Martha Stewart Living Omnimedia Acquires Emeril Franchise for $50 Million

Martha Stewart Living Omnimedia (MSLO) announced yesterday that it has completed the acquisition of Chef Emeril Lagasse’s media and merchandising business, giving MSLO the rights to the franchise’s television programming, cookbooks, Emeril.com and licensed kitchen and food products. The purchase price was $50 million—$45 million in cash and $5 million in stock—but could reach $70 million if certain performance targets are met in 2011 and 2012.