Martha Stewart Buys the Emeril Brand: What's It Mean?
Martha Stewart Living Omnimedia has bought the Emeril brand for a cool $50 million ($45 million in cash, $5 million in stock). What does buying Emeril's brand entail exactly? Everything but the Bam! man's restaurants.
According to the Associated Press, Martha and company are buying:
- Television programming: The Essence of Emeril and syndication episodes of Emeril Live on the Food Network and food correspondent segments on ABC's Good Morning America
- Cookbooks: A library of 12 cookbooks, including Delmonico and There's a Chef in My World
- Web property: emerils.com
- Licensed kitchen products: Emeril-branded cookware by All-Clad, cutlery by Wüsthof, tableware by Wedgwood, electrical appliances by T-Fal
- Food products: Including Bam! B-Q sauce, spices, marinades, coffee, and more
What does all this really mean?
Emeril is cashing out while the bammin' is good. I have to think that this deal was a direct result of Emeril not getting a new deal from the Food Network. And if the syndication rights to Emeril Live are in fact part of the deal, did Martha have to buy those rights from the Food Network or had Emeril managed to snare those rights in his last Food Network negotiation?
Is Essence of Emeril going to continue on the Food Network? Somehow I don't think we'll be hearing any more about Emeril remaining a part of the Food Network family. Emeril gets to keep the real cash cows of his far-flung empire, the restaurants and his substantial appearance fees. Does this mean we'll be seeing Emeril's Good Morning America segments on marthastewart.com? All these questions were emailed to a MSO spokesperson, who declined to comment. I pose all these questions as an admirer of Emeril Lagasse, who in actuality has done a great deal to further the cause of great food in this country.
One final question: Will other rock-star brand-name chefs follow suit?
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12 Comments:
As I wrote in talk:
I hope you know what you're doing Emeril. She is a conglomerate for sure, but I wouldn't want her to own me. At least you kept your restaurants in case she is impossible to please. Talk about polar opposites, but you do have good food and lots of name brand products in common. Should be interesting to watch as this unfolds. I hope Emeril comes out smelling like a bouquet of roses!
PerkyMac at 8:38AM on 02/20/08
I get the impression that this is a capital infusion that will help Emeril expand his restaurant empire to notches unknown.
This could be $45-$70 million of working capital that he could spin into several new cities. After all, he's only in New Orleans, Orlando, Vegas and Atlanta. Maybe he wants to open restaurants in other places like Chicago, LA or even NYC.
I see this as Emeril cashing in his assets and letting someone else take over the part of the empire he's tired of.
I also think that with the cancellation of Emeril Live, he's probably going to do less TV and focus on his restaurants and his family. The guy has worked very hard the last several years flying back and forth to NYC and maybe he just wants to focus on one thing.
By the way, Martha Stewart also bought Doc Gibbs' tambourine for $57.
ChipRamsey at 9:08AM on 02/20/08
Here is the facts as they are. Martha has her show on Fine Living TV. Fine Living TV is owned by Scripps same as Food Network.
http://www.fineliving.com/fine/about_the_network/article/0,1663,FINE_1457_974554,00.html
I have heard all kinds of rumors of a Martha TV but I see her on CBS and Scripps so I think they probably just sold Emeril to someone in the Scripps Family.
JerzeeTomato at 9:12AM on 02/20/08
Martha is a brilliant brand-builder. I bet this is going to be a huge leg up for Emeril...and either way, he's $50M richer...
producestories at 10:06AM on 02/20/08
It doesn't feel like other rock star chefs touch emeril's status as of yet. emeril has "bam" and bobby flay has boy meets grill? and then how many people who do not read food blogs know about Per Se? and then how many know about Babbo? Who's left after that?
foodinmouth at 10:17AM on 02/20/08
I agree with foodinmouth. Rachel Ray is the giant of TV cooking fame, and after that, is Emril, and then a long way below that before anyone else shows up (Bourdain? Bitali? Flay?)
Maybe Martha is planning to launch her own Food-TV like network and she wants programming.
OneEyedMan at 10:26AM on 02/20/08
You forgot Miami Beach's Emeril restaurant (in the Lowes Hotel), Chip.
heartnibbler at 1:40PM on 02/20/08
I just wish I had known Emril had put up the "For Sale" sign on his butt. Maybe we could have all held yard sales and chipped in to save him from Martha.
Met her, don't like her, JMHO.
SayWhat at 1:53PM on 02/20/08
@SayWhat,
maybe Martha did not take interest in you because you did not have insider trading tips for her.
foodinmouth at 1:59PM on 02/20/08
Emeril just made a ton of money, but I wouldn't watch him again, on *any* network.
launate at 3:46PM on 02/20/08
I think The Essence of Emeril is one of THE best cooking shows. I also like Jacques Pepin, America's Test Kitchen and Barefoot Contessa.
I have learned a wealth of info and techniques from Emeril. I admit that the LIVE show turned me off though. I wouldn't watch it and certainly won't miss it.
PerkyMac at 10:21PM on 02/20/08
@foodinmouth - that may have been it, although when I met her it was about 20 years ago and at a Jr. League function. Perhaps she knew I wasn't the Jr. League type and was "crashing" the party??
SayWhat at 8:49PM on 02/27/08