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                                  EXHIBIT 10.2

                   AMENDMENT TO THE LOCATION RENTAL AGREEMENT
            AS AMENDED BY AND BETWEEN THE COMPANY AND MARTHA STEWART

            THIS SECOND AMENDMENT TO THE LOCATION RENTAL AGREEMENT, dated as of
March 15, 2004 (the "Amendment"), by and between Martha Stewart Living
Omnimedia, Inc. ("MSLO"), a Delaware corporation, and Martha Stewart
("Stewart"), a natural person (each of MSLO and Stewart, a "Party"). Capitalized
terms used in the Amendment but not defined herein shall have the meanings
provided in the Agreement.

                              W I T N E S S E T H:

            WHEREAS, the Parties wish to amend that certain location rental
agreement entered into by and between MSLO and Stewart as of October 22, 1999,
as amended (the "Agreement");

            NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

                  1.    Section 1 of the Agreement is hereby amended to read as
                        follows:

                        "The term of this Agreement shall commence on the date
                        hereof and continue until July 4, 2004, unless this
                        Agreement is terminated pursuant to Section 7 hereof. "

                  2.    Section 2 of the Agreement is amended by adding the
                        following to the final sentence of the Section:

                        "; provided, however, that for the period from January
                        1, 2004 to July 4, 2004, MSLO shall pay a pro rata
                        portion of the Annual Rental Fee in advance in six equal
                        monthly installments of $208,333 and a final installment
                        of $26,882 for the period commencing July 1, 2004 and
                        ending July 4, 2004."

                  3.    The Amendment shall not constitute an amendment of any
                        provision of the Agreement not expressly referred to
                        herein. Except as expressly amended hereby, the
                        provisions of the Agreement are and shall remain in full
                        force and effect.

                  4.    The Amendment may be executed by the parties hereto in
                        separate counterparts (including facsimile
                        counterparts), each of which shall be deemed to be an
                        original, and which taken together shall be deemed to
                        constitute one and the same instrument.

                  5.    It is understood and acknowledged that none of the
                        changes to the Agreement effected by the Amendment and
                        no action or inaction by any party in connection
                        therewith shall be construed as a waiver of any rights
                        of Stewart or the Company arising under any agreement
                        between Stewart and the Company or under applicable law
                        all of which are expressly reserved.

                  6.    The Amendment shall be governed by, and construed and
                        interpreted in accordance with, the laws of the State of
                        Delaware, without regard to its conflict of laws or
                        choice of laws principles.

            IN WITNESS WHEREOF, the parties hereto have executed and delivered
the Amendment as of the date first above written.

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                                 MARTHA STEWART LIVING OMNIMEDIA, INC.

                                  By:     /s/ Sharon Patrick
                                      --------------------------------
                                      Name Sharon Patrick
                                      Title: President & Chief Executive Officer

                                              /s/ Martha Stewart
                                 ---------------------------------------
                                 Martha Stewart

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