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Meredith Corporation Meredith o HEALTHY PREGNANCY, HAPPY BABY MARCH/APRIL 2014 A LIGHTER SEPTEMBER 2014 A new kind of food magazine from the world’s largest food community BRUNCH CLASSIC ® April 2013 SER MAYO 2014 PAGE 97 ® ® EJEMPLAR ® PadresGRATIS PARA TI GEAR FOR Easy, 46 ¡FELIZ DÍA, EVERY Healthy QUICK & Fresh, fast, MAMI! BUDGET Dinners FRESH SUCCESSFUL FARMING Car Seats, High Chairs, RECIPES NUEVOS TIPS PARA... Strollers—And Lots More! IN A BOWL five stars! ● la armonía familiar ★ ★ ★ ★ ★ ● evitar el estrés THE TRUTH ABOUT top-rated ways to cook up wow! ● renovar tu look Flattering spring’s best flavors Swimsuits For LIKE THIS DELICIOUS pasta primavera UN DÍA CON Expecting Moms SODIUM ANIMALES MEXICAN MADE RIGHT ® ARE YOU BUYING 9 destinos FEEL GREAT tacos, enchiladas, burritos, únicos PREGNANT guac, and more Find Out What Those The Right Cinco First Flutters And de Mayo Kicks Mean, After P. 14 Meat? Smash Compaction, Curb 6 recetas &PEPPERY 100+ típicas para Your Formula CRISP RADISHES! TIPS&TRICKS Erosion, And Salvage Excess N una fiesta Q’s, Answered Tiny Gardens that will save you inolvidable The Scoop From Top Docs TIME AND MONEY! With These Secondary Crops p.42 www.agriculture.com Big Rewards VOCES FISH YOU’LL CUANDO WIN $15,000! FLIP FOR! Who Owns Your ESTÁN PAGE 8 Precious Data? p. 32 ABURRIDOS easy, everyday recipes Steps to Hiring the 6 Right Employee p. 55 ® 25 HEALTHY SNACKS Baja la app Mom+ Al Kluis: Grain Storage (ve cómo en MAKE-AHEAD WEEKNIGHT MEALS la pág. 6) para crear May Add to Your manualidades para “What’s not to love about a pasta dish regalarle a mamá. PLUS: Bottom Line. p. 17 EASY ORGANIZING IDEAS SER Visita packed with healthy vegetables? I felt For families who make farming and ranching their business™ | September 2013 | Vol. 111 | No. 10 | agriculture.com .com JUNE 2014 • AMERICANBABY.COM great serving this to my family.” —LISACT APRIL/MAY 2014 ON DIAPER DUTY Padres INCORPORATING SINCE 1935 FRESH IDEAS FOR NEW MOMS SCULPT SEXY ARMS NOW Push Your Limits! The Mental Trick to Boost Workout Results Win the Zombie Wars Cures for the Dead (Tired) No Mess, Flat-Belly Moves No Stress Trainers Swear By Amazing One-Dish Dinners Hot Hair! Work Magic Diet With Your Shocker Blow-Dryer Restaurant Fat Traps Annual Report 2014 Annual Report to Avoid com The Health Drink That Helps You Drop Pounds Our Mission We are Meredith Corporation, a publicly held that serve well-defined readers and viewers, deliver media and marketing company founded upon the messages of advertisers and extend our brand service to our customers and committed to franchises and expertise to related markets. building value for our shareholders. Our products and services distinguish themselves Our cornerstone is a commitment to service on the basis of quality, customer service and value journalism. From that, we have built businesses that can be trusted. Meredith Corporation • 1716 Locust Street Des Moines, IA 50309-3023 2014 ANNUAL REPORT 800-284-3000 • www.meredith.com Financial Highlights Corporate Information MEREDITH CORPORATION REGISTRAR AND TRANSFER AGENT Meredith Corporation (NYSE: MDP; www.meredith.com) Wells Fargo Bank, N.A., PO Box 64854, St. Paul, MN has been committed to service journalism for more than 55164-0854 or 1110 Centre Pointe Curve, Suite 101, (In millions except per share data) Years Ended June 30 110 years. Today, Meredith uses multiple distribution Mendota Heights, MN 55120-4100, 800-468-9716 or platforms – including broadcast television, print, digital, 651-450-4064; email: [email protected] 2014 2013 2012 2011 2010 mobile, tablets and video – to provide consumers with GAAP Results content they desire and to deliver the messages of its DIVIDEND REINVESTMENT Revenues $ 1,469 $ 1,471 $ 1,377 $ 1,400 $ 1,383 advertising and marketing partners. Meredith Corporation offers a dividend reinvestment plan that automatically reinvests shareholder dividends for the Income from operations 187 211 186 225 185 ANNUAL MEETING purchase of additional shares of stock. To obtain more Net earnings 114 124 104 127 104 Holders of Meredith Corporation stock are invited to information or to join the plan, contact Wells Fargo at attend the annual meeting of shareholders at 10 a.m. 800-468-9716 or write to the preceding addresses. Total assets 2,544 2,140 2,016 1,713 1,727 Central Standard Time on November 12, 2014, at the Company’s principal office, 1716 Locust St., Des Moines, IA. FORM 10-K Non-GAAP Results A copy of the Meredith Corporation Fiscal 2014 Annual STOCK EXCHANGE Report on Form 10-K to the Securities and Exchange Adjusted earnings per share (1) $ 2.80 $ 2.91 $ 2.50 $ 2.81 $ 2.27 Common stock of Meredith Corporation is listed on the Commission (SEC) is included in this report and available New York Stock Exchange. The exchange symbol