8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) September 15, 2009

LODGENET INTERACTIVE CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware	0-22334	46-0371161
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
3900 West Innovation Street, Sioux Falls, SD		57107
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code (605) 988-1000

n/a

(Former Name or Former Address, if Changed Since Last Report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

     LodgeNet Interactive Corporation (“LodgeNet”) today issued a press release announcing that it will be presenting at the CL King Best Ideas Conference regarding its operations and business. The press release describes LodgeNet’s presentation at the conference. The PowerPoint slide presentation to be used during LodgeNet’s presentation at the conference is furnished as Exhibit 99.1. The press release regarding LodgeNet’s presentation at the conference is furnished as Exhibit 99.2.

     The information in Exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits.

     (d) Exhibits

99.1	PowerPoint Slides (furnished)
99.2	Press Release (furnished)

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 15, 2009	By	/s/ James G. Naro
		James G. Naro
	Its	Senior Vice President, General Counsel, Secretary and Chief Compliance Officer

EX-99.1

Certain statements in this presentation constitute "forward-looking statements." When used in this presentation the words "intends," "expects," "anticipates," "estimates," "believes," "goal," "no assurance" and similar expressions, and statements which are made in the future tense or refer to future events or developments, including, without limitation, our guidance for the third quarter of 2009, are intended to identify such forward-looking statements. Such forward- looking statements are subject to risks, uncertainties, and other factors that could cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: the effects of economic conditions, including general financial conditions (including those represented recently by liquidity crises, government bailouts and assistance plans, bank failures, and recessionary threats and developments); the economic condition of the lodging industry, which can be particularly affected the financial conditions referenced above, as well as by high gas prices, levels of unemployment, consumer confidence, acts or threats of terrorism and public health issues; competition from providers of similar services and from alternative systems for accessing in-room entertainment; competition from HSIA providers; changes in demand for our products and services; programming availability, timeliness, quality, and costs; technological developments by competitors; developmental costs, difficulties, and delays; relationships with customers and property owners, in particular as we reduce capital investment; the availability of capital to finance growth; compliance with credit facility covenants; the impact of governmental regulations; potential effects of litigation; risks of expansion into new markets; risks related to the security of our data systems; and other factors detailed, from time to time, in our filings with the Securities and Exchange Commission. For any of the foregoing reasons, our guidance and our actual financial results may not meet our expectations. These forward-looking statements speak only as of the date of this presentation. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

World's Largest Provider of Media & Connectivity Services to Hospitality Businesses 1.9 Million Rooms at 10,000 Properties Top 10 MSO Equivalent 85% Share of VOD-Served Market Connect, Inform & Entertain Over 500 Million Travelers Highly Interactive Audience Powerful Guest "Touch Points" in High-Definition TV & Internet LodgeNet Interactive (CHART) (CHART) (CHART) 98% 35% Guests Turn on Television "Go Interactive" "Log On" to the Internet* * Source: 2008 Zoomerang Survey 87%

Diversifying Revenues Reducing Impact of Occupancy Fluctuations Minimizing Company's Capital Requirements Generating Incremental Cash Flow Proactively Managing Business Right-Sizing Operations to Environment Managing Capital Investment Levels Increasing Free Cash Flow Reducing Leverage Enhancing Position for Economic Rebound Result: Greater Shareholder Value Strategic Focus: Enhanced Shareholder Value

10,000 Hotel Properties - 1.9 Million Rooms Worldwide Operating in US, Canada & Mexico; Licensees in 23 Countries (CHART) A Diversified Customer Base

A Diversified Customer Base Focused By Brand . . . Diversified By Decision (Based on Number of Rooms) (CHART) (CHART) 1,500+ Ownership & Management Groups

FTG VOD HD Advanced IP Broadband Advertising Since 1996 Since 1983 Since 1980's Since 1990's Long-Standing Industry Relationships Strategic Partners

Guest Entertainment Pay-Per-View Entertainment Content Sold to Hotel Guests in 1.9 Million Rooms Movies, Music, Games, Subscription Sports and More Hotel Services Cable Television Programming Sold to Hotels, Serving 1.1 Million Rooms Internet Access Services Sold to Hotels, Serving Over 220 Thousand Rooms System Sales & Related Domestic and International Sales of VOD and Internet Access Systems Professional Solutions for Professional Design, Project Management and Installation Services Advertising and Healthcare Traveler Targeted Advertising in More Than 1 Million Hotel Rooms Sale of Interactive Television Systems and Services to Healthcare Facilities Traditional & Diversified Revenues (in millions,1st 6 mo '09) $151.5 $66.1 $24.4 $8.2

Number of Hospitals (CHART) Healthcare Drivers: Patient Education Patient Safety Patient Satisfaction 40 50 (As of 9/1/09) LodgeNet Healthcare Healthcare Economics: Interactive System Sale Per Bed $1,000 - $1,500 Gross Profit Margin 30% - 40% Recurring Revenue Per Bed Per Month $25 - $35 Gross Profit Margin 30% - 40% Number of Hospitals

