Martha Stewart Living Omnimedia, where declining ad page sales are offsetting gains in merchandising and TV, has named Joe Lagani to the newly created position of chief revenue officer, tasked with leading ad sales and brand partnerships across its media portfolio.
Mr. Lagani has experience in both print and digital. He had been senior VP for ad sales at NBC Universal's iVillage since 2009, and previously held posts including VP for Brand Sales at Glam Media, VP-publisher at House and Garden and VP-publishing director at Meredith Corp.
"He's been a major force in the lifestyle space his whole career and has proven his ability to turn around performance and lead great teams," said Lisa Gersh, president-COO at Martha Stewart Living Omnimedia. "He has relationships and understanding steeped in print from Meredith and Conde Nast and has led the expansion of vibrant digital communities like iVillage and Glam Media, so he has a keen understanding about how to structure opportunities for brands and help advertisers form connections with consumers on a range of screens."
Martha Stewart Living Omimedia last week reported an operating loss of $9.3 million in the third quarter, compared with a $7.9 million operating loss in the quarter a year earlier. Revenue increased 5.1% to $52.2 million as publishing revenue slipped 3.1% to $33.2 million, merchandising revenue increased 28.8% to $12.3 million and TV revenue increased 14.3% to $12.3 million.
"The company generated slightly higher revenues than in the third quarter of 2010, however there is a lot of work to do to reach the performance levels that we think MSLO can achieve," Ms. Gersh said in a statement accompanying the third quarter results.
Last May Martha Stewart Living Omnimedia retained Blackstone Group to explore opportunities including outside investments in the company.