Meredith Authorizes Stock Repurchase for Up to Two Million Shares

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Media company The Meredith Corp., Des Moines, IA said yesterday that its board of directors has authorized the repurchase of up to two million additional shares of the company's stock through public and private transactions.

Meredith has repurchased more than 875,000 shares to date in the third quarter of fiscal year 2000, ending March 31, compared to 400,000 shares in the first six months of the fiscal year. Approximately 1.5 million shares remain outstanding under existing authorizations.

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