• Mediaweek, Tuesday, December 9, 2008 9:15 AM

With its ad-supported media clobbered by the economic downturn, Steve Lacy, Meredith CEO, says his company will now focus on the newer revenue streams of licensing and custom marketing.

Speaking Dec. 8 at UBS' annual media conference, Lacy outlined a plan to grow market share by increasing sales of Better Homes and Gardens-licensed home products at Wal-Mart. The publishing company will double in number the 550-plus BHG licensed products that Wal-Mart began selling earlier this year.

Lacy also plans to use the broad reach of Meredith magazines to build integrated media packages that can be measured. In addition to i>Better Homes and Gardens, Meredith publishes Ladies' Home Journal and Family Circle, all of which are supposedly recession-proof because they focus on families and well-being.

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