UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
11-K
ANNUAL
REPORT PURSUANT TO SECTION 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
|
For
the fiscal year ended
December 31, 2008
|
Commission
file number 1-5128
|
MEREDITH
SAVINGS AND INVESTMENT PLAN
|
(Full
title of the plan and the address of the plan, if different from that of
the issuer named below)
|
Meredith
Corporation
1716
Locust Street
Des
Moines, Iowa 50309-3023
|
(Name
of issuer of the securities held pursuant to the plan and the address of
its principal executive office)
|
REQUIRED
INFORMATION
4. Financial
Statements and Supplemental Schedule for the Plan
The
Meredith Savings and Investment Plan (the Plan) is subject to the Employee
Retirement Income Security Act of 1974 (ERISA). In lieu of the requirements of
Items 1 - 3 of this Form, the Plan is filing financial statements and
supplemental schedule prepared in accordance with the financial reporting
requirements of ERISA. The Plan financial statements as of December 31,
2008 and 2007, and for the year ended December 31, 2008, and supplemental
schedule as of December 31, 2008, have been audited by KPMG LLP,
Independent Registered Public Accounting Firm, and their report is included
herein.
EXHIBITS
23. Consent
of Independent Registered Public Accounting Firm, KPMG LLP
MEREDITH
SAVINGS AND INVESTMENT PLAN
|
|
Financial
Statements as of December 31, 2008 and 2007,
|
and
for the Year Ended December 31, 2008,
|
Supplemental
Schedule as of December 31, 2008,
|
and
Report of Independent Registered Public Accounting
Firm
|
TABLE
OF CONTENTS
|
|
|
Page
|
|
|
Report
of Independent Registered Public Accounting Firm |
1
|
|
|
Financial
Statements
|
|
|
|
Statements
of Net Assets Available for Benefits as of December 31, 2008 and
2007
|
2
|
|
|
Statement
of Changes in Net Assets Available for Benefits for the Year Ended
December 31,
2008
|
3
|
|
|
Notes
to Financial
Statements
|
4
|
|
|
Supplemental
Schedule
|
|
|
|
Form
5500, Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
as
of December 31,
2008
|
10
|
|
|
|
|
Note: All
other schedules required by Section 2520.103-10 of the Department of
Labor’s Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974 have been omitted because
they are not
applicable.
|
Report
of Independent Registered Public Accounting Firm
Meredith
Savings and Investment Plan Committee:
We have
audited the accompanying statements of net assets available for benefits of the
Meredith Savings and Investment Plan (the Plan) as of December 31, 2008 and
2007, and the related statement of changes in net assets available for benefits
for the year ended December 31, 2008. These financial statements are the
responsibility of the Plan’s management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our
opinion, the financial statements referred to above present fairly, in all
material respects, the net assets available for benefits of the Plan as of
December 31, 2008 and 2007, and the changes in net assets available for benefits
for the year ended December 31, 2008, in conformity with U.S. generally
accepted accounting principles.
Our
audits were performed for the purpose of forming an opinion on the basic
financial statements of the Plan taken as a whole. The supplemental Schedule H,
line 4i – schedule of assets (held at year end) as of December 31, 2008, is
presented for the purpose of additional analysis and is not a required part of
the basic financial statements but is supplementary information required by the
Department of Labor’s Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. This supplemental schedule
is the responsibility of the Plan’s management. The supplemental
schedule has been subjected to the auditing procedures applied in the audits of
the basic financial statements and, in our opinion, is fairly stated, in all
material respects, in relation to the basic financial statements taken as a
whole.
