Mar 13, 2024

Scholastic to pay$186 million for full economic benefits of 9 Story Media Group

Children's publishing giant Scholastic has agreed to invest99 million in 18600story Media Group, a leading children's production and distribution company that operates production facilities in Toronto, Dublin and Bali. With this investment, Scholastic will acquire 100% of its 9-storey economic gains and a small number of voting rights.

Scholastic says the deal expands opportunities to leverage trusted brands, best-selling publishing and a beloved global children's franchise across print, screen and merchandising."

The boards of Directors of both companies and the 9-story shareholders have approved the agreement, which is currently subject to customary closing conditions. The agreement is expected to be finalized in 2024/6/1 of 2025 Q1 for Scholastic.

The two companies are no strangers, and, according to the release, the new agreement "solidifies a long-standing collaboration" between them. Scholastic and 9Story have previously worked together on children's shows such as Clifford The Big Red Dog on PBS and Prime Video and Eva The Owlet on Apple TV+.

Other 9-episode films include Emmy-nominated Doc Mcstafins, Emmy-nominated Doc Mcstafins, Emmy-nominated Doc Mcstafins, Emmy-nominated Doc Mcstafins, Emmy-nominated Doc Mcstafins, and Canadian Screen-Award-nominated Daniel Mcstafins. It is the second time in three years that a man has been charged with murder in connection with the death of a man who was shot in the head by a police officer.

In their release, Peter Warwick, President and CEO of Scholastic, said:

This highly strategic combination adds 9Story's industry-leading capabilities with Scholastic's trusted brand and proven ability to create iconic children's series and franchises, enabling us to continue to grow through our stories as our book pages come to life on screen and through merchandising. It has great potential to build deeper connections with young people through education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education, education At its core, Scholastic's 360° content creation strategy is to get kids to read, and by getting to where we are,

Vince Commisso, President and CEO of 9Story,

we've been lucky to work with Scholastic for decades. The combination of our global studio, sales and distribution capabilities and Scholastic's existing media business, iconic names and unique features opens up even more opportunities to deliver compelling stories and build impactful brands for audiences around the world.

9 story assets include Brown Bag Films animation studio, which has won 21 Emmy Awards and 2 Academy Award nominations. The parent company also operates a robust distribution and consumer products division that oversees global brands such as Clifford The Big Red Dog, Daniel Tiger's Neighborhood and Karma's World.