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Tuesday, February 19, 2008

The Borg of the Food World

Posted By on Tue, Feb 19, 2008 at 1:15 PM

www.kotaku.com
  • www.kotaku.com

www.kotaku.com

Finally, an excuse to reference my Trekkie past!

At any rate, as you might have already heard, Martha Stewart -- or, rather, the terrifyingly titled Martha Stewart Living Omnimedia -- has bought the rights to Emeril Lagasse's TV shows, sauces and pretty much everything else except for his actual restaurants and charity foundations and (I assume) his wife and children.

Eater has the story as well as the official press release. Here's an excerpt from that press release which says more about today's media than any snarky comment I could make:

"Emeril brings talent, energy and legions of fans to the Martha Stewart family, along with a powerful brand and an attractive, profitable business franchise," said Susan Lyne, President and Chief Executive Officer of MSLO. "Emeril's high-quality food-related content and product lines complement our own, and offer multi-platform expansion opportunities. He brings to the MSLO fold a well-managed company with highly attractive EBITDA and cash flow levels that will contribute immediately to our performance. This acquisition is a significant one strategically as we expand and diversify our business by applying our expertise in managing multi-platform lifestyle brands."

What the hell does "highly attractive EBITDA" mean?

-Ian Froeb

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