Martha Stewart Living Omnimedia has announced that it has sold its equity stake in WeddingWire for $11 million, a cool $5 million more than they paid in 2008. Especially in these economic times…not bad Martha.
WeddingWire is an online site that was initially purchased to help Martha Stewart Living build its wedding online presence. While MSL says that it will continue to work with WeddingWire, it makes me wonder if they sold it to pay off debt and tighten their belts as the wedding industry continues to go through growth and changes.
No matter what the reason, MSL will continue to be a powerhouse for those that want to live the MSL life. Only time will tell what’s next for Martha Stewart Living.