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.
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.
-
How the ‘British FBI’ will workThe Explainer New National Police Service to focus on fighting terrorism, fraud and organised crime, freeing up local forces to tackle everyday offences
-
The best family hotels in EuropeThe Week Recommends Top kid-friendly hotels with clubs, crèches and fun activities for children of all ages – and some downtime for the grown-ups
-
Moon dust has earthly elements thanks to a magnetic bridgeUnder the radar The substances could help supply a lunar base
-
‘One Battle After Another’ wins Critics Choice honorsSpeed Read Paul Thomas Anderson’s latest film, which stars Leonardo DiCaprio, won best picture at the 31st Critics Choice Awards
-
Son arrested over killing of Rob and Michele ReinerSpeed Read Nick, the 32-year-old son of Hollywood director Rob Reiner, has been booked for the murder of his parents
-
Rob Reiner, wife dead in ‘apparent homicide’speed read The Reiners, found in their Los Angeles home, ‘had injuries consistent with being stabbed’
-
Hungary’s Krasznahorkai wins Nobel for literatureSpeed Read László Krasznahorkai is the author of acclaimed novels like ‘The Melancholy of Resistance’ and ‘Satantango’
-
Primatologist Jane Goodall dies at 91Speed Read She rose to fame following her groundbreaking field research with chimpanzees
-
Florida erases rainbow crosswalk at Pulse nightclubSpeed Read The colorful crosswalk was outside the former LGBTQ nightclub where 49 people were killed in a 2016 shooting
-
Trump says Smithsonian too focused on slavery's illsSpeed Read The president would prefer the museum to highlight 'success,' 'brightness' and 'the future'
-
Trump to host Kennedy Honors for Kiss, StalloneSpeed Read Actor Sylvester Stallone and the glam-rock band Kiss were among those named as this year's inductees