for at www.meredith.com. Additional copies are available EBITDA(2) 246 256 230 265 226 Meredith is MDP. CUSIP Number: 589433101 without charge to shareholders by calling 800-284-3000. Class B stock of Meredith Corporation (issued as a The Company has filed as an exhibit to the Annual Report dividend on common stock in December 1986) is not on Form 10-K the certification of its chief executive officer listed. The transfer of Class B stock is limited to the lineal and chief financial officer required by Section 302 of the descendants of original owners, their spouses, or trusts/ Sarbanes-Oxley Act. family partnerships for the benefit of those persons. QUARTERLY INFORMATION Adjusted EPS (1) Dividends Per Share (3) Requests for transfer to any other person or entity will require a share-for-share conversion to common stock. To receive copies of Meredith Corporation quarterly SEC 5-Year CAGR: 6% 5-Year CAGR: 14% Conversion prior to sale is recommended. CUSIP Number: filings, earnings releases and dividend releases, please visit 589433200 www.meredith.com, or call toll-free at 800-284-3000. The Company’s Chairman and Chief Executive Officer has $2.91 $1.75 $1.73 INVESTOR CONTACT $3.00 $2.81 certified to the New York Stock Exchange that he is not $2.80 $1.63 Meredith Corporation Investor Relations $1.53 aware of any violation by the Company of the New York 1716 Locust Street, Des Moines, IA 50309-3023 $2.50 1.50 Stock Exchange Corporate Governance Listing Standards. 2.50 800-284-3000 • www.meredith.com $2.27 The most recently required certification was submitted to 1.25 the exchange on November 19, 2013. 2.00 $1.02 1.00 $0.92 1.50 NATIONAL MEDIA LOCAL MEDIA 0.75 ® ® 1.00 ® 0.50 Atlanta Phoenix ® 0.50 0.25 ® ® ® $0 $0 ® St. Louis Portland 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 ® ® ® ® Nashville Hartford - Kansas City New Haven ® ® Non-GAAP amounts are not in accordance with GAAP (accounting principles generally accepted in the United States of America). While management believes these measures contribute to an understanding of the Company’s financial performance, they should not be considered in isolation or as a Greenville - Asheville Las Vegas Flint - Saginaw ® ® substitute for measures of performance prepared in accordance with GAAP. See “Reconciliation of Non-GAAP Financial Measures” in the Appendix immediately following the included Form 10-K. (1) From continuing operations adjusted for special items. Springfield - Holyoke (2) EBITDA – Earnings from continuing operations before interest, taxes, depreciation and amortization. (3) Annualized dividend per share at end of fiscal year. To Our Shareholders On behalf of Meredith Corporation and our more than 3,600 employees, we want to thank you for your investment in our Company. As a shareholder, you’ve trusted us with your financial resources, and that’s a responsibility we take very seriously. At Meredith, we are executing a strategic plan to grow our strong connections with the individual consumer, enhance our portfolio of brands, and increase the amount of cash returned to shareholders through dividends and share repurchases. We call this our Total Shareholder Return strategy, and we’ve produced a return of nearly 120 percent since launching it in October 2011. Stepping back to look at fiscal 2014, several accomplishments stand out: First, we significantly grew our Local Media Group We also agreed to buy WGGB, the ABC affiliate in footprint by acquiring the broadcast assets of Springfield, MA. We expect to close on this acquisition stations in two markets. These stations are: in early fiscal 2015. WGGB is also the Fox affiliate, airing on a digital tier. This will give us another ⊲ KTVK, an independent station in Phoenix, the duopoly when combined with the CBS affiliate we nation’s 12th largest television market. KTVK already own in the market, greatly enhancing our produces more hours of local news than any competitive positioning. station in Phoenix. Additionally, Phoenix is now a duopoly market for us, as we also own KPHO, In August 2014, we announced an agreement to the CBS affiliate. purchase WALA, the Fox affiliate in Mobile-Pensacola. This is a high-performing station that adds to our ⊲ KMOV, the CBS affiliate in St. Louis, the portfolio of stations in growing markets in the nation’s 21st largest television market. KMOV southeastern United States. is a top performer, consistently garnering the most viewers in several news timeslots. We When we close on these latest acquisitions, we will now operate the two largest CBS affiliates in have 17 owned or operated stations with five highly Missouri: KMOV in St. Louis and KCTV in profitable duopoly markets. Our stations are Kansas City. concentrated in larger markets, including 7 in Top 25 markets and 15 in the Top 60.

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