Filed under: Deals, Marketing and advertising

Last month, I reported that Martha Stewart Living Omnimedia (NYSE: MSO) was actively seeking an acquisition to diversify beyond its core Martha Stewart brand.

Now the company has found what it hopes is it’s missing piece, and is set to acquire superstar chef Emeril Lagasse’s [subscription required] media and licensing empire for $45 million in cash and $5 million in stock, according to the Wall Street Journal.

The buy price will include the rights to Emeril’s television programs, syndicated episodes of the “Emeril Live” show on the Food Network, cookbooks and Emeril’s websites, and licensing deals from All-Clad cookware, W

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