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Martha Stewart Living Omnimedia, Inc. Names Lisa Gersh President and COO


Martha Stewart Expected to Rejoin MSLO's Board of Directors
Blackstone Retained to Explore Strategic Partnerships

NEW YORK, May 25, 2011 /PRNewswire via COMTEX/ -- Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) announced today that Lisa Gersh will be joining the Company as President and Chief Operating Officer effective June 6, 2011. In this new role, Ms. Gersh will be responsible for MSLO's day-to-day operations and will oversee the Company's businesses. With this move, MSLO has created a succession plan which anticipates that Ms. Gersh will become CEO within 12-20 months, and it is expected that she will join the Company's Board of Directors in the near future. Ms. Gersh will report to Executive Chairman and Principal Executive Officer Charles Koppelman, who will continue to focus on identifying and pursuing opportunities to further drive brand and enterprise value.

Ms. Gersh is a highly accomplished executive with more than 15 years of leadership experience in the media and entertainment industries. Ms. Gersh was a co-founder of Oxygen Media and served as its President and Chief Operating Officer from 1998 until 2007 when Oxygen was acquired by NBC Universal. Following the acquisition, Ms. Gersh served in a number of important roles for NBC, most recently as President, Strategic Initiatives, where she was responsible for the creation of NBC's successful Education Nation initiative. Earlier in her tenure at NBC, she also served as Managing Director and CEO of The Weather Channel Companies. Ms. Gersh currently serves on the board of directors of Hasbro, Inc.

Ms. Gersh said, "MSLO is a company I've watched closely as a fan, a partner and even a competitor during my career, and I know first-hand that Martha Stewart is a powerful, growing and enduring brand. I'm thrilled to be joining Martha now as the Company moves towards a strategic transformation that I believe sets the stage for significant growth in the years ahead, and I look forward to lending my skills and experience as the Company moves forward on an exciting path."

Founder Martha Stewart, stated, "MSLO has so much opportunity to expand, grow and prosper, and I believe Lisa's entrepreneurial spirit and operational acumen will be invaluable to the entire organization."

"With Lisa's demonstrated operating expertise, strategic leadership and focus on results, we're confident in her ability to lead MSLO and drive the Company's long-term success," commented Executive Chairman and Principal Executive Officer Charles Koppelman. "We couldn't be more pleased to have her join us, and I look forward to working with her."

Martha Stewart Expected to Rejoin MSLO's Board of Directors

The Company also announced today it is expected that Martha Stewart will rejoin MSLO's Board of Directors in the third quarter of this year.

Martha Stewart commented, "I'm very excited by the prospect of rejoining the Board, and I look forward to working with Lisa as well as the entire Board on all of the compelling businesses of MSLO."

Blackstone Retained to Explore Strategic Partnerships

The Company also announced today that Blackstone Advisory Partners, a leading global investment and advisory firm, has been retained to review and respond to various parties that have expressed interest in potentially partnering with or investing in the Company, as well as exploring other opportunities.

With respect to the retention of Blackstone Advisory Partners, Martha Stewart stated, "As the founder and largest stockholder, I fully support this initiative to take our business and iconic brand to the next level."

There is no assurance that the exploration of strategic partnerships and other opportunities will result in a partnership or transaction. The Company does not expect to make further public comment regarding these matters while its exploration process continues.

About Martha Stewart Living Omnimedia, Inc.

Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) is a diversified media and merchandising company, inspiring and engaging consumers with unique lifestyle content and distinctive products. The Publishing segment encompasses the company's print and digital businesses and is comprised of four magazines, including MSLO's flagship publication, Martha Stewart Living, periodic special issues, books, websites, digital apps, blogs, and more. The Broadcasting segment produces the Emmy-winning, daily television series, "The Martha Stewart Show," and other original programming on Hallmark Channel, including "Mad Hungry with Lucinda Scala Quinn." Broadcasting also encompasses Martha Stewart Living Radio on SIRIUS XM Channel 110. In addition to its media properties, MSLO offers high-quality Martha Stewart products through licensing agreements with carefully selected companies, including the Martha Stewart Collection exclusively at Macy's, the Martha Stewart Living line of home-improvement products at The Home Depot, Martha Stewart Crafts with EK Success at Michaels, Jo-Ann Fabric, and independent retailers, the Martha Stewart Pets line at PetSmart. In 2008, Emeril Lagasse joined the Martha Stewart family of brands; MSLO acquired the assets related to Lagasse's media and merchandising business, including television programming, cookbooks, and emerils.com website and his licensed kitchen and food products. For additional information about MSLO, visit http://www.marthastewart.com/.

SOURCE Martha Stewart Living Omnimedia, Inc.



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