Martha Stewart Living is handing over its ad sales, circulation and production fulfillment to publishing company Meredith in a 10-year partnership. The deal will allow the magazine to concentrate on design and content, and keep control of the brand's equity, according to a report on CNBC.
Under this agreement, Martha Steward Living Omnimedia expects to improve operating income by $10-$15 million annually.
CNBC was told that while the number of jobs that will be cut has not been disclosed, some employees will be offered jobs at Meredith.
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