Thanks, they are so worthless.

Dirkie: When a BK Judge cancels the common shares when the plan of reorganization is made effective those shares no longer exist. The reorganized company may issue new common equity shares but the former common shares that were cancelled have no stake in the new equity.

What happens now with the shares of LNETQ?
Negotiable back with another ticker?

4/11/2013



--------------------------------------------------------------------------------


Former Activision Executive to Guide Corporate Policy
And Business Affairs at LodgeNet

LodgeNet Interactive Corporation, the leading provider of interactive content
and connectivity solutions to hospitality and healthcare businesses and the consumers they serve, has named George L. Rose as Chief Legal Officer.

Mr. Rose, formerly Chief Legal Officer of Activision Blizzard, Inc., will lead LodgeNet’s corporate legal and business affairs and provide the framework for the Company’s compliance and security policies. He will also take an active
part in leading the company’s continuing expansion into the healthcare industry.

“George’s expertise in finance, content and technology licensing, and M&A
law – as well as his general business and legal experience – will be invaluable as LodgeNet evolves to meet the needs of today’s customer,” said Michael Ribero, LodgeNet CEO. “As a key member of the Activision team that guided
the company through reorganization to become the largest and most profitable entertainment software company in the world, we believe George will help us do the same at LodgeNet.”

“I look forward to helping build a strong foundation upon which we can grow the business to its full potential in the coming years,” Rose stated. “This is a truly unique opportunity made all the more compelling by the inroads LodgeNet has made in healthcare, for which I have a strong personal affinity. I am excited to be part of reinventing this company to further enhance its entertainment, connectivity and specific vertical market capabilities in both the hospitality and healthcare spaces.”

Mr. Rose has been a practicing attorney, businessman, entrepreneur and consultant for nearly 27 years. After starting his career in private practice with several prominent law firms specializing in corporate and entertainment law, he joined Activision in the 1990s where he served a number of roles including Executive Vice President, Chief Public Policy Officer and Chief Legal Officer.
He graduated from the University of Michigan and Harvard Law School.

LodgeNet was recently acquired by a syndicate of investors led by Colony Capital LLC, a global real estate investment firm and one of the largest investors in hospitality assets.

LodgeNet Names Hotel Industry Veteran Thomas W. Storey as President of Hospitality
April 4, 2013

Private Placement Security Changes 4/1/2013 12:00:00 AM


SECURITY DELETIONS
Updated Symbol Company Name Effective Date Unit of
Trade Comments
10:43 LNTEQ LodgeNet Interactive Corporation PERP PFD CONV SER B 10% 144A 4/1/2013 100 Plan of bankruptcy effecitve. Shares have been cancelled. Deletion time: 10:36:20**

LNETQ: Plan of Bankruptcy effective. Shares have been cancelled. Deletion time: 10:36:58

http://www.otcbb.com/asp/dailylist_detail.asp?d=04/01/2013&mkt_ctg=NON-OTCBB

10K http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9185865

Get ready. LNETQ taking off soon.

Get ready. LNETQ taking off soon.

A partnership with DirectTV? Does that make sense? Wouldn't it be cheaper and even make money for DirectTV if they just bought LNET???

LNETQ-0.0283-volume 2176000 !! UP!

Good luck

When AAMRQ was at $0.3, lots of people said so, then it went to $2.9 short time. LNET, with just 26 m S/O and high as $4.5, it'll run much higher.

POS

LNETQ, S/O: 26 M, was high as $4.5 in 2012 and filed bk on Jan 28 and delisted from NASDAQ.

Its current market cap. are just $500k with 26 m S/O at $0.02. Extremely low!

Citigroup financial Inc. holding 2.2 million shares at dollars since last year. They won't let their big money gone so easily.

Company info.

http://www.otcmarkets.com/stock/LNETQ/company-info

Citigroup holding:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9050727

Bought AAMRQ (S/O: 335 M ) at $0.80's and now it's $2.6. LNETQ might be easy to run to $0.10 -$0.20's fast.

LNETQ, will run like AAMRQ which going to $2.9 from $0.3 lately?

M1999 seen you were moderator on GLER. Is that stock for real or is it a scam. TIA

LNETQ 0.0193 x 0.0250 ! What's wrong?

LNET changed to LNETQ:

http://www.otcbb.com/asp/dailylist_detail.asp?d=01/28/2013&mkt_ctg=NON-OTCBB

Probably because the common shares will eventually be erased.

We all new about it a few weeks ago. Why pps is so low? You will see at least 100% bounce...twice

First of all, it's spelled morons not morans. Secondly, they are selling the business to another company...commons will be wiped out. Thirdly, LNET will become LNETQ soon(maybe tomorrow), and sometimes there are issues with people not being able to sell their shares until their broker fixes the ticker so they are probably getting out early.

