Talks on TV Show Lift Stewart Stock

Shares of Martha Stewart Living Omnimedia Inc. rose nearly 5% on Monday on a report that “reality” show producer Mark Burnett has been in talks with the company’s namesake founder to refashion her lifestyles television show when she gets out of jail.

“I’m very interested in reinventing her show,” Burnett told the New York Daily News. Burnett produces such shows as “The Apprentice” and “Survivor.”

He said he wanted to maintain Stewart’s image of domestic perfection.

“It has to be about Martha helping people -- cooking, lifestyles, that kind of thing,” he said. The show would not deal with Stewart’s prison experience, he added.

Calls to Burnett’s office and Martha Stewart Living were not returned.

Stewart was convicted in March of lying about why she sold 3,928 shares of ImClone Systems Inc. on Dec. 27, 2001 -- the day before a negative announcement about the company that sent the price plunging.

Shares in her multimedia empire rose last week after Stewart’s announcement Thursday that she wanted to serve her five-month prison term as soon as possible rather than wait for her appeal’s outcome. The move is designed to end the uncertainty that has dogged the company and has made advertisers flee. Stewart will continue to appeal her conviction.

Shares of Martha Stewart Living gained 58 cents Monday to $13.17 on the New York Stock Exchange.

The stock had been trading around $19 a share before Stewart’s name was tied to the ImClone scandal.