LodgeNet, DirecTV To Partner Up Under Approved Ch. 11 Plan
By Maria Chutchian
Law360, New York (March 7, 2013, 6:06 PM EST) -- A New York bankruptcy judge on Thursday gave LodgeNet Interactive Corp. the go-ahead to implement its Chapter 11 plan, including a strategic partnership with DirecTV Group Inc., overruling opponents who tried to stand in the way of the company’s takeover by private real estate investment firm Colony Capital LLC.
U.S. Bankruptcy Judge Shelley C. Chapman’s approval allows Los Angeles-based Colony to enter into a deal with DirecTV to make LodgeNet and DirecTV strategic partners in the hospitality and health care markets. As part of the partnership,...