Advertisers Bail on Martha Stewart
Following the controversy surrounding the flower arranging bitch, advertisers are backing out of Martha Stewart Living magazine. Unilever, show spent $4.8 million in 2002 has spent only $130,000 in 2003.
This is taking a bite out or parent, Omnimedia, who announced on August 11 earnings fell 86.4% to $931,000 in Q2.
"We stand for quality. We stand for how-to expertise. We stand for value, we stand for affordability, and we stand for style," said Omnimedia CEO Sharon Patrick who took over after Stewart got booted. "Those brand elements are not at question."
Good luck, Sharon.