Martha Stewart Living Omnimedia (MSO.N) has hired Blackstone Advisory Partners, signaling that it could be interested in striking a partnership or selling some or all of the company. At the same time, the company's founder, Martha Stewart, announced on Wednesday that she expected to rejoin the board of directors in the third quarter of this year. The company's shares rose 22 percent to $4.56 on the news. In a statement, the lifestyle company said that "there is no assurance that the exploration of strategic partnerships and other opportunities will result in a partnership or transaction." The company said other parties had previously expressed an interest in becoming a partner or investing in it.
Martha Stewart Living Omnimedia, Inc. (MSO) is an integrated media and merchandising company providing consumers with lifestyle content. Shares of MSO traded higher by 19.63% or $0.74/share to $4.51. In the past year, the shares have traded as low as $3.40 and as high as $6.25. On average, 239775 shares of MSO exchange hands on a given day and today's volume is recorded at 1115760.
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