Hawkeye Acquisition (MDP) 8-K Other Events

Meredith Corporation and Subsidiaries

Fiscal 2008 and 2009 Financial Information Reflecting the

Discontinuance of Country Home Magazine

EXHIBIT 99

		Page
Schedule 1	Condensed Consolidated Statements of Earnings for the Nine Months and Each of the Fiscal Quarters in the Nine Months ended March 31, 2009	1
Schedule 2	Condensed Consolidated Statements of Earnings for the Year and Each of the Fiscal Quarters in the Year Ended June 30, 2008	2
Schedule 3	Segment Information for the Nine Months and Each of the Fiscal Quarters in the Nine Months ended March 31, 2009	3
Schedule 4	Segment Information for the Year and Each of the Fiscal Quarters in the Year Ended June 30, 2008	4
Schedule 5	Supplemental Disclosures Relating to the Consolidated Statement of Earnings for the Three Months Ended December 31, 2008	5
Schedule 6	Supplemental Disclosures Relating to Segment Information for the Three Months Ended December 31, 2008	6
Schedule 7	Supplemental Disclosures Relating to the Consolidated Statement of Earnings for the Three Months and Year Ended June 30, 2008	7
Schedule 8	Supplemental Disclosures Relating to Segment Information for the Three Months and Year Ended June 30, 2008	8
Schedule 9	Supplemental Disclosures Regarding Non-GAAP Financial Measures for the Year and Each of the Fiscal Quarters in the Nine Months Ended March 31, 2009	9
Schedule 10	Supplemental Disclosures Regarding Non-GAAP Financial Measures for the Year and Each of the Fiscal Quarters in the Year Ended June 30, 2008	10

Meredith Corporation and Subsidiaries							Schedule 1
Consolidated Statements of Earnings (Unaudited)
	Three Months Ended						Nine Months Ended
	September 30, 2008		December 31, 2008		March 31, 2009		March 31, 2009
(In thousands except per share data)
Revenues
Advertising	$         211,826		$         201,800		$         184,182		$         597,808
Circulation	71,413		66,804		72,869		211,086
All other	80,831		92,680		80,543		254,054
Total revenues	364,070		361,284		337,594		1,062,948
Operating expenses
Production, distribution, and editorial	170,111		162,310		159,197		491,618
Selling, general, and administrative	144,952		152,248		124,323		421,523
Depreciation and amortization	10,856		10,776		10,714		32,346
Total operating expenses	325,919		325,334		294,234		945,487
Income from operations	38,151		35,950		43,360		117,461
Interest income	120		107		121		348
Interest expense	(5,434	)	(5,353	)	(4,911	)	(15,698	)
Earnings from continuing operations before income taxes	32,837		30,704		38,570		102,111
Income taxes	13,769		13,301		13,696		40,766
Earnings from continuing operations	19,068		17,403		24,874		61,345
Income (loss) from discontinued operations, net of taxes	(431	)	(4,860	)	554		(4,737	)
Net earnings	$           18,637		$           12,543		$           25,428		$           56,608
Basic earnings per share
Earnings from continuing operations	$              0.42		$              0.39		$              0.55		$              1.36
Discontinued operations	(0.01	)	(0.11	)	0.01		(0.11	)
Basic earnings per share	$              0.41		$              0.28		$              0.56		$              1.25
Basic average shares outstanding	45,241		44,951		44,961		45,051
Diluted earnings per share
Earnings from continuing operations	$              0.42		$              0.39		$              0.55		$              1.36
Discontinued operations	(0.01	)	(0.11	)	0.01		(0.11	)
Diluted earnings per share	$              0.41		$              0.28		$              0.56		$              1.25
Diluted average shares outstanding	45,368		45,072		45,092		45,177

