Media Industry
Industry: Email Alert RSS FeedMartha buys Martha Inc. (Martha Stewart, Martha Stewart Living Enterprises Inc. renamed Martha Stewart Living Omnimedia LLC)(Brief Article)
Broadcasting & Cable, February, 1997 by Littleton, Cynthia
Martha Stewart declared her independence last week from Time Inc., buying out most of the media giant's stake in the fast-growing Martha Stewart Living Enterprises Inc. Financial terms of the deal were not disclosed, but the buyout leaves Time with less than a 20% stake in Stewart's publishing, TV production and mail-order operations.
Stewart has aptly renamed the company Martha Stewart Living Omnimedia LLC. The changes come at a heady time for Stewart, who is preparing to expand her successful weekend TV franchise into the more competitive Monday-Friday daytime arena this fall. The buyout was widely expected as a result of ongoing rumors of friction between Stewart's plans for growth and Time Inc.'s corporate agenda. In announcing the deal,...
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