Martha Stewart Nearing Deal to Sell Empire
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Getty(NEW YORK) — Martha Stewart’s empire is in talks to be sold.
According to a report from The Wall Street Journal, Martha Stewart Living Omnimedia Inc. is nearing a deal to be sold to Sequential Brands Group Inc., a company known for being a major consolidator, buying brands and selling them to manufacturers.
The announcement could be made in the next coming days said The Wall Street Journal report.
As of Thursday afternoon, Martha Stewart Living Omnimedia Inc.’s market value was at $370 million, much lower than the initial public offering in 1999 which placed the company’s value at $2 billion.
Sequential already owns Justin Timberlake’s William Rast brand, as well as Ellen Tracy, Heely’s, and more. The company also holds a 50 percent stake in Jessica Simpson’s brand.
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