Diamond was credited with spearheading the company's partnership with NBC Universal and taking an active role in negotiations with Warner Home Video on a new line of company how-to DVD's to go on sale in October.
Under Diamond's watch, MSLO recently announced that it would be partnering with Discovery Communications to re-broadcast the company's new syndicated television series on The Learning Channel, which Discovery owns and operates, as well as a 13-part original home improvement series.
Although MSLO has also forged partnerships with Sirius Satellite Radio--which is set to broadcast a Martha-inspired channel--and Kmart Corporation, which is set to market a new line of furniture endorsed by the media personality, the company is widely held to be going through a rough patch since Stewart's release after serving five months in federal prison as a result of an obstruction-of-justice conviction in the ImClone Systems stock-trading scandal.
The credit rating agency Standard & Poor's recently downgraded the company's stock from sell to strong sell, citing an "unsustainably high" share price--around $28--"based on unrealistic investor expectations."
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