Scholastic, a leading global children's publishing, education, and media company, has announced its acquisition of 100% of the economic interest and a minority of voting rights in 9 Story Media Group, an esteemed creator, producer, and distributor of children's content, for approximately $250 million (USD $186 million). This investment marks a strategic move to significantly bolster Scholastic's ability to leverage its well-established brand and extensive portfolio of children's franchises across various platforms, including print, screens, and merchandising. The collaboration builds on a longstanding relationship between Scholastic Entertainment and 9 Story, highlighting successful projects like the animated series of "Clifford the Big Red Dog" and "Eva the Owlet."

Peter Warwick, Scholastic's CEO, emphasized the potential of this union to deepen connections with young audiences through engaging storytelling, while Iole Lucchese, Scholastic Board Chair and President of Scholastic Entertainment, expressed confidence in meeting the high demand for quality family entertainment. The deal, which is subject to customary closing conditions, is expected to close in the first quarter of Scholastic's fiscal 2025. It aims to enrich Scholastic's content creation strategy, expanding the global reach of its authors and illustrators and building upon 9 Story's momentum, which includes significant deals and acquisitions enhancing its content library and production capabilities. The acquisition is anticipated to contribute to long-term earnings growth and operational efficiencies for Scholastic.