Ilya Marritz covers business for WNYC.
Martha Stewart Rejoins Board of Her Own Company
Wednesday, May 25, 2011
Martha Stewart, who had been barred from the board of her own company under terms of a settlement with the Securities and Exchange Commission, is rejoining Martha Stewart Living Omnimedia.
The kitchen and decorating queen had been accused of insider trading and convicted separately in federal court for obstruction of justice.
Now, the homemaking maven has hired Blackstone Advisory Partners to give advice on growing the company, fueling speculation that the company may be for sale.
Stewart is majority shareholder in her company.
Revenues have declined in recent years, to $231 million. A company announcement Wednesday said the new goal is more than quadruple revenues, to $1 billion annually.