I thought it was good news, don't understand why it's down so much though???

Great News for LNET. Morans didn't understand this PR and sold shares today morning. It will be back in no time

I have some stocks left with LNET. So should i sell all now or hold it? Tks

good news for LNET !

LNET- LodgeNet Files Prepackaged Chapter 11 to Advance Recapitalization Process Led by Colony Capital

SIOUX FALLS, S.D., Jan. 28, 2013 /PRNewswire/ -- LodgeNet Interactive Corporation (OTCBB: LNET) today announced that it has commenced a prepackaged Chapter 11 process in the Southern District of New York in order to effect a recapitalization in which a syndicate of investors led by Colony Capital will invest $60 million in LodgeNet, all as previously announced.

(Logo: http://photos.prnewswire.com/prnh/20080115/AQTU120LOGO)

Throughout this process, LodgeNet's business operations will continue in the normal course, and current hospitality and healthcare customers will continue to receive services without interruption.

Under the terms of the plan, LodgeNet's existing lenders will provide for a multi-year extension of its existing senior debt and unsecured creditors of LodgeNet will be paid in full in cash for any prepetition claims at the conclusion of the restructuring process.

LodgeNet has secured overwhelming support from its lenders, having received lenders' votes in excess of the amounts needed for the court to approve its plan of reorganization.

"Our recapitalization is advancing on schedule," commented LodgeNet co-CEOs Frank Elsenbast and James Naro. "Thanks to the overwhelming support we've received from our lenders and suppliers, and with the solid commitment of Colony Capital and an expanded strategic partnership with DIRECTV, we anticipate being able to complete this process on an expedited basis, and to emerge with the capacity to launch new and exciting products which will benefit both our hospitality and healthcare customers."

The Company also negotiated a debtor-in-possession (DIP) facility from certain of its existing lenders providing for up to $15 million in new financing which, subject to the approval of the court, makes funds available to satisfy the customary obligations of LodgeNet's business during the course of the restructuring process.

Pursuant to the contemplated plan of reorganization, holders of the existing Series B Preferred Stock and common stock issued by LodgeNet Interactive will have their interests cancelled and will not receive any distributions.

The Company expects to complete its restructuring within 60 days.

Additional information can be found at www.kccllc.net/lodgenet .

Miller Buckfire & Co. LLC, a wholly-owned subsidiary of Stifel Financial Corp., FTI Consulting, Inc. and Moorgate Securities LLC served as financial advisors to LodgeNet; Weil, Gotshal & Manges LLP acted as restructuring legal counsel; and Leonard, Street and Deinard acted as corporate legal counsel to the Company. Akin Gump Strauss Hauer & Feld LLP and CDG Group, LLC acted as advisors to the agent for the lenders.

About LodgeNet
LodgeNet Interactive 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 1.5 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 owns and operates businesses under the industry leading brands: LodgeNet, The Hotel Networks and LodgeNet Healthcare. For more information, please visit www.lodgenet.com.

LodgeNet and the LodgeNet logo are registered trademarks of LodgeNet Interactive Corporation. All rights reserved.

SOURCE LodgeNet Interactive Corporation


Copyright 2013 PR Newswire

Accumulation at this level go on

Shorts will have to cover. PPS went down to fast. This stock will be trading many months under bankrupcy.

Anyone got an answer to these questions: how's it possible that management can agree to sell the company without shareholder approval? Even if the company files bankruptcy, wouldn't the bankruptcy court at least require an auction to be held so that the estate can be sure it's getting the maximum value for the assets? Or is it the case that BK can be used as a means to screw shareholders and sell the company cheap? Why did the company not just do a rights issue to recapitalize, thereby giving current shareholders a chance at retaining their investment? Too many questions around this deal, something doesn't smell right.

Weird anyway! Usually this type of "Q" quickly dropped to 0.001 then
a quick bounce. However it is trading at $0.015 ~ $0.03 and near $1M MV!

Maybe because there's a chance the deal won't go through. Remember the company still has to file bankruptcy and the deal has to be approved by a bankruptcy court. The fact that they haven't yet filed bankruptcy probably means they haven't yet got all creditors to agree to the deal.

Thanks, Mike! I'm wondering why people are buying a soon-be-canceled
Q at such ridiculous high MV which means unlimited (100% loss) risk?

See the last fillings. What I posted was extracted from one of them.

It's done deal; nothing new, screw the shareholders, as usual. From the same filling:

Newbie question: How's it possible that such a transaction can go through without shareholder approval? I expect that shareholders will be suing management for trying to sell out the company from under them? Someone please enlighten. TIA

When will the company cancel all the common shares? Why people spent
tens of thousands of dollars to buy a soon-be-canceled stock at such
ridiculous high MV ($403K ~ $805K) today?

