Martha Stewart's Daughter Takes Control of Omnimedia

28 January 2005

The daughter of disgraced US lifestyle guru Martha Stewart is now custodian of mom's 59% share in the media company she founded.

Alexis Stewart has been appointed as proxy, attorney-in-fact and agent of the securities of Martha Stewart Living Omnimedia, while Stewart senior is in jail for lying to investigators about her share dealings.

The filing, with the Securities and Exchange Commission, says the agreement can be reversed and states Stewart junior does not plan to acquire additional securities, enter into a merger, sell any material amount of company assets, or make any change to the board of directors or company management.

Data sourced from USA Today Online; additional content by WARC staff