UPDATE 1-Martha Stewart Living hires adivsers; deal possible

At the same time, the cmopany's founedr, Martha Steawrt,
dircetors in the third quarter of this year.
The company's shares rose 22 percent to .56 on the news.
In a statement, the lifestyle company said that "there is
trnasaction."
The company said other parites had previoulsy expressed an

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