RD Recap: Martha Stewart Sells Company for $350 Million; Changes at WSJ

The latest media hirings and firings.

Revolving Door

Revolving DoorMartha Stewart sells her eponymous company for around $350 million to Sequential Brands Group. She’ll get $167 million, not a bad payday, although Omnimedia used to be worth around $2 billion. “Martha Stewart’s impact around the world is staggering, and the empire she founded is unmatched in its industry. In fact, research shows that the Martha Stewart brand has 96 percent awareness among women in the U.S., and seven out of 10 women say that Martha has and does influence the way they think about, organize and manage their homes,” Sequential CEO Yehuda Shmidman said about the company he purchased. One big question that remains to be answered is how the sale will affect the publications, which have seen a significant decrease in ad revenue over the past decade…

The Wall Street Journal promotes business editor Dennis Berman to financial editor. According to a memo from editor Gerard Baker, the Pulitzer Prize and Gerald Loeb Award-winner “will play a prominent role in the Journal’s growing conference business, interviewing leading business figures onstage at our various events around the world.”… WSJ recruits Bloomberg deputy managing editor and Journal vet Jeanne Cummings to work in “a political editing capacity.” In her previous role, she helped launch Mark Halperin and John Heilemann‘s Bloomberg TV show, With All Due Respect… Read More