/s/ KPMG
LLP
Des
Moines, Iowa
June 25,
2009
Meredith
Savings and Investment Plan
Statements
of Net Assets Available for Benefits
Assets
|
December
31,
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Investments,
at fair value
|
$
|
173,397,215
|
|
$
|
255,318,486
|
|
Employee
contribution receivable
|
|
-
|
|
|
436
|
|
Employer
contribution receivable
|
|
-
|
|
|
297
|
|
Net
assets available for benefits at fair value
|
|
173,397,215
|
|
|
255,319,219
|
|
Adjustment
from fair value to contract value for fully
benefit-responsive
investment contracts
|
|
2,146,134
|
|
|
113,844
|
|
Net
assets available for benefits
|
$
|
175,543,349
|
|
$
|
255,433,063
|
|
See
accompanying Notes to Financial Statements.
Meredith
Savings and Investment Plan
Statement
of Changes in Net Assets Available for Benefits
Year
Ended December 31,
|
|
2008
|
|
|
|
|
|
Additions
to (reductions in) net assets attributed to
|
|
|
|
Investment
income (loss)
|
|
|
|
Net
depreciation in fair value of investments
|
$
|
(84,021,120
|
)
|
Dividend
income
|
|
1,657,274
|
|
Total
investment loss, net
|
|
(82,363,846
|
)
|
Contributions
|
|
|
|
Participant
|
|
17,689,961
|
|
Employer
|
|
8,091,483
|
|
Rollovers
|
|
1,430,731
|
|
Total
contributions
|
|
27,212,175
|
|
Total
reductions, net
|
|
(55,151,671
|
)
|
Deductions
from net assets attributed to
|
|
|
|
Benefits
paid to participants
|
|
24,738,043
|
|
Net
decrease in net assets available for benefits
|
|
(79,889,714
|
)
|
Net
assets available for benefits at beginning of year
|
|
255,433,063
|
|
Net
assets available for benefits at end of year
|
$
|
175,543,349
|
|
See
accompanying Notes to Financial Statements.
|
|
|
|
Meredith
Savings and Investment Plan
Notes
to Financial Statements
1. Description
of Plan
The
following description of the Meredith Savings and Investment Plan (the Plan)
provides only general information. Participants should refer to the Plan
Document for a more complete description of the Plan's provisions.
General -
The Plan is a defined contribution plan covering substantially all employees of
Meredith Corporation (Meredith or the Company). The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974
(ERISA).
Contributions - Full and part-time
employees are eligible to begin contributions to the Plan at any time. Temporary
and on-call employees must work 1,000 hours and complete a year of service to be
eligible to make Plan contributions. On a pretax basis, employees may contribute
a maximum of 50 percent of their compensation to the Plan, subject to certain
limitations. To be eligible to receive Company matching contributions all
employees must complete a year of service in which they work at least 1,000
hours. The Company matches 100 percent of the first 3 percent of a participant’s
eligible compensation contributed to the Plan and 50 percent of the next 2
percent of a participant’s eligible compensation contributed to the Plan.
Additional amounts may be contributed at the discretion of the Company. No such
additional discretionary contributions were made during the year ended
December 31, 2008. Participants may also contribute amounts representing
distributions from other qualified defined benefit or defined contribution
plans.
Individuals
age 50 or older (and those who will turn 50 by the end of the calendar year)
have the opportunity to make additional pretax contributions to the Plan if
their contributions are otherwise limited by the tax laws or the Plan limit.
Additional contributions cannot exceed the maximum amount allowed under the
federal tax laws for that calendar year. The Company does not match additional
contributions.
Participant
Accounts - Individual accounts are maintained for each Plan participant.
Each participant's account is credited with the participant's contribution, the
Company’s matching contribution, and Plan earnings.
Investments - Participants direct
the investment of their contributions into various investment options offered by
the Plan. Company matching contributions are invested in the same investment
options as the participant’s contributions.
Vesting -
Participants are immediately vested in their contributions, the Company’s
matching contributions, and investment earnings.
Payment of
Benefits - On termination of service, a participant may receive a
lump-sum amount equal to the vested value of his or her account. Upon death or
retirement, a participant may elect to receive quarterly, semi-annual, or annual
installments, not to exceed 15 years.
