LodgeNet (LNET) CEO Battista Says 'Ciao!'

LodgeNet Interactive Corporation (OTCBB: LNET)that Rich Battista will depart as President, CEO and director of the Company as of January 16, 2013. Frank Elsenbast, the Company's CFO, and James Naro, the Company's General Counsel, have been appointed interim co-CEOs.

During his tenure, Battista successfully guided LodgeNet through a strategic review process that recently concluded with the announced $60 million recapitalization plan with an investor syndicate led by Colony Capital. The recapitalization is designed to place LodgeNet on a path to revitalize its business and balance sheet, while delivering strong cash flow. The recapitalization also includes a five-year extension of the Company's secured credit facility with its lenders.

As co-CEOs, Messrs. Elsenbast and Naro will oversee the completion of the previously announced transaction through the court-supervised process. Upon closing of the transaction, the Company will be appointing a new CEO.

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