Word: omnimedia
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Dates: during 1997-1997
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...time when the fortunes of both entities are rising. K Mart has managed to pull itself back from almost complete disaster, although it is a long way from being top shelf. Meanwhile, Stewart has gained control of all things Martha and rolled them into Martha Stewart Living Omnimedia, a slew of new businesses that will greatly expand her nearly $150 million life-style empire...
Martha Stewart Living feeds all other Martha Stewart Living Omnimedia businesses. Sprawled over three floors of a landmarked Manhattan building, the offices, all natural bright light and blond wood, look like an MSL feature spread come to life. "What's unique about Martha Stewart Living is that it is a living brand," says Patrick, 54, the company's president. "The ideas and information we cover, we present and create. Our up-front costs are higher than other magazines', but now that will be spread over Omnimedia. We present information, and it is all repurposed material." Translation: everything in the magazine...
...complex, horizontally integrated empire of Martha Stewart Living Omnimedia is based on an almost insipid ethos: make life nicer and prettier. But implementation is not that simple. She says, "It took 100 years for someone to tell ordinary people in a doable manner not how to make an Escoffier or 100 amazing recipes that you will never do on a daily basis." Instead Stewart focuses on simple perfection. "I knew that the how-to would be my niche," she says. Adds her friend, dealmaker Ronald Perelman, the Revlon mogul: "I put her right up there as one of the most...