TITLE

LODGENET ON THE MOVE

PUB. DATE
January 2007
SOURCE
Lodging Hospitality;1/1/2007, Vol. 63 Issue 1, p54
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the move of LodgeNet to acquire its chief rival On Command Corp. and high-speed Internet access provider StayOnline. LodgeNet has agreed to acquire all the stock of OnCommand for $380 million, $332 million of that in cash and the rest in stock. LodgeNet has acquired StayOnline for $15 million in cash, which is expected to close in the first quarter of 2007. OnCommand provides interactive media services to about 830,000 North American hotel rooms, while, LodgeNet provides interactive TV and broadband services to about 6,000 hotel properties worldwide. According to LodgeNet president and Chief Executive Officer (CEO) Scott Petersen, all existing OnCommand contracts will be honored.
ACCESSION #
23788582

 

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