Meredith Corp. is taking editorial and operational control of Martha Stewart Living and Weddings under a renewed licensing agreement.
The deal, which replaces the prior agreement reached with the former Martha Stewart Living Omnimedia last October, gives Meredith’s National Media Group control of the magazines’ print, digital and video functions. Before, Meredith just ran sales, marketing, circulation and production operations for the glossies.
The expanded agreement continues to apply to the U.S. and Canada, with opportunities for further overseas expansion, according to Meredith.
“The change will be invisible to the consumer, and will help to further strengthen the Martha Stewart brand in the advertising marketplace,” said Meredith National Media Group president Tom Harty.
Martha Stewart, founder and chief creative officer, said: “This new agreement is a natural evolution of our partnership with Meredith Corporation and will allow our magazines to realize their full potential. I’m extremely proud of our editorial team and the work they do to deliver inspiring content to readers everywhere. I’m confident that the Martha Stewart editorial team, along with Meredith’s leadership, will be a powerful combination that will evolve the opportunities for our invaluable content and grow the reach of our magazines for years to come.”
In December, Martha Stewart Living Omnimedia Inc. was sold to Sequential Brands Group for $6.15 a share in a cash and stock deal.
Meredith said the new deal will not have a material impact on its fiscal 2016 second-quarter financial performance. The company, which operates All Recipes and publishes Parents, Shape, and Better Homes and Gardens, reports second-quarter earnings on Jan. 27.