2. Summary
of Significant Accounting Policies
Basis of
Accounting - The accompanying financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America (GAAP).
As
described in Financial Accounting Standards Board (FASB) Staff Position
No. AAG INV-1 and SOP 94-4-1, Reporting of Fully
Benefit-Responsive Investment Contracts Held by Certain Investment Companies
Subject to the AICPA Investment Company Guide and Defined-Contribution Health
and Welfare and Pension Plans (the FSP), investment contracts held by a
defined contribution plan are required to be reported at fair value. However,
contract value is the relevant measurement attribute for that portion of the net
assets available for benefits of a defined-contribution plan attributable to
fully benefit-responsive investment contracts because contract value is the
amount participants would receive if they were to initiate permitted
transactions under the terms of the Plan. As required by the FSP, the Statement
of Net Assets Available for Benefits presents the fair value of the Wells Fargo
Stable Return Fund investment contracts, as well as the adjustment of the fully
benefit-responsive investment contract from fair value to contract value. The
Statement of Changes in Net assets Available for benefits is prepared on a
contract value basis.
Use of
Estimates - The preparation of financial statements in conformity with
GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets, liabilities, and changes therein and disclosure of
contingent assets and liabilities. Actual results could differ from those
estimates.
Risks and
Uncertainties - The Plan invests in various investment securities.
Investment securities are exposed to various risks, such as interest rate,
credit, and overall market volatility. Due to the level of risk associated with
certain investment securities, it is at least reasonably possible that changes
in the values of investment securities will occur in the near term and that such
changes could materially affect participants' account balances and the amounts
reported in the statements of net assets available for benefits.
The Plan
provides for investment in the Company's common and Class B stock. At
December 31, 2008 and 2007, approximately 6 percent and 13 percent of the Plan's
total assets were invested in common and Class B stock of the Company,
respectively. The underlying values of the Company's common and Class
B stock are entirely dependent upon the performance of the Company and the
market's evaluation of such performance.
Investment
Valuation and Income Recognition - The Plan's investments are stated at
fair value. Shares of mutual funds are valued at quoted market prices which
represent the net asset values of shares held by the Plan at year-end. The fully
benefit-responsive investment contract is stated at fair value and then adjusted
to contract value. Fair value of the contract is calculated by discounting the
related cash flows based on current yields of similar instruments with
comparable durations.
The
Meredith Corporation Stock Fund (the Fund) is a fund that pools contributions
among participants to buy common stock of Meredith and a certain amount of
short-term investments. Common stock of the Company is purchased at the daily
closing price as reported in the New York Stock Exchange composite. Ownership is
measured in units of the Fund instead of shares of stock.
No Class
B stock of the Company is publicly traded or available for sale. All Class B
shares, however, are convertible to shares of the Company’s common stock on a
one-to-one basis.
Purchases
and sales of securities are recorded on a trade-date basis. Interest income is
recorded on the accrual basis. Dividends are recorded on the ex-dividend
date.
Management
fees and operating expenses charged to the Plan for investments in the mutual
funds are deducted from income earned on a daily basis and are not separately
reflected. Consequently, management fees and operating expenses are reflected as
a reduction of investment return for such investments.
Administrative
Expenses - Administrative expenses of the Plan are paid by the
Company.
Payment of
Benefits - Benefit payments to participants are recorded upon
distribution. As of December 31, 2008, there were no amounts allocated to
accounts of participants who had elected to withdraw from the Plan but had not
yet been paid.
Recently Issued
Accounting Pronouncements - Effective January 1, 2007, the Company
adopted Financial Accounting Standards Board (FASB) Interpretation No. 48,
Accounting for Uncertainty in
Income Taxes — an Interpretation of FASB Statement No 109 (FIN 48).
