Deals
LodgeNet Files for Bankruptcy With $60 Million Investment
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LodgeNet Interactive Corp. filed for bankruptcy protection with plans to be taken over by affiliates of Colony Capital LLC, which will invest $60 million and work with DirecTV to provide on-demand movies to hotel rooms.
LodgeNet had about $292 million in consolidated assets and about $449 million in consolidated debt as of Sept. 30, 2012, according to court papers filed yesterday in U.S. Bankruptcy Court in New York. LodgeNet reported consolidated revenue of about $379 million for the 12 months ended Sept. 30, according to court papers.