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Martha Stewart has a new home—literally.
The legendary diva’s nameplate of all things home and entertaining has been sold to branding company Marquee Brands only four years after being acquired by Sequential Brands Group.
The purchase price is being reported as $215 million, which represents a substantial markdown from the $355 million Sequential paid when it bought what was then publicly traded Martha Stewart Living Omnimedia in 2015.
According to the New York Post, Sequential had been shopping around the Martha business—which also includes the Emeril Lagasse brand purchased by Stewart in 2008—for some time and was turned off by its high operating costs, which it largely attributed to Stewart’s salary and perks. The Post cited