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MEREDITH SELLS METROPOLITAN HOME MAGAZINE TO HACHETTE PUBLICATIONS

 MEREDITH SELLS METROPOLITAN HOME MAGAZINE TO HACHETTE PUBLICATIONS
 DES MOINES, Iowa, Nov. 3 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) announced today it has sold Metropolitan Home magazine to Hachette Publications, Inc.
 "This move is a good strategic decision for both companies," said Meredith Magazine Group President and Corporate Executive Vice President William T. Kerr. "The Meredith Magazine Group has reached a point where we want to concentrate on home service and shelter segments outside of the affluent, contemporary design field. Hachette regards Metropolitan Home as an excellent complement to its mix of design titles.
 "I admire the fine work of Publisher Steve Burzon, Editor in Chief Dorothy Kalins and the Metropolitan Home staff," said Kerr. "They've all been steadfast in their commitment to publishing a quality magazine in an intensely competitive field."
 The purchase price was not disclosed, however, the sale will have no material impact on Meredith Corporation earnings.
 The Meredith Magazine Group publishes and markets a variety of home and family magazines including Better Homes and Gardens, Ladies' Home Journal, Cross Stitch & Country Crafts, Country Home, Country Home Country Gardens, Country America, Midwest Living, Traditional Home, WOOD, Weekend Woodworking Projects, Decorative Woodcrafts, Successful Farming, Golf for Women, foreign versions of Better Homes and Gardens, the American Park Network, and nearly 30 Better Homes and Gardens Special Interest Publications.
 Meredith Corporation, headquartered in Des Moines, is a Fortune 500 diversified media company involved in magazine and book publishing, television broadcasting, residential real estate marketing and franchising, and investments in cable television.
 Hachette Publications, Inc., a subsidiary of Hachette S.A., publishes a variety of consumer magazines including Woman's Day, ELLE, Elle Decor, HOME magazine, Stereo Review, Cycle World, and Car and Driver.
 -0- 11/3/92
 /CONTACT: Robin Lenocker of Meredith, 515-284-3386 or (home) 515-279-3744/
 (MDP) CO: Meredith Corporation ST: Iowa IN: PUB SU:


AL -- MN006 -- 2038 11/03/92 11:40 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Nov 3, 1992
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