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Source: Meredith news release

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Meredith Corporation (NYSE: MDP;, the leading media and marketing company with national brands serving 175 million unduplicated Americans, including 80 percent of U.S. millennial women and a paid subscription base of more than 40 million - and 17 local television stations in fast-growing markets, today reported fiscal 2019 first quarter results.

"We are off to a strong start in fiscal 2019, delivering results that exceeded expectations," said Meredith Corporation President and Chief Executive Officer Tom Harty. "Performance was driven by record demand for political advertising in our Local Media Group, and improved sequential comparable print advertising performance along with strong expense discipline in our National Media Group. As a result, we delivered significantly improved year-over-year adjusted EBITDA and margins, which we expect will continue through fiscal 2019.

"Looking ahead to the second fiscal quarter, we see continued record political advertising in our Local Media Group and continued improving advertising performance in our National Media Group," Harty added. "We continue to expect to achieve our goals of reducing debt by $1 billion by the end of fiscal 2019 and generating $1 billion of adjusted EBITDA in fiscal 2020, meaningfully contributing to total shareholder return."

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