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Meredith continues to eye expansion

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Meredith Corp. hopes to expand its offering of women’s health titles, company leaders said during a presentation Wednesday at the UBS Global Media and Communications Conference in New York.

In response to a question about Meredith’s interest in acquiring some of Time Inc.’s health titles, executives would not comment on specific acquisition opportunities but said the company continues to look for ways to reach more women. Meredith currently reaches 75 million women each year.

“We are always open to looking at properties that we think would extend our media footprint and contribute to building shareholder value,” spokesman Art Slusark said this morning.

Meredith affirmed its fiscal 2008 earnings guidance and gave an overview of the company’s performance during the past year at the UBS event. The Associated Press reported that Meredith expects its earnings for fiscal 2008 to be between $3.50 and $3.55 per share. Analysts project earnings of $3.57 per share. Helping drive the business is strong advertising sales and new business opportunities in the company’s publishing divisions.

At yesterday’s presentation, company CEO Steve Lacy discussed how Meredith has evolved to have a much broader reach in the publishing industry beyond home topics, which now include family, health and wellness. Lacy also said Meredith expects advertising revenues in publishing to increase 10 percent in the first half of fiscal 2008, with strength in several of its key brands. Also through licensing agreements with its Better Homes and Gardens brand, the company expects revenues in this area to increase by $10 million to $12 million by 2009.

Integrated marketing has become another key area for the company. Meredith recently won the bid to help build the online presence of Principal Financial Group Inc.’s “Plan Ahead, Get Ahead” custom publication, and will create one of the largest custom publishing programs for Kraft Foods Inc.

To hear or read the complete presentation, visit www.meredith.com and click on “investor relations.”