I'd do that with the help of a shell, something like
awk -F= '
/^title=/ {t=$2;gsub(/ /,"_",t)}
/^feedName=/ {f=$2;gsub(/ /,"_",f);
printf "mv -i \"%s\" \"%s-%s.meta\"\n", FILENAME, f, t}
' *.meta | sh
But you can also trigger awk's system() command (so that you don't see
the shell outside of the awk code).
Janis