Deck the publishing halls with pink slips
Talks to sell Whole Living to OpenGate Capital and Jack Kliger collapsed at the 11th hour — pushing Martha Stewart Living Omnimedia to shutter the publication. Staffers were given the sad news yesterday afternoon.
As talks concerning the $2.5 million sale to OpenGate were cratering, Martha Stewart was seen partying at Art Basel in Miami on Wednesday night.
“The business was losing too much cash and needed a lot more to operate it as a going concern,” said Andrew Nikou, CEO of OpenGate, which owns TV Guide.