FBNY can confirm that Country Home has folded. A spokesperson at Meredith told us that as part of company-wide reductions the “difficult decision” was made to fold the magazine, which employed about 40 people.

The March/April edition of the magazine will be its last. More details after the jump.

We’re told the “company-wide reductions” are in actuality layoffs at Meredith Corp. to the tune of 250 people, and a relocation of some New York positions to company headquarters in Des Moines, Iowa. In a statement Meredith President-CEO Steve Lacy said “The recessionary economy has impacted both publishing and broadcasting advertising, which accounts for approximately 60% of our revenue stream. Trends indicate a continuing soft economy into calendar 2009 as well.”