MEREDITH CORPORATION AND KATZ BROADCASTING ANNOUNCE MULTI-NETWORK DISTRIBUTION AGREEMENT

Meredith to Add Grit, Escape and LAFF in Five Major Markets

ATLANTA, GA (March 20, 2015) -- Meredith Corporation (NYSE:MDP; www.meredith.com) will carry the three emerging Katz Broadcasting television networks, Grit, Escape and LAFF, in five markets as part of a major new distribution agreement announced today.

Meredith will launch:

· Grit in Atlanta on WGCL-TV (On Channel 46.3)

· Escape in Portland, OR on KPDX-TV (49.2), Hartford, CT/WFSB-TV (3.2), Greenville, SC/WHNS-TV (21.3) and Las Vegas/KVVU-TV (5.2)

· LAFF in Portland, OR/KPTV-TV (12.3) and Hartford/WFSB (3.3)

This is the first distribution agreement between the two companies. With the Meredith distribution, Grit will be available in 78 percent of the country, Escape in 58 percent and LAFF in 50 percent.

"Katz Broadcasting is creating unique and attractive demo-specific networks for the digital landscape in the broadcasting industry. Grit, Escape and LAFF will add great value to our stations in these markets," said Doug Lowe, Executive Vice President of the Local Media Group at Meredith Corporation.

"It is our privilege to be in business with Meredith Corporation," said Jeffrey Wolf, Chief Distribution Officer for Katz Broadcasting. "Meredith understands very well that in this new world where consumers are continuing to combine over-the-air television with over-the-top services, offering demo-targeted networks like Grit, Escape and LAFF will help their stations grow and prosper."

Action-oriented Grit reaches men ages 25-54, and is built around the classic male hero archetype with a heavy focus on westerns, war and action movies. Escape targets women ages 25-54 with a mix of theatrical movies, and off-network series anchored in stories of crime and mystery. The comedy-driven LAFF will feature a mix of contemporary off-network sitcoms and popular movies, with a target audience of adults ages 18-49. The LAFF network will debut on April 15.

ABOUT KATZ BROADCASTING

Katz Broadcasting was established in 2014 by Bounce TV founder/COO and former Turner Broadcasting executive Jonathan Katz. Katz is President and CEO of the company while also still serving as COO of Bounce TV, the nation's first and only over-the-air television network for African Americans.

ABOUT MEREDITH CORPORATION

Meredith Corporation (NYSE: MDP; www.meredith.com) has been committed to service journalism for more than 110 years. Today, Meredith uses multiple distribution platforms - including broadcast television, print, digital, mobile and video - to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.

Meredith's Local Media Group includes 17 owned or operated television stations reaching 11 percent of U.S. households. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 - including Atlanta, Phoenix, St. Louis and Portland - and 13 in Top 50 markets.