Oct 31, 2004  •  Post A Comment

firm’s Loss Widens

Living Omnimedia last week reported a widened third-quarter loss as the lifestyle company continued to suffer from the legal troubles of founder Martha Stewart, who started her five-month federal prison term last month. MSO reported a third-quarter loss of $15 million, compared with year-earlier red ink of $3.9 million. Revenue tumbled 24 percent to $38.7 million. The company’s TV business continued to experience steep revenue declines, falling 67 percent to $2.2 million in the quarter as a result of lower licensing fees and advertising revenue associated with the discontinuation of the company’s flagship daily series, “Living.” n

-Jay Sherman