J.C. Penney (JCP) is expected to announce today that it's buying a 16.6% stake in Martha Stewart...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP) is expected to announce today that it's buying a 16.6% stake in Martha Stewart Living Omnimedia (MSO). The $3.50/share price tag is a 12% premium to MSO's close yesterday. J.C. Penney will also get two seats on MSO's board.