Martha Stewart Living Omnimedia is living up to the “omni” in its name. The company owns magazines like Martha Stewart Living, Everyday Food, and Martha Stewart Weddings; publishes books through Random House; and sells flowers, greeting cards, house paint, towels, craft supplies, pots and pans, and wine. Then, of course, there is the TV show (warning: sound).
Now, the omnivorous company has consumed Emeril. By purchasing Emeril’s TV show, website, cookbook line, and kitchenware and food products, Omnimedia expects to add $8 million in annual earnings to its coffers—significant considering the company has not yet been able to turn a profit. Omnimedia is currently forecasting revenue below projections. It reportedly paid $45 million in cash, plus $5 million in stocks, for ownership of “Bam!” and all that entails.
Whether or not this signals a change in Martha Stewart Living’s fortunes (and economists have been predicting its upturn for years now), it seems to mean Emeril will be returning to the airwaves, which is good news for fans upset that Emeril Live was dropped by the Food Network last year.