Subsequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events

Subsequent Events

Note 19 Subsequent Events

On October 28, 2011, the Company completed the sale of Every Day with Rachael Ray, a magazine title within our North America reportable segment, to Meredith Corporation.  In addition, certain of the Company’s employees were transferred to Meredith Corporation.  The net carrying value of the title was less than zero as of September 30, 2011.

In October 2011, the Company announced that it initiated a process to explore a possible sale of Allrecipes, in order to accelerate focus on our core businesses.  We expect that the sale will take place within the next twelve months.  At September 30, 2011, our carrying value of Allrecipes included total assets of $90.8, consisting of $7.9 in current assets and $82.9 in noncurrent assets.  Excluding intercompany payables, our carrying value at September 30, 2011 of Allrecipes included total liabilities of $13.3, consisting of $5.3 in current liabilities and $8.0 in noncurrent liabilities.