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<TITLE>Meredith Corporation</TITLE>
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<B><FONT SIZE=3><P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
</P>
</FONT><FONT SIZE=4><P ALIGN="CENTER">FORM 8-K<BR>
</P>
</FONT><P ALIGN="CENTER">CURRENT REPORT</P>
<P ALIGN="CENTER">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</P>
</B><P ALIGN="CENTER"></TD>
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<P>&nbsp;</P>
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<P ALIGN="CENTER">Date of Report (Date of earliest event reported):<B>&nbsp;&nbsp;March 27, 2007</P>
</B></FONT></TD>
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<P>&nbsp;</P>
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<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="94%" VALIGN="TOP">
<B><FONT SIZE=5><P ALIGN="CENTER">MEREDITH CORPORATION</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="94%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
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<P>&nbsp;</P>
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<B><FONT SIZE=3><P ALIGN="CENTER">IOWA</B></FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">1-5128</B></FONT></TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=3><P ALIGN="CENTER">42-0410230</B></FONT></TD>
</TR>
<TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="CENTER">(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(Commission file number)</FONT></TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="CENTER">(I.R.S. Employer Identification No.)</FONT></TD>
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<TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">1716 Locust Street, Des Moines, Iowa</B></FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=3><P ALIGN="CENTER">50309-3023</B></FONT></TD>
</TR>
<TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="CENTER">(Address of principal executive offices)</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="CENTER">(Zip Code)</FONT></TD>
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<TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
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<TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<B><FONT SIZE=3><P ALIGN="CENTER">(515) 284-3000</B></FONT></TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P ALIGN="CENTER">(Registrant's telephone number,<BR>
 including area code)</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="41%" VALIGN="TOP" COLSPAN=2 style="border-bottom-style: solid; border-bottom-width: 1">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" style="border-bottom-style: solid; border-bottom-width: 1">&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=2 style="border-bottom-style: solid; border-bottom-width: 1">&nbsp;</TD>
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<FONT SIZE=3>
<P>&nbsp;</P>
<P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

</FONT><FONT SIZE=2><P>[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P>[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P>[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P>[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P>&nbsp;</P>
<hr>
<P>&nbsp;</P>
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<B><FONT SIZE=3><P>Item 2.05</B></FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=18>
<B><FONT SIZE=3><P>Costs Associated with Exit or Disposal Activities</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=18>
<FONT SIZE=3><P>&nbsp;</FONT></TD>
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<P>On March&nbsp;27, 2007, Management committed to and announced a restructuring plan that will include the discontinuation of the print operations of <I>Child</I> magazine and the elimination of a number of positions throughout the remainder of the organization. The restructuring will impact approximately 60 employees. These decisions were made to help align the Company with its current business strategy and strengthen its future positioning.</P>

<P>In connection with this plan, the Company expects to record a pre-tax restructuring charge in the third quarter of fiscal 2007 of approximately $10 million as follows: </P>

<P>o     The write-down of various assets of <I>Child</I> magazine of approximately $7 million. Most of this charge relates
to the write-off of deferred subscription acquisition costs.</P>

<P>o     Severance and benefit costs of approximately $3 million.</P>

<P>In addition, the Company will be vacating certain leased space as part of the restructuring plan. The Company is currently determining the related charge and expects a charge of approximately $2 million to $4 million to be recorded in the fourth quarter of fiscal 2007 in accordance with Statement of Financial Accounting Standards No.&nbsp;146, <I>Accounting for Costs Associated with Exit or Disposal Activities</I>.</P>

<P>All of the above charges will result in future cash expenditures, except for the $7 million asset write-down, which is a non-cash charge.</P>

<P>Additionally, in the third fiscal quarter of 2007, Management committed to a plan to sell the Company's Chattanooga television station. The preliminary negotiated price is less than the Company's carrying amount of the net assets of the station. As a result, the Company will record a pre-tax non-cash goodwill impairment charge in the third quarter of fiscal 2007 of approximately $3 million. </P>

<P>The amounts of the charges are preliminary and remain subject to change.</P>

<P>Further information is set forth in the press release attached as Exhibit&nbsp;99.1, which is incorporated herein by reference.</P>

