Wednesday, February 20, 2008

Martha Stewart Owns Emeril

Martha Stewart Living Omnimedia announced a deal to buy the entire Emeril Lagasse Product line for $45 million down and another $5 million in stock options.

The license ownership would extend to entertainment, cookbooks and cookware. The media and merchandising company, founded and headed by the 66-year-old domestic diva, said the deal would "contribute immediately to our performance."

Emeril will retain ownership of his 11 restaurants and his corporate office.

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