TV marketer to buy diet firm

CLEARWATER — As Seen on TV has signed a letter of intent to acquire eDiets.com in an all-stock transaction totaling $13 million, the company announced today.

As Seen on TV says in a release it plans to market eDiets.com using long-form infomercials with celebrities to help boost its sales and make the diet company profitable.

Both companies are publicly traded. eDiets.com, traded on the Nasdaq (symbol: DIET), recorded $7.12 million in revenues during the first quarter, but a net loss of $1.07 million. During the past 12 months, eDiets.com produced $22.25 million in revenues, but posted losses in net income in every quarter, totaling $5.08 million during that period.