Predicting the trading range of .008 to .04 on first day in OTC.

I think it'll close between .01 and .02.

Pursuant to the contemplated Chapter 11 filing, holders of the existing Series B Preferred Stock and common stock issued by LodgeNet Interactive will have their interests cancelled and will not receive any distributions.

Mike

LNET:

http://www.otcbb.com/asp/dailylist_detail.asp?d=01/11/2013&mkt_ctg=NON-OTCBB

Delisting on Jan 14, Will trade in OTC afterwards.

Delisting coming soon ??

LNET Obtains Extension on its Forbearance Agreement with Lenders - Reuters (Fri 4:50PM EST)

"The company has received an extension on its
forbearance agreement with its secured lenders who have
agreed to accept these payments in kind and not to accelerate their claims until Feb. 5, 2013." (Reuters, Fri 4:50PM EST)

ALSO

"LodgeNet and the Colony Syndicate have agreed to implement this transaction via an expedited Chapter 11 proceeding which would commence once the requisite consents of its lenders have been obtained."

"In order to provide LodgeNet time to solicit votes on the proposed Chapter 11 plan, DIRECTV, HBO and the steering committee of lenders have agreed to extensions of their existing forbearance agreements."

"Closing of the transaction is subject to various closing conditions, including Bankruptcy Court confirmation of a Chapter 11 Plan. Accordingly, no assurances can be given that the transaction will be consummated." (PR Newswire - Dec. 31, 2012, 9:00 AM EST)

So, the question is "How long will it take LNET to secure the necessary lender votes?" Sometime between now and Feb. 5th....

LNET~~The transaction will be implemented through an expedited Chapter 11 bankruptcy process, at the conclusion of which the Colony Syndicate would become the controlling stockholder of the Company. The plan of reorganization envisions that unsecured creditors of LodgeNet will be paid in full for any pre-petition claims at the conclusion of the Chapter 11 process.

Colony has also executed a memorandum of understanding with DIRECTV, LLC., setting forth certain terms pursuant to which LodgeNet and DIRECTV intend to operate as strategic partners within the hospitality and healthcare markets. As part of the expanded partnership between the two companies, DIRECTV will provide its world-class operational, technological and marketing capabilities to help deliver new and improved LodgeNet services to the industry.

Importantly, throughout this process, LodgeNet's current hospitality and healthcare customers will continue to receive LodgeNet's entertainment and connectivity services, as well as ongoing maintenance and support, without interruption.

Under the terms of these agreements, the Colony Syndicate will receive new common stock representing 100 percent ownership of LodgeNet. The Colony Syndicate's investment and the new credit agreement provide added financial flexibility, while Colony Capital's industry experience and DIRECTV's new contributions will ensure LodgeNet's continued market leadership as it works with customers to offer the best in-room entertainment and connectivity services available today.

The Company has also entered into a plan support agreement with a steering committee of its lenders holding its outstanding senior debt, pursuant to which the lenders have agreed to support the Colony Syndicate's transaction and the proposed amendment and extension of the credit agreement with its lenders, and to vote in favor of the Company's proposed plan of reorganization. The Company has also received a commitment for a debtor-in-possession (DIP) loan from certain of its lenders that would provide up to $15 million in financing, providing additional liquidity during this process.

In order to provide LodgeNet time to solicit votes on the proposed Chapter 11 plan, DIRECTV, HBO and the steering committee of lenders have agreed to extensions of their existing forbearance agreements.

"As one of the largest investors in hospitality and media enterprises around the globe, and with a strong track-record of success, Colony Capital brings an unmatched combination of strategic acumen and financial resources to LodgeNet and its industry-leading footprint of 1.5 million hotel rooms," said LodgeNet Interactive chairman Doug Bradbury. "Under Colony's leadership, LodgeNet is poised to transform its business through renewed financial strength, the introduction of new and innovative products and services, and strengthened industry relationships, thus re-affirming its position as the leading provider of interactive services to the hospitality and healthcare industries."

LodgeNet and the Colony Syndicate have agreed to implement this transaction via an expedited Chapter 11 proceeding which would commence once the requisite consents of its lenders have been obtained. Concluding the recapitalization in a controlled, court-supervised environment will allow LodgeNet to continue operating without interruption, address short-term liquidity issues, complete the Colony Syndicate's transaction, and amend the credit agreements with its lenders.

"As evidenced by our investments in hospitality, media and entertainment, we believe in these markets, and with LodgeNet positioned at the crossroads of all three, this opportunity is tailor-made for Colony Capital," commented Richard Nanula, Principal at Colony Capital. "We look forward to leveraging our experience and key industry relationships to drive change at a critical time for the company and the industries it serves. Together with DIRECTV and our hospitality and healthcare customers, we are committed to building on the company's position as the preeminent provider of commercial entertainment and connectivity services, as we believe strongly that for LodgeNet, the future is now."

