Martha on the Mark

Mark Burnett's mastery of reality TV is undeniable. From the hit Survivor series on Viacom's (NYSE: VIA  ) CBS to Donald Trump's pop culture renaissance in The Apprentice on General Electric's (NYSE: GE  ) NBC, Burnett seems to have his finger on the pulse of the fact that TV viewers are favoring reality over fiction.

So maybe it shouldn't come as much of a surprise to see the popular producer team up with Martha Stewart Living Omnimedia (NYSE: MSO  ) to help beef up the company's daily syndicated show as well as develop a weekly prime-time series starring Martha herself. Martha knows how to draw a crowd. Burnett knows how to keep them there.

You can't underscore the power of Burnett. During the first few weeks of The Apprentice's original run, Trump's struggling Trump Hotels & Casino (NYSE: DJT  ) saw its penny-stock shares nearly double. Sure, the market eventually realized that if a truckload of hype meets a truckload of debt, the money woes have the right of way.

Thankfully Martha's company is a far more feasible and solvent entity. This doesn't mean that Martha has been tapped to replace Trump in the next installment of The Apprentice. The last thing that Martha's image would need is to be cast as a fiery boss, viciously booting off crafty job applicants.

Burnett indicates that the new network show will play into Martha's strengths. He will also be consulting on the company's new wedding and food shows -- content that was designed to ease the company's reliance on one personality -- and that is great news.

Naturally, you can't pick Burnett's brain for free, and his compensation includes 2.5 million warrants to acquire shares of the suddenly buoyant company at $12.59 a share. It will be well worth it as Burnett's reputation coupled with Martha's media magnetism should have networks bidding high for the series. Will this be Disney's (NYSE: DIS  ) chance to make amends for letting The Apprentice and American Idol slip through its legs? Will Fox (NYSE: FOX  ) come on strong in an attempt to cement its third-place standing?

This will ultimately create more exposure than Martha received during the halcyon days of cable TV and annual network holiday specials. So let the prospects shine through. This winning Motley Fool Stock Advisor pick is about to get even more popular. And, yes, that is a good thing.

Can a weekly prime-time show devoted to home arts and crafts work? How does one get started in making crafty goods? All this and more in the Crafty Fools discussion board. Only on Fool.com.

Longtime Fool contributor Rick Munarriz won't be making a cameo in Martha's new show, but he may eat a Cameo cookie while watching it. He owns shares in Disney and Viacom.