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Martha Stewart

Take That Oprah

Martha Stewart has just expanded her media empire and become much much richer.
M. Diddy is buying out the competition!
Stewart’s company, Martha Stewart Living Omnimdedia Inc. announced Tuesday that it had purchased the rights to the Emeril Lagasse franchise of cookbooks, television shows, and kitchen products for a total of $45 million in cash and another $5 million in stock at closing.
The acquired assets generated an estimated $14 million in revenue in 2007.
Although Stewart’s company acquired much, they did not acquire Emeril’s Homebase, which includes 11 of his restaurants and Lagasse’s corporate office.
Now if only Martha would buy out Rachael Ray and just make her go away!
[Image via WENN.]

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Feb 19, 2008 15:38pm PDT

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