Martha Stewart Living acquired for $353 million
"The days when people looked to one person to tell them how to entertain, live tastefully are gone," said Allen Adamson, chairman of Landor Associates, a brand research firm.
Stewart cultivated legions of loyal fans, all eager to know the best way to decorate a cake, set the Thanksgiving table or plan a cocktail party.
No longer were people looking to get their information from a single source, but rather they were getting decorating and cooking advice from other domestic divas like Rachael Ray and everyday bloggers who write about home decorating, cake baking and the like.
Stewart was convicted in 2004 on federal criminal charges of lying to prosecutors about selling ImClone shares a day before the Food and Drug Administration announced it declined to review the company's application for a cancer drug.
In recognition of the shift online, Martha Stewart Living last October struck a 10-year licensing deal with Meredith Corp. to take over ad sales, circulation and production of Martha Stewart Living and Martha Stewart Wedding magazines.
According to the deal, the company would continue to create the editorial content.
"The Sequential team is smart, hardworking, and understands the power and limitless opportunity of the Martha Stewart brand and its formidable design, editorial and marketing teams," she said