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Industry Segments
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Industry Segments
Industry Segments
The Company is a globally recognized lifestyle company committed to providing consumers with inspiring content and well-designed, high quality products. The Company’s business segments are currently Publishing, Merchandising and Broadcasting.
The Publishing segment primarily consists of the Company’s operations related to producing content for Martha Stewart Living, Martha Stewart Weddings and books, as well as for the content-driven website, marthastewart.com, and for digital distribution of video content. In October 2014, the Company entered into a Magazine, Content Creation and Licensing Agreement (the “MS Living Agreement”) with Meredith Corporation (“Meredith”), and, effective November 1, 2014, the Company discontinued publication of Martha Stewart Living and the Company's digital operations. Pursuant to the MS Living Agreement, Meredith assumed control of advertising sales, circulation and production of Martha Stewart Living and hosting, operating, maintaining, and providing advertising sales and related functions for marthastewart.com, marthastewartweddings.com and related digital assets. The Company will continue to own its underlying intellectual property, and create and provide all editorial content for Martha Stewart Living, marthastewart.com and marthastewartweddings.com.
Concurrently with the MS Living Agreement, the parties also entered into the Magazine Publishing Agreement (the “MS Weddings Agreement”). Pursuant to the MS Weddings Agreement, Meredith assumed responsibility for advertising sales, circulation and production of Martha Stewart Weddings and related special interest publications, including Martha Stewart's Real Weddings, in the United States and Canada. The Company will continue to own its underlying intellectual property, and create and provide all editorial content for Martha Stewart Weddings and related special interest publications. The MS Weddings Agreement provides that Meredith will provide these services on a cost-plus basis. Meredith began delivering editions starting with the February 2015 issue of Martha Stewart Living and the Winter 2015 issue of Martha Stewart Weddings. For further discussion of our partnership with Meredith, see the Notes to Consolidated Financial Statements in our 2014 Form 10-K, specifically Note 1, The Company and Note 2, Summary of Significant Accounting Policies.
The Merchandising segment primarily consists of the Company’s operations related to the design and branding of merchandise and related collateral and packaging materials that are manufactured and distributed by its retail and wholesale partners in exchange for royalty income and, in certain agreements, design fees. The Merchandising segment also includes the licensing of talent services for television programming produced by or on behalf of third parties.
The Broadcasting segment consists of the Company's limited television production operations and television content library licensing.
Segment information for the three months ended March 31, 2015 and 2014 is as follows:
(in thousands)
Publishing
 
Merchandising
 
Broadcasting
 
Corporate
 
Consolidated
2015
 
 
 
 
 
 
 
 
 
Revenues
$
5,712

 
$
10,973

 
$
367

 
$
—

 
$
17,052

Non–cash equity compensation
(44
)
 
(14
)
 
—

 
(517
)
 
(575
)
Depreciation and amortization
(56
)
 
(9
)
 
—

 
(389
)
 
(454
)
Operating (loss) / income
(2,128
)
 
7,482

 
(12
)
 
(7,695
)
 
(2,353
)
2014
 
 
 
 
 
 
 
 
 
Revenues
$
19,506

 
$
13,084

 
$
678

 
$
—

 
$
33,268

Non–cash equity compensation
(58
)
 
(53
)
 
(1
)
 
(489
)
 
(601
)
Depreciation and amortization
(170
)
 
(19
)
 
(1
)
 
(2,849
)
 
(3,039
)
Operating (loss) / income
(2,750
)
 
9,300

 
193

 
(8,933
)
 
(2,190
)