UNITED STATES FORM 8-K PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Date of Report (Date of earliest event reported) | November 4, 2002 |
|
Commission file number | 1-5128 |
|
| MEREDITH CORPORATION |
|
| (Exact name of registrant as specified in its charter) |
|
IOWA |
| 42-0410230 |
(State or other jurisdiction of |
| (I.R.S. Employer Identification No.) |
|
|
|
1716 Locust Street, Des Moines, Iowa |
| 50309-3023 |
(Address of principal executive offices) |
| (Zip Code) |
| 515-284-3000 |
Item 5. | Other Events |
|
On November 4, 2002, Meredith Corporation announced an agreement to acquireAmerican Baby magazine and related assets from Primedia Inc. for $115 million.American Baby magazine, which was launched in 1938, is currently published monthly and has a circulation of 2 million. OtherAmerican Baby group properties being acquired include:
-- | Childbirth magazine, which reaches 2.3 million expectant mothers annually |
-- | First Year of Life magazine, which reaches 3 million parents annually |
-- | Hispanic titles, includingExpera, Primeros 12 Meses,andHealth Kids en Espanol, and marketing programs, which reach 3 million consumers annually |
-- | Television programs,American Baby and Healthy Kids, which currently reach 60 million households on the FX television network |
-- | Web sites, americanbaby.com and healthykids.com, which deliver 2.7 million page views and approximately 700,000 unique visitors each month |
-- | Baby Faire expos and product shows, which have attracted more than 100,000 attendees annually |
-- | Sampling programs that reach nearly 10 million expectant and new parents annually |
-- | Custom publications for clients including Proctor & Gamble, Fisher Price and Mead Johnson |
The purchase price of $115 million represents a multiple of approximately 10 times theAmerican Baby group's projected 12-month earnings before interest, taxes, deprecation and amortization. Meredith expects the transaction to be accretive to earnings per share in fiscal 2003 and subsequent years.
| SIGNATURE |
| |
|
|
| |
|
|
| |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. | |||
|
|
| |
| MEREDITH CORPORATION |
| |
| Registrant |
| |
|
|
| |
| /s/ Suku V. Radia |
| |
|
|
| |
| Suku V. Radia |
| |
| Vice President - Chief Financial Officer |
| |
| (Principal Financial and Accounting Officer) |
| |
|
|
| |
Date: | November 4, 2002 |
|
