The changes will begin to take place after private equity firm Colony Capital completes its acquisition of LodgeNet Interactive, part of a pre-packaged Chapter 11 that’s expected to wrap up later this month. At that point DirecTV will participate in what the companies call “an expanded strategic relationship” to improve LodgeNet’s interactive TV and broadband services which go to 1.4M hotel and hospital rooms in the U.S. and Canada. The No. 1 satellite company will provide LodgeNet’s customers with “upgraded products and services” and receive warrants that it can use to buy up to 2.5% of the restructured LodgeNet. The arrangement will provide customers with “a unique financing program to facilitate upgrades to HDTV service at little or no out-of-pocket capital expense.” In addition, LodgeNet plans to offer additional a la carte programming, exclusive content, and DirecTV’s NFL Sunday Ticket. LodgeNet’s user interface will resemble DirecTV’s, and the satellite company will provide support for operations and customers. READ MORE »
LodgeNet says that hotels, hospitals and other institutions that receive its interactive TV programming and broadband services will continue to do so “without interruption.” It has negotiated a $15M debtor-in-possession financing plan with some of its existing lenders. If the …
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