• by David Goetzl  @dgoetzl, April 28, 2010

As one of five publishers forming Next Issue Media -- which is designed to help launch e-publishing initiatives -- Meredith said it's investing $1.25 million to $1.5 million per quarter. While building equity, it posted a loss in January-March, while a bigger one is expected in the April-June period.

Of course, the venture is still in a start-up stage, so that's expected.

Interestingly, Meredith's top magazine executive Jack Griffin said iPads and mobile devices will bring some “cannibalization� of readership. But that will come at a slower rate at Meredith, with its portfolio of titles such as "Ladies Homes Journal" and "Family Circle."

“It depends heavily on what your demographic is and what your content focus is,� he said. “And our belief is that with our stable of titles oriented to adult American women -- those are not the early-adopters.