EXHIBIT 99
                                                                    ----------




                   MEREDITH CORPORATION COMPLETES ACQUISITION
                     OF HARTFORD, CONN., TELEVISION STATION




DES MOINES, IA -- (September 4, 1997) -- Meredith Corporation announced today
it has completed its acquisition of WFSB-TV, the CBS affiliate serving
Hartford-New Haven, CT, in exchange for WCPX-TV, the CBS affiliate serving
Orlando, FL, which it acquired today from First Media Television, L.P.  Terms
of the agreement to acquire WFSB from Post-Newsweek Stations, Inc., a wholly
owned subsidiary of The Washington Post Co., call for an exchange of assets
plus a $60 million cash payment to Meredith.

Meredith's Broadcasting Group now comprises 11 stations that reach nearly 8
percent of the nation's TV households:  KPHO-TV, CBS, Phoenix; WOFL-TV, Fox,
Orlando; KPDX, Fox, Portland, Ore.; WFSB, CBS, Hartford-New Haven; KCTV, CBS,
Kansas City; WSMV, NBC, Nashville; WHNS, Fox, Greenville, S.C.; WNEM, CBS,
Flint-Saginaw; KVVU, Fox, Las Vegas; WOGX-TV, Fox, Ocala-Gainesville; and
KFXO-LP, Fox, Bend, Ore.

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 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.