FIN 48 provides recognition of tax benefits from tax return positions only
if it is more likely than not the position will be sustainable, upon
examination, on its technical merits and any relevant administrative practices
or precedents. The adoption of FIN 48 did not have an impact on the Plan’s
net assets available for benefits or changes in net assets available for
benefits.
On
January 1, 2008, the Plan adopted Statement of Financial Accounting
Standards No. 157, Fair
Value Measurements (SFAS 157) which expands the disclosure of fair
value measurements and its impact on the Plan’s financial statements. Refer to
Note 5, “Fair Value Measurements”, for further information related to
SFAS 157.
3. Investments
The fair
value of the Plan’s investments that represent 5 percent or more of the Plan’s
net assets as of December 31, 2008 and 2007, are as follows:
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Wells
Fargo Stable Return N Fund
|
$
|
38,500,343
|
|
$
|
32,412,883
|
|
Principal
LargeCap S&P 500 Index Separate Account
|
|
24,111,443
|
|
|
40,945,619
|
|
Principal
LargeCap Blend II Separate Account
|
|
17,160,215
|
|
|
29,944,224
|
|
American
Funds EuroPacific Growth R4 Fund
|
|
16,140,945
|
|
|
29,303,083
|
|
Vanguard
Total Bond Market Index Inst Fund
|
|
15,077,258
|
|
|
*
|
|
T.
Rowe Price Small-Cap Stock Fund
|
|
13,939,495
|
|
|
21,738,082
|
|
Principal
MidCap Blend Separate Account
|
|
11,449,735
|
|
|
18,236,199
|
|
Meredith
Corporation Stock Fund
|
|
10,682,440
|
|
|
33,166,248
|
|
Principal
LifeTime 2030 Separate Account
|
|
9,057,434
|
|
|
14,158,855
|
|
* At
December 31, 2007, this investment represented less than 5 percent of the
fair value of the Plan’s assets.
During
the year ended December 31, 2008, the Plan’s investments (including gains
and losses on investments bought and sold, as well as held during the year)
appreciated (depreciated) in value as follows:
|
|
|
2008
|
|
|
|
|
|
Stable
fund
|
$
|
1,483,906
|
|
Bond
funds
|
|
(443,673
|
)
|
Balanced
funds
|
|
(1,288,760
|
)
|
Moderate
funds
|
|
(10,983,957
|
)
|
International
stock fund
|
|
(11,959,401
|
)
|
Meredith
Corporation Stock Fund and Class B shares
|
|
(22,758,296
|
)
|
Domestic
stock funds
|
|
(38,070,939
|
)
|
Net
depreciation in fair value of investments
|
$
|
(84,021,120
|
)
|
4. Investment
Contract
The Plan
maintains a fully benefit-responsive investment contract with Wells Fargo Bank,
N.A. (Wells Fargo). Contributions are maintained in a pooled account. The
account is credited with earnings on the underlying investments and charged for
participant withdrawals and administrative expenses charged by Wells Fargo. As
described in Note 2, because the investment contract is fully
benefit-responsive, contract value is the relevant measurement attribute for
that portion of the net assets available for benefits attributable to the
investment contract. Contract value, as reported by Wells Fargo, represents
contributions made under the contract plus earnings, less participant
withdrawals and administrative expenses. Participants may ordinarily direct the
withdrawal or transfer of all or a portion of their investment at contract
value; however, the investment contract is subject to certain restrictions which
may impact the Plan’s ability to fully realize the investment contract’s value
under certain conditions. The average yields on the contract for the years ended
December 31, 2008 and 2007, were 5.29 percent and 5.24 percent,
respectively. The crediting interest rates on the contract for the years ended
December 31, 2008 and 2007, were 4.10 percent and 5.09 percent,
respectively. The basis and frequency of determining the crediting interest rate
is done on a quarterly basis. There were no guarantees or limitations on the
contract at December 31, 2008 and 2007.
5. Fair
Value Measurements
SFAS 157
emphasizes that fair value is a market-based measurement, not an entity specific
measurement. Therefore, a fair value measurement should be determined based on
assumptions that market participants would use in pricing an asset or liability.
