Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, May 25, 2011

Martha Stewart Living hires advisers; shares soar, (NYSE: MSO)

Martha Stewart Living Omnimedia (MSO.N) has hired Blackstone Advisory Partners, signaling it could strike a partnership or sell a stake in the company and sending shares up more than 30 percent. 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. The company, known for its flagship magazine and brands, said it hired Blackstone after having been approached by other parties interested in becoming a partner or investing in it. But it cautioned, "there is no assurance that the exploration of strategic partnerships and other opportunities will result in a partnership or transaction."

Martha Stewart Living Omnimedia, Inc. (MSO) is an integrated media and merchandising company providing consumers with lifestyle content. Shares of MSO traded higher by 30.88% or $1.164/share to $4.934. 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 4006800.