An SEC filing today says the compensation changes in Martha Stewart‘s contract are consistent with her company’s plan to return to profitability. Martha Stewart Living Omnimedia has reduced Stewart’s annual pay to $1.8 million as part of an option in a July 2012 agreement that extended her employment as chairman until 2017, according to the filing reported by Bloomberg. The company has struggled with declining advertising sales at its magazines and lower broadcast revenue following the cancellation of The Martha Stewart Show last year. The company also is seeking a permanent CEO. Martha Stewart Living posted a net loss of $3.27M in the first quarter after losing $56.1M in 2012.
Martha Stewart Agrees To 10% Pay Cut
What's Hot on Deadline
No Obama Bounce For DNC Day 3 Ratings As They Fall Behind RNC, 'Wayward Pines' Finale Down From 2015
Venice Film Festival: Lido To Launch Pics From Ford, Gibson, Malick & More As Awards Season Starts To Buzz - Full List
Bill O'Reilly Defends Comments That Slaves Who Built The White House Were "Well-Fed And Had Decent Lodging" - Update
Cristina Ferrare Out, Replaced By Debbie Matenopoulos As Co-Host Of Hallmark Channel's 'Home & Family'
Latest TV News
- Blindfolded Kissing Reality Show ‘Kiss Bang Love’ Heads To FYI
- No Obama Bounce For DNC Day 3 Ratings As They Fall Behind RNC, ‘Wayward Pines’ Finale Down From 2015
- Dwayne Johnson Comedy ‘Ballers’ Renewed For Season 3 By HBO
- ‘Snowfall’: John Singleton FX Pilot Adds Four To Cast
- MTV Classic Launch: Details About VH1 Classic’s Rebranding & New Lineup
- VH1 & Ice Cube Partner On Hip Hop Version Of ‘Hollywood Squares’