Martha Stewart Living Omnimedia (MSLO) is in "active discussions" on a new deal with Hallmark Channel, according to the network.
Fernando Leon/Getty Images- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
NEW YORK – Martha Stewart Living Omnimedia said Wednesday that it has sold its equity stake in WeddingWire for $11 million.
The resulting $7.6 million in net income will be recognized in the fourth quarter, MSLO said.
In a regulatory filing, it said it will dispose all its 8.44 million shares of series A preferred stock in the firm. The buyers are Catalyst Investors III and Catalyst Investors QP III.
President and COO Lisa Gersh has said that she is looking to focus MSLO on its strong brands and return all units to profitability.
Email: Georg.Szalai@thr.com
Twitter: @georgszalai
THR Newsletters
Sign up for THR news straight to your inbox every day