-1-

Meredith Corporation and Subsidiaries									Schedule 2
Consolidated Statements of Earnings (Unaudited)
	Three Months Ended								Year Ended
	September 30, 2007		December 31, 2007		March 31, 2008		June 30, 2008		June 30, 2008
(In thousands except per share data)
Revenues
Advertising	$         248,263		$         234,452		$         225,367		$         222,516		$         930,598
Circulation	77,638		70,231		83,236		69,465		��     300,570
All other	69,371		83,940		83,675		84,289		321,275
Total revenues	395,272		388,623		392,278		376,270		1,552,443
Operating expenses
Production, distribution, and editorial	172,002		162,447		166,822		172,336		673,607
Selling, general, and administrative	150,966		149,358		135,638		154,069		590,031
Depreciation and amortization	12,114		12,020		11,852		13,167		49,153
Total operating expenses	335,082		323,825		314,312		339,572		1,312,791
Income from operations	60,190		64,798		77,966		36,698		239,652
Interest income	352		296		250		192		1,090
Interest expense	(6,163	)	(5,734)	)	(5,387	)	(5,106	)	(22,390	)
Earnings from continuing operations before income taxes	54,379		59,360		72,829		31,784		218,352
Income taxes	21,208		24,302		26,647		13,221		85,378
Earnings from continuing operations	33,171		35,058		46,182		18,563		132,974
Income (loss) from discontinued operations, net of taxes	199		1,001		(98	)	596		1,698
Net earnings	$           33,370		$           36,059		$           46,084		$           19,159		$         134,672
Basic earnings per share
Earnings from continuing operations	$              0.70		$              0.74		$              0.99		$              0.41		$              2.83
Discontinued operations	-		0.02		-		0.01		0.04
Basic earnings per share	$              0.70		$              0.76		$              0.99		$              0.42		$              2.87
Basic average shares outstanding	47,795		47,287		46,672		45,957		46,928
Diluted earnings per share
Earnings from continuing operations	$              0.68		$              0.73		$              0.97		$              0.40		$              2.79
Discontinued operations	-		0.02		-		0.01		0.04
Diluted earnings per share	$              0.68		$              0.75		$              0.97		$              0.41		$              2.83
Diluted average shares outstanding	48,828		48,325		47,420		46,177		47,585

-2-

Meredith Corporation and Subsidiaries								Schedule 3
Segment Information - Unaudited
		Three Months Ended						Nine Months Ended
		September 30, 2008		December 31, 2008		March 31,  2009		March 31, 2009
(In thousands)
Revenues
Publishing		$         293,667		$         276,908		$         280,320		$         850,895
Broadcasting
Non-political advertising		61,648		64,717		51,778		178,143
Political advertising		5,871		17,005		245		23,121
Other revenues		2,884		2,654		5,251		10,789
	Total broadcasting	70,403		84,376		57,274		212,053
Total revenues		$         364,070		$         361,284		$         337,594		$      1,062,948
Operating profits
Publishing		$           33,890		$           23,208		$           47,971		$         105,069
Broadcasting		10,696		22,329		1,348		34,373
Unallocated corporate		(6,435	)	(9,587	)	(5,959	)	(21,981	)
Income from operations		$           38,151		$           35,950		$           43,360		$         117,461
Depreciation and amortization
Publishing		$            3,826		$            4,228		$             3,789		$           11,843
Broadcasting		6,069		6,448		6,471		18,988
Unallocated corporate		961		100		454		1,515
Total depreciation and amortization		$           10,856		$           10,776		$           10,714		$           32,346
EBITDA1
Publishing		$           37,716		$           27,436		$           51,760		$         116,912
Broadcasting		16,765		28,777		7,819		53,361
Unallocated corporate		(5,474	)	(9,487	)	(5,505	)	(20,466	)
Total EBITDA1		$           49,007		$           46,726		$           54,074		$         149,807
1 EBITDA is earnings from continuing operations before interest, taxes, depreciation, and amortization.