As a basis for considering market participant assumptions in fair value
measurements, SFAS 157 establishes a fair value hierarchy, which
prioritizes the inputs used in measuring fair values. The hierarchy gives the
highest priority to Level 1 measurements and the lowest priority to Level 3
measurements. The three levels of the fair value hierarchy under SFAS 157
are described as follows:
Level
1:
|
Unadjusted
quoted prices in active markets that are accessible to the reporting
entity at the measurement date for identical assets and
liabilities.
|
Level
2:
|
Inputs
other than quoted prices in active markets for identical assets and
liabilities that are observable either directly or indirectly for
substantially the full term of the asset or liability. Level 2 inputs
include the following:
|
|
•
|
quoted
prices for similar assets and liabilities in active
markets
|
|
•
|
quoted
prices for identical or similar assets or liabilities in markets that are
not active
|
|
•
|
observable
inputs other than quoted prices that are used in the valuation of the
asset or liabilities (e.g., interest rate and yield curve quotes at
commonly quoted intervals)
|
|
•
|
inputs
that are derived principally from or corroborated by observable market
data by correlation or other means.
|
Level
3:
|
Unobservable
inputs for the asset or liability (i.e., supported by little or no market
activity). Level 3 inputs include management’s own assumption about the
assumptions that market participants would use in pricing the asset or
liability (including assumptions about
risk).
|
The level
in the fair value hierarchy within which the fair value measurement is
classified is determined based the lowest level input that is significant to the
fair value measure in its entirety.
Following
is a description of the valuation methods used for assets measured at fair
value.
Registered
investment companies — The fair values of these securities are based on
observable market quotations for identical assets and are priced on a daily
basis at the close of business.
Meredith
common stock — The fair value of the common stock is valued at the closing price
reported on the active market on which the security is traded and is classified
within Level 1 in the fair value hierarchy table above.
Meredith
Class B stock — The fair values of these securities are based on observable
market quotations for identical assets and are valued at the closing price
reported on the active market on which the individual securities are
traded.
Pooled
separate accounts — The fair value of units held in pooled separate accounts are
valued at the unit value as reported by the investment manager of the
accounts.
Common
trust fund — The fair value of the investments in the common trust fund is
determined by the fund trustee based on the fair value of the underlying
securities within the fund, which represent the net asset value of the shares
held by the Plan at year end.
The
methods described above may produce a fair value calculation that may not be
indicative of net realizable value or reflective of future fair values.
Furthermore, while the Plan believes its valuations methods are appropriate and
consistent with other market participants, the use of different methodologies or
assumptions to determine the fair value of certain financial instruments could
result in a different fair value measurement.
The
following table sets forth by level, within the fair value hierarchy, the Plan’s
assets carried at fair value as of December 31, 2008.
|
Fair
Value Measurement Using
|
|
|
|
Quoted
Prices
in Active
Markets (Level
1)
|
|
Significant
Other
Observable Inputs
(Level
2)
|
|
Significant
Unobservable Inputs
(Level
3)
|
|
Total
Fair
Value
|
Investments
in registered
|
|
|
|
|
|
|
|
|
investment
companies
|
$
|
48,564,846
|
$
|
-
|
$
|
-
|
$
|
48,564,846
|
Meredith
common stock
|
|
10,682,440
|
|
-
|
|
-
|
|
10,682,440
|
Pooled
separate accounts
|
|
-
|
|
75,404,898
|
|
-
|
|
75,404,898
|
Common
trust fund
|
|
-
|
|
38,500,343
|
|
-
|
|
38,500,343
|
Meredith
Class B stock
|
|
-
|
|
244,688
|
|
-
|
|
244,688
|
Total
investments, at fair value
|
$
|
59,247,286
|
$
|
114,149,929
|
$
|
-
|
$
|
173,397,215
|
6. Exempt
Party-In-Interest Transactions
Certain
Plan investments are shares in pooled separate accounts managed by the Principal
Life Insurance Company (Principal). Principal is the Plan Administrator and,
therefore, these transactions qualify as exempt party-in-interest transactions.
