The Queen of Domesticity has purchased the Sultan of Bam! Martha Stewart has purchased the rights to all of chef Emeril Lagasse’s media empire for $50 million, meaning that she gets everything—TV shows, syndication, cookbooks, web sites, licensed kitchen gear, etc—except his mega-restaurants.
Ed Levine at Serious Eats provides the insider analysis. Seems to me that with Emeril’s flagship show on the Food Network “Emeril Live” ending/getting canceled, the man wants to return to his first love, feeding the folks, and spend time with his family. Can’t blame him for that. I will admire him for the perspicacity to know when to sell and to whom for maximum return.
Sounds like he’s got plenty of capital to open more restaurants without having to bring in too many partners or leverage his current properties. Maybe he’ll open one in or near his hometown of New Bedford, Mass….
Meanwhile, Martha Stewart Living Omnimedia exhibits the omnivore’s appetite to grow ever larger. Who will be the most powerful woman in media: Oprah or Martha? Hmm.
Did she buy it based on a “tip”?