SIOUX FALLS, S.D., Nov. 19, 2010 /PRNewswire-FirstCall/ -- LodgeNet
Interactive Corporation (Nasdaq: LNET) today announced the addition
of Edward L. Shapiro to its Board of
Directors. With the appointment of Mr. Shapiro, LodgeNet
increases the size of its Board to nine directors. Mr. Shapiro will
stand for election by the stockholders at the time of the Company's
2011 Annual Meeting.
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Mr. Shapiro is a partner at PAR Capital Management,
Inc., a Boston-based investment
management firm specializing in investments in travel, media and
Internet-related companies. Prior to joining PAR Capital in
1997, Mr. Shapiro was a Vice President at Wellington Management
Company, LLP and before that an Analyst at Morgan Stanley & Co.
PAR Capital has been a long-time investor in LodgeNet,
currently holding both common and preferred stock.
"Ed Shapiro is an astute and
analytical investor with substantial expertise in creating value
within travel, media and technology businesses," said Scott C. Petersen, Chairman and CEO of LodgeNet.
"We are extremely pleased to welcome Ed to our Board. He will
be a great resource for our company as we continue to build upon
our leadership position in providing media and connectivity
solutions for hospitality and healthcare businesses."
"I have followed LodgeNet since its IPO in 1993 and I am
extremely proud to join its Board of Directors," said Shapiro.
"LodgeNet is in the midst of an exciting transformation and I
am eager to begin working with the Board and management to help
achieve its goals."
Mr. Shapiro is currently on the board of three private
companies: Legend 3-D, a leading digital media technology company,
Row 44, an in-flight broadband company and Lumexis Corp, a
manufacturer of advanced in-flight entertainment and connectivity
systems. Mr. Shapiro is also on the Trust Board for Children's
Hospital Boston. He previously served on the board of US Airways
from 2005-2008. Mr. Shapiro earned his BS in
economics from the University of
Pennsylvania's Wharton School in 1986 and an MBA from
UCLA's Anderson
School of Management in 1990.
About LodgeNet
LodgeNet Interactive Corporation is the leading provider of
media and connectivity solutions designed to meet the unique needs
of hospitality, healthcare and other guest-based businesses.
LodgeNet Interactive serves approximately 1.9 million hotel rooms
worldwide in addition to healthcare facilities throughout
the United States. The Company's
services include: Interactive Television Solutions, Broadband
Internet Solutions, Content Solutions, Professional Solutions and
Advertising Media Solutions. LodgeNet Interactive Corporation owns
and operates businesses under the industry leading brands:
LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive
is listed on NASDAQ and trades under the symbol LNET. For more
information, please visit www.lodgenet.com.
Certain statements in this press release constitute
"forward-looking statements." When used in this press release, the
words "will," "expects," "anticipates," "estimates," "believes,"
"goal," and similar expressions, and statements which are made
in the future tense or refer to future events or developments are
intended to identify such forward-looking statements. Such
forward-looking statements are subject to risks, uncertainties and
other factors that could cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
SOURCE LodgeNet Interactive Corporation