| Meredith
Brand Licensing pursues opportunities to build equity in our trusted
brands by extending their use to products and services offered
by selected partners.
Since 1994, Wal-Mart has licensed
Meredith's Better Homes and Gardens® brand for use
on gardening and outdoor living products in its garden centers
across the United States. An assortment of products such as
outdoor furniture and replacement cushions, gardening hand tools,
watering nozzles, hoses and sprinklers, garden bulbs and seeds,
are identified with the Better Homes and Gardens brand.
Meredith sold the net assets of
its Better Homes and Gardens® Real Estate Service real
estate brokerage franchising business to GMAC Home Services,
Inc., in July 1998. As part of the sale, the acquirer was granted
a license to use the Better Homes and Gardens brand
for up to 10 years and the right to draw upon Meredith's extensive
home-and-family information resources to support its consumer
marketing efforts.
Meredith Brand Licensing supports
licensee efforts while protecting our valuable brands by continually
monitoring the quality of goods and services associated with
those brands.
10/2003
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