0001104659-12-059252.txt : 20120821 0001104659-12-059252.hdr.sgml : 20120821 20120821162015 ACCESSION NUMBER: 0001104659-12-059252 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120821 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120821 DATE AS OF CHANGE: 20120821 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: 121047952 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 a12-18723_18k.htm 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) August 21, 2012

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 8.01. Other Information

On August 21, 2012, the Board of Directors of LodgeNet Interactive Corporation (“LodgeNet” or the “Company”) announced it had initiated a process to explore refinancing alternatives for its senior secured credit facility to address its upcoming debt maturities and tightening financial covenants. To explore and evaluate potential refinancing alternatives and other strategic alternatives, LodgeNet’s Board has retained Miller Buckfire & Co., a leading New York-based investment banking and capital markets firm. In addition to retaining Miller Buckfire, LodgeNet has also retained FTI Consulting, a nationally-recognized operations and financial advisory firm with significant experience in the media and hospitality industries, to collaborate with the company in developing its business plan.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1

Press Release dated August 21, 2012

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: August 21, 2012	By	/s/ James G. Naro
		James G. Naro
	Its	Senior Vice President, General Counsel, Secretary and Chief Compliance Officer

EX-99.1 2 a12-18723_1ex99d1.htm EX-99.1

Exhibit 99.1

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

ii.

iii.

LODGENET LAUNCHES PROCESS TO EXPLORE STRATEGIC AND REFINANCING ALTERNATIVES

SIOUX FALLS, SD, August 21, 2012 — LodgeNet Interactive Corporation (NASDAQ: LNET), the leading provider of interactive media and connectivity services to hospitality and healthcare businesses and the consumers they serve, announced today that it has initiated a process to explore refinancing alternatives for its senior secured credit facility to address its upcoming debt maturities and tightening financial covenants. To explore and evaluate potential refinancing alternatives and other strategic alternatives, LodgeNet’s Board has retained Miller Buckfire & Co., a leading New York-based investment banking and capital markets firm. In addition to retaining Miller Buckfire, LodgeNet has also retained FTI Consulting, a nationally-recognized operations and financial advisory firm with significant experience in the media and hospitality industries, to collaborate with the company in developing its business plan.

“We believe the retention of Miller Buckfire and FTI Consulting comes at an opportune time for LodgeNet,” said Phillip Spencer, LodgeNet’s interim President and Chief Executive Officer. “Their activities will support our ongoing efforts to streamline our operations, improve customer satisfaction, and to stabilize our room base and revenues.” Frank Elsenbast, LodgeNet Senior Vice President and Chief Financial Officer added, “The involvement of these industry-leading firms will assist us in the evaluation and negotiation of various financial proposals as well as confirmation and optimization of our business planning efforts. While we continue to explore ways to reduce debt, LodgeNet’s base business is generating significant free cash flow, and as of August 21st, we have more than $27 million of liquidity available to support the business.”

About LodgeNet

LodgeNet Interactive Corporation is the leading provider of interactive media and connectivity services to hospitality and healthcare businesses and the consumers they serve. Recently named by Advertising Age as one of the Leading 100 US Media Companies, LodgeNet Interactive serves approximately 1.6 million hotel rooms worldwide in addition to healthcare facilities throughout the United States. The Company’s services include: Interactive Television, Broadband and Advertising Media Solutions along with nationwide technical and professional support services. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, The Hotel Networks and LodgeNet Healthcare. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit www.lodgenet.com.