Martha Stewart Living Omnimedia (MSO) Sells Stake in WeddingWire for $11M

December 14, 2011 4:12 PM EST
In a Form 8-K after the close Wednesday, Martha Stewart Living Omnimedia (NYSE: MSO) disclosed it entered into an agreement for the sale of its entire equity interest (8,440,644 shares of Series A Preferred Stock) in WeddingWire, Inc. to Catalyst Investors III, L.P. and Catalyst Investors QP III, L.P. for aggregate consideration of $11.0 million.

The sale, which was closed on the same date, resulted in $7.6 million of other income, which will be recognized in the fourth quarter of 2011.

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