Martha Stewart Living posts wider loss

Martha Stewart Living Omnimedia Inc. reported a much wider quarterly loss Thursday as its founder’s criminal conviction on charges of lying to investigators continued to weigh on the business.

But the company, founded by homemaking icon Martha Stewart, said it is “increasingly optimistic” about an advertising recovery next year and is preparing for the return of Stewart in spring 2005, after her release from prison.

Stewart, who began serving a five-month prison term this month, will be featured in a prime-time network television show to debut in fall 2005, the company said.

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The media and merchandising company recorded a net loss of $15 million, or 30 cents a share, in the third quarter, compared with a loss of $3.9 million, or 8 cents a share, a year earlier.

Revenue fell to $38.7 million from $51.2 million.

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FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

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FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

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FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

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FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

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The new TV show featuring Stewart is being developed and produced by Mark Burnett Productions, the company said.

Stewart was convicted in March of lying to federal investigators probing a suspicious stock sale.