Fees paid by the Plan for investment management services were included as a
reduction of the return earned on each investment.
At
December 31, 2008 and 2007, the Meredith Common Stock Fund held 621,584 and
606,939 shares, respectively, of the common stock of Meredith, the sponsoring
employer, with a cost basis of $16,795,334 and $17,980,139 respectively. In
addition, at December 31, 2008 and 2007, the Plan held 14,293 and 16,049
shares, respectively, of the Company’s Class B stock, with a cost basis of
$66,367 and $70,379, respectively. During the year ended December 31, 2008,
the Plan recorded dividend income from Company common stock of
$516,561.
7. Plan
Termination
Although
it has not expressed any intent to do so, the Company has the right under the
Plan to discontinue its contributions at any time and to terminate the Plan
subject to the provisions of ERISA.
8. Income
Tax Status
The Plan
has received a determination letter from the Internal Revenue Service dated
November 9, 2006, stating that the Plan is qualified under Section 401(a) of the
Internal Revenue Code (the Code) and, therefore, the related trust is exempt
from taxation. Once qualified, the Plan is required to operate in conformity
with the Code to maintain its qualification. The Plan Administrator believes the
Plan is being operated in compliance with the applicable requirements of the
Code and, therefore, believes that the Plan is qualified and the related trust
is tax exempt.
9. Reconciliation
of Financial Statements to Form 5500
The
following is a reconciliation of net assets available for benefits per the
financial statements to the Form 5500 as of December 31, 2008 and
2007.
|
|
2008
|
|
|
2007
|
|
|
|
|
|
|
|
|
Net
assets available for benefits per the financial statements
|
$
|
175,543,349
|
|
$
|
255,433,063
|
|
Adjustment
from contract value to fair value for fully
benefit-responsive
investment contracts
|
|
(2,146,134
|
)
|
|
(113,844
|
)
|
Amount
allocated to withdrawing participants
|
|
-
|
|
|
(617,538
|
)
|
Net
assets available for benefits (current value
column)
per Form 5550
|
$
|
173,397,215
|
|
$
|
254,701,681
|
|
For the
year ended December 31, 2008, the following is a reconciliation of net
appreciation in fair value of investments per the financial statements to the
Form 5500:
Year
Ended December 31,
|
|
2008
|
|
|
|
|
|
Total
net depreciation in fair value of investments per the financial
statements
|
$
|
(84,021,120
|
)
|
Change
in adjustment from contract value to fair value for
fully-benefit
|
|
|
|
Change
in adjustment from contract value to fair value for
fully-benefit
responsive
investment contract
|
|
(2,032,290
|
)
|
Net
depreciation in fair value of investments per the Form
5500
|
$
|
(86,053,410
|
)
|
For the
year ended December 31, 2008, the following is a reconciliation of benefits
paid to participants per the financial statements to the
Form 5500:
Year
Ended December 31,
|
|
2008
|
|
|
|
|
|
Benefits
paid to participants per the financial statements
|
$
|
24,738,043
|
|
Amount
allocated to withdrawing participants as of December 31,
2007
|
|
(617,538
|
)
|
Benefits
paid to participants per the Form 5500
|
$
|
24,120,505
|
|
MEREDITH
SAVINGS AND INVESTMENT PLAN
EIN:
42
0410230 PLAN
NUMBER 004
FORM
5500, LINE 4i
SCHEDULE
OF ASSETS (HELD AT END OF YEAR)
AS
OF DECEMBER 31, 2008
|
(a)
|
(b)
Identity
of Issue, Borrower, Lessor, or Similar Party
