Martha Stewart is selling her company for $353 million
Martha Stewart has agreed to sell her company, Martha Stewart Living Omnimedia, to Sequential Brand Groups for $353 million. The company has a 30-day "go shop" period for anyone willing to pay more than Sequential's current offer, however, as Deadline reports, investors doubt they will get a better offer. The sale comes amid dipping stock prices for the lifestyle brand, as well as tanking numbers for the company's publications, including Martha Stewart Living. Publisher Meredith took over the magazine portion of the company last year. The sale to Sequential will allow the Martha Stewart brand to shift its focus to "expand[ing] our merchandising business both domestically and abroad," according to Stewart.
Sequential manages brands including Linens 'N Things, Heelys, and Jessica Simpson. The two companies expect the sale to be complete by the end of the year. Stewart will stay on as as board member and stock holder of Martha Stewart Living. So far, there is no word if the sale of her company will give Stewart more time to pursue her new passion of participating in celebrity roasts.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Marshall Bright is a digital production assistant at TheWeek.com. She has previously worked at America's Test Kitchen, SAVEUR and Studio 360. Originally from Chattanooga, Tennessee, she now lives in Harlem with her cat, Pickles.
-
What are Lucy Letby's grounds of appeal?
In depth Convicted former nurse's legal team claims judge at original trial wrongly refused her applications
By The Week UK Published
-
Grindr 'shared user HIV status' with ad firms, lawsuit claims
Speed Read LGBTQ dating app accused of breaching UK data protection laws in case filed at London's High Court
By Rebecca Messina, The Week UK Published
-
The best dog-friendly hotels around the UK
The Week Recommends Take a break with your four-legged friend in accommodation that offers you both a warm welcome
By Adrienne Wyper, The Week UK Published
-
OJ Simpson, star athlete tried for murder, dead at 76
Speed Read The former football hero and murder suspect lost his battle with cancer
By Rafi Schwartz, The Week US Published
-
Momofuku's 'Chili Crunch' trademark uproar
Speed Read The company's attempt to own the sole rights has prompted backlash
By Rafi Schwartz, The Week US Published
-
Kevin Hart awarded Mark Twain Prize
Speed Read He is the 25th recipient of the prestigious comedy prize
By Peter Weber, The Week US Published
-
Is Downton Abbey set to return for a final film?
Speed Read Imelda Staunton reveals that a third movie may be in the pipeline
By Adrienne Wyper, The Week UK Published
-
'Oppenheimer' sweeps Oscars with 7 wins
speed read The film won best picture, best director (Christopher Nolan) and best actor (Cillian Murphy)
By Peter Weber, The Week US Published
-
'Rust' armorer convicted of manslaughter
speed read The film's cinematographer Halyna Hutchins was shot and killed by actor Alec Baldwin during rehearsal
By Peter Weber, The Week US Published
-
The Beatles are getting 4 intersecting biopics
Speed Read Director Sam Mendes is making four separate movies, each told from the perspective of one band member
By Peter Weber, The Week US Published
-
Taylor Swift to Miley Cyrus: female artists dominate 2024 Grammys
Speed Read SZA, Phoebe Bridgers and Lainey Wilson were also among the winners at LA gala
By Arion McNicoll, The Week UK Published