Martha buys Emeril's world

Feb 19, 2008 at 8:38 p.m. ET

In her effort to own everything house and home, Martha Stewart announced today a deal that puts her company squarely in control of the most recognizable name in cooking.

Emeril is now yet another Martha Stewart productEmeril Lagasse picked up $45 million in cash from the deal that also keeps him on as an advisor to his culinary empire. the final price of the deal could be worth upwards of $70 million.

What this means for the Stewart empire, time can only tell, but one thing is for sure, watch for those food sections in Martha Stewart Living to suddenly take a slightly Italian flair!

Those restaurants Emeril has been building across the country are not a part of the Stewart deal. Lagasse's 11 restaurants will remain in the celeb chef's hands. But what Martha does inherit is his television properties and his entire line of cookbooks.

That's a lot of dough.

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