-3-

Meredith Corporation and Subsidiaries										Schedule 4
Segment Information - Unaudited
		Three Months Ended								Year Ended
		September 30, 2007		December 31, 2007		March 31, 2008		June 30, 2008		June 30, 2008
(In thousands)
Revenues
Publishing		$         320,721		$         300,986		$         314,732		$         297,399		$      1,233,838
Broadcasting
Non-political advertising		72,492		85,168		74,016		73,246		304,922
Political advertising		1,072		1,436		1,432		1,507		5,447
Other revenues		987		1,033		2,098		4,118		8,236
	Total broadcasting	74,551		87,637		77,546		78,871		318,605
Total revenues		$         395,272		$         388,623		$         392,278		$         376,270		$      1,552,443
Operating profits
Publishing		$           54,946		$           44,258		$           64,309		$           24,828		$         188,341
Broadcasting		13,577		27,564		18,689		18,030		77,860
Unallocated corporate		(8,333	)	(7,024	)	(5,032	)	(6,160	)	(26,549	)
Income from operations		$           60,190		$           64,798		$           77,966		$           36,698		$         239,652
Depreciation and amortization
Publishing		$            5,196		$            5,300		$             5,088		$            4,789		$           20,373
Broadcasting		6,378		6,329		6,262		7,686		26,655
Unallocated corporate		540		391		502		692		2,125
Total depreciation and amortization		$           12,114		$           12,020		$           11,852		$           13,167		$           49,153
EBITDA1
Publishing		$           60,142		$           49,558		$           69,397		$           29,617		$         208,714
Broadcasting		19,955		33,893		24,951		25,716		104,515
Unallocated corporate		(7,793	)	(6,633	)	(4,530	)	(5,468	)	(24,424	)
Total EBITDA1		$           72,304		$           76,818		$           89,818		$           49,865		$         288,805
1 EBITDA is earnings from continuing operations before interest, taxes, depreciation, and amortization.

-4-

Meredith Corporation and Subsidiaries					Schedule 5
Supplemental Disclosures Relating to the Consolidated Statements of Earnings (Unaudited)
Special Charge - During the second quarter of fiscal 2009, Meredith recorded a special charge which relates primarily to the cost of a companywide workforce reduction of approximately 250 employees; the closure of Country Home magazine, effective with the March 2009 issue; and the relocation of the creative functions of the ReadyMade brand and Parents.com to Des Moines.  Please see Meredith's press release dated January 8, 2009, for additional information relating to the special charge.
Period Ended December 31, 2008	Three Months
	Excluding Special Charge		Special Charge		As Reported
(In thousands except per share data)
Revenues
Advertising	$   201,800		$             -		$   201,800
Circulation	66,804		-		66,804
All other	92,680		-		92,680
Total revenues	361,284		-		361,284
Operating expenses
Production, distribution, and editorial	162,310		-		162,310
Selling, general, and administrative	143,215		9,033	(a)	152,248
Depreciation and amortization	10,776		-		10,776
Total operating expenses	316,301		9,033		325,334
Income from operations	44,983		(9,033	)	35,950
Interest income	107		-		107
Interest expense	(5,353	)	-		(5,353	)
Earnings before income taxes	39,737		(9,033	)	30,704
Income taxes	16,823		(3,522	)	13,301
Earnings from continuing operations	22,914		(5,511	)	17,403
Loss from discontinued operations, net of taxes	(736	)	(4,124	)(b)	(4,860	)
Net earnings	$     22,178		$     (9,635	)	$     12,543
Basic earnings per share
Earnings from continuing operations	$        0.51		$       (0.12	)	$        0.39
Discontinued operations	(0.02	)	(0.09	)	(0.11	)
Basic earnings per share	$        0.49		$       (0.21	)	$        0.28
Basic average shares outstanding	44,951		44,951		44,951
Diluted earnings per share
Earnings from continuing operations	$        0.51		$       (0.12	)	$        0.39
Discontinued operations	(0.02	)	(0.09	)	(0.11	)
Diluted earnings per share	$        0.49		$       (0.21	)	$        0.28
Diluted average shares outstanding	45,072		45,072		45,072
Notes
(a) Severance expense
(b) Severance expense and the write-down of art and manuscript inventory and subscription acquisition costs, net of taxes

