Buy Martha Stewart Living Omnimedia... Before Someone Else Does
Vince Martin • 15 Comments
Vince Martin • 15 Comments
Martha Stewart, Limited Upside, 100% Downside
Dec. 4, 2015, 3:02 PM
Dec. 2, 2015, 2:56 PM
- Martha Stewart Living Omnimedia (MSO +1.5%) says shareholders overwhelmingly approved its plans to merge with Sequential Brands (SQBG +4.2%).
- Shares in MSO have risen to $6.19, just a penny off the $6.20 acquisition price. The company expects the merger will close on Friday.
- Martha Stewart shareholders voted for the merger 271M to about 170,000, and approved a nonbinding vote on compensation to be paid to executive officers on completing the merger deal.
- Sequential is rebounding today after the company earlier this week decided to take on short sellers. Shares had fallen 33% in the past month.
Nov. 23, 2015, 8:34 AM
Nov. 5, 2015, 7:35 AM
- Martha Stewart Living Omnimedia (NYSE:MSO): Q3 EPS of -$0.03 misses by $0.07.
- Revenue of $17.5M (-40.9% Y/Y) misses by $3.39M.
Nov. 4, 2015, 5:30 PM
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Aug. 5, 2015, 7:54 AM
- Martha Stewart Living Omnimedia (NYSE:MSO): Q2 EPS of -$0.05 misses by $0.08.
- Revenue of $18.2M (-51.6% Y/Y) misses by $2.8M.
Aug. 4, 2015, 5:30 PM
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Jun. 26, 2015, 2:28 PM
- Following news that Martha Stewart Living Omnimedia (MSO +0.5%) may be listening to five bidders for the company, activist shareholder Plymouth Lane Capital management disclosed a 10.9% stake in the company and that it would encourage a "timely, proactive and robust marketing process" in order to gather acquisition offers during the go-shop period.
- MSO stock is trading today at $6.42, above the $6.15/share offer from Sequential Brands (SQBG -0.3%).
- The go-shop period was reportedly added to the two companies' agreement after Sequential CEO Yehuda Shmidman leaked deal details early. Now interest is reported from competing bidders, including Iconix (NASDAQ:ICON), Meredith (NYSE:MDP), Global Brands and Authentic Brands.
- MSO chief Martha Setewart owns nearly 49% of the company's class A shares.
- Schedule 13-D
Jun. 25, 2015, 8:42 PM
- Shares in Martha Stewart Living Omnimedia (NYSE:MSO) rose 3.9% today, and another 0.5% after hours, as the prospect of more (maybe several more) bidders for the company emerged today.
- Sequential Brands (SQBG -1.5%) on Monday said it had agreed to acquire MSO for $6.15 a share (about $353M), in a done deal. But The New York Post reported that bidding has reopened for "at least five prospective bidders" as Sequential's CEO Yehuda Shmidman was said to have leaked deal details early.
- That meant having to include a 30-day "go-shop" provision -- and now bidders may include Meredith (NYSE:MDP), which already has licensing for the Martha Stewart magazines; licensing group Iconix (NASDAQ:ICON); Global Brands; and Authentic Brands.
- Sequential's board is reportedly "very disappointed that this occurred and wants to understand how this happened."
- Martha Stewart shares were last quoted at $6.43 after hours, a 4.6% premium to Sequential's offer.
Jun. 25, 2015, 9:17 AM
Jun. 22, 2015, 12:45 PM
Jun. 22, 2015, 9:26 AM
- Sequential Brands (NASDAQ:SQBG) announces it acquired Martha Stewart Living Omnimedia (NYSE:MSO) for $6.15 a share.
- The combined company is expected to generate $3.75B in annual sales.
- The well-known Martha Stewart will be an "integral part" of the MS brand and be added to the board of the merged entity.
- A closing in the second half of 2015 is anticipated after a 30-day go-shop period runs its course.
- Previously: WSJ: Sequential Brands Group close to deal for Martha Stewart Living Omnimedia (Jun. 18 2015)
- Previously: Sequential Brands Group seen boosting Martha Stewart merchandising sales (Jun. 19 2015)
Jun. 18, 2015, 2:57 PM
May 5, 2015, 10:48 AM
- Martha Stewart Living Omnimedia (NYSE:MSO) took a tumble, dropping 8% this morning after it missed expectations for a profit, instead posting a net loss of $2.6M in Q1, as revenues dropped by 49%.
- EBITDA of -$1.9M missed an expected $1.4M; Operating loss was $2.4M vs. a loss of $2.2M a year ago. Publishing revenues dropped as expected after the company's partnership with Meredith Corp. on Martha Stewart Living and Martha Stewart Weddings magazines.
- The company's "fully focused on top-line growth," says CEO Dan Dienst, "by continuing to create our highly monetizable licensed content, and as evidenced by our new relationship with Staples and the expansion of our product line at PetSmart."
- Revenues by segment: Publishing, $5.7M (down 70.7%); Merchandising, $10.97M (down 16.1%); Broadcasting, $367K (down 45.9%).
May 5, 2015, 7:31 AM
- Martha Stewart Living Omnimedia (NYSE:MSO): Q1 EPS of -$0.05 misses by $0.06.
- Revenue of $17.05M (-48.8% Y/Y) misses by $1.61M.
May 4, 2015, 5:30 PM
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Martha Stewart Living Omnimedia Inc is a lifestyle company. The Company together with its subsidiaries is engaged in publishing, merchandising and broadcasting providing consumers with inspiring content and well-designed, quality products.
Industry: Publishing - Periodicals
Country: United States