The ongoing legal struggle dogging Martha Stewart continues to take its toll on Martha Stewart Living Omnimedia, the lifestyle company bearing her name. Advertising declines in the television and publishing businesses led the company to a second-quarter loss of $19.3 million, compared with a profit of $931,000 a year ago. Revenue tumbled 33 percent to $44 million. The company’s TV operations reported a 53 percent decline in revenue to $3.1 million and an operating loss of $3.5 million, versus break-even in 2003, thanks to lower licensing and advertising revenue associated with the flagship television series “Martha Stewart Living.” However, the company announced a plan to rebuild its television production business, striking a deal with PBS to distribute the company’s newest television series, “Everyday Food,” to PBS stations nationwide.
Martha Stewart Firm Sees Its Numbers Fall
Aug 9, 2004 • Post A Comment