Martha Stewart Living Omnimedia Sold for $353 Million
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What’s the perfect place setting for a multimillion dollar deal? That’s a question for Martha Stewart any time, really, but especially on Monday after Sequential Brands Group, a retail licensing company, agreed to buy Martha Stewart Living Omnimedia for about $353 million.
Martha Stewart Living Omnimedia, or MSLO, includes Martha Stewart Living and Weddings magazines, cooking shows for PBS and a range of branded home and lifestyle products. The company, which was founded in 1997, was valued at nearly $2 billion when it went public two years later. But it has struggled lately due in large part to declining advertising sales at its magazines with revenues tumbling at the company, which is unprofitable.
With its media business faltering, MSLO has tried to recast itself as a merchandising company. “This merger is positioned to further the growth and expansion of the unique Martha home and lifestyle brand,” Ms. Stewart said in a statement.
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