-5-

Meredith Corporation and Subsidiaries					Schedule 6
Supplemental Disclosures Related to Segment Information (Unaudited)
The following table shows results of operations excluding the special charge and as reported with the difference being the special charge discussed in Schedule 5.
Period Ended December 31, 2008	Three Months
	Excluding Special Charge		Special Charge		As Reported
(In thousands)
Revenues
Publishing	$    276,908		$              -		$    276,908
Broadcasting
Non-political advertising	64,717		-		64,717
Political advertising	17,005		-		17,005
Other revenues	2,654		-		2,654
Total broadcasting	84,376		-		84,376
Total revenues	$    361,284		$              -		$    361,284
Operating profit
Publishing	$      29,248		$      (6,040	)(a)	$      23,208
Broadcasting	24,342		(2,013	)(b)	22,329
Unallocated corporate	(8,607	)	(980	)(c)	(9,587	)
Income from operations	$      44,983		$      (9,033	)	$      35,950
Depreciation and amortization
Publishing	$        4,228		$              -		$        4,228
Broadcasting	6,448		-		6,448
Unallocated corporate	100		-		100
Total depreciation and amortization	$      10,776		$              -		$      10,776
EBITDA1
Publishing	$      33,476		$      (6,040	)(a)	$      27,436
Broadcasting	30,790		(2,013	)(b)	28,777
Unallocated corporate	(8,507	)	(980	)(c)	(9,487	)
Total EBITDA1	$      55,759		$      (9,033	)	$      46,726
1 EBITDA is earnings from continuing operations before interest, taxes, depreciation, and amortization.
Notes
(a) Severance expense for Publishing operations
(b) Severance expense for Broadcasting operations
(c) Severance expense for Corporate personnel

-6-

Meredith Corporation and Subsidiaries											Schedule 7
Supplemental Disclosures Relating to the Consolidated Statements of Earning (Unaudited)
Special Charge - During the fourth quarter of fiscal 2008, Meredith recorded a special charge which relates primarily to further focusing the scope of its book operations. The special charge included adjusting certain book royalties, art and editorial, and inventory accounts, as well as severance for eliminated positions in book and elsewhere in the Company. Please see Meredith's press release dated June 5, 2008, for additional information relating to the special charge.
Periods Ended June 30, 2008	Three Months						Twelve Months
	Excluding Special Charge		Special Charge		As Reported		Excluding Special Charge		Special Charge		As Reported
(In thousands except per share data)
Revenues
Advertising	$  222,516		$            -		$  222,516		$   930,598		$             -		$   930,598
Circulation	69,465		-		69,465		300,570		-		300,570
All other	92,968		(8,679	)(a)	84,289		329,954		(8,679	)(a)	321,275
Total revenues	384,949		(8,679	)	376,270		1,561,122		(8,679	)	1,552,443
Operating expenses
Production, distribution, and editorial	167,850		4,486	(b)	172,336		669,121		4,486	(b)	673,607
Selling, general, and administrative	140,803		13,266	(c)	154,069		576,765		13,266	(c)	590,031
Depreciation and amortization	13,167		-		13,167		49,153		-		49,153
Total operating expenses	321,820		17,752		339,572		1,295,039		17,752		1,312,791
Income from operations	63,129		(26,431	)	36,698		266,083		(26,431	)	239,652
Interest income	192		-		192		1,090		-		1,090
Interest expense	(5,106	)	-		(5,106	)	(22,390	)	-		(22,390	)
Earnings before income taxes	58,215		(26,431	)	31,784		244,783		(26,431	)	218,352
Income taxes	23,555		(10,334	)	13,221		95,712		(10,334	)	85,378
Earnings from continuing operations	34,660		(16,097	)	18,563		149,071		(16,097	)	132,974
Loss from discontinued operations, net of taxes	596		-		596		1,698		-		1,698
Net earnings	$    35,256		$  (16,097	)	$    19,159		$   150,769		$   (16,097	)	$   134,672
Basic earnings per share
Earnings from continuing operations	$       0.76		$      (0.35	)	$       0.41		$        3.17		$       (0.34	)	$        2.83
Discontinued operations	0.01		-		0.01		0.04		-		0.04
Basic earnings per share	$       0.77		$      (0.35	)	$       0.42		$        3.21		$       (0.34	)	$        2.87
Basic average shares outstanding	45,957		45,957		45,957		46,928		46,928		46,928
Diluted earnings per share
Earnings from continuing operations	$       0.75		$      (0.35	)	$       0.40		$        3.13		$       (0.34	)	$        2.79
Discontinued operations	0.01		-		0.01		0.04		-		0.04
Diluted earnings per share	$       0.76		$      (0.35	)	$       0.41		$        3.17		$       (0.34	)	$        2.83
Diluted average shares outstanding	46,177		46,177		46,177		47,585		47,585		47,585
Notes
(a) Increase in book sales return allowance
(b) Write-down of book inventory and editorial prepaid expenses
(c) Severance expense, write-down of book royalty, and bad debt reserve for Home Interiors Group receivable

