It's hard out there for a media mogul. In a move said to return Martha Stewart Living Omnimedia to profitability, Martha Stewart and the media empire's board of directors have mutually agreed to reduce her pay.
According to a regulatory filing, Stewart's new salary is $1.8 million per year, down $200,000 from the $2M annually she'd been receiving since 2009. The licensing fee she receives for her brand was also cut down to $1.7 million, shaving off $300,000. Stewart's long-running daytime talk show was cancelled by Hallmark Channel in 2012.
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