The effects of Martha Stewart Living Omnimedia’s (NYSE: MSO) announcement that it would explore “strategic” options has worn off. This is to a large extent due to remarks made by Martha Stewart herself.
Stewart told All Things Digital, speaking about the company’s future, that “Everything depends on what it is. We’re a valuable company and we have very valuable assets…What we’re hearing each and every day is content is still one of the most valuable things companies can have. We are loaded with extraordinarily good content. All options are open.”
CEOs who say they will explore “all options” often mean they have no options.
MSO shares are off 8.7% to $4.85, which is about where they traded the day the firm said Blackstone “had been retained to review and respond to various parties that have expressed interest in potentially partnering with or investing in Martha Stewart, as well as exploring other opportunities.”
There do not seem to be any rumors that offers have started to stream in. On April 27, MSO disclosed an operating loss for the first quarter of $6.8 million, compared to loss of $3.4 million for the first quarter of 2010.
Douglas A. McIntyre
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