40% of Revenue from Strategic Growth Initiatives (CHART) * "Other" includes System Sales and Related Services, THN & Healthcare +11.1% (22.1%) +32.5% ($ in millions) $250.1 $277.2 Growth Initiatives Generate $100 Million Diversification Initiatives Buffer Recession Guest Entertainment Hotel Services Other

1st 6 Mo 2009 1st 6 Mo 2006 (CHART) (CHART) Guest Entertainment Hotel Services Other* * "Other" includes System Sales and Related Services, THN & Healthcare Increasing Impact of Diversification Based on Revenue

Reductions Driven by: Integration Synergies Cost Control Initiatives Workforce Reductions Expense Controls Right-Sizing to Environment (CHART) System Operations and SG&A $43.2 Managing Operating Expenses ($ in millions) $59.0 - - 26.8%

$38.7 Proactively Managed by: Fewer Room Installations Lower Per Room Investment Hotel Contributions Increasing Right-Sizing to Environment (CHART) $11.0 - -71.6% Managing Capital Investments ($ in millions)

On Command Acquired on 4/4/07 * 2006 2007 2008 2009 Hotels Contributing Larger Percent of Capital (Rolling Four Quarters)

$8.2 * Free Cash Flow Definition - see slide 20 $51.9 $48.1 $25.4 $7.9 Increasing Free Cash Flow* (TTM $ in millions)

($ in millions except per share) * Free Cash Flow Definition - see slide 20 Free Cash Flow Analysis*

(CHART) $486.0 *Debt, Net of Cash Accelerating Debt* Reduction (in millions)

Reducing Leverage ($ in millions) Convertible Preferred Stock Offering, June 2009 - $57.5 Million Term B Debt - Maturity April 2014

Impact of Economic Rebound on Guest Entertainment (Annualized $ in millions) GE Revenue AOCF (CHART) $40 $25 $50 $80 100% Rebound 50% Rebound * Guest Entertainment Revenue Down 22.1% for 1st 6 Months '09 Change in AOCF at Various Increases in GE Revenue

LodgeNet: Investment Summary Largest Provider with 85% VOD Market Share Recurring Revenue Based on Long-Term Contracts Diversified Revenue Opportunities: - HDTV Transition, Hotel Services, The Hotel Networks, Healthcare Proactively Managing Business Generating Increased Levels of Free Cash Flow Positioned to Capitalize on Economic Rebound

Reconciliation of Operating Income to Adjusted Operating Cash Flow Operating Income Plus: Depreciation and Amortization Plus: Amortization of Purchased Intangibles Plus: Restructuring/Organization Charges and Integration Expenses Plus: Share-Based Compensation Plus: Impairment Charge Less: Insurance Proceeds Equals: Adjusted Operating Cash Flow Reconciliation of Free Cash Flow Cash from Operations Less: Cash Used for Investing Activities, including Growth-Related Capital Equals: Free Cash Flow

Convertible Preferred Stock Issued - June 2009 57,500 Shares Issued, $53.7 Million in Net Proceeds 40% Dilution If All Shares Convert Debt Payment of $27.7 Million on July 1 Approaching Final Covenant Level of 3.50x Effective Q3 2010 (5 Quarters) Debt Term B $486.0 Matures in April 2014 LIBOR+200 bps - reduces to LIBOR+175 bps at 3.25x leverage 1% Annual Required Debt Payment - approx $1.4M per quarter Debt Covenant Ratio Changes: Q3 2009:4.00x Q1 2010: 3.75x Q3 2010 to Maturity: 3.50x Strengthened Balance Sheet ($ in millions)

** Bank AOCF = AOCF adjusted for severance payments Q3'09 Financial Guidance* * Guidance issued on July 28, 2009 **

EX-99.2

Ann Parker, Director	Mike Smargiassi
Investor Relations	Brainerd Communicators
605-988-1000	212-986-6667
ann.parker@lodgenet.com	smarg@braincomm.com

LODGENET INTERACTIVE TO PRESENT AT
THE CL KING BEST IDEAS CONFERENCE

To Discuss Progress on Strategic Initiatives Including Milestones Related to
High-Definition Television Deployments and Healthcare Contracts;
Business Model Positioned To Capitalize On Rebounding Economy

          SIOUX FALLS, SD, September 15, 2009 — LodgeNet Interactive Corporation (NASDAQ: LNET), the leading provider of media and connectivity solutions to hospitality and healthcare businesses, will present at the CL King Best Ideas Conference at the Omni Hotel in New York City on Thursday, September 17, 2009. CEO Scott C. Petersen will discuss the Company’s overall strategy and its progress on its initiatives to proactively manage its business during the economic cycle, diversify its revenue streams and increase its free cash flow. Petersen will also comment on the operating leverage inherent in its business model as the economy begins to recover.

