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.
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