Pursuant to the contemplated Chapter 11 filing, holders of the existing Series B Preferred Stock and common stock issued by LodgeNet Interactive will have their interests cancelled and will not receive any distributions.

The recapitalization is designed to enable a restructured LodgeNet Interactive to emerge from Chapter 11 on a standalone basis with strong cash flow and a solid balance sheet.

Key terms of the recapitalization include:
•The Colony Syndicate will invest $60 million in exchange for all of the new shares of common stock of LodgeNet Interactive;
•LodgeNet's existing Credit Agreement will be amended to provide an extension in the form of a 5-year term loan in an aggregate amount equal to (i) $346.4 million plus (ii) the amount of accrued and unpaid interest that was capitalized prior to the Closing Date;
•Based on the terms of the recently executed memorandum of understanding between Colony and DIRECTV, LodgeNet and DIRECTV will enter into a new agreement pursuant to which they will work under an expanded new strategic partnership, far exceeding the scope of the parties' current free-to-guest programming agreement, to include DIRECTV branding, programming and content, advertising, and support across all facets of operations, infrastructure and technology. This strategic partnership is expected to enhance the experience for new and existing hotel and healthcare customers, improve service capabilities and provide additional promotional options that will reduce or eliminate capital requirements within the industry.

Closing of the transaction is subject to various closing conditions, including Bankruptcy Court confirmation of a Chapter 11 Plan. Accordingly, no assurances can be given that the transaction will be consummated.

Miller Buckfire & Co. LLC, a wholly-owned subsidiary of Stifel Financial Corp., FTI Consulting, Inc. and Moorgate Securities LLC served as financial advisors to LodgeNet, Weil, Gotshal & Manges LLP acted as restructuring legal counsel and Leonard, Street and Deinard acted as corporate legal counsel to the Company. Guggenheim Securities, LLC served as financial advisor to Colony Capital, and Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP and Sullivan & Cromwell LLP provided legal counsel. Akin Gump Strauss Hauer & Feld LLP and CDG Group, LLC acted as advisors to the agent for the lenders.

About LodgeNet

LodgeNet Interactive 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 1.5 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 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.

LodgeNet and the LodgeNet logo are registered trademarks of LodgeNet Interactive Corporation. All rights reserved.

About Colony Capital LLC

Founded in 1991 by Chairman and Chief Executive Officer Thomas J. Barrack, Jr., Colony Capital is a private, international investment firm focusing primarily on debt and equity investments in real estate-related assets and operating companies. The firm has invested $48 billion in over 19,000 assets/loans through various corporate, portfolio and complex property transactions. Colony has been one of the largest owners of hospitality assets in the world with investments in Fairmont Raffles Hotels International, Accor, Amanresorts and dozens of individual hotels globally. Colony's investments have also included the legendary integrated resort Costa Smeralda on Sardinia, the award-winning hospitality platform sbe, the conversion of the Mayfair Hotel in New York to the luxury condo 610 Park Avenue, the Savoy Hotel Group's five-star hotels in the UK, the five-star Stanhope Hotel in New York, The Orchid at Mauna Lani in Hawaii and the La Tour private hospital group.

Colony is also an active investor in the media and entertainment space and the firm's portfolio currently includes Miramax, the global film and television studio with a 700-plus film library that holds some of the world's most original and acclaimed independent films. Colony has a team of more than 250 and is headquartered in Los Angeles, with offices in New York, Boston, Scottsdale, London, Madrid, Paris, Rome, Beirut, Hong Kong, Seoul and Taipei. For more information, visit www.colonyinc.com.

LNET~~http://photos.prnewswire.com/prnh/20080115/AQTU120LOGO

LNET~~Lodgenet Interactive Corp. (MM) (NASDAQ:LNET)
Historical Stock Chart

1 Month : From Dec 2012 to Jan 2013


SIOUX FALLS, S.D., Dec. 31, 2012 /PRNewswire/ -- LodgeNet Interactive Corporation (Nasdaq: LNET) ("LodgeNet" or the "Company") today announced that it has entered into a definitive agreement with a syndicate formed by an affiliate of Colony Capital (herein "Colony Syndicate"), a global investment firm with $38 billion in assets under management and a broad range of hospitality and media industry investments, pursuant to which the Colony Syndicate will provide $60 million of new capital to support a proposed recapitalization of the Company. In addition, the Company has received support from a steering committee of its lenders holding its debt for a multi-year extension of its existing $346 million secured credit facility.

LNET~~LodgeNet Agrees To $60 Million Recapitalization With Global Investor Colony Capital

LNET @ .05!

i hope so...

LNET @ .0449!
Chart: