience for patients and their visitors.
LodgeNet announced it would file for bankruptcy on December 31, 2012. LodgeNet will gain access to $60 million of new capital under a prepackaged Chapter 11 bankruptcy petition that gives control of the company to investment firm Colony Capital. On January 28th, 2013 LodgeNet announced it would proceed with the bankruptcy.
LodgeNet said a steering committee of its lenders also granted a multiyear extension of its existing $346 million secured credit facility and agreed to vote in favor of the company's proposed reorganization plan.
Colony has signed a memorandum of understanding with DirecTV under which LodgeNet and DirecTV will operate as strategic partners within the hospitality and health-care markets. The agreement extends the parties' current free-to-guest programming agreement to include DirecTV branding, programming and content, advertising and other operational support.
- Warner, Melodie (2012-12-31). "LodgeNet Files for Chapter 11; Colony Capital Invests $60 Million for Control". The Wall Street Journal. Retrieved 2 January 2013.