0000950123-11-023825.txt : 20110310 0000950123-11-023825.hdr.sgml : 20110310 20110309214358 ACCESSION NUMBER: 0000950123-11-023825 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110309 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110310 DATE AS OF CHANGE: 20110309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LODGENET INTERACTIVE CORP CENTRAL INDEX KEY: 0000911002 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATION SERVICES, NEC [4899] IRS NUMBER: 460371161 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22334 FILM NUMBER: 11676593 BUSINESS ADDRESS: STREET 1: 3900 W. INNOVATION STREET CITY: SIOUX FALLS STATE: SD ZIP: 57107-7002 BUSINESS PHONE: (605)-988-1000 MAIL ADDRESS: STREET 1: 3900 W. INNOVATION STREET CITY: SIOUX FALLS STATE: SD ZIP: 57107-7002 FORMER COMPANY: FORMER CONFORMED NAME: LODGENET ENTERTAINMENT CORP DATE OF NAME CHANGE: 19931014 FORMER COMPANY: FORMER CONFORMED NAME: LNET INC DATE OF NAME CHANGE: 19930820 8-K 1 c63481e8vk.htm FORM 8-K e8vk
 
 
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) March 9, 2011
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 (Nasdaq: LNET) issued a press release today entitled, “LodgeNet Announces Launch of Credit Facility Amendment,” which is filed herewith as Exhibit 99.1 and is incorporated by reference into this Item 7.01.
     The information included herein shall not be deemed to be “filed” for purposes of Section 18 of the Securities Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filing pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such filing.
Item 9.01.   Financial Statements and Exhibits.
  (d)   Exhibits
         
  99.1    
Press Release dated March 9, 2011

 

 

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: March 9, 2011  By   /s/ James G. Naro    
    James G. Naro   
  Its   Senior Vice President, General Counsel, Secretary and Chief Compliance Officer   
 

 

EX-99.1 2 c63481exv99w1.htm EX-99.1 exv99w1
Exhibit 99.1
CONTACT:
Ann Parker
Director of Corporate Communications
LodgeNet Interactive Corporation
605-988-1000
communications@lodgenet.com
LODGENET ANNOUNCES LAUNCH OF CREDIT FACILITY AMENDMENT
     SIOUX FALLS SD, March 9, 2011 — LodgeNet Interactive Corporation (NASDAQ: LNET), the leading provider of media and connectivity solutions to hospitality and healthcare businesses, announced today that it is seeking to amend its existing Credit Facility. The proposed amendment will modify certain terms of the existing Credit Facility, including an increase in the permitted leverage under the Facility, the creation of a specific preferred stock dividend payment basket, and the potential to extend the term of the Credit Facility beyond its current expiration in April, 2014. The proposed amendment will also reduce the commitments under the Company’s Revolving Credit Facility, increase the interest rate and required amortization under the Facility and adjust other covenants. The Company is and has remained in full compliance with all of its Credit Facility covenants since obtaining the Credit Facility in April 2007.
“We have proactively managed our business through the recession by diversifying our revenue base, significantly increasing our free cash flow and decreasing our outstanding debt by more than one-third over the past two years,” said Scott C. Petersen, Chairman and CEO. “As we enter 2011, we are experiencing strong interest in our High Definition interactive television systems and, in particular, our next generation Envision platform. These systems provide state of the art media services to our hotel partners and strong financial returns to LodgeNet. Therefore, we believe it is in the best interest of both our debt and equity investors to increase our flexibility to invest more of our operating cash flow into the rollout of our HD platform and other growth initiatives at our best hotels throughout North America. In addition, the creation of a specific dividend basket will allow LodgeNet to continue to pay quarterly dividends on our Series B Preferred shares.”
About LodgeNet
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 approximately 1.8 million hotel rooms 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.” Forward looking statements (whether express or implied) include the anticipated completion of an amendment to our Credit Facility on favorable terms and acceptance by the requisite lenders, and market acceptance of our HD interactive television systems and next generation Envision platform. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause the actual audited results to be materially different from the results, expressed in such forward-looking statements. These risks include those set forth in our reports filed with the SEC and our ability to remain in compliance with the terms of the amended Credit Facility. 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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