It’s not a good thing. Martha Stewart Living Omnipedia Inc. reported a 49% loss in revenue ($17.1 million) for the first quarter. The losses, which weren’t entirely unexpected, were largely the result of lost advertising and subscription revenue on flagship Martha Stewart Living and Martha Stewart Weddings brands, which the company licensed to Meredith Corp. last year.
The 10-year Meredith deal is designed to limit the company’s publishing losses and free it up to focus on its profitable bedding, housewares, and other consuming licensing businesses.