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Martha Stewart Close to Selling Empire

The empire built by Martha Stewart will likely soon be acquired by Sequential Brands Group Inc., people familiar with the matter told The Wall Street Journal. The sale would mean the end of the Martha Stewart Living Omnimedia Inc. lifestyle brand as an independent company, as it sails troubled financial waters. Sequential Brands also owns a 50 percent share in Jessica Simpson’s brand, as well as Justin Timberlake’s William Rast brand, Heely’s, Linens ’n Things, and others. Stewart could not be reached for comment.