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Penney no longer on Martha Stewart board in revised deal

Customers ride the escalator at a J.C. Penney store in New York August 14, 2013. REUTERS/Brendan McDermid
Customers ride the escalator at a J.C. Penney store in New York August 14, 2013. REUTERS/Brendan McDermid

(Reuters) - Martha Stewart Living Omnimedia Inc and J.C. Penney Co Inc said on Monday that Penney will no longer be represented on Martha Stewart's board under a revised commercial agreement covering their licensing and design partnership.

The amended agreement also covers a more focused range of categories over a shorter period of time ending on June 30, 2017, the companies said.

It was not immediately clear how, if at all, the revised agreement could affect a major lawsuit the companies face. Macy's Inc , which had an exclusive deal with Martha Stewart, sued Penney and Martha Stewart Living last year over a partnership announced in 2011 in which Penney would open Martha Stewart home shops at hundreds of stores.

(Reporting by Jessica Wohl in Chicago; Editing by Richard Chang)

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