MCNBRIEFS

LodgeNet Gets NASDAQ Delisting Notice

SIOUX FALLS, S.D. — Troubled LodgeNet Interactive said it has received notice from NASDAQ that its shares will be delisted from the Exchange on Jan. 14, pending its expected bankruptcy filing.

LodgeNet said on Dec. 31 that Colony Capital LLC, its affiliates and certain other investors have agreed to invest $60 million in a recapitalization that will be implemented through an expedited Chapter 11 bankruptcy filing. In return for the investment, Colony Capital and its affiliates will receive 100% of LodgeNet’s equity. Pursuant to the bankruptcy filing, holders of LodgeNet’s outstanding stock will have their shares cancelled without receiving any distribution.

LodgeNet shares have been trading at less than $1 for more than 30 days, which prompted the delisting. In September, the company hired former Fox National Cable Networks executive Rich Battista as CEO to help evaluate strategic alternatives, including finding a buyer. LodgeNet shares closed at 4 cents each on Jan. 8, unchanged.

Cox, Raycom Sett le Retrans Dispute

ATLANTA — After a blackout that lasted about four days, Cox Communications reached a retransmission- consent agreement with Raycom Media for eight broadcast stations in six markets.

Raycom pulled the signals of KOLD (CBS) in Tucson, Ariz.; WOIO (CBS) and WUAB (MyNetwork TV) in Cleveland, Ohio; WAFB (CBS) and WBXH (MyNetwork TV) in Baton Rouge, La.; KPLC (NBC) in Lake Charles, La.; WWBT (NBC) in Richmond, Va., and WPGX (Fox) in Panama City, Fla., on Dec. 31, after the parties could not reach a deal. On Jan. 4, Cox said in a statement that it had reached an agreement and all of the Raycom stations had been returned to its channel lineup.

Raycom confirmed a deal had been reached. Terms were not disclosed.

Windstream to Refinance $1.1B of Debt

LITTLE ROCK, Ark. — Windstream, a rural telecommunications service provider and reseller of Dish Network satellite-TV service, said it is making moves to refinance about $1.1 billion in debt due 2013.

The company said it seeks $300 million in term loans under existing credit facilities to refinance existing term loans that mature in July. Windstream said it expects to secure those loans by the end of January. For the remaining $800 million in debt that comes due this year, Windstream has several options, including using a portion of the $1.25 billion currently undrawn in its existing revolving credit facility.