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Updated: MSLO To Buy Emeril’s Media Properties For $50 Million; $20 Million Earnout

Emeril at NATPEWhen I interviewed Wenda Harris Millard, the president of Media for Martha Stewart Living Omnimedia (NYSE: MSO) in NYC the week before, I asked her about expansion beyond the Martha brand. She cited the quiet period before MSLO’s Q4 earnings and didn’t want to address it. Now it makes sense why: the firm is expected to acquire Emeril Lagasse‘s extensive media and licensed properties for $45 million in cash and $5 million in stock, reports WSJ, citing sources. The deal includes his TV programs, a dozen cookbooks and Lagasse’s website, and other sundry products such as his branded salt. (Pic on the right: Emeril at Natpe earlier this year)

In January, Fortune reported that MSLO was in talks with fashion designer Cynthia Rowley and Jonathan Adler, known for his home decor, on acquiring their brands for the company, but the talks broke off. This also means that Emeril’s acquisition is not the only one the company will be doing.

This is the first major acquisition by MSLO in an attempt to move beyond Martha’s brand. The deal is expected to close in the second quarter. MSLO’s Q4 earnings call is later today…more then.

Update: The release is now out: The original report was correct on the cash and stock breakdown of the buy, although it could rise to $70 million if certain performance targets are reached in 2011 and 2012. The deal is expected to close in Q207, and the new assets are expected to generate $8 million EBITDA in the first year of operation. Release.

6 Responses to “Updated: MSLO To Buy Emeril’s Media Properties For $50 Million; $20 Million Earnout”

  1. God. you just have to admire Martha Stewart. She's not only the greatest White American Female but she fought phony trumped up charges, served her time like a proud American and now she's fully recovered and still can smile back at her distractions.
    In a country where huge Neocons like Enron and so many more get a slap on the wrist. While people commit treasonous acts while in employment of the Whitehouse get pardons have their crimes end up nothing other then lost history.

  2. fussygorilla – what the hell is wrong with you? MS dumped a losing stock just like you would have if you had had enough brains to even accumulate any of it. MS served her time for perjury – not 'corrupt business practices'. She is free to ethically succeed in business using her own brains and money.

    People like you can piss and moan about other people's successes, but it all boils down to your envious and resentful attitude resulting from your failure to accomplish anything meaningful. America does not need you!

  3. fussygorilla

    Shame on America where theives and corrupt business people like Martha are still in business and getting richer by the hour. The whole system stinks and needs a revolutionary change but there are no revolutionaries among the masses of people who are brainless, ignorant sheep. Ashamed to be an American.