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LODGENET ENTERTAINMENT CORPORATION ANNOUNCES INITIAL PUBLIC OFFERING OF COMMON STOCK

 SIOUX FALLS, S.D., Oct. 14 /PRNewswire/ -- LodgeNet Entertainment Corporation announced today the initial public offering of 4.5 million shares of common stock at a price of $13.50 per share. All of the shares offered were sold by the company. Net proceeds from the offering will be used to fund expansion of the company's room base, redeem outstanding preferred stock and reduce bank debt. Oppenheimer & Co., Inc., was the lead underwriter. PaineWebber Incorporated co-managed the offering.
 LodgeNet Entertainment Corporation, headquartered in Sioux Falls, S.D., provides in-room, pay-per-view television entertainment services to the lodging industry. Services offered include "on-demand" movie systems and interactive guest transaction services such as video check- out, room service ordering and guest satisfaction surveys. LodgeNet Entertainment also offers interactive games and will soon deliver network-based Super Nintendo(R) video game systems to the lodging industry.
 -0- 10/14/93
 /CONTACT: Scott C. Petersen, executive vice president and COO, or James T. Nichols, vice president-finance and treasurer, 605-330-1330, both of LodgeNet Entertainment Corporation/


CO: LodgeNet Entertainment Corporation ST: South Dakota IN: LEI SU: OFR

DS-CP -- MN010 -- 2451 10/14/93 16:57 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
Words:188
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