- Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Black Horse Capital Management LLC

2. Date of Event Requiring Statement (MM/DD/YYYY) 1/12/2010

3. Issuer Name and Ticker or Trading Symbol

LODGENET INTERACTIVE CORP [LNET]

(Last) (First) (Middle)

338 S. SHARON AMITY RD., #202

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___ X ___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

CHARLOTTE, NC 28211

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	897225	D ⁽¹⁾ ⁽⁴⁾
Common Stock	296769	D ⁽²⁾ ⁽⁴⁾
Common Stock	342875	D ⁽³⁾ ⁽⁴⁾

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
10% Series B Cumulative Perpetual Conv. Preferred Stock	⁽⁵⁾	⁽⁵⁾	Common Stock	512698	$3.78 ⁽⁵⁾	D ⁽¹⁾ ⁽⁴⁾
10% Series B Cumulative Perpetual Conv. Preferred Stock	⁽⁵⁾	⁽⁵⁾	Common Stock	161905	$3.78 ⁽⁵⁾	D ⁽²⁾ ⁽⁴⁾
10% Series B Cumulative Perpetual Conv. Preferred Stock	⁽⁵⁾	⁽⁵⁾	Common Stock	185185	$3.78 ⁽⁵⁾	D ⁽³⁾ ⁽⁴⁾

Explanation of Responses:
( 1)	Represents securities directly owned by Black Horse Capital LP ("Black Horse Capital Fund"). Black Horse Capital Management LLC ("Black Horse Management") is the managing general partner of Black Horse Capital Fund and is deemed to indirectly beneficially own the shares of stock directly owned by Black Horse Capital Fund.
( 2)	Represents securities owned directly by Black Horse Capital (QP) LP ("Black Horse QP Fund"). Black Horse Management is the managing general partner of Black Horse QP Fund and is deemed to indirectly beneficially own the shares of stock directly owned by Black Horse QP Fund.
( 3)	Represents securities directly owned by Black Horse Capital Master Fund Ltd. (the "Black Horse Offshore Fund"). Black Horse Management is the investment manager of Black Horse Offshore Fund and is deemed to indirectly beneficially own the shares of stock directly owned by Black Horse Offshore Fund.
( 4)	Dale Chappell is the managing members of Black Horse Management and is deemed to indirectly beneficially own the shares of stock beneficially owned by those entities. For purposes of this Form 3, Black Horse Management and Mr. Chappell disclaim ownership of the shares of common stock owned by the funds reporting on this Form 3 except to the extent of its or his pecuniary interest therein.
( 5)	The 10% Series B Cumulative Perpetual Convertible Preferred Stock (the "Preferred Stock") is immediately convertible at the option of the holder and will remain convertible perpetually unless terminated or mandatorily converted by the issuer pursuant to the terms of the Certificate of the Powers, Designations, Preferences and Rights of the Preferred Stock (the "Certificate"). The conversion price may be adjusted pursuant to the terms of the Certificate.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Black Horse Capital Management LLC 338 S. SHARON AMITY RD., #202 CHARLOTTE, NC 28211		X
BLACK HORSE CAPITAL LP 338 S. SHARON AMITY RD., #202 CHARLOTTE, NC 28211		X
BLACK HORSE CAPITAL QP L P 338 S. SHARON AMITY RD., #202 CHARLOTTE, NC 28211		X
Chappell Dale 338 S. SHARON AMITY RD., #202 CHARLOTTE, NC 28211		X

Signatures
Dale Chappell, Managing Member		1/22/2010
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.