-7-

Meredith Corporation and Subsidiaries											Schedule 8
Segment Information (Unaudited)
The following table shows results of operations excluding the special charge and as reported with the difference being the special charge discussed in Schedule 7.
Periods Ended June 30, 2008	Three Months						Twelve Months
	Excluding Special Charge		Special Charge		As Reported		Excluding Special Charge		Special Charge		As Reported
(In thousands)
Revenues
Publishing	$    306,078		$      (8,679	)(a)	$    297,399		$  1,242,517		$      (8,679	)(a)	$  1,233,838
Broadcasting
Non-political advertising	73,246		-		73,246		304,922		-		304,922
Political advertising	1,507		-		1,507		5,447		-		5,447
Other revenues	4,118		-		4,118		8,236		-		8,236
Total broadcasting	78,871		-		78,871		318,605		-		318,605
Total revenues	$    384,949		$      (8,679	)	$    376,270		$  1,561,122		$      (8,679	)	$  1,552,443
Operating profit
Publishing	$      49,695		$    (24,867	)(b)	$      24,828		$    213,208		$    (24,867	)(b)	$    188,341
Broadcasting	19,449		(1,419	)(c)	18,030		79,279		(1,419	)(c)	77,860
Unallocated corporate	(6,015	)	(145	)(d)	(6,160	)	(26,404	)	(145	)(d)	(26,549	)
Income from operations	$      63,129		$    (26,431	)	$      36,698		$    266,083		$    (26,431	)	$    239,652
Depreciation and amortization
Publishing	$        4,789		$              -		$        4,789		$      20,373		$              -		$      20,373
Broadcasting	7,686		-		7,686		26,655		-		26,655
Unallocated corporate	692		-		692		2,125		-		2,125
Total depreciation and amortization	$      13,167		$              -		$      13,167		$      49,153		$              -		$      49,153
EBITDA1
Publishing	$      54,484		$    (24,867	)(b)	$      29,617		$    233,581		$    (24,867	)(b)	$    208,714
Broadcasting	27,135		(1,419	)(c)	25,617		105,934		(1,419	)(c)	104,515
Unallocated corporate	(5,323	)	(145	)(d)	(5,468	)	(24,279	)	(145	)(d)	(24,424	)
Total EBITDA1	$      76,296		$    (26,431	)	$      49,865		$    315,236		$    (26,431	)	$    288,805
1 EBITDA is earnings from continuing operations before interest, taxes, depreciation, and amortization.
Notes
(a) Increase in book sales return allowance
(b) Increase in book sales return allowance; write-down of book inventory, book royalty, and editorial prepaid expense; bad debt reserve for Home Interiors Group receivable, and severance expense for Publishing operations
(c) Severance expense for Broadcasting operations
(d) Severance expense for Corporate personnel

-8-

Meredith Corporation and Subsidiaries											Schedule 9
Supplemental Disclosures Regarding Non-GAAP Financial Measures
EBITDA
Consolidated EBITDA, which is reconciled to earnings from continuing operations in the following tables, is defined as earnings from continuing operations before interest, taxes, depreciation, and amortization.
Segment EBITDA is a measure of segment earnings before depreciation and amortization.
Segment EBITDA margin is defined as segment EBITDA divided by segment revenues.
	Three Months Ended September 30, 2008						Three Months Ended December 31, 2008
	Publishing	Broadcasting	Unallocated Corporate		Total		Publishing	Broadcasting	Unallocated Corporate		Total
(In thousands)
Revenues	$     293,667	$         70,403	$               -		$     364,070		$    276,908	$         84,376	$              -		$    361,284
Operating profit	$       33,890	$         10,696	$       (6,435	)	$       38,151		$     23,208	$         22,329	$      (9,587	)	$      35,950
Depreciation and amortization	3,826	6,069	961		10,856		4,228	6,448	100		10,776
EBITDA	$       37,716	$         16,765	$       (5,474	)	49,007		$     27,436	$         28,777	$      (9,487	)	46,726
Less:
Depreciation and amortization					(10,856	)					(10,776	)
Net interest expense					(5,314	)					(5,246	)
Income taxes					(13,769	)					(13,301	)
Earnings from continuing operations					$       19,068						$      17,403
Segment EBITDA margin	12.8%	23.8%					9.9%	34.1%
	Three Months Ended March 31, 2009						Nine Months Ended March 31, 2009
	Publishing	Broadcasting	Unallocated Corporate		Total		Publishing	Broadcasting	Unallocated Corporate		Total
(In thousands)
Revenues	$     280,320	$         57,274	$               -		$     337,594		$    850,895	$       212,053	$              -		$  1,062,948
Operating profit	$       47,971	$          1,348	$       (5,959	)	$       43,360		$    105,069	$         34,373	$     (21,981	)	$    117,461
Depreciation and amortization	3,789	6,471	454		10,714		11,843	18,988	1,515		32,346
EBITDA	$       51,760	$          7,819	$       (5,505	)	54,074		$    116,912	$         53,361	$     (20,466	)	149,807
Less:
Depreciation and amortization					(10,714	)					(32,346	)
Net interest expense					(4,790	)					(15,350	)
Income taxes					(13,696	)					(40,766	)
Earnings from continuing operations					$       24,874						$      61,345
Segment EBITDA margin	18.5%	13.7%					13.7%	25.2%

