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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000895345-03-000759.txt : 20031112
<SEC-HEADER>0000895345-03-000759.hdr.sgml : 20031112
<ACCEPTANCE-DATETIME>20031112160113
ACCESSION NUMBER:		0000895345-03-000759
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031107
FILED AS OF DATE:		20031112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SOBEL SUZANNE M
		CENTRAL INDEX KEY:			0001206800

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15395
		FILM NUMBER:		03993993

	BUSINESS ADDRESS:	
		STREET 1:		MARTHA STEWART LIVING OMNIMEDIA INC
		STREET 2:		11 WEST 42ND STREET, 23RD FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER NAME:	
		FORMER CONFORMED NAME:	SOBEL SUZANNE
		DATE OF NAME CHANGE:	20021121

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARTHA STEWART LIVING OMNIMEDIA INC
		CENTRAL INDEX KEY:			0001091801
		STANDARD INDUSTRIAL CLASSIFICATION:	PERIODICALS:  PUBLISHING OR PUBLISHING AND PRINTING [2721]
		IRS NUMBER:				522187059
		STATE OF INCORPORATION:			DE

	BUSINESS ADDRESS:	
		STREET 1:		20 WEST 43RD STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		2128278000

	MAIL ADDRESS:	
		STREET 1:		20 WEST 43RD STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>jl4-martha_sobelex.xml
<TEXT>
<XML>
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<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-11-07</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001091801</issuerCik>
        <issuerName>MARTHA STEWART LIVING OMNIMEDIA INC</issuerName>
        <issuerTradingSymbol>MSO</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001206800</rptOwnerCik>
            <rptOwnerName>SOBEL SUZANNE M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>MARTHA STEWART LIVING OMNIMEDIA INC</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>11 WEST 42ND STREET NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>EVP, Advertising Sales</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Class A Common Stock, par value $0.01 per share</value>
      </securityTitle>
      <transactionDate>
         <value>2003-11-07</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
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      <transactionAmounts>
         <transactionShares>
           <value>58953</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
            <footnoteId id="F1"/>
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         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>75065</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>employee stock options (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>18.00</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-07</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
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         <transactionAcquiredDisposedCode>
           <value>D</value>
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      <exerciseDate>
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      </exerciseDate>
      <expirationDate>
         <value>2009-10-19</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>178553</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
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      <ownershipNature>
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           <value>D</value>
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   <derivativeTransaction>
      <securityTitle>
         <value>employee stock options (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>15.00</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-07</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
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      <transactionAmounts>
         <transactionShares>
           <value>38000</value>
         </transactionShares>
         <transactionPricePerShare>
            <footnoteId id="F1"/>
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         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F3"/>
      </exerciseDate>
      <expirationDate>
         <value>2010-04-08</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>38000</value>
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      </underlyingSecurity>
      <postTransactionAmounts>
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           <value>0</value>
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      <ownershipNature>
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           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>employee stock options (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>15.57</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-11-07</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
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      <transactionAmounts>
         <transactionShares>
           <value>38000</value>
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         <transactionPricePerShare>
            <footnoteId id="F1"/>
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         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F4"/>
      </exerciseDate>
      <expirationDate>
         <value>2011-04-09</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Class A Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>38000</value>
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      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> On November 7, 2003, pursuant to an option exchange program conducted by the issuer, the issuer canceled options to purchase Class A Common Stock previously granted to the reporting person. In exchange for the options, the reporting person was granted a number of restricted stock units as specified in Table I. These restricted stock units will vest in equal installments on November 7, 2004 and November 7, 2005.</footnote>

      <footnote id="F2"> This stock option, which was canceled pursuant to an option exchange program conducted by the issuer, was currently vested and exercisable.</footnote>

      <footnote id="F3"> This stock option, which was canceled pursuant to an option exchange program conducted by the issuer, was currently vested and exercisable as to 28,500 shares and would have become vested and exercisable as to the remaining 9,500 shares on April 18, 2004.</footnote>

      <footnote id="F4"> This stock option, which was canceled pursuant to an option exchange program conducted by the issuer, was currently vested and exercisable as to 19,000 shares and would have become vested and exercisable as to an additional 9,500 shares on each of April 9, 2004 and April 9, 2005.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ James Follo, Attorney-in-Fact for Suzanne M. Sobel</signatureName>
      <signatureDate>2003-11-11</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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