Martha Stewart takes a pay cut
Retail Editor 3 -- Home Textiles Today, July 5, 2013
New York - Martha Stewart Living Omnimedia and its founder have agreed to a $200,000 reduction in her base salary and a $300,000 cut to the annual licensing fee she receives.
According to a filing with the Securities and Exchange Commission, Stewart's base salary as of July 1 is now $1.8 million and her annual licensing fee will be $1.7 million effective Sept. 15.
MSLO reported a net loss of $56 million in 2012 and a net loss of $3.27 million during the first quarter.
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