| Meredith owns and operates 12 television
stations with a total reach of nearly 10 percent of U.S. households. Eight of our stations
are in the top 35 markets, and many of our stations are located in high-growth areas such
as tourist destinations and state capitals. The Broadcasting Group currently includes six
FOX affiliates, five CBS affiliates and one NBC affiliate. Fiscal '99 Highlights
Broadcasting Group profit totalled $72.3 million, 38 percent of the company's total
profit. Revenues totalled $262.1 million, 25 percent of the company's total revenues.
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