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Meredith

Media company with magazines and television properties.

Headquarters:
1716 Locust St.
Des Moines, IA 50309
Employees: 3,500
CEO: Steve Lacy
Stock Symbol: MDP

Meredith Corporation is one of the nation's leading media companies with interests in magazine and book publishing, television broadcasting, integrated marketing and interactive media.

The Meredith Publishing Group features 23 subscription magazines - including Better Homes and Gardens, Family Circle, Ladies' Home Journal, Parents, Fitness and American Baby - and approximately 150 special interest publications.

Meredith has approximately 400 books in print and has established marketing relationships with some of America's leading companies including DIRECTV, DaimlerChrysler, Wal-Mart and Carnival Cruise Lines. Meredith's customer database, which contains approximately 85 million names, is one of the largest domestic databases among media companies and enables magazine and television advertisers to target marketing campaigns precisely.

Additionally, Meredith has an extensive Internet presence that includes 32 web sites and strategic alliances with leading Internet destinations. Meredith Hispanic Ventures published five Spanish-language titles, making Meredith the largest Hispanic publisher in the United States.

Meredith owns 12 television stations including properties in top-25 markets reaching 10 percent of households.

In fiscal 2008, the company reported revenues of $1.58 billion and net earnings of $134.6 million.

In January, Meredith reportedly laid off 250 employees and stopped publishing Country Home magazine.

History

Edwin Thomas Meredith founded the company in 1902 when he began publishing Successful Farming magazine. The first issue was sold to 500 subscribers. By 1914, circulation was over the half-million mark.

1922 - Meredith began publishing Fruit, Garden and Home magazine, a home and family service publication.

1924 - Changed name of Fruit, Garden and Home to Better Homes and Gardens magazine. (A three-person staff produced the first Better Homes and Gardens magazine. The first issue cost a dime on the newsstand, and a one-year subscription cost 35 cents.)

1930 - Published first edition of the Better Homes and Gardens Cook Book. (Better Homes and Gardens magazine subscribers received complimentary copies.)

1946 - Meredith first offered stock to the public.

1948 - Entered the television broadcasting business with the purchase of WHEN-TV in Syracuse, N.Y.

1965 - First listed on the New York Stock Exchange as MDP.

1986 - Purchased Ladies' Home Journal magazine.

2005 - The company acquired Family Circle, Parents, Child and Fitness magazines from Gruner & Jahr for $350 million.

Benefits

- 401K Savings and Investment Plan
- Retirement Plan
- Group Health and Dental Insurance
- Life Insurance
- Dependent Life Insurance
- Tuition Reimbursement
- Paid Time Off (vacation, personal days and sick leave)
- Short and Long Term Disability
- Fitness Reimbursement
- Matching gifts and volunteer hours program
- Subscription discounts

Updated April 10, 2009