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Meredith Corporation and Subsidiaries											Schedule 10
Supplemental Disclosures Regarding Non-GAAP Financial Measures
EBITDA
Consolidated EBITDA, which is reconciled to earnings from continuing operations in the following tables, is defined as earnings from continuing operations before interest, taxes, depreciation, and amortization.
Segment EBITDA is a measure of segment earnings before depreciation and amortization.
Segment EBITDA margin is defined as segment EBITDA divided by segment revenues.
	Three Months Ended September 30, 2007						Three Months Ended December 31, 2007
	Publishing	Broadcasting	Unallocated Corporate		Total		Publishing	Broadcasting	Unallocated Corporate		Total
(In thousands)
Revenues	$     320,721	$         74,551	$               -		$     395,272		$    300,986	$         87,637	$              -		$    388,623
Operating profit	$       54,946	$         13,577	$       (8,333	)	$       60,190		$     44,258	$         27,564	$      (7,024	)	$      64,798
Depreciation and amortization	5,196	6,378	540		12,114		5,300	6,329	391		12,020
EBITDA	$       60,142	$         19,955	$       (7,793	)	72,304		$     49,558	$         33,893	$      (6,633	)	76,818
Less:
Depreciation and amortization					(12,114	)					(12,020	)
Net interest expense					(5,811	)					(5,438	)
Income taxes					(21,208	)					(24,302	)
Earnings from continuing operations					$       33,171						$      35,058
Segment EBITDA margin	18.8%	26.8%					16.5%	38.7%
	Three Months Ended March 31, 2008						Three Months Ended June 30, 2008
	Publishing	Broadcasting	Unallocated Corporate		Total		Publishing	Broadcasting	Unallocated Corporate		Total
(In thousands)
Revenues	$     314,732	$         77,546	$               -		$     392,278		$    297,399	$         78,871	$              -		$    376,270
Operating profit	$       64,309	$         18,689	$       (5,032	)	$       77,966		$     24,828	$         18,030	$      (6,160	)	$      36,698
Depreciation and amortization	5,088	6,262	502		11,852		4,789	7,686	692		13,167
EBITDA	$       69,397	$         24,951	$       (4,530	)	89,818		$     29,617	$         25,716	$      (5,468	)	49,865
Less:
Depreciation and amortization					(11,852	)					(13,167	)
Net interest expense					(5,137	)					(4,914	)
Income taxes					(26,647	)					(13,221	)
Earnings from continuing operations					$       46,182						$      18,563
Segment EBITDA margin	22.0%	32.2%					10.0%	32.6%
	Year Ended June 30, 2008
	Publishing	Broadcasting	Unallocated Corporate		Total
(In thousands)
Revenues	$   1,233,838	$       318,605	$               -		$   1,552,443
Operating profit	$     188,341	$         77,860	$      (26,549	)	$     239,652
Depreciation and amortization	20,373	26,655	2,125		49,153
EBITDA	$     208,714	$       104,515	$      (24,424	)	288,805
Less:
Depreciation and amortization					(49,153	)
Net interest expense					(21,300	)
Income taxes					(85,378	)
Earnings from continuing operations					$     132,974
Segment EBITDA margin	16.9%	32.8%

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