<P>&nbsp;</P></FONT>
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<B><FONT SIZE=3><P>Item 9.01</B></FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=18>
<B><FONT SIZE=3><P>Financial Statements and Exhibits</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=18>
<FONT SIZE=3><P>&nbsp;</FONT></TD>
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<FONT SIZE=3>
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<FONT SIZE=3><P>&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=18>
<FONT SIZE=3><P>(c)</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" COLSPAN=2 HEIGHT=18>
<FONT SIZE=3><P>Exhibits</FONT></TD>
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<FONT SIZE=3><P>&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=18>
<FONT SIZE=3><P>&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=18>
<FONT SIZE=3><P>99.1</FONT></TD>
<TD WIDTH="81%" VALIGN="TOP" HEIGHT=18>
<FONT SIZE=3><P>Press release issued by Meredith Corporation dated March&nbsp;27, 2007.</FONT></TD>
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<P>&nbsp;</P></FONT>
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<P ALIGN="JUSTIFY"></TD>
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<B><FONT SIZE=3><P ALIGN="CENTER">SIGNATURE</B></FONT></TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
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<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
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<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="32%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
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<FONT SIZE=3><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></TD>
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<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="23%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>MEREDITH CORPORATION<BR>
Registrant</FONT></TD>
<TD WIDTH="23%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="23%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>/s/ Suku V. Radia</FONT></TD>
<TD WIDTH="23%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="23%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>Suku V. Radia<BR>
Vice President - Chief Financial Officer<BR>
(Principal Financial and Accounting Officer)</FONT></TD>
<TD WIDTH="23%" VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>

<FONT SIZE=3>
<P>&nbsp;</P></FONT>
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<TR><TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>Date:</FONT></TD>
<TD WIDTH="90%" VALIGN="TOP">
<FONT SIZE=3><P>March 29, 2007</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">&nbsp;</TD>
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<P>&nbsp;</P>
<hr>
<P ALIGN="left">&nbsp;<CENTER>
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<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="96%" VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">Index to Exhibits</B></TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="86%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="86%" VALIGN="TOP">&nbsp;</TD>
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<TR><TD WIDTH="4%" VALIGN="TOP" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">
<FONT SIZE=3><P>Exhibit Number</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">
<FONT SIZE=3>
<P ALIGN="CENTER"><br>
Item</FONT></TD>
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<TR><TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="86%" VALIGN="TOP">&nbsp;</TD>
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<TD WIDTH="10%" VALIGN="TOP">
<FONT SIZE=3><P ALIGN="CENTER">99.1</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=3><P>Press release issued by Meredith Corporation dated March&nbsp;27, 2007.</FONT></TD>
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Meredith Corporation
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 27, 2007
MEREDITH CORPORATION
(Exact name of registrant as specified in its charter)
IOWA
1-5128
42-0410230
(State or other jurisdiction of
incorporation or organization)
(Commission file number)
(I.R.S. Employer Identification No.)
1716 Locust Street, Des Moines, Iowa
50309-3023
(Address of principal executive offices)
(Zip Code)
(515) 284-3000
(Registrant's telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.05
Costs Associated with Exit or Disposal Activities
On March 27, 2007, Management committed to and announced a restructuring plan that will include the discontinuation of the print operations of
Child
magazine and the elimination of a number of positions throughout the remainder of the organization. The restructuring will impact approximately 60 employees. These decisions were made to help align the Company with its current business strategy and strengthen its future positioning.
In connection with this plan, the Company expects to record a pre-tax restructuring charge in the third quarter of fiscal 2007 of approximately $10 million as follows:
o     The write-down of various assets of
Child
magazine of approximately $7 million. Most of this charge relates
to the write-off of deferred subscription acquisition costs.
o     Severance and benefit costs of approximately $3 million.
In addition, the Company will be vacating certain leased space as part of the restructuring plan. The Company is currently determining the related charge and expects a charge of approximately $2 million to $4 million to be recorded in the fourth quarter of fiscal 2007 in accordance with Statement of Financial Accounting Standards No. 146,
Accounting for Costs Associated with Exit or Disposal Activities
.
All of the above charges will result in future cash expenditures, except for the $7 million asset write-down, which is a non-cash charge.
Additionally, in the third fiscal quarter of 2007, Management committed to a plan to sell the Company's Chattanooga television station. The preliminary negotiated price is less than the Company's carrying amount of the net assets of the station. As a result, the Company will record a pre-tax non-cash goodwill impairment charge in the third quarter of fiscal 2007 of approximately $3 million.
The amounts of the charges are preliminary and remain subject to change.
Further information is set forth in the press release attached as Exhibit 99.1, which is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits
(c)
Exhibits
99.1
Press release issued by Meredith Corporation dated March 27, 2007.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MEREDITH CORPORATION
Registrant
/s/ Suku V. Radia
Suku V. Radia
Vice President - Chief Financial Officer
(Principal Financial and Accounting Officer)
Date:
March 29, 2007
Index to Exhibits
Exhibit Number
Item
99.1
Press release issued by Meredith Corporation dated March 27, 2007.