|
(c)
Description
of Investment, Including Maturity Date, Rate of Interest, Collateral,
Par or Maturity Value
|
(d)
Cost
|
|
(e)
Current
Value
|
|
Pooled
Separate Accounts
|
|
|
|
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime Strategic Income Separate Account
|
**
|
$
|
918,134
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2010 Separate Account
|
**
|
|
2,248,083
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2015 Separate Account
|
**
|
|
4,805
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2020 Separate Account
|
**
|
|
4,017,967
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2025 Separate Account
|
**
|
|
17,851
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2030 Separate Account
|
**
|
|
9,057,434
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2035 Separate Account
|
**
|
|
33,408
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2040 Separate Account
|
**
|
|
4,098,361
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2045 Separate Account
|
**
|
|
54,530
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2050 Separate Account
|
**
|
|
2,232,601
|
*
|
Principal
Life Insurance Company
|
Principal
LifeTime 2055 Separate Account
|
**
|
|
331
|
*
|
Principal
Life Insurance Company
|
Principal
LargeCap S&P 500 Index Separate Account
|
**
|
|
24,111,443
|
*
|
Principal
Life Insurance Company
|
Principal
LargeCap Blend II Separate Account
|
**
|
|
17,160,215
|
*
|
Principal
Life Insurance Company
|
Principal
MidCap Blend Separate Account
|
**
|
|
11,449,735
|
|
|
|
|
|
75,404,898
|
|
|
|
|
|
|
|
Common
Trust Fund
|
|
|
|
|
|
Wells
Fargo Bank, N.A.
|
Wells
Fargo Stable Return N Fund
|
**
|
|
38,500,343
|
|
|
|
|
|
|
|
Registered
Investment Companies
|
|
|
|
|
T.
Rowe Price Funds
|
T.
Rowe Price Small-Cap Stock Fund
|
**
|
|
13,939,495
|
|
The
American Funds
|
American
Funds EuroPacific Growth R4Fund
|
**
|
|
16,140,945
|
|
The
American Funds
|
American
Funds New Perspective R5 Fund
|
**
|
|
14,534
|
|
PIMCO
|
PIMCO
Total Return Instl Fund
|
**
|
|
3,231,572
|
|
Vanguard
Group
|
Vanguard
Total International Stock Index
|
**
|
|
15,844
|
|
Vanguard
Group
|
Vanguard
Extended Market Index Signal Fund
|
**
|
|
76,712
|
|
Vanguard
Group
|
Vanguard
PRIMECAP Core Fund
|
**
|
|
68,486
|
|
Vanguard
Group
|
Vanguard
Total Bond Market Index Inst Fund
|
**
|
|
15,077,258
|
|
|
|
|
|
48,564,846
|
|
|
|
|
|
|
|
Employer
Securities
|
|
|
|
|
*
|
Meredith
Corporation
|
621,584
shares of common stock
|
**
|
|
10,682,440
|
*
|
Meredith
Corporation
|
14,293
shares of Class B stock
|
**
|
|
244,688
|
|
|
|
|
|
10,927,128
|
|
|
|
|
|
|
|
|
|
|
$
|
173,397,215
|
*
|
Party-in-interest
|
**
|
Cost
information is not required for participant directed investments and
therefore is not included.
|
|
|
See
accompanying report of independent registered public accounting
firm.
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the trustees
(or other persons who administer the employee benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned
thereunto duly authorized.
|
|
|
|
|
|
|
|
MEREDITH
SAVINGS AND INVESTMENT PLAN
(Name
of Plan)
|
|
|
|
|
/s/
Steven M. Cappaert
|
|
|
Steven
M. Cappaert
Corporate
Controller of Meredith Corporation
|
|
|
|
Date: June 25,
2009
|
|
|
INDEX
TO ATTACHED EXHIBIT
|
Exhibit
Number
|
|
Item
|
|
|
|
|
|
23
|
Consent
of Independent Registered Public Accounting
Firm
|