It’s been six months since Macy’s Inc. wrapped up its well-publicized bench trial against Martha Stewart Living Omnimedia Inc. and J.C. Penney Corporation. Rather than wait any longer for a decision from New York Supreme Court Justice Jeffrey Oing, Macy’s and MSLO have taken matters into their own hands and reached a confidential settlement. J.C. Penney isn’t part of the deal, however, and Oing could still put the rival retailer on the hook for millions of dollars in damages.
Macy’s announced the settlement on Thursday, saying it resolved its claims that MSLO breached a distribution deal by partnering with J.C. Penney. The deal does not resolve tortious interference claims Macy’s brought against J.C. Penney. In a statement of its own, MSLO said that “the terms of our settlement are confidential, will not be disclosed, and are not deemed to be material to MSLO.”
