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Blog
His bank account kicked up a notch
February 21, 2008
It's always satisfying to witness hard-working, talented and genuinely nice restaurant people get rich. That's certainly the case with Emeril Lagasse, who yesterday inked a deal with Martha Stewart Living Omnimedia for $45 million in cash and $5 million in stock. The celebrity chef sold rights to his TV show, cookware and cookbooks. Noted a financial blog in the Times:|
Susan Lyne, the company’s chief executive, said Mr. Lagasse had a profitable business model that would immediately contribute to Martha Stewart Living. David Bank, an analyst with RBC Capital Markets, called the acquisition of Mr. Lagasse’s brand a home run. |
Posted by David Farkas on February 21, 2008 | Comments (1)
In response to: His bank account kicked up a notch
Steve Coomes commented:
This clearly shows how boneheaded Food Network was in not figuring out how to keep him. I don't know many who like Martha Stewart, but no one I know doubts her business savvy. She's netted a big fish this time. Congrats, Emeril.