J.C. Penney is set to buy 16.6 percent of Martha Stewart Living Omnimedia for $38.5 million. The new partnership will include Martha shop-within-shops at J.C. Penny stores, but questions are raised about what this means for her Macy's deal and whether this new venture can live up to the success of her former Kmart partnership.
Check out the Martha headlines after the jump.
• J.C. Penney to Buy Stake in Martha Stewart Living | NY Times
• JCPenney teams with Martha Stewart for shop-in-shops | Home Textiles Today
• J.C. Penney CEO calls Martha Stewart deal a "centerpiece" | Reuters
Image: Erik Kabik/RETNA via Vegas News

Shaw's Original Fir...
AWEGWEISER said Who says crime does not pay? Put in a little prison time for a felony and you too can be paid $38.5 Mil for a whopping 16.5% piece of your business. Might have been fun to listen in on the negotiations for that deal.
I was never a Martha Stewart fan but have to agree with the Wall Street Journal, hardly a bastion of liberalism, who were highly critical of the government's prosecution. Many many people are convinced that the whole debacle was a politically motivated exercise by Bush cronies because Martha had the nerve to give financial support to the Democrats.
I have never bought anything designed by Martha Stewart but when she was designing furniture for Bernhardt I noticed she received very favorable press from other designers and from the design media. We shall just have to wait and see what transpires from this deal.
I wonder if this will affect MSL's relationship with Macy's.
I would have thought MLSO was worth more than that. $230mil?
I hope the team up would hit the mark. And by that both of J.C. Penney and of Martha Stewart Living Omnimedia will get an increase in sale this year. Though, J.C. Penney recently announced a new pricing strategy that regrettably consists of a drastic decrease in the number of sales that it will have each year. It also includes a 40 percent or more reduction of all prices on everything. J.C. Penny may need installment loans to keep going for a while if things do not look up soon. Both parties should hand and hand iti uplift their companies.