Exhibit 99
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              MEREDITH CORPORATION COMPLETES STATION PURCHASE



DES MOINES, IA  -- (July 1, 1997) -- Meredith Corporation announced today it
has completed the purchase of three television stations from First Media
Television, L.P.:  KPDX-TV, the Fox affiliate serving Portland, Ore.; KFXO-TV,
the Fox affiliate serving Bend, Ore.; and WHNS-TV, the Fox affiliate serving
Asheville, N.C.-Greenville, S.C.  Total purchase price was $216 million.

Meredith's Broadcasting Group now comprises 10 stations; in addition to the
stations listed above, the group includes KCTV, the CBS affiliate in Kansas
City; KPHO-TV, the CBS affiliate in Phoenix; KVVU-TV, the Fox affiliate in Las
Vegas; WNEM-TV, the CBS affiliate in Flint-Saginaw, Mich.; WOFL-TV, the Fox
affiliate in Orlando; WOGX-TV, the Fox affiliate in Ocala-Gainesville, Fla.;
and WSMV-TV, the NBC affiliate in Nashville.  The group will grow to 11
stations when the anticipated purchase of WFSB-TV, the CBS affiliate serving
Hartford-New Haven, is completed this fall.

Meredith Corporation, headquartered in Des Moines, Iowa, is one of America's
leading media and marketing companies.  Meredith businesses center on magazine
and book publishing, television broadcasting, residential real estate marketing
and franchising, and brand licensing.

The Meredith Broadcasting Group includes 10 television stations in locations
across the continental United States:  KPHO-TV (CBS) in Phoenix; WOFL-TV (FOX)
in Orlando; KPDX-TV (FOX) in Portland, Ore.; KCTV (CBS) in Kansas City; WSMV-TV
(NBC) in Nashville; WHNS (FOX) in Asheville, N.C.-Greenville, S.C.; KVVU-TV
(FOX) in Las Vegas; WNEM-TV (CBS) in Flint-Saginaw, Mich.; WOGX-TV (FOX) in
Ocala-Gainesville, Fla.; and KFXO-TV (FOX) in Bend, Ore.

The Meredith Publishing Group is the country's foremost home and family
publisher.  The group creates and markets magazines including Better Homes and
Gardens, Ladies' Home Journal, Country Home, Country Home Country Gardens,
Country America, Midwest Living, Traditional Home, Renovation Style, WOOD,
Family Money, American Patchwork & Quilting, Decorative Woodcrafts, Cross
Stitch & Needlework, Crafts Showcase, Floral & Nature Crafts, Successful
Farming, Mature Outlook, Crayola Kids, Golf for Women, the American Park
Network, 42 Special Interest Publications, custom publications through Meredith
Custom Publishing, and books titled under Meredith trademarks including the
popular Better Homes and Gardens New Cook Book.