MSLO Sells for $353 Million
Future of Martha Stewart magazines unclear...
Although the fate of Martha Stewart-owned magazines remains unknown, Meredith Corp. has managed the business side of Martha Stewart Living and Martha Stewart Weddings since October. There is no indication the 10-year licensing deal will change as a result of the sale to Sequential Brands.
Meredith Corp. wouldn’t comment on the deal.
As a result of the deal, Stewart will become a significant stockholder and, according to a press release, will “continue to be an integral part of the brand she founded” as chief creative officer
The sale price of $353 million is a fraction of the nearly $2 billion MSLO was worth on the day of its initial public offering more than 15 years ago.
The deal is expected to close in the second half of 2015.