Item 2.05 Costs Associated with Exit or Disposal Activities.

On January 8, 2009, Meredith Corporation (the "Company") announced that it had recorded a pre-tax special charge of approximately $16 million in the second quarter of its fiscal year ended June 30, 2009. The charge included:

1) A $10 million charge related to the cost of a Companywide workforce reduction of approximately 275 employees. Approximately 25 of these positions will be offset with new positions created as the Company relocates certain functions including the relocation of the creative functions of ReadyMade magazine and Parents.com to its Des Moines headquarters.

2) The write-off of deferred subscriber costs, manuscripts and artwork of $6 million related to Country Home magazine which will be closed effective with the March 2009 issue.

These actions were committed to in December 2008 and are related to an effort to improve operating efficiencies as the recessionary economy has significantly impacted the Company's advertising revenue. The $10 million charge associated with the workforce reduction relates to severance costs and will result in future cash expenditures. These actions will largely be completed by the end of the Company's 2009 fiscal year.

The Company's news release concerning same is attached as an exhibit.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

99 News release issued by Meredith Corporation dated January 8, 2009, concerning special charge taken in the second quarter of its fiscal year ended June 30, 2009.

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