Meredith To License Martha Stewart Living Magazine - Quick Facts

(RTTNews) - Meredith Corp (MDP) Wednesday entered into an agreement with Martha Stewart Living Omnimedia (MSO) to acquire the rights to Martha Stewart Living and www.marthastewart.com pursuant to a 10-year licensing agreement.

Under the terms of the agreement, Meredith will lead sales and marketing, circulation, production, and other non-editorial functions of Martha Stewart Living and Martha Stewart Weddings magazines. Martha Stewart Living Omnimedia's (MSLO) editorial team will continue to create its highly regarded content.

Additionally, Meredith will assume responsibility for the sales and marketing of www.marthastewart.com and www.marthastewartweddings.com and its related assets, including its vast video library.

The agreement, which applies to the United States and Canada, is effective November 1, 2014. Meredith will begin delivering editions starting with the February 2015 issue of Martha Stewart Living and the Winter 2014 special issue of Martha Stewart's Real Weddings. The agreement will not have a material effect on Meredith's fiscal 2015 second quarter financial performance, but will be accretive to Meredith's earnings for the second half of fiscal 2015 and in fiscal 2016.