Martha Stewart Living Omnimedia (MSLO) may soon have a new owner.
On Thursday, The Wall Street Journal reported that the company is on the verge of selling to Sequential Brands Group Inc. No possible terms of the deal were announced and Stewart could not be reached for comment, the report said.
According to its website, Sequential Brands owns, promotes, markets and licenses a portfolio of consumer brands in the fashion, active and lifestyle categories. Among the brands currently in its portfolio are Linens ‘n Things, Jessica Simpson and Avia.
MSLO has struggled in recent years as the company’s publishing side has seen significant declines in revenue. In May, the company reported first quarter revenue of $17.1 million, down from revenue of $33.2 million in the comparable quarter the previous year.
Revenue from publishing was $5.7 million in the quarter, down nearly $14 million from the previous year’s comparable quarter. Merchandising sales in the first quarter were $10.9 million, down from sales of $13.1 million in the previous year’s first quarter.
MSLO touts itself as a diversified media and merchandising company reaching more about 100 million consumers across various media platforms. The company also has a variety of housewares and home goods products at various retailers including Macy’s, J.C. Penney, Staples, The Home Depot, PetSmart, Michaels and Jo-Ann Fabric & Craft Stores.
In addition, the MSLO family of brands includes Chef Emeril Lagasse’s media and merchandising properties.