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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: HandsOn who wrote (18342)	7/30/1999 1:53:00 PM
From: LastShadow	Read Replies (2) \| Respond to of 43080

Now this news items ought to generate a lot of comments from this bunch of "investors gone bad"... Martha Stewart Plans Stock Sale NEW YORK, Jul 30, 1999 (AP Online via COMTEX) -- Martha Stewart has the perfect complement to your stock portfolio: shares in her company. Stewart, the doyenne of domestic detail, plans a $100 million stock sale in Martha Stewart Living Omnimedia Inc., according to documents filed Thursday with the Securities and Exchange Commission. Stewart would retain control of the company, which had $180 million in revenue and a net profit of $23.8 million in 1998. The company's principal vehicle is the monthly magazine Martha Stewart Living, but its television merchandising and Internet businesses have experienced strong growth. The company said it may use $42 million of the proceeds to buy out the remaining 6.2 percent stake held by Time Warner, an initial backer of Stewart's magazine. Also, the documents say a 5 percent stake in the company will be sold for $25 million to Kleiner, Perkins, Caufield and Buyers, a venture capital firm in San Francisco. The firm will also have the right to 15 percent of any publicly traded class of stock issued in an Internet business for an additional $21 million.