LodgeNet Names Richard L. Battista As President And Chief Executive Officer Former Long-Time Fox Executive and Gemstar-TV Guide CEO Brings Extensive Strategic and Operational Experience To Company
SIOUX FALLS, S.D., Sept. 12, 2012 /PRNewswire/ -- LodgeNet Interactive Corporation (NASDAQ: LNET), the leading provider of interactive media and connectivity services to hospitality and healthcare businesses and the consumers they serve, announced today that Richard L. Battista has been selected as its next President and Chief Executive Officer. Mr. Battista will be based in Los Angeles and begins his employment with the Company effective today.
"The LodgeNet board found the ideal candidate and a proven leader in Rich Battista," said board chairman Doug Bradbury. "Rich brings a vast amount of experience in managing, rebuilding and developing large-scale businesses across various media platforms. During his career he has successfully led distributed entertainment content businesses across the Fox organization and spearheaded the impressive turnaround of Gemstar-TV Guide. LodgeNet will benefit from his extensive strategic vision and operational expertise as well as his background in both traditional and digital media businesses. Rich joins LodgeNet at an opportune time, as the company is a leader in its industry and continues to further diversify its business. Finally, I would like to sincerely thank board member Phillip Spencer for stepping in as interim CEO during our executive search."
"With the industry's largest footprint reaching over 500 million consumers per year, and services spanning both traditional and new media, LodgeNet is in a unique position to build upon its history of innovation," said Rich Battista. "The Company's extensive platform, commitment to the hospitality market and strong leadership position provide a solid foundation from which to capitalize on its opportunities as well as confront challenges. I look forward to working with our employees as we seek to drive operational excellence and strengthen our relationships with our customers and the traveling public."
A veteran of the entertainment and media industry, Mr. Battista most recently formed Pontiac Digital Media through which he has created and invested in media properties with a focus on the digital and content arenas. Mr. Battista enjoyed a nearly 20-year career at the News Corp/Fox companies in which he held numerous senior management roles across a number of divisions of the company, and played an integral role in building the company's significant portfolio of television businesses. Most recently he served as Executive Vice President, News Corporation and immediately prior to that he was President of Fox National Cable Networks. Mr. Battista served as Chief Executive Officer of the publicly traded company, Gemstar-TV Guide International, from 2004-2008 and directed the successful $2.3 billion sale of the company to Macrovision (now known as Rovi) in May 2008. He was the chief architect of the company's impressive turnaround in which it revitalized TV Guide Magazine and TV Guide Network while significantly expanding its patent licensing program and its reach across emerging digital media platforms, including the significant growth of TV Guide Online. Mr. Battista began his career as a financial analyst at the investment banking firm of Morgan Stanley. He holds an MBA from Harvard Business School, and graduated cum laude with a degree in business administration from Georgetown University.
LodgeNet Interactive Corporation is the leading provider of interactive media and connectivity services to hospitality and healthcare businesses and the consumers they serve. Recently named by Advertising Age as one of the Leading 100 US Media Companies, LodgeNet Interactive serves approximately 1.6 million hotel rooms worldwide in addition to healthcare facilities throughout the United States. The Company's services include: Interactive Television, Broadband and Advertising Media Solutions along with nationwide technical and professional support services. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, The Hotel Networks and LodgeNet Healthcare. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit www.lodgenet.com.
SOURCE LodgeNet Interactive Corporation