This recipe was provided by Angela Gubler, senior art director for Martha Stewart Living, who borrowed it from her mother, Julie Gubler.
Sterilize canning or jelly jars, and let dry without touching insides or rim. Place lids in a saucepan, and cover with boiling water; let stand until ready to use.
Cut pomegranates in half, and extract juice from seeds with a citrus juicer or reamer. Strain through a fine sieve into a large saucepan, discarding pulp. You should have about 5 cups juice.
In a small bowl, mix pectin with 1/4 cup sugar; stir mixture into juice in saucepan. Bring to a boil, and add remaining 4 3/4 cups sugar. Stir constantly until sugar dissolves while returning mixture to a boil; cook 2 minutes more.
Remove from heat, and ladle mixture into sterilized jars. Remove lids from boiling water, and dry thoroughly with a clean kitchen towel. Carefully place lids on jars, and twist shut. Invert jars; let stand 30 minutes to seal.
Reinvert jars, and check seals by pressing middle of lid with your finger. The lid should not spring back when released. If it does, the jar is not sealed; unsealed or open jars should be refrigerated and used within 3 weeks. Store sealed jars in a cool, dry, dark place up to 1 year.