Martha Stewart buys chunk of Emeril enterprise

NEW YORK Martha Stewart Living Omnimedia Inc. has agreed to buy the nonrestaurant assets of chef Emeril Lagasse in a deal initially valued at $50 million.

Stewart’s company is acquiring the rights to Lagasse’s television programs, including “The Essence of Emeril,” syndicated episodes of “Emeril Live,” and segments on ABC’s “Good Morning America”; cookbooks; the emerils.com website; and branded kitchen and food products, such as Bam! B-Q sauce and spices.