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MSLO president and CEO Susan Lyne said: "The momentum we began
to build early in 2005 is starting to deliver a quantifiable improvement
in performance. We have exceeded our own plan both in terms of results
and in the success of our efforts to leverage the consumer connection
with Martha and the brand. We expect to achieve breakeven OIDA in
the second half of 2005, an improvement of approximately $15 million
over the second half of 2004.
"In publishing, our flagship magazine, Martha Stewart Living,
continues to achieve solid increases in advertising. At this point
in the selling cycle, we are feeling very good about indicators
for 2006 advertising page growth. Everyday Food continues to please
readers and win new advertisers. Importantly, we are working on
numerous multi-platform opportunities that allow us to offer advertisers
access to a common, loyal and engaged audience across print, broadcast
and Internet.
"We are now hard at work readying the first season of our
new daily syndicated television show, Martha. All business
segments stand to benefit from increased brand visibility as we
return to television this fall with both our new daytime show and
The Apprentice: Martha Stewart. Our recently announced partnership
with Discovery Communications will give us a platform to create
new lifestyle programming, while expanding the audience for our
current product."
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