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Martha Stewart Reorganizes Management

  • Bloomberg, Wednesday, October 27, 2010 11:26 PM
Martha Stewart Living Omnimedia Inc. replaced its heads of marketing, broadcast sales and digital-advertising sales with newly appointed executive vice president Sally Preston amid a reorganization. Preston, previously group publisher, will oversee media sales and marketing.

Janet Balis, executive vice president of media sales and marketing, and the executives in charge of broadcast and digital-ad sales are departing. Martha Stewart Living, owner of the namesake magazine and TV cooking show, is trying to revive sales growth after two straight years of falling revenue. The shifting of its TV shows to the Hallmark Channel this fall has been "disappointing with very weak ratings," according to an Oct. 13 note from Noble Financial analyst Michael Kupinski, who rates the stock "buy."



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