Sequential Brands Group has closed its purchase of Martha Stewart Living Omnimedia (MSLO). Sequential bought MSLO for $353 million in June.
The deal doesn’t mean much for Martha Stewart. She’s staying on with the company under a new, five-year contract. The New York Post reports that Stewart’s contract is for $1.8 million in base salary, “a $100,000 expense account, first-class travel, hotel accommodations and hair and makeup services.”
Rule #23 of owning a business: If you sell, get hair and makeup included.
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