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 14, 1994
Meredith Corporation
(Exact name of registrant as specified in its charter)
Iowa 1-5128 42-0410230
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1716 Locust Street, Des Moines, Iowa 50309-3023
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code 515 - 284-3000
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Item 5. Other Events.
Reference is made to Part II - OTHER INFORMATION, Item 1, Legal Proceedings. as
reported in Meredith Corporation's Form 10-Q report for the quarterly period
ended December 31, 1993.
On March 14, 1994, Meredith Corporation received a favorable decision from the
United States Tax Court relating to the federal income tax deficiency notices
for its 1986 through 1990 tax years.
The dominant issue, determined in favor of the Company, involved the tax basis
and ability to amortize the Ladies' Home Journal subscriber relationships.
Because the Tax Court applied the 1993 decision of the United States Supreme
Court in Newark Morning Ledger Co. v. United States to the facts of the
Company's case, the Company believes an appeal by the Internal Revenue Service
of the Tax Court's opinion is unlikely.
If the Internal Revenue Service does not appeal the Tax Court's decision, the
Company has no remaining exposure to the $12 million potential tax cost that
was previously reported. In addition, the Company believes this decision may
have a material and favorable impact on its net earnings.
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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
(Larry D. Hartsook)
Larry D. Hartsook
Vice President - Finance
(Principal Financial and
Accounting Officer)
Date: March 22, 1994
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