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Subsequent Events
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On October 21, 2013, the Company and J.C. Penney entered into an amendment to their original commercial agreement, dated December 6, 2011, covering the companies' licensing partnership. Under this amendment, which reduced the term of the original commercial agreement from ten years to four and a half years, the Company will continue to design Martha Stewart branded products in the following categories: window treatments and hardware, lighting, holiday and celebrations, in exchange for design fees and guaranteed minimum royalty payments. Pursuant to the amendment, J.C. Penney made an upfront payment of the 2014 guaranteed minimum royalty, returned 11,000,000 shares of the Company's Class A Common Stock and one share of the Company's Series A Preferred Stock and removed its directors from the Board. Upon cancellation of the Series A Preferred Stock, J.C. Penney no longer has the right to designate directors to the Board.
On October 28, 2013, the Company announced the appointment of Daniel W. Dienst, a member of our Board, to the position of Chief Executive Officer. Mr. Dienst joined the Company’s Board in August 2013.