          “During the economic downturn over the past year, our team has done an outstanding job right-sizing our operations and capital investment plans to the economic environment,” said Petersen. “Operating costs for the first six months of 2009 were down 26.8% as compared to the same period last year, and we reduced our capital investment activity by over 70% — both of which actions allowed us to increased free cash flow from $3.7 million during the first six months of last year to over $30 million this year. With the preferred stock offering we completed in June, our leverage ratio (on a net debt basis) has improved substantially from 4.2x on June 30^th one year ago to 3.7x this year.”

          “At the same time, we have continued to focus on executing on our strategic initiatives that will increase our revenue and deliver shareholder value over the long term,” stated Petersen.

Some recent highlights of these Initiatives:

• LodgeNet recently passed an industry-leading milestone of providing high-definition television (HDTV) programming to approximately 300,000 rooms, including 200,000 rooms installed with its High-Definition Advanced video on demand platform, allowing hotel guests to enjoy Hollywood movies in high definition clarity.

• Recently announced collaborative relationships with a variety of technology leaders, among them one for the LodgeNet IPTV+ platform, which incorporates the power of the Apple^® Mac Mini into the LodgeNet interactive television system.

• LodgeNet’s Healthcare division recently signed its 50^th hospital contract. Recent new contracts include prestigious Morgan Stanley Children’s, ranked among the top children’s hospitals by US News & World Report, and the award-winning Indiana Orthopaedic Hospital.

• The Hotel Networks is expanding its innovative media programming with the addition of the Japan Broadcasting Corporation’s English-speaking NHK World Channel to its SuperBlock offering as well as Luxury Explorer, which offers local interest and customized hotel programming for high-end hotel properties, as one of its Interactive Channels.

          “The Third Quarter is generally tracking in-line with our expectations,” continued Petersen. “We have seen some improvement in Guest Entertainment during the quarter but softness continues in business travel and capital spending by our hotel customers. September tends to be a difficult month to predict Guest Entertainment revenue because of the seasonal transition from leisure to business travel; however, we currently believe we will report third

LodgeNet to present at CL King Investor Conference — 2

quarter Revenue and Adjusted Operating Cash Flow at around the low end of our guidance range, while Free Cash Flow will be within our original expectations.”

          “With our strategic acquisitions in 2007 and the more efficient operational structure we now have in place, our business model has significant operating leverage which should produce benefits for our Company as hotel occupancies increase and consumer confidence returns,” concluded Petersen. “If Guest Entertainment recovers by only 50% of the decline we have experienced over the past year, annualized Revenue and Adjusted Operating Cash Flow should generally increase by $40 million and $25 million respectively, all other things remaining the same — representing a significant upside opportunity for shareholder value.”

          LodgeNet management is scheduled to present Thursday, September 17, 2009 at 2:45 pm Eastern Time. A live Webcast of the presentation and a copy of the slides will be available in the investor section of the Company’s Website (www.lodgenet.com).

About LodgeNet Interactive

LodgeNet Interactive Corporation is the leading provider of media and connectivity solutions designed to meet the unique needs of hospitality, healthcare and other guest-based businesses. LodgeNet Interactive serves more than 1.9 million hotel rooms representing 10,000 hotel properties worldwide in addition to healthcare facilities throughout the United States. The Company’s services include: Interactive Television Solutions, Broadband Internet Solutions, Content Solutions, Professional Solutions and Advertising Media Solutions. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit www.lodgenet.com.

Special Note Regarding Forward-Looking Statement

Certain statements in this press release constitute “forward-looking statements.” When used in this press release the words “intends,” “expects,” “anticipates,” “estimates,” “believes,” “goal,” “no assurance” and similar expressions, and statements which are made in the future tense or refer to future events or developments, including, without limitation, our guidance for the third quarter of 2009, are intended to identify such forward-looking statements. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: the effects of economic conditions, including general financial conditions (including those represented recently by liquidity crises, government bailouts and assistance plans, bank failures, and recessionary threats and developments); the economic condition of the lodging industry, which can be particularly affected the financial conditions referenced above, as well as by high gas prices, levels of unemployment, consumer confidence, acts or threats of terrorism and public health issues; competition from providers of similar services and from alternative systems for accessing in-room entertainment; competition from HSIA providers; changes in demand for our products and services; programming availability, timeliness, quality, and costs; technological developments by competitors; developmental costs, difficulties, and delays; relationships with customers and property owners, in particular as we reduce capital investment; the availability of capital to finance growth; compliance with credit facility covenants; the impact of governmental regulations; potential effects of litigation; risks of expansion into new markets; risks related to the security of our data systems; and other factors detailed, from time to time, in our filings with the Securities and Exchange Commission. For any of the foregoing reasons, our guidance and our actual financial results may not meet our expectations. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

LodgeNet is a registered trademark of LodgeNet Interactive Corporation. All rights reserved. Other names and